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Equity Actions

GRAM

Equity research firm Zuanic & Associates initiated coverage of Gold Flora (OTC:GRAM) with an Overweight rating, citing the company's strong position in the California cannabis market. The market, despite challenges, shows growth potential with Gold Flora well-placed to capitalize on it. The company, post-merger with The Parent Company, has a significant retail chain and brand presence, financial stability with $32 million in cash and negligible net debt, and plans for expansion and increased cultivation capacity. The valuation suggests a compelling opportunity, and while risks exist, the company's strategic positioning could mitigate them.

Portfolio Pulse from Nicolás Jose Rodriguez

January 12, 2024 | 2:55 am

BLK

Rick Rieder, CIO of global fixed income at BlackRock Inc (NYSE:BLK), predicts stocks could surge up to 12% in 2024, dismissing recession fears. He sees potential in the S&P 500 surpassing 5,300 points, driven by strong Big Tech performance and sectors like healthcare and defense. Rieder's view contrasts with other analysts predicting a recession due to consumer debt burdens.

Portfolio Pulse from Benzinga Neuro

January 12, 2024 | 1:45 am

ARKB

BRRR

BTCW

DEFI

FBTC

GBTC

IBIT

Bitcoin ETFs made a historic debut with over $4 billion in inflows on their first trading day. Blackrock's iShares Bitcoin Trust ETF (IBIT) led with $1 billion, while Grayscale's Bitcoin Trust (GBTC) topped with $2 billion after converting to a spot Bitcoin ETF. Fidelity's Wise Origin Bitcoin Fund (FBTC) and ARK 21Shares Bitcoin ETF (ARKB) also saw significant inflows. Other funds like Valkyrie, WisdomTree, and Hashdex had inflows below $10 million. Bitcoin was trading at $46,279 with a market cap of $900 billion.

Portfolio Pulse from Piero Cingari

January 11, 2024 | 11:12 pm

SVFD

Save Foods, Inc. has filed a prospectus related to the potential resale of up to 6.7 million shares of its common stock from time to time. The filing was made through an S-1 form with the relevant regulatory authorities.

Portfolio Pulse from Charles Gross

January 11, 2024 | 10:31 pm

CIVI

Vitol Holding has reported a 7.1% passive stake in Civitas Resources, according to a 13G filing.

Portfolio Pulse from Charles Gross

January 11, 2024 | 10:13 pm

CMC

CMP

HL

Stifel analyst Vincent Anderson maintained a Buy rating on Compass Minerals Intl. (CMP) but lowered the price target from $75 to $60. Commercial Metals Company (CMC) increased its share buyback program by $500 million to a total of $850 million. Hecla Mining Company (HL) reported preliminary silver and gold production for 2023, with silver production slightly up despite challenges and gold production down 14%. Hecla expects to reach full production at the Lucky Friday mine in Q1 2024 and aims for 20 million ounces of silver production by 2025.

Portfolio Pulse from Austin DeNoce

January 11, 2024 | 9:53 pm

DECA

Denali Capital Acquisition Corp. (DECA) has extended the deadline to complete a business combination by one month, moving it from January 11, 2024, to February 11, 2024. This extension follows a deposit of $50,000 into the company's trust account, as per the amended terms of the company's governing documents.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:32 pm

AAPL

Wanda Austin is set to join Apple's board of directors while Al Gore and James Bell are retiring from their positions on the board. This change in board composition could bring fresh perspectives to Apple's strategic direction.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:31 pm

LMND

Lemonade, Inc. has extended its Customer Acquisition Cost (CAC) financing agreement with General Catalyst until December 2025. This extension allows Lemonade to continue its growth strategy with the support of General Catalyst, a significant investor in the company.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:30 pm

SUM

Summit Materials, Inc. (NYSE:SUM) shareholders have approved the issuance of shares as part of the Transaction Agreement with Argos USA, a subsidiary of Cementos Argos S.A. The approval includes issuing 54,720,000 shares of Class A common stock and one share of preferred stock to Cementos Argos and its affiliates. The transaction, expected to close on January 12, 2024, will create the fourth-largest cement platform in the U.S. and is anticipated to generate annual synergies of at least $100 million, with significant free cash flow per share increase.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:28 pm