Streetbeat News

Equity Actions

BLK

CSIQ

Recurrent Energy, a subsidiary of Canadian Solar Inc. (CSIQ), has secured a $500 million investment from BlackRock (BLK) to expand its renewable energy platform. The investment represents 20% of Recurrent Energy's shares on a fully diluted basis. Canadian Solar will retain the majority ownership. The capital will help Recurrent Energy grow its project pipeline and transition to a long-term owner and operator, particularly in the U.S. and Europe. The company has a significant development pipeline and expects to have substantial solar and storage operations by 2026. The transaction excludes certain regions and is subject to regulatory approvals. BlackRock's investment is from its Climate Infrastructure fund, aligning with the global trend towards renewable energy, with solar capacity expected to triple by 2027.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:45 pm

RDFN

Redfin (NYSE:RDFN) has experienced a 10.63% increase in short interest since its last report, with 21.84 million shares sold short, representing 28.11% of its float. The current short interest suggests a bearish market sentiment, as it takes an average of 3.2 days for traders to cover their short positions. Redfin's short interest is significantly higher than its peer group average of 6.04%. While high short interest can indicate potential downward pressure on a stock, it can also be a bullish sign if investors expect a short squeeze.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 1:45 pm

ELV

Elevance Health (NYSE:ELV) has seen a 13.04% decrease in short interest since its last report, with 1.88 million shares sold short, representing 0.8% of its float. The average time to cover these short positions is 2.06 days. A decrease in short interest can indicate a more bullish sentiment among investors. Elevance Health's short interest is below its peer group average of 3.54%.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 1:45 pm

RSTN

RDE, Inc. (OTCQB:RSTN), owner of Restaurant.com and CardCash.com, has applied to uplist its common shares to the Nasdaq Capital Market. The move follows a transformational year, including the acquisition of CardCash.com, which enhances cross-selling opportunities and gift card options. The uplisting aims to increase corporate visibility and shareholder value, but approval from Nasdaq and meeting listing criteria are pending with no guarantee of success.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:38 pm

BABA

ENSC

RUM

Rumble (RUM) announced the public launch of Rumble Studio, leading to a 19% stock increase. Ensysce Biosciences (ENSC) revealed that the FDA granted Breakthrough Therapy Designation for PF614-MPAR, causing a 59% surge in its stock. Bloomberg reported that China is considering a $278B stock market rescue package, which resulted in a 7% rise in Alibaba's (BABA) shares.

Portfolio Pulse from ryanfaloona@benzinga.com

January 23, 2024 | 1:37 pm

NUTX

Nutex Health Inc. has announced the pricing of a registered direct offering, aiming to raise $10 million through the issuance of 66,666,666 shares of common stock and accompanying warrants. Each share is priced at $0.15 and comes with a warrant to purchase additional shares.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:36 pm

SBET

SharpLink Gaming Ltd. (SBET) sold its fantasy sports and sports game development units to RSports Interactive for $22.5 million in cash. The sale allows SharpLink to repay $14.9 million in debt, redeem a senior convertible debenture for $4.5 million, and become free of interest-bearing debt. The transaction is expected to reduce operating expenses, improve cash flow, strengthen the balance sheet, and help SharpLink regain Nasdaq compliance. COO Chris Nicholas resigned following the sale. The deal focuses SharpLink on performance marketing for sports betting and iGaming.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:35 pm

CWS

Eddy Elfenbein, a finance blogger and ETF manager, has outperformed Berkshire Hathaway and ARK Invest with his 'set and hold' strategy through the AdvisorShares Focused Equity ETF (CWS). He creates a yearly 'buy list' of 25 stocks, rarely changing the holdings, and has achieved a 110% return since inception. His 2024 buy list includes companies like Hershey, Intuit, Moody's, HEICO, Silgan Holdings, and Aflac. Elfenbein's 'fulcrum fee' structure aligns his interests with investors, and his fund is nearing $100 million in assets under management.

Portfolio Pulse from Jeannine Mancini

January 23, 2024 | 1:30 pm

KAVL

Kaival Brands Innovations Group has announced a 1-for-21 reverse stock split, which will change the CUSIP number for its Common Stock to 483104402. This corporate action is typically undertaken by companies aiming to boost their stock price by reducing the number of shares outstanding, which can also lead to meeting minimum bid price requirements for exchanges.

Portfolio Pulse from Benzinga Newsdesk

January 23, 2024 | 1:16 pm

NNDM

Nano Dimension (NYSE:NNDM) has seen a decrease in short interest, with the current short percent of float at 5.82%, representing 13.54 million shares. The short interest has fallen by 8.49% since the last report, and it would take about 7.78 days for traders to cover their short positions based on average trading volume. This decline in short interest may indicate a more bullish sentiment among investors, although it does not necessarily predict a near-term rise in stock price. Nano Dimension's short interest is below its peer group average of 6.86%.

Portfolio Pulse from Benzinga Insights

January 23, 2024 | 1:15 pm