Streetbeat News

Assets

IIPR

A Pennsylvania court has ordered the dissolution of Goodblend Pennsylvania LLC, a subsidiary of cannabis operator Parallel, due to a $5.8 million rent default to its landlord, Innovative Industrial Properties Inc. (IIPR). The legal battle saw Surterra Holdings, the majority owner of Goodblend, seeking dissolution due to operational challenges. The court's directive mandates the development of a plan for Goodblend's dissolution and disposal of its medical marijuana assets.

Portfolio Pulse from Nicolás Jose Rodriguez

August 29, 2023 | 9:10 pm

BLK

BTCUSD

GBTC

Grayscale Bitcoin Trust's recent legal victory over the SEC could potentially pave the way for the first Bitcoin ETF in the U.S. This has sparked a range of reactions from industry experts, with some viewing it as a significant step towards broader institutional adoption of cryptocurrencies, while others emphasize the need for an actual spot Bitcoin ETF approval. Major institutional players such as Blackrock Inc have shown early anticipation of crypto's potential, and the approval of a Bitcoin ETF could lead to a surge in institutional interest.

Portfolio Pulse from Murtuza Merchant

August 29, 2023 | 9:03 pm

LULU

Lululemon Athletica (NASDAQ:LULU) has outperformed the market over the past 10 years by 7.71% on an annualized basis, producing an average annual return of 18.28%. If an investor had bought $1000 of LULU stock 10 years ago, it would be worth $5,359.41 today.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 9:00 pm

HUM

Humana (NYSE:HUM) has outperformed the market over the past 20 years by 10.24% on an annualized basis, producing an average annual return of 17.89%. If an investor had bought $1000 of HUM stock 20 years ago, it would be worth $26,416.03 today.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 9:00 pm

ARKK

COIN

DNA

GOOGL

MARA

RIOT

TSLA

Cathie Wood's ARK ETFs saw a significant surge, with assets under management increasing by $600 million in a single day due to a rally in crypto-related and electric vehicle stocks. The ARK Innovation ETF (ARKK) gained 5.34% and saw its AUM rise by nearly $400 million. The surge was fueled by a court ruling in favor of Grayscale's Bitcoin ETF application and a 7% surge in Bitcoin's value. Crypto-related stocks such as Coinbase (COIN), Marathon Digital Holdings (MARA), and Riot Platforms (RIOT) saw double-digit gains. Tesla (TSLA), the largest holding within Wood's Ark funds, experienced a resurgence of 7.3%. Ginkgo Bioworks Holdings (DNA) surged over 24% following the announcement of a partnership with Google Cloud (GOOGL).

Portfolio Pulse from Piero Cingari

August 29, 2023 | 8:52 pm

A significant bullish stance has been taken on Mastercard (NYSE:MA) by a large investor, as indicated by a large position in the company's options. The sentiment among these big-money traders is split between 52% bullish and 47% bearish. The price target for Mastercard over the last 3 months has been between $165.0 to $500.0. Several financial institutions have maintained their positive ratings on Mastercard, with price targets ranging from $435 to $510.

Portfolio Pulse from Benzinga Insights

August 29, 2023 | 8:46 pm

GLPI

Gaming and Leisure Properties (GLPI) has acquired the land under the Hard Rock Casino in Rockford, IL for $100 million.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 8:39 pm

MOD

Modine (NYSE:MOD) has announced the sale of its coatings aftermarket application facilities in California and Florida to Protecall. The sale is part of Modine's strategy to grow its coatings business through strategic licensing agreements. The company will continue to own and license the spray-applied coatings used in aftermarket applications.

Portfolio Pulse from Happy Mohamed

August 29, 2023 | 8:37 pm

USO

The American Petroleum Institute (API) reported a weekly crude stock draw of 11.486 million barrels, significantly higher than the estimated 2.9 million barrels.

Portfolio Pulse from Benzinga Newsdesk

August 29, 2023 | 8:35 pm

BTCUSD

GBTC

Grayscale Investments Bitcoin Trust (OTCPK: GBTC) surged 17% following a legal victory against the SEC, which could lead to the launch of the first spot-Bitcoin ETF in the U.S. The trust's performance resulted in a reduction of its price discount to its underlying Bitcoin holdings to under 17%. The news is seen as a significant milestone for the cryptocurrency industry. Other industry giants including Bitwise, VanEck, Invesco, Fidelity and Valkyrie are also awaiting approval for their ETF applications.

Portfolio Pulse from Piero Cingari

August 29, 2023 | 8:33 pm