Streetbeat News

Bankruptcy

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Vicinity Motor failed to renegotiate terms with creditors RBC and EDC, leading to a Notice of Intention to Enforce Security under Canada's Bankruptcy and Insolvency Act. The company's credit facilities were not renewed, impacting its financial stability.

Portfolio Pulse from Benzinga Newsdesk

October 14, 2024 | 7:31 am

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StateHouse Holdings, a significant cannabis company, has filed for bankruptcy under Canada's Bankruptcy and Insolvency Act. This follows financial struggles and legal action by Pelorus Fund. Trading on the Canadian Securities Exchange has been halted, and the company may be delisted.

Portfolio Pulse from Juan Spínelli

October 11, 2024 | 4:25 pm

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SLANG Worldwide is facing a financial crisis with a $17.3 million debt due in November 2024. The company is struggling with declining revenues and may need to sell assets or downsize. SLANG's stock has dropped significantly.

Portfolio Pulse from Rolando García

October 11, 2024 | 3:04 pm

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U.S. stocks fell with the S&P 500 down 0.3%. Domino's Pizza reported mixed Q3 results, missing sales estimates but beating EPS. BloomZ shares surged 65% after a new contract, while LSB Industries rose 15% following an analyst upgrade. Gritstone bio shares plummeted 61% after filing for Chapter 11. Indivior and 10x Genomics also saw significant declines.

Portfolio Pulse from Avi Kapoor

October 10, 2024 | 6:41 pm

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Crude oil prices surged by 3%, while Delta Air Lines reported disappointing third-quarter earnings. The Nasdaq Composite saw a slight gain, while the Dow and S&P 500 experienced minor declines. Notable stock movements included BloomZ Inc. rising 73% and Gritstone bio dropping 64% after filing for Chapter 11 restructuring.

Portfolio Pulse from Avi Kapoor

October 10, 2024 | 4:04 pm

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Gritstone Bio (NASDAQ:GRTS) shares plummeted by 64.2% after the company announced a voluntary Chapter 11 restructuring. The company aims to preserve value and explore strategic alternatives while continuing its operations, including developing next-generation vaccines and immunotherapies.

Portfolio Pulse from Henry Khederian

October 10, 2024 | 3:02 pm

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U.S. stocks fell as the Dow Jones dropped over 100 points. Inflation slowed to 2.4% in September, slightly above expectations. BloomZ Inc. surged 97% after a new contract announcement, while Gritstone bio, Inc. plummeted 64% due to Chapter 11 filing.

Portfolio Pulse from Avi Kapoor

October 10, 2024 | 1:47 pm

GRTS

Gritstone Bio has voluntarily filed for Chapter 11 restructuring, leading to a decline in its share price.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 12:06 pm

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Gritstone Bio has voluntarily filed for Chapter 11 restructuring to preserve value and support its strategic alternatives process. The company is in talks with a potential stalking horse bidder and plans to present an agreement to the court soon.

Portfolio Pulse from Benzinga Newsdesk

October 10, 2024 | 9:51 am

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FTX's reorganization plan to repay creditors up to $16.5 billion has been approved, potentially injecting billions into the crypto market. This could have a bullish impact on Bitcoin, as analysts predict up to $2.4 billion could flow back into the market.

Portfolio Pulse from Ivan Crnogatić

October 08, 2024 | 4:46 pm