Streetbeat News

Assets

MSTR

JPMorgan analysts have expressed concerns about the potential market risks posed by MicroStrategy's debt-driven Bitcoin purchases. MicroStrategy, under CEO Michael Saylor, has aggressively bought Bitcoin, financed through debt, including a plan to issue $500 million in convertible debt for more purchases. This strategy, amid Bitcoin's price surge to over $73,000, could amplify a market downturn, with some predicting a correction to the $50,000 range.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 10:36 am

HITI

High Tide Inc. (NASDAQ:HITI) is set to acquire the Canadian cannabis brand Queen of Bud for $1M, expanding its international brand portfolio. The deal includes all IP and trademarks of Queen of Bud, with its founder becoming a global brand ambassador. The transaction, pending TSX Venture Exchange approval, involves a $100,000 cash payment and the remainder in High Tide Shares, based on a 10-day volume weighted average price.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 10:05 am

FXI

China's new loans for February amounted to 1,450.0 billion, falling short of the estimated 1,540.0 billion and significantly lower than the previous 4,920.0 billion.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 9:14 am

NUTX

Nutex Health reported a total revenue of $69.7M for the quarter ending December 31, 2023, an increase from $53.7M year-over-year. The FY23 total revenue reached $247.6M, up from $219.3M YoY. As of December 31, 2023, the company's total assets were $398.5M, with cash and cash equivalents of $22.3M.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 9:09 am

BTCUSD

The recent surge in Bitcoin's value could potentially lead to an increase in luxury watch prices, mirroring a trend from 2021. This correlation between Bitcoin, the S&P 500 index, and luxury watch prices in the secondary market has been observed over the past five years. High-demand watch models like the Rolex Daytona, Patek Philippe Nautilus, and Audemars Piguet Royal Oak could see price surges. Additionally, the rise in Bitcoin's value has sparked interest in fractional tokenization of luxury watches, potentially broadening investor access to these assets.

Portfolio Pulse from Benzinga Neuro

March 15, 2024 | 8:53 am

ARKF

ARKK

ARKW

COIN

HOOD

Cathie Wood's Ark Invest sold 1,142,482 shares of Robinhood (HOOD) valued at $20.62 million across its ARKK, ARKW, and ARKF ETFs as Robinhood's shares rallied. Robinhood's customer base grew to 23.6 million in February. Ark did not sell any Coinbase (COIN) shares, despite its recent rally, with COIN remaining ARKK's top holding.

Portfolio Pulse from Shanthi Rexaline

March 15, 2024 | 8:35 am

EWQ

The France Harmonised Index of Consumer Prices (HICP) for February showed a month-on-month increase of 0.9%, aligning with estimates and marking a significant rise from the -0.2% recorded in the previous month.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 7:50 am

BTCUSD

Bitcoin (BTC) experienced an 8% drop to below $67K, attributed to concerns over persistent inflation and speculation about the Federal Reserve maintaining higher interest rates. The cryptocurrency community remains optimistic, with some seeing the dip as a buying opportunity.

Portfolio Pulse from Mehab Qureshi

March 15, 2024 | 6:19 am

MMI

Institutional Property Advisors (IPA), a division of Marcus & Millichap (NYSE:MMI), facilitated the sale and arranged financing for Alta Chandler at The Park, a multifamily asset in Chandler, Arizona, for $94.5 million. IPA Capital Markets secured $52 million in acquisition financing for the deal.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 5:55 am

ECPG

Encore Capital has successfully priced an upsized offering of $500 million in senior secured notes at an interest rate of 9.250%, with these notes set to mature in 2029. This move indicates the company's strategy to secure long-term financing at a fixed interest rate.

Portfolio Pulse from Benzinga Newsdesk

March 15, 2024 | 5:40 am