Streetbeat News

Corporate Responsibility

KSCP

Knightscope, Inc. (NASDAQ:KSCP) has hired Mark R. Basile, Esq. and The Basile Law Firm P.C. to investigate and take legal action against potential market manipulation related to the company's stock performance. This follows the publication of research papers by Capybara Research, which Knightscope claims contain misinformation. Basile has a history of battling market manipulation and dilution funding, including a landmark decision against Adar Bays. Knightscope's CEO, William Santana Li, emphasizes the importance of their work for national security and the need to protect retail shareholders from short and distort campaigns.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:31 pm

SSNT

SilverSun Technologies Inc (NASDAQ:SSNT) stock surged over 100% after the announcement that Jacobs Private Equity II will invest $1 billion in the company. Jacobs will take over as CEO and majority stockholder, with plans to spin off the current business and create a new platform for acquisitions in an undisclosed industry, as well as rebrand the company. The investment and leadership change signal a strategic shift, leveraging Jacobs' experience in building large companies through mergers and acquisitions.

Portfolio Pulse from Henry Khederian

December 04, 2023 | 2:21 pm

CG

MCD

McDonald's Corp (NYSE:MCD) is taking a bold step by acquiring Carlyle Group Inc's (NASDAQ:CG) minority stake in its China business, aiming for aggressive expansion despite a consumer slowdown and geopolitical tensions. This move goes against the trend of multinationals scaling back in China. The market for limited-service restaurants in China is expected to grow 4% annually through 2025, with McDonald's holding a 70% share in the burger segment.

Portfolio Pulse from Lekha Gupta

December 04, 2023 | 2:19 pm

TWLO

Twilio Inc. has announced a new workforce restructuring plan to streamline operations, which includes the elimination of approximately 5% of its current workforce. The company expects to incur charges of about $25M-$35M in connection with the workforce reduction, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:18 pm

MCOM

Micromobility.com Inc. (NASDAQ:MCOM) CEO Salvatore Palella addresses shareholders, outlining strategic initiatives for profitability and market expansion. The company is pivoting to branded retail and profitable sharing services, with significant cost reductions in Q2. They are introducing Long-Term Rentals (LTR) in key cities and integrating fintech payment solutions, with plans to expand retail outlets in various U.S. cities. MCOM is negotiating a loan leveraging IP and pursuing M&A activities, focusing on profitable growth. The CEO acknowledges past challenges, particularly in the media business segment, and emphasizes a commitment to financial sustainability and shareholder value.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:17 pm

HIMS

Hims & Hers Health, Inc. (NYSE:HIMS) has launched 'Weight Loss by Hims & Hers', a personalized and affordable weight management program. The program includes medication management, digital tracking tools, and educational content. Obesity medicine expert Dr. Craig Primack has joined as SVP of Weight Management. The program addresses nutrition, behavior, movement, and medical treatment, and offers a holistic approach to weight loss. It is the company's second major category expansion following the launch of Heart Health by Hims.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:16 pm

MULN

Mullen Automotive, Inc. has engaged The Basile Law Firm P.C. to review its past financings and provide strategic advice for future funding initiatives. The company emphasizes its commitment to transparency and sustainable growth, and values the support of its active shareholder base. Mark R. Basile, Esq., known for his expertise in securities litigation and improving company operations, is expected to contribute to Mullen's strategic initiatives and core business value.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:16 pm

XPOF

Xponential Fitness has agreed to acquire Lindora, a metabolic health brand. The deal includes 31 Lindora clinics becoming Xponential franchise locations and the acquisition of Lindora's intellectual property. Xponential plans to franchise the brand nationally and globally. The acquisition is expected to be accretive to AUV and Adjusted EBITDA immediately. The transaction is set to close in early 2024, with no financial terms disclosed.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:03 pm

ATNF

180 Life Sciences Corp. has engaged a financial advisor to explore strategic alternatives to enhance shareholder value. These alternatives could include a sale, merger, business combination, or other strategic transactions. The company has not set a definitive timeline for this process and does not intend to disclose further developments unless its Board of Directors approves a specific action or otherwise concludes the review of strategic alternatives.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 2:01 pm

LWLG

Lightwave Logic, Inc. (NASDAQ:LWLG) issued a shareholder letter providing a corporate update for 2023. The company, which specializes in electro-optic polymers for data transmission, highlighted a transformational year with its first commercial material supply and license agreement for Perkinamine®. Lightwave Logic expanded its laboratory production facilities, added key team members, and fortified its intellectual property with new patents. The company is engaging with tier-1 corporations and has received interest in its polymer modulators for 800G transceiver programs. Lightwave Logic's technology has shown potential in AI markets and datacenter applications. CEO Dr. Michael Lebby will discuss these updates in a fireside chat with Benzinga All-Access hosts.

Portfolio Pulse from Benzinga Newsdesk

December 04, 2023 | 1:45 pm