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Equity Actions

ABBV

AbbVie Inc. (NYSE:ABBV) has experienced a 15.38% increase in short interest since its last report, with 13.23 million shares sold short, representing 0.75% of its float. The current short interest suggests a bearish sentiment among investors, although it is lower than the peer group average of 4.40%. It would take approximately 2.21 days for traders to cover their short positions based on average trading volume.

Portfolio Pulse from Benzinga Insights

November 24, 2023 | 1:45 pm

BITF

Bitfarms shares have declined following the announcement of a C$60 million private placement with U.S. institutional investors. The capital raise may dilute existing shareholders but also provides the company with additional funds for operations or expansion.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 1:35 pm

YOSH

Yoshiharu Global Co. (NASDAQ:YOSH), a California-based Japanese ramen restaurant operator, announced a 1-for-10 reverse stock split to regain compliance with Nasdaq's Minimum Bid Price Requirement. The split will be effective on November 27, 2023, with trading on a post-split basis starting November 28, 2023. The split was approved by stockholders and the Board, reducing Class A and Class B common stock to 1,194,000 and 100,000 shares respectively. Adjustments will be made to outstanding equity awards, warrants, and exercise prices. No fractional shares will be issued, and the authorized capital stock will remain unchanged.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 1:33 pm

VS

Versus Systems Inc. (NASDAQ:VS) has received a strategic investment from Cronus Equity Capital Group, LLC (CECG), which will result in CECG acquiring up to 51% of Versus' issued and outstanding shares. The investment includes two tranches: the first, already completed, involved the issuance of 15,838,441 shares, and the second, expected next week, will add 8,888,920 shares, both at a premium to the recent average closing price.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 1:32 pm

GIGM

GigaMedia has announced the appointment of Chih-Hong Tsai and Wan-Wan Lin as new independent non-executive directors. This change comes after the departure of Casey Kuo-Chong Tung and Billy Bing-Yuan Huang from their director positions. The company is undergoing a board reshuffle which could influence its governance and strategic direction.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 12:47 pm

BITF

Bitfarms Ltd. has entered into subscription agreements with institutional investors for a private placement of approximately C$60 million, issuing 44.44M shares at C$1.35 each. The deal includes warrants for up to 22.22M shares with an exercise price of C$1.61, valid for three years. The funds will be used to purchase miners, expand infrastructure, and improve working capital.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 12:33 pm

EIGR

Moshe Arkin has reported a 10.09% stake in Eiger Biopharmaceuticals and sent a letter to the board suggesting that the company should file a New Drug Application (NDA) for Lonafarnib, a potential treatment in their pipeline.

Portfolio Pulse from Charles Gross

November 24, 2023 | 11:16 am

VWAGY

Volkswagen (OTC:VWAGY) is developing a new entry-level electric vehicle platform, the A-Main Platform, targeting the Chinese market. The platform, an evolution of the MEB, will be ready by 2026 and will heavily involve Chinese suppliers. This move comes after Volkswagen lost its top position in China to BYD and faces competition from local EV makers. Volkswagen Group China Technology Company (VCTC) is developing the platform with a 1 billion euro investment and plans to hire over 2,000 people. Additionally, Volkswagen is collaborating with Xpeng Inc on two new EV models for launch by 2026.

Portfolio Pulse from Benzinga Neuro

November 24, 2023 | 9:37 am

AXP

American Express Inc. (NYSE:AXP) stock has seen a 14.27% increase over the past month and a 6.25% increase over the past year. Currently trading at $163.79, its P/E ratio is lower than the Consumer Finance industry average, which could indicate undervaluation or weaker growth prospects.

Portfolio Pulse from Benzinga Insights

November 23, 2023 | 8:30 pm

WM

Waste Management Inc. (NYSE:WM) stock is currently trading at $171.77, having increased by 5.50% over the past month and 4.44% over the past year. The company's P/E ratio of 30.39 is lower than the industry average of 37.88, which could suggest that the stock is undervalued or that shareholders expect lower future performance.

Portfolio Pulse from Benzinga Insights

November 23, 2023 | 6:30 pm