Streetbeat News

Assets

USO

The EIA reported a build in distillate stocks of 0.275 million barrels, contrary to the expected draw of 1.100 million barrels. This follows a prior draw of 3.312 million barrels.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 2:30 pm

SPY

USO

The latest report on USA crude oil inventories shows a draw of 0.846 million barrels, which is less than the expected draw of 2.700 million barrels and significantly less than the prior draw of 4.649 million barrels. This indicates a smaller reduction in crude oil supply than anticipated.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 2:30 pm

ARKB

ETHE

ETHW

FETH

GBTC

Bitcoin spot ETFs saw a significant outflow of $127.05 million, while Ethereum ETFs had a smaller outflow of $3.4452 million. Grayscale's GBTC and ARKB experienced notable outflows, while Fidelity's FETH and Bitwise's ETHW saw inflows. Bitcoin dropped 4% below $60,000, and Ethereum fell 3.5% to $2,520. Despite short-term volatility, there is a bullish outlook due to anticipated Federal Reserve rate cuts.

Portfolio Pulse from Murtuza Merchant

August 28, 2024 | 1:20 pm

SPRC

SciSparc Ltd. has granted Polyrizon Ltd. global rights to its SCI-160 pain therapy program in a deal worth up to $6 million. SciSparc will receive $3 million in Polyrizon securities and potential milestone fees of $3 million in cash.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 1:00 pm

MMV

MultiMetaVerse Holdings has formed a joint venture with Zhenghe Holding called GOLD ABC Digital Technology. The venture focuses on asset appreciation using AI algorithms. GOLD ABC has borrowed 500 Bitcoins at $60,000 each for secondary market trades and plans to invest in gold over the next three months.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 12:41 pm

CNTM

ConnectM Technology Solutions, Inc. (NASDAQ:CNTM) has approved a debt equity swap to convert up to $15 million of debt into common equity at $2.00 per share, aiming to deleverage its balance sheet. The company also opened a trading window for management to purchase shares.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 12:34 pm

GLBS

LLAP

VSTE

The article highlights three industrial stocks, Terran Orbital Corp (LLAP), Globus Maritime Ltd (GLBS), and Vast Renewables Ltd (VSTE), which are currently oversold with RSI values below 30, indicating potential buying opportunities. These stocks have experienced significant price declines recently.

Portfolio Pulse from Avi Kapoor

August 28, 2024 | 12:19 pm

COCH

Envoy Medical, a company focused on fully implanted hearing devices, has secured a $10 million lending facility, drawing $5 million initially. This funding, provided by major shareholder Glen Taylor, supports the company's growth and milestone achievements.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 12:07 pm

LQDT

Liquidity Services (NASDAQ:LQDT) is conducting a sealed bid auction for three unused ANGI compressed natural gas refueling stations on AllSurplus.com, available until September 12, 2024.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 12:02 pm

IMAB

I-Mab reported cash and cash equivalents, and short-term investments totaling $207.5 million as of June 30, 2024. The company expects this cash runway to last until 2027.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2024 | 11:31 am