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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

SPLP

Steel Partners Holdings has decided to abandon its previously announced reverse/forward unit split, which was scheduled to become effective on January 11, 2024. The reverse/forward unit split involved a 1-for-12,500 reverse unit split of its common units, immediately followed by a 12,500-for-1 forward unit split.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 10:32 pm

HBAN

Huntington Bancshares Incorporated (NASDAQ:HBAN) announced the retirement of Paul Heller, Chief Technology and Operations Officer, effective March 1, 2024. Heller has been with Huntington since 2012 and has significantly contributed to the company's technology and operations. Amit Dhingra, Kendall Kowalski, and Prashant Nateri have been named to the bank's executive leadership team in conjunction with Heller's retirement. All three have extensive experience in the industry and have been with Huntington for several years.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:40 pm

TTGT

TechTarget (NASDAQ:TTGT) and Informa PLC (LSE: INF.L) have announced a definitive agreement to combine Informa Tech's digital businesses with TechTarget, creating a new entity, New TechTarget. TechTarget shareholders will receive approximately $11.79 per share in cash and retain a 43% stake in the new company. Informa PLC will contribute its digital businesses and $350 million in cash for a 57% stake in New TechTarget. The combined company is expected to achieve double-digit organic revenue growth, 35%+ Adjusted EBITDA margins, and strong free cash flow within three years. The merger aims to create a leading global platform in B2B Data and Market Access, expanding TechTarget's addressable market and enhancing business resilience by entering new markets and buyer personas.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:37 pm

CMC

Commercial Metals Company (CMC) has announced a $500 million increase to its existing share repurchase program, signaling confidence in the company's financial health and a commitment to returning value to shareholders.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:31 pm

BETS

Bit Brother Limited (NASDAQ:BETS) experienced a significant stock price movement on Wednesday, following the announcement of a 1-for-1,000 reverse stock split approved by its board. The split is expected to be effective around Jan. 10. Trading was halted on Tuesday night and resumed on Monday. Despite an initial drop of 15%, shares rose by nearly 30%. The volatility was partly due to market chaos linked to a compromised SEC Twitter account, which falsely claimed Bitcoin ETF approvals.

Portfolio Pulse from Ryan Gustafson

January 10, 2024 | 9:30 pm

PRAX

Praxis Precision Medicines has announced its intention to conduct a proposed public offering of its common stock. However, the terms of the offering have not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:21 pm

TPHS

Trinity Place Holdings Inc. has entered into a stock purchase agreement with a lender under its corporate credit facility and an affiliate of that lender. The agreement involves the sale of stock, which may impact the company's share structure and financial stability.

Portfolio Pulse from Benzinga Newsdesk

January 10, 2024 | 9:18 pm