Streetbeat News

Bankruptcy

MIMO

Airspan Networks Holdings Inc. (MIMO) announced a Restructuring Support Agreement with Fortress Investment Group and other stakeholders, providing up to $95M in equity financing and eliminating all debt. The company filed for Chapter 11 to expedite restructuring, aiming to become private under Fortress majority ownership. Airspan received over $53M in DIP financing to support operations during restructuring, with court approval pending. Existing stockholders may exchange shares for cash or warrants.

Portfolio Pulse from Charles Gross

March 31, 2024 | 6:34 pm

FSR

GOEV

KARS

NKLA

TSLA

The electric vehicle (EV) sector experienced mixed sentiments despite the broader market's record high. Tesla faced reduced delivery targets and price target cuts due to demand issues, while promoting a free trial of its full-self driving software. Fisker announced significant price reductions for its EVs amid bankruptcy rumors. Nikola teased the return of its battery EV trucks and announced the opening of a hydrogen refueling station. Canoo acquired assets from bankrupt Arrival Automotive. BYD aims for a 20% sales growth in 2024. The KraneShares Electric Vehicles ETF saw a weekly decline.

Portfolio Pulse from Shanthi Rexaline

March 30, 2024 | 12:21 pm

TUP

Tupperware has expressed significant doubt about its ability to continue operating, raising concerns about its future viability.

Portfolio Pulse from Charles Gross

March 29, 2024 | 7:20 pm

ATAI

META

MNMD

PSIL

TSLA

Beckley Psytech and atai Life Sciences announced positive results from a Phase 2a study of 5-MeO-DMT for Treatment Resistant Depression. Utah hospitals will soon offer psilocybin and MDMA therapy. Elon Musk discussed the benefits of ketamine for depression and its positive impact on investors. Meta is under investigation for potentially facilitating illegal drug sales. MindMed's CEO highlighted LSD's potential in a podcast. Various companies and ETFs are mentioned with their stock performance.

Portfolio Pulse from Lara Goldstein

March 29, 2024 | 4:43 pm

KRE

'Rich Dad Poor Dad' author Robert Kiyosaki predicts a financial crisis in the US similar to China's, impacting baby boomers' retirement plans. He attributes the crisis to the collapse of major entities in China and warns of similar issues in the US commercial real estate sector. Kiyosaki advises investing in tangible assets like gold, silver, and Bitcoin over fiat currency or real estate investment trusts (REITs). The SPDR S&P Regional Banking ETF (KRE) is mentioned in relation to the challenges faced by the US banking system, including the exposure of regional banks to commercial real estate.

Portfolio Pulse from Shanthi Rexaline

March 29, 2024 | 12:12 pm

DJT

Richard W. Painter, former White House ethics lawyer, expressed concerns about the risks associated with the merger of Trump Media & Technology Group Corp (NASDAQ:DJT), citing previous Trump ventures that led to losses and bankruptcy. He highlighted potential conflicts of interest and the impact on the social media industry if Trump were to win the 2024 presidential election. Financial commentators and economists have mixed reactions, with some predicting significant gains for DJT, while others remain skeptical about its valuation.

Portfolio Pulse from Benzinga Neuro

March 28, 2024 | 1:28 pm

JOAN

JOANN Inc (NASDAQ:JOAN) shares plummeted by 21.7% to $0.08 due to ongoing volatility following Nasdaq's decision to suspend its listing on March 28, after the company filed for Chapter 11 bankruptcy on March 18. Nasdaq determined JOANN is no longer suitable for listing, a decision JOANN will not appeal. The stock will be delisted and removed from Nasdaq registration.

Portfolio Pulse from Henry Khederian

March 27, 2024 | 2:02 pm

AAPL

GME

TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin show little change despite bullish momentum, with a $160K price target for Bitcoin considered conservative. FTX seeks to nullify 'Sam Coins' amid bankruptcy. Dawkoins surges 400% on Richard Dawkins' birthday. GameStop and other stocks move lower in pre-market trading, while investor sentiment drops, affecting the S&P 500. Political and tech developments, including Tesla's Optimus robot and Apple's potential AI event, are highlighted. Financial and energy sectors also see significant news.

Portfolio Pulse from Akanksha Bakshi

March 27, 2024 | 1:18 pm

SCLX

SRNE

The U.S. Bankruptcy Court has extended the lockup period on shares of Scilex Holding Company (SCLX) that were distributed by Sorrento Therapeutics (SRNE) to its stockholders as a dividend. This decision may affect the liquidity and market behavior of SCLX shares in the short term.

Portfolio Pulse from Benzinga Newsdesk

March 27, 2024 | 1:01 pm

BTCUSD

FTX is seeking to nullify the value of tokens tied to its founder, Sam Bankman-Fried, in bankruptcy court, arguing they are worthless. The tokens in question include MAPS, OXY, SERUM, and BOBA, with claims exceeding $1.1 billion. The court is considering the valuation of these 'Sam Coins' amid debates on the inherent value of cryptocurrencies. The value of these tokens has significantly dropped, with MAPS, OXY, and SERUM experiencing declines of over 98%. Bankman-Fried faces legal consequences, having been found guilty of fraud.

Portfolio Pulse from Mehab Qureshi

March 27, 2024 | 8:56 am