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Equity Actions

ARKK

TSLA

Ark Invest, managed by Cathie Wood, sold Tesla shares worth $20.67 million last week through its Ark Innovation ETF. Despite the sale, Tesla remains ARK's top holding with a 10.46% weighting in the fund's portfolio. Tesla is set to report its Q3 results this week, with analysts expecting a decrease in earnings per share but a 10% increase in revenue year-over-year.

Portfolio Pulse from Shanthi Rexaline

October 15, 2023 | 3:40 pm

TSLA

Ahead of Tesla's Q3 earnings, Future Fund Managing Partner Gary Black suggests that Tesla should initiate a $10B stock buyback to prop up the sagging stock. He estimates a free cash flow of $53 billion over the next five years, even after Tesla funds investments in full-self driving, new Gigafactories, bots or any other capital expenditures. A $10 billion buyback over three years would offer a 38% return of the future free cash flow to shareholders without touching the existing $22 billion cash on the balance sheet.

Portfolio Pulse from Shanthi Rexaline

October 14, 2023 | 8:59 pm

AAPL

AMC

AMZN

BTCUSD

LCID

TSLA

Benzinga's weekly review of investor favorites included bullish views on Bitcoin, Apple, and Amazon, and bearish views on Tesla, Lucid Group, and AMC Entertainment. Anthony Scaramucci predicted Bitcoin could reach $150K-$250K with the launch of Bitcoin ETFs. Apple is expected to use Resin Coated Copper for the iPhone 17's mainboard, potentially leading to a slimmer device and cost-saving benefits. Amazon's NFL broadcast rights are seeing success with record viewership. Tesla warned of a likely reduction in the Model 3's tax credit. Lucid Group has yet to announce its Q3 delivery numbers, causing investor concern. AMC CEO Adam Aron was the victim of an extortion attempt.

Portfolio Pulse from Michael Cohen

October 14, 2023 | 1:20 pm

TSLA

President Joe Biden has announced $7 billion in funding for hydrogen hubs to develop clean hydrogen as an alternate energy source. This move counters Tesla Inc. CEO Elon Musk's skepticism about hydrogen as an energy source for vehicles. The Biden administration has selected seven regional clean hydrogen hubs to receive the funding, which is expected to catalyze over $40 billion in private investment and create tens of thousands of jobs.

Portfolio Pulse from Anan Ashraf

October 14, 2023 | 1:01 pm

CETY

Clean Energy Technologies (CETY) has entered into a sales agreement with Roth Capital Partners, LLC. According to the agreement, CETY may offer and sell up to $25M of its common stock from time to time.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 9:17 pm

ID

Parts ID has entered into a note purchase agreement to issue and sell a junior secured convertible promissory note of $1.1M to Lev Peker, the CEO and Director of the company, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 9:06 pm

ADI

Analog Devices has appointed James Mollica as interim CFO, effective from October 29, until a successor CFO is named.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 9:05 pm

MIRM

Mirum Pharmaceuticals Inc has filed for a stock shelf offering of 7.9 million shares by selling shareholders, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:59 pm

GRI

GRI Bio has filed for an offering of 4.1 million shares of common stock by a selling stockholder, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:56 pm

BTCUSD

GBTC

The U.S. Securities and Exchange Commission (SEC) has decided not to appeal the court decision on the Grayscale Bitcoin ETF. This decision could potentially pave the way for more widespread acceptance and adoption of Bitcoin ETFs.

Portfolio Pulse from Benzinga Newsdesk

October 13, 2023 | 8:55 pm