Streetbeat News

Assets

SUM

Summit Materials (NYSE:SUM) has seen a decrease in short interest, now at 2.65% of its float, down 7.02% from the last report. With 4.27 million shares sold short, it would take about 3.25 days to cover all short positions. This change in short interest could indicate a shift in market sentiment towards the stock. Compared to its peers, SUM has a higher short interest percentage, suggesting more bearish sentiment among investors relative to its peer group.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 1:45 pm

RGA

Reinsurance Gr (NYSE:RGA) has seen an 18.6% increase in short interest since its last report, with 522 thousand shares now sold short, representing 1.02% of its available trading shares. It would take about 1.44 days to cover all short positions. This rise in short interest can indicate a more bearish market sentiment towards RGA, although it has less short interest compared to its peer group average of 2.44%. The increase in short interest doesn't necessarily predict a price drop but suggests traders are betting more on its decline.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 1:45 pm

TMHC

Taylor Morrison Home (NYSE:TMHC) has seen a 22.87% increase in short percent of float since its last report, with 3.05 million shares sold short, representing 4.03% of available shares. This indicates a bearish market sentiment, although it's below the peer group average of 6.36% short interest. The article suggests that an increase in short interest doesn't necessarily predict a stock price fall.

Portfolio Pulse from Benzinga Insights

April 11, 2024 | 1:45 pm

BTCUSD

CKBUSD

ETHUSD

JASMYUSD

Bitcoin surpassed the $70,000 mark following the release of U.S. Producer Price Index (PPI) data, indicating a 0.2% rise in March. Ethereum also saw gains, trading above $3,500. JasmyCoin emerged as the top gainer with a 21.5% increase, while Nervos Network experienced the largest loss. The global crypto market cap increased by 3.7% to $2.63 trillion. Other notable gainers include Neo, Helium, Bittensor, and Pendle, with significant losers being Uniswap, Fantom, Wormhole, and Aave.

Portfolio Pulse from Avi Kapoor

April 11, 2024 | 1:32 pm

WISH

ContextLogic Inc. (WISH) is urging its stockholders to vote 'FOR' a proposed Asset Sale transaction with Qoo10 Pte. Ltd., emphasizing the critical nature of the vote for the company's future. The transaction aims to protect stockholder value, with ContextLogic continuing as a publicly traded entity post-transaction, holding approximately $2.7 billion in NOL carryforwards and $150-157 million in post-closing cash. The vote is set for April 12, 2024, with the transaction potentially closing on April 16, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 1:21 pm

SHIBUSD

'Dogecoin Killer' Shiba Inu (CRYPTO: SHIB) experienced a 48,654% increase in its burn rate, leading to a 3.5% price increase. The surge in burn rate was highlighted by two significant transactions. Social activity around Shiba Inu has also seen a dramatic increase, with LunarCrush reporting a surge in creators and interactions. Large transaction volumes have increased by 24.7%, and the number of Shiba Inu addresses holding significant amounts of SHIB has been detailed, indicating a growing interest in the meme coin.

Portfolio Pulse from Khyathi Dalal

April 11, 2024 | 1:18 pm

GOLD

RVLGF

Revival Gold (OTCQX: RVLGF) has acquired Ensign Minerals in an all-stock deal valued at $21.9 million, marking its second gold asset in the U.S. This acquisition expands Revival's gold resource base to 3.8 million ounces inferred, with the Mercur project in Utah adding 1.6 million ounces. The deal aims to accelerate Revival's timeline to gold production, targeting 150,000 ounces per year. Post-acquisition, Revival Gold shareholders will own 65% of the new entity. The merger enhances Revival's position in the North American gold market amid high demand.

Portfolio Pulse from Stjepan Kalinic

April 11, 2024 | 12:48 pm

GLD

SPY

TLT

March's Producer Price Index (PPI) report showed a mixed inflation landscape, with the headline PPI year-on-year increase at 2.1%, missing expectations, while the core PPI exceeded forecasts. This has maintained market uncertainties about potential delays in interest rate cuts, affecting Treasury yields, the dollar, and investment assets like the iShares 20+ Year Treasury Bond ETF (TLT), SPDR Gold Trust (GLD), and SPDR S&P 500 ETF Trust (SPY).

Portfolio Pulse from Piero Cingari

April 11, 2024 | 12:42 pm

ETHUSD

Nick Shalek of Ribbit Capital presented a bullish case for Ethereum at a Sohn Conference Foundation event, emphasizing its potential as a deflationary store of value with dividend payouts. He highlighted Ethereum's role in tokenization, DeFi, and its growing ecosystem, including $88 billion in stablecoins, $13 billion in digital art, and over $100 billion in tokenized collateral. Shalek pointed out Ethereum's unique advantages over Bitcoin, such as its deflationary model and the generation of fees for token distribution to holders.

Portfolio Pulse from Murtuza Merchant

April 11, 2024 | 12:31 pm

ASPI

ASP Isotopes Inc. (ASPI) reported a $(4.7)M operating free cash flow for 2023, slightly better than the $(5)M target. The company ended the year with $7.9M in cash and recently raised over $25.5M through a convertible note offering and warrant exercises. ASPI highlighted its progress, including the start of its first commercial isotopes plant, contracts for enriched silicon-28 and nuclear fuels, and the construction of a quantum enrichment facility. The company expects to generate revenue from enriched isotopes sales this year and is exploring debt financing options for future projects.

Portfolio Pulse from Benzinga Newsdesk

April 11, 2024 | 12:13 pm