Streetbeat News

Equity Actions

CNP

CenterPoint Energy has entered into an equity distribution agreement to offer and sell shares of common stock up to a value of $500 million, as disclosed in their 8-K filing on January 10.

Portfolio Pulse from Charles Gross

January 11, 2024 | 11:08 am

PRAX

Praxis Precision Medicines has terminated its sales agreement with Jefferies, which previously allowed the company to offer and sell shares of common stock up to $75 million.

Portfolio Pulse from Charles Gross

January 11, 2024 | 11:07 am

DQ

Daqo New Energy, a leading manufacturer of high-purity polysilicon for the global solar PV industry, has announced its intention to repurchase approximately 14.55 million of its American Depositary Shares (ADSs) for about $491 million by the end of 2023. This buyback plan reflects the company's confidence in its financial strength and commitment to delivering value to its shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 10:53 am

BLK

BTCUSD

Cathie Wood, CEO of ARK Investment Management, disclosed that at least 25% of her personal net worth is invested in Bitcoin, excluding her holdings in ARK and real estate. This revelation aligns with ARK Invest's recent SEC approval for the Ark21Shares Bitcoin ETF and their collaboration with BlackRock Inc. to reduce management fees for their spot Bitcoin ETFs to attract investors. Bitcoin was trading at $46,050.65, up 0.38% at the time of the article.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 10:32 am

ARGT

NDAQ

Caja de Valores, Argentina's Central Securities Depository, has implemented a new technology platform using Nasdaq's CSD technology to modernize the country's post-trade infrastructure. This platform aims to enhance operational capabilities, future-proof the business, and enable growth opportunities. The launch marks the end of a multi-year initiative to modernize Argentina's capital markets infrastructure.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 9:15 am

SDHC

Smith Douglas Homes has priced its IPO at $21 per share, offering 7,692,308 Class A common shares. The shares are set to begin trading on the NYSE under the ticker 'SDHC' on January 11, 2024, with the offering expected to close on January 16, 2024, pending customary closing conditions.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:58 am

CACO

Caravelle International Group (NASDAQ:CACO), a global ocean technology company, has completed a private placement deal with two institutional investors. The deal, which closed on January 10, 2024, involves an initial tranche of $3.3 million, with $1.5 million already paid as an advance. The remaining $1.8 million will be paid upon meeting post-closing conditions. This private placement is part of a larger funding round that could reach up to $6.8 million.

Portfolio Pulse from Benzinga Newsdesk

January 11, 2024 | 6:22 am

ARKW

TSLA

Elon Musk, CEO of Tesla and SpaceX, discussed Bitcoin during an X Space event, expressing openness to using Bitcoin on X but maintaining a passive stance towards it. He compared Bitcoin to gold and noted it's not suitable for payments. Musk revealed personal holdings in Dogecoin and SpaceX's investment in Bitcoin. The SEC approved the ARK 21Shares Bitcoin ETF, which will start trading with a reduced expense ratio and a fee waiver incentive. Musk also commented on Dogecoin in response to the SEC's tweet about Bitcoin Spot ETFs. Bitcoin's value rose to $47,500 following the news.

Portfolio Pulse from Mehab Qureshi

January 11, 2024 | 4:52 am

SHPW

Howard Marks, co-founder of Oaktree Capital, criticized the Federal Reserve's 'activist' approach, suggesting that the U.S. hasn't had a free market in decades. He warned that a return to low-interest rates could lead to poor investment behaviors and inflate asset prices, potentially causing bubbles and exacerbating wealth inequality. Marks emphasized the problems of the easy-money era before the pandemic and the risk of economic overheating leading to inflation. His comments come amid expectations that the Fed may cut interest rates again, with recent minutes suggesting rates are at or near their peak.

Portfolio Pulse from Benzinga Neuro

January 11, 2024 | 2:00 am

BLK

GBTC

SPY

The SEC approved applications for spot Bitcoin ETFs, including Grayscale Bitcoin Trust (GBTC) and others. The approval follows a court ruling against the SEC, directing it to review Grayscale's application. The article compares a $1,000 investment in Bitcoin from July 1, 2013, to its value today, highlighting a hypothetical return of over 52,000%. It also compares returns from investments in SPY, Tesla, and Apple over the same period, with Bitcoin outperforming all.

Portfolio Pulse from Chris Katje

January 10, 2024 | 11:11 pm