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Equity Actions

GDHG

Golden Heaven Group Holdings Ltd. (NASDAQ:GDHG) saw its shares plummet by nearly 90% after announcing its intention to enter into an operating lease framework agreement with a leading Chinese amusement group. The agreement aims to leverage the partner's strong presence in China's amusement park industry to enhance Golden Heaven's market position and strategic expansion. Despite the potential benefits outlined by CEO Jin Qiong, the market reacted negatively, with the stock experiencing a significant sell-off on high volume, leading to trading halts.

Portfolio Pulse from Ryan Gustafson

December 07, 2023 | 9:09 pm

SEAT

Vivid Seats Inc (NASDAQ:SEAT) stock dropped 16.9% to $6.76 after announcing a secondary underwritten public offering. A selling stockholder is offering 18.5 million Class A shares with an option for an additional 2.775 million shares. Vivid Seats will not receive proceeds from the sale. Citigroup, Morgan Stanley, and BofA Securities are the joint book-running managers. The stock has a 52-week range of $5.58 to $9.89.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 9:07 pm

BK

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ETSY

PNC

SHOP

SQ

TFC

Marc Chaikin of Chaikin Analytics recommends selective investment in retail-related stocks and conservative banks for a year-end rally. He favors Etsy, Shopify, and Block in e-commerce and retail payments, suggesting immediate purchase of Etsy and Block, but advises waiting for a better entry point for Shopify. Chaikin also recommends PNC Financial Services, Bank of New York Mellon, and Truist Financial in the banking sector, highlighting their potential due to a favorable interest rate environment. He warns against investing in Dollar General, tech stocks, and healthcare at the moment.

Portfolio Pulse from Neil Dennis

December 07, 2023 | 9:03 pm

GME

GameStop Corporation (NYSE:GME) announced a new investment policy allowing investment in equity securities, directed by Ryan Cohen. The company reported improved quarterly losses and has $1.21 billion in cash with no long-term debt. Analyst Michel Pachter criticized the move, calling it 'inane' and 'alarming'. GME shares initially dropped but rose 6.3% to $15.77 following the investment decision news.

Portfolio Pulse from Chris Katje

December 07, 2023 | 8:22 pm

TFX

Janus Henderson Group Plc has disclosed a 10.3% stake in Teleflex Incorporated as of November 30, 2023, according to a 13G filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 7:53 pm

FRSX

Foresight Autonomous Holdings ADR (NASDAQ:FRSX) shares plummeted by 31.7% to $1.27 after announcing a registered direct offering of 4.5 million ADSs at $1.00 per ADS. The offering, which includes participation from the CEO, is expected to close around December 11 and aims to raise approximately $4.5 million before fees for general corporate purposes and working capital. FRSX's 52-week trading range is between $1.14 and $4.58.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 7:32 pm

PHIO

Phio Pharmaceuticals Corp's stock plummeted by 40% after the company announced the exercise of warrants for $2.8 million in gross proceeds at a reduced price of $1.33 per share. The warrants were originally issued at higher prices between 2018 and 2023. The funds raised are before fees and expenses, and the shares are from previously registered offerings under Form S-1 and Form S-3. PHIO's 52-week trading range is between $0.88 and $12.27.

Portfolio Pulse from Henry Khederian

December 07, 2023 | 7:25 pm

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ARKK

ARKW

PLTR

Stephen Cohen, co-founder and president of Palantir Technologies Inc (NYSE:PLTR), sold a significant amount of his shares, causing a 3% drop in pre-market trading. He sold 500,000 shares on 12/01/23 and 156,100 shares on 12/04/23 for around $19-$20 each, totaling nearly $13 million. In contrast, Cathie Wood's Ark Investment Management purchased 1,578,738 Palantir shares for $27.04 million across three of its ETFs: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). Despite a recent decline in Palantir's stock value, Ark's investment aligns with its focus on disruptive technologies. Palantir stock closed 6.4% lower at $17.13 on Wednesday and was up 0.05% by noon on Thursday.

Portfolio Pulse from Surbhi Jain

December 07, 2023 | 7:20 pm

DGX

Universal DX has completed an initial closing of its Series B financing round, raising approximately $70 million. Among the investors is Quest Diagnostics, a company known for providing diagnostic information services. The funds will be used to advance Universal DX's colorectal cancer screening blood test, which will be brought to patients and providers in the United States through a strategic collaboration with Quest Diagnostics.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 6:57 pm

QGEN

Goldman Sachs has upgraded Qiagen NV (NYSE:QGEN) from Neutral to Buy, citing its steady income from selling sample preparation tools and diagnostics, defensive growth potential, and favorable valuation compared to the sector. Qiagen's business is considered resilient, even in times of reduced spending on big equipment, and is trading at a significant discount to the sector despite high single-digit to low double-digit core organic growth over the past year. The company's end market exposure and defensive nature are seen as advantages in the current uncertain environment, particularly in Pharma R&D and Capex spending. QGEN shares saw a 0.95% increase to $41.84.

Portfolio Pulse from Vandana Singh

December 07, 2023 | 6:39 pm