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PHUN

Phunware Inc (NASDAQ:PHUN) shares plummeted after announcing a $7 million registered direct offering of approximately 87.5 million shares at 8 cents per share. The offering was priced at-the-market under Nasdaq rules. Proceeds are intended for working capital and corporate purposes, including product initiatives. This follows a surge in Phunware shares due to former President Donald Trump's Iowa caucus win, recalling Phunware's past work on Trump's 2020 campaign app. PHUN stock dropped 61.1% to $0.1648 post-announcement.

Portfolio Pulse from Adam Eckert

January 17, 2024 | 1:49 pm

PHUN

Phunware Inc. has announced a registered direct offering priced at-the-market under Nasdaq rules, amounting to $7 million. This has led to a decline in the company's share price.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:48 pm

REBN

Reborn Coffee, Inc. has announced a 1-for-8 reverse stock split. This corporate action is typically used by companies to boost their share price by reducing the number of shares outstanding, which can help them meet minimum price requirements for stock exchanges and appear more attractive to investors. However, reverse splits can also be perceived negatively as they may signal that a company is in distress and trying to avoid delisting. The immediate effect on the stock price is an increase in the per-share price, but the market capitalization remains the same since the value of the company does not change.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:32 pm

DATS

MARK

MMAT

PHUN

ROI

SLDP

DatChat, Inc. (NASDAQ:DATS) shares plummeted by approximately 33% in pre-market trading due to the announcement of a proposed underwritten public offering of common stock. Other stocks experienced significant movement in pre-market trading, with some notable gainers including RiskOn International, Inc. (NASDAQ:ROI), Meta Materials Inc. (NASDAQ:MMAT), and Solid Power, Inc. (NASDAQ:SLDP), while losers included Phunware, Inc. (NASDAQ:PHUN) and Remark Holdings, Inc. (NASDAQ:MARK).

Portfolio Pulse from Avi Kapoor

January 17, 2024 | 1:18 pm

GSK

HLN

PFE

GSK plc has sold 300 million shares of Haleon plc, raising approximately £978 million. Post-sale, GSK's stake in Haleon is reduced to about 4.2%. Both GSK and Pfizer, which holds a 32% stake in Haleon, have agreed not to sell any more shares for 60 days. This is the third time GSK has reduced its holding in less than a year. GSK's shares saw a slight increase, while Haleon's shares dropped in the premarket session.

Portfolio Pulse from Vandana Singh

January 17, 2024 | 1:14 pm

CNEY

CN Energy Group announced a share consolidation, where every 30 issued Class A ordinary shares will be combined into one Class A ordinary share, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:12 pm

MYO

Myomo, Inc. has announced a registered direct offering of 1,578,948 shares of its common stock, priced at $3.80 per share, aiming to raise $6 million. This capital raise could dilute current shareholders but also provides the company with additional funds for operations, development, and potential expansion.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:06 pm

DATS

DatChat, Inc. (NASDAQ:DATS) has announced the pricing of an underwritten public offering of 972,972 shares at $1.85 per share, aiming to raise approximately $1.8 million. The offering includes an option for underwriters to purchase an additional 145,945 shares to cover over-allotments. EF Hutton LLC is the sole book-runner, and the offering is expected to close on January 19, 2024. The shares are offered under a shelf registration statement declared effective by the SEC on December 6, 2022.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 1:06 pm

TASK

TaskUs (NASDAQ:TASK) received mixed analyst ratings with an updated average 12-month price target of $13.25, reflecting an 8.16% increase from the previous target. Citigroup and JP Morgan raised their price targets, while Morgan Stanley lowered theirs. TaskUs's financials show a market cap below industry average, a -2.8% revenue decline, but strong net margin, ROE, and ROA. The company's debt-to-equity ratio is also below industry average.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 1:01 pm

PAY

Paymentus Holdings (NYSE:PAY) has been analyzed by 5 analysts, showing a consensus towards a neutral stance with 4 indifferent ratings and 1 somewhat bullish. The average 12-month price target is $17.1, a 25.55% increase from the previous $13.62. Analysts from Wells Fargo, JP Morgan, Raymond James, Wedbush, and Goldman Sachs have raised their price targets, with the highest at $18.00 and the lowest at $16.00. Paymentus Holdings offers electronic bill payment services and has shown strong revenue growth of 18.94% as of September 30, 2023, but has a lower market cap, below-average net margin, and ROE compared to industry peers, while its ROA and debt management are favorable.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 1:00 pm