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KVYO

SHOP

Boston-based marketing automation company Klaviyo Inc. (NYSE:KVYO) went public last month with backing from Canadian e-commerce giant Shopify Inc. (NYSE:SHOP). Despite a 3% drop since its market debut, Klaviyo has remained resilient. The company listed its shares at an IPO pricing range of $27-$29, opened at $32.06, and targeted a fully diluted valuation of approximately $9 billion. Klaviyo has seen substantial revenue growth, with a 51% increase in the latest quarter bringing its revenue to $164.6 million. Shopify holds approximately 11% of Klaviyo's shares and made a $100 million investment last year.

Portfolio Pulse from Aditi Ganguly

October 12, 2023 | 2:40 pm

OPGN

OpGen has announced a Preferred Stock Purchase Agreement and received an advanced payment of €750,000 related to the sale of certain Unyvero A50 systems by Curetis to a strategic partner. This has led to a rise in OpGen's share prices.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 2:38 pm

CHPT

ChargePoint Holdings Inc's shares are trading lower by 3.28% after the company announced it has secured a commitment from institutional investors, including the lead investor of their $300 million convertible notes issued in April 2022. The company is raising funds through an 'at-the-market' offering and a $150 million revolving credit facility to achieve adjusted EBITDA profitability by the fourth fiscal quarter of the following year. ChargePoint also plans to modify the terms of their notes with the lead investor, extending the maturity date to April 1, 2028, and adjusting the conversion price to $12.00 per share.

Portfolio Pulse from Henry Khederian

October 12, 2023 | 2:33 pm

EVGO

EVgo Inc (NASDAQ:EVGO) and its eXtend partners have been selected for more than $12.7 million in preliminary awards from various funding sources across California, Colorado, and Pennsylvania. The funding will support the buildout of over 150 fast-charging stalls. To date, EVgo and its eXtend partners have been selected for approximately 20% of awarded NEVI funds. EVgo shares are trading lower by 1.91% at $2.99.

Portfolio Pulse from Shivani Kumaresan

October 12, 2023 | 2:17 pm

NFLX

A significant bullish stance on Netflix (NASDAQ:NFLX) has been observed through unusual options activity. The sentiment among these big-money traders is split between 56% bullish and 43% bearish. The whales have been targeting a price range from $300.0 to $1275.0 for Netflix over the last 3 months. The current price of NFLX is down -0.22% at $365.11. Analysts have mixed ratings on Netflix with price targets ranging from $293 to $525.

Portfolio Pulse from Benzinga Insights

October 12, 2023 | 2:17 pm

F

MSFT

NOC

NVDA

QCOM

TSLA

The article covers a range of topics including Microsoft's appeal against a $29B US tax claim by the IRS, insider selling of Qualcomm and Northrop Grumman stocks, and Nvidia's bullish outlook with a predicted 50% stock gain. It also mentions Tesla's warning about the potential slashing of Model 3's tax credit and Ford's ongoing UAW strike. In the crypto space, Bitcoin, Ethereum, and Dogecoin are discussed.

Portfolio Pulse from Akanksha Bakshi

October 12, 2023 | 2:06 pm

MYCOF

Mydecine Innovations Group, a biotech company focused on psychedelic-based drugs, has begun trading on the UK's AQSE Growth Market under the ticker MYIG. The company is at a pivotal phase in its development and is working on its 2nd generation molecules, with human clinical studies expected to commence in 2024. Mydecine shares closed 28.19% higher at 0.12 cents per share.

Portfolio Pulse from Nina Zdinjak

October 12, 2023 | 1:43 pm

SPE

Special Opportunities Fund, Inc. (NYSE:SPE) has reached a settlement of a class action lawsuit against FAST Acquisition Corp. The proposed settlement, subject to court approval, involves a cash payment of $12.5 million by the defendants. After accounting for litigation expenses, former common stockholders of FAST who received a pro rata liquidation payment should receive an additional payment of at least $0.50 per share in Q1 2024.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 1:31 pm

TTOO

T2 Biosystems, Inc. (NASDAQ:TTOO) has announced a 1-for-100 reverse stock split, effective October 12, 2023. The split is intended to bring the company into compliance with the minimum bid price requirement for maintaining its listing on the Nasdaq Capital Market. The company's common stock will begin trading on a split-adjusted basis on October 13, 2023 under the existing trading symbol, 'TTOO.'

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 1:12 pm

OPTT

Ocean Power Technologies Inc (OPTT) has announced that it will disregard any attempts by Paragon to nominate persons for election to OPTT's board at the company's 2023 Annual Stockholders Meeting.

Portfolio Pulse from Benzinga Newsdesk

October 12, 2023 | 1:07 pm