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VNET

VNET Group, Inc has formed a strategic partnership with Shandong Hi-Speed Holdings Group Limited to develop renewable energy projects in northern China. The collaboration will focus on building a low-carbon energy system and computing power network infrastructures, including data centers, cloud computing, and big data. This partnership aligns with China's national strategy, East Data, West Computing. Additionally, VNET completed a $299 million equity investment from entities owned by Shandong Hi-Speed Holdings. VNET's stock price rose by 2.84% to $2.90 in premarket trading.

Portfolio Pulse from Shivani Kumaresan

December 28, 2023 | 12:54 pm

AGRI

MSS

WBUY

YI

The article highlights four consumer staples sector stocks that are currently oversold, with their Relative Strength Index (RSI) values near or below 30, suggesting potential undervaluation. AgriFORCE Growing Systems Ltd. (AGRI) filed for an offering and saw a 42% stock decline over the past month. 111, Inc. (YI) reported a wider Q3 loss but achieved revenue growth, with a 35% stock decline over the past month. Maison Solutions Inc. (MSS) announced a sales decline in Q2 and a 90% stock decline over the past month. Webuy Global Ltd (WBUY) reported a 62.4% revenue increase in H1 2023 but experienced a 30% stock decline over the past five days.

Portfolio Pulse from Avi Kapoor

December 28, 2023 | 12:31 pm

AAPL

MSFT

QQQ

SPY

TSLA

The S&P 500 Index is nearing a record high, with mixed opinions on the rally's sustainability. Analysts warn of a potential growth slowdown and profit recession, while others are bullish, expecting Federal Reserve rate cuts to boost the 2023 rally. The Dow Industrials have reached a record high, and the Nasdaq Composite also closed positively. Morgan Stanley's Lisa Shalett advises caution and suggests investing in securities with yield and companies with quality cash flows. In contrast, Jessica Inskip of OptionsPlay is bullish for 2024. SPDR S&P 500 ETF Trust (SPY) and Invesco QQQ ETF (QQQ) saw premarket gains, while Tesla (TSLA) rose over 1%, Apple (AAPL) gained after a favorable court ruling, and Microsoft (MSFT) was stable after a price target revision. Crude oil futures fell, and Asian markets were mostly up, with European markets trading lower.

Portfolio Pulse from Shanthi Rexaline

December 28, 2023 | 12:28 pm

PZG

Paramount Gold Nevada has completed a $15 million financing deal with Sprott Resource and Streaming Royalty Corp. This capital infusion is expected to support the company's mining projects and operations.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 12:01 pm

SAFE

Safehold Inc. (NYSE:SAFE) received mixed analyst ratings in the latest quarter, with 5 analysts offering views ranging from bullish to indifferent. The average 12-month price target is $23.8, down from $25.25, with a high estimate of $33.00 and a low of $19.00. Analysts from JP Morgan, Goldman Sachs, Truist Securities, RBC Capital, and Wedbush have made recent adjustments to their ratings and price targets. Safehold, a REIT focusing on ground leases, showed a revenue growth of 19.34% and a high net margin of -143.72%, but lags in ROE and ROA compared to industry averages. Its debt-to-equity ratio is below industry norms, indicating a sound financial structure.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 12:01 pm

MSTR

MicroStrategy (NASDAQ:MSTR) has received 5 bullish ratings from analysts in the past three months, with an upward trend in the 12-month price target, now averaging $675.0, an 18.38% increase from the previous average. Analyst Joseph Vafi of Canaccord Genuity has raised his price target multiple times, with the latest being $791.00. The company's financials show a market cap below industry average, a revenue growth of 3.27%, but struggles with profitability and debt management, indicated by a net margin of -110.8% and a high debt-to-equity ratio of 2.67.

Portfolio Pulse from Benzinga Insights

December 28, 2023 | 12:00 pm

EFSH

Shares of 1847 Holdings LLC (EFSH) are down in Thursday's premarket trading following the announcement of a 1-for-4 reverse stock split. The split will reduce the number of outstanding shares from approximately 3.43 million to 0.86 million and the float from 3.40 million to 0.85 million. The company's CEO, Ellery W. Roberts, stated the reverse split is part of a strategic restructuring to better position the company for future acquisitions. Despite a 29.8% year-over-year revenue increase in Q3 2023, EFSH shares dropped by 9.79% to $0.4689.

Portfolio Pulse from Nabaparna Bhattacharya

December 28, 2023 | 11:59 am

NBSE

Neubase Therapeutics has filed a prospectus supplement with the SEC for an offering of up to $10 million of shares of common stock. The filing is detailed in form 424B3, which indicates the company's intent to raise capital through the sale of equity.

Portfolio Pulse from Charles Gross

December 28, 2023 | 11:44 am

DOYU

DouYu International Holdings Limited has announced a plan to repurchase up to $20 million of its ordinary shares in the form of American Depositary Shares (ADSs) over a period of up to twelve months, starting from January 1, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 11:33 am

DBGI

Digital Brands Group has indicated in a filing dated December 27 that it may periodically offer and sell up to $1.8 million worth of shares of its common stock.

Portfolio Pulse from Charles Gross

December 28, 2023 | 11:25 am