Streetbeat News

Equity Actions

DTSS

Datasea Inc. shares have declined following the announcement of a 1-for-15 reverse stock split. This corporate action typically indicates an attempt to boost the share price to meet exchange listing requirements or to attract new investors by making the stock appear more valuable.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 6:19 pm

IRBT

KAMN

RNAZ

TransCode Therapeutics, Inc. (RNAZ) shares fell by over 24% after pricing a common stock offering at $1.22 per share. Other stocks moved in Friday's mid-day session with notable gainers including Charge Enterprises (CRGE), Kaman Corporation (KAMN), and Mesa Air Group (MESA), among others. Losers included C3is Inc. (CISS), Azitra, Inc. (AZTR), and iRobot Corporation (IRBT). The market also reacted to various company announcements such as acquisitions, earnings reports, and analyst upgrades or downgrades.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 6:05 pm

MULN

Mullen Automotive has confirmed that no new warrants have been issued and no existing warrants have been exercised since the reverse stock split on December 21, 2023.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 5:38 pm

BOTJ

Bank of the James Financial Group, Inc. (NASDAQ:BOTJ) announced an increase in its quarterly dividend from $0.08 to $0.10 per share, a 25% rise. The dividend is payable on March 15, 2024, to shareholders of record as of March 1, 2024. Future dividends will depend on various factors and require Board approval.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 5:31 pm

ASTS

AST SpaceMobile, Inc. (NASDAQ:ASTS) stock plummeted after announcing the pricing of its $100 million public offering of Class A common stock at $3.10 per share. The company plans to sell 32,258,064 shares and may offer an additional 4,838,709 shares if the underwriter exercises its option. The proceeds are intended for general corporate purposes. The offering is expected to close on Jan. 23. The stock experienced a significant trading volume increase and a 25.5% price drop in response to the news.

Portfolio Pulse from Erica Kollmann

January 19, 2024 | 5:26 pm

GBTC

JPM

JPMorgan Chase & Co. analysts predict further outflows from Grayscale Bitcoin Trust (GBTC) due to high fees and competition from new spot Bitcoin ETFs. GBTC has already seen $1.5 billion in outflows and may face additional withdrawals of $1.5 billion. The bank's report suggests that GBTC's 1.5% management fee is too high compared to its peers, some of which offer zero fees. Other spot Bitcoin ETFs have seen $3 billion in inflows, indicating a shift from GBTC and futures-based ETFs.

Portfolio Pulse from Murtuza Merchant

January 19, 2024 | 5:18 pm

TGT

Target Corp (NYSE:TGT) has experienced a Golden Cross, a bullish technical indicator, as its 50-day SMA crossed over its 200-day SMA. The company, known for its dividend history and growth, has received positive analyst ratings from Morgan Stanley and Wells Fargo, with price targets raised to $165 and $155 respectively. Despite financial concerns, Target's long-term growth potential is supported by its dividend history, reasonable forward P/E ratio, and strategic initiatives.

Portfolio Pulse from Surbhi Jain

January 19, 2024 | 5:05 pm

AMZN

On CNBC, Stephanie Link announced that she has increased her investment in Amazon.com (AMZN).

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 5:03 pm

META

On CNBC, Stephanie Link announced that she has sold her position in Meta Platforms.

Portfolio Pulse from Benzinga Newsdesk

January 19, 2024 | 5:02 pm

AZTR

CISS

IRBT

KAMN

PCSA

TCN

U.S. stocks traded higher, with the Dow Jones gaining 150 points. Consumer sentiment surged to 78.8 in January, the highest since July 2021. Kaman Corporation (KAMN) soared 101% after an acquisition announcement by Arcline. Processa Pharmaceuticals (PCSA) surged 20% on expanding its program into breast cancer treatment. Tricon Residential (TCN) gained 28% after an acquisition agreement with Blackstone. C3is (CISS) plummeted 64% due to a public offering pricing. Azitra (AZTR) fell 29% after a public stock offering. iRobot (IRBT) dropped 28% amid reports the EU may block Amazon's acquisition.

Portfolio Pulse from Avi Kapoor

January 19, 2024 | 5:01 pm