Streetbeat News

Corporate Responsibility

NVO

Sen. Bernie Sanders criticized the high prices of the diabetes drug Ozempic, produced by Novo Nordisk (NYSE:NVO), and is considering hearings and a meeting with the company's CEO to discuss price reductions. Sanders highlighted the disparity between the drug's production cost, less than $5 a month, and its selling price, nearly $1,000 a month in the U.S. Novo Nordisk defended its pricing, citing significant investments in research and development.

Portfolio Pulse from Rounak Jain

March 30, 2024 | 8:19 am

META

Elon Musk has accused Meta Platforms Inc. (NASDAQ:META) of falsely claiming credit for sales that originated from his platform, X (formerly Twitter), amidst a $7 billion lawsuit filed by advertisers against Meta's Facebook and Instagram for inflating ad viewership. This accusation adds to the ongoing rivalry between Musk and Meta's co-founder, Mark Zuckerberg, especially after Musk's acquisition of X in 2022.

Portfolio Pulse from Rounak Jain

March 30, 2024 | 5:01 am

DOGEUSD

ETHUSD

SOLUSD

Vitalik Buterin, Ethereum co-founder, criticizes the current trend of meme coins for lacking innovation and containing offensive content. He advocates for meme coins that support public goods and highlights the potential of 'Robin Hood games' like Axie Infinity, which may benefit low-income users. Buterin emphasizes the need for high-quality, positive projects in the crypto space.

Portfolio Pulse from Chris Katje

March 29, 2024 | 7:38 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

META

A study found AI is over three times less predictive for depression in Black Americans' Facebook posts compared to white individuals. Conducted by U.S. researchers and published in the Proceedings of the National Academy of Sciences, the study highlights racial disparities in AI's effectiveness in mental health assessment through social media, specifically on Meta Platforms Inc.'s Facebook. This underscores the ongoing issue of bias in AI technologies and the need for more inclusive technology development.

Portfolio Pulse from Rounak Jain

March 29, 2024 | 11:51 am

META

Meta Platforms Inc. (NASDAQ:META) is set to discontinue the Facebook News feature in the U.S. and Australia as part of its strategy to reduce focus on news and political content. The decision follows the feature's closure in the U.K., France, and Germany last year. Users will still be able to access news articles through links and news organizations can post and promote content on Facebook. This move is in response to criticism over misinformation and political polarization.

Portfolio Pulse from Rounak Jain

March 29, 2024 | 9:38 am

TSLA

German Chancellor Olaf Scholz has expressed support for the expansion of Tesla Inc.'s Gigafactory in Berlin, comparing its potential growth to Ford's Cologne plant. Scholz condemned a recent arson attack on the factory, calling it a 'terrorist act' and emphasizing the need for increased security. Tesla aims to expand the Berlin factory's capacity for battery production to 100-gigawatt hours and car production to 1 million units annually, despite protests.

Portfolio Pulse from Anan Ashraf

March 29, 2024 | 6:39 am

TSLA

Elon Musk, CEO of Tesla Inc, criticized the movie industry for underappreciating manufacturing compared to invention, highlighting the significant challenges in scaling production. Musk emphasized the 'insane pain' of achieving high-volume, positive-margin production over creating prototypes. He also mentioned Tesla's efforts to scale up production of the Cybertruck, aiming for 250,000 units annually, though admitting the target won't be met until 2025 due to production challenges.

Portfolio Pulse from Anan Ashraf

March 29, 2024 | 5:15 am

DIS

Jeffrey Sonnenfeld, a prominent business analyst, praised Disney's CEO Robert Iger as a 'wizard' amid an ongoing proxy battle with activist investor Nelson Peltz. Sonnenfeld appeared on CNBC's Last Call, contrasting Iger's leadership positively against Peltz, whom he described as a 'failing financier.' The proxy fight has been a focal point of discussion, with opinions on Disney's management and future prospects divided among industry experts.

Portfolio Pulse from Benzinga Neuro

March 29, 2024 | 3:02 am