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Equity Actions

INDI

indie Semiconductor has acquired EXALOS AG for approximately $45 million, paid in 6.6 million indie Class A common shares. The deal also includes the potential for EXALOS equity holders to earn up to an additional $20 million in cash or indie Class A common shares, based on performance targets over the next 24 months. The acquisition expands indie's ADAS and User Experience portfolio and is expected to be financially neutral in 2023 and accretive in 2024.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:08 pm

HSTO

Histogen has announced that its board has approved a complete liquidation and dissolution of the company, including the distribution of remaining cash to stockholders following an operational winddown. The company has discontinued all clinical development programs and reduced its workforce.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 8:06 pm

ARMH

Arm Holdings Plc (NASDAQ:ARMH) has seen a 20% drop from its IPO peak, with its ADRs falling 7.2% to $56.37 during Monday afternoon trading. Bernstein Research initiated coverage of Arm with an Underperform rating and a $46 price target per share, citing concerns over Arm's position in the AI market and the rise of the open-source RISC-V chip architecture. Additionally, China, which accounts for 24% of Arm's revenue, poses a risk due to rising tensions between Washington and Beijing.

Portfolio Pulse from Piero Cingari

September 18, 2023 | 7:53 pm

CYBN

Hedge fund owner Steve Cohen has invested $19 million in Cybin, causing the company's shares to trade higher.

Portfolio Pulse from Benzinga Newsdesk

September 18, 2023 | 7:53 pm

ATAI

CYBN

MNMD

Billionaire Steve Cohen has invested nearly $19 million in Cybin Inc. (NYSE:CYBN) through his Point72 asset management firm, which now owns over 8% of Cybin's stock. This is Point72's first public position in a psychedelics company. In other news, billionaire Blake Mycoskie has updated on his $100 million pledge for psychedelics research, stating that he has already donated $11 million, including investments in MindMed (NASDAQ: MNMD), atai Life Sciences (NASDAQ:ATAI), and MAPS PBC.

Portfolio Pulse from Lara Goldstein

September 18, 2023 | 7:10 pm

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Crude oil prices are surging, with experts predicting a barrel of oil could hit $100. Price premiums for physical oil barrels are increasing globally due to rising diesel demand. Chevron Corp. CEO Mike Wirth expressed confidence in oil reaching $100 a barrel. Over the last three months, energy stocks represented by the Energy Select Sector SPDR Fund have outperformed the Technology Select Sector SPDR Fund by 20%. Exxon Mobil Corp. has also outperformed Apple Inc.

Portfolio Pulse from Piero Cingari

September 18, 2023 | 7:06 pm

DIS

GME

SONY

Ken Griffin, founder of Citadel LLC and Citadel Securities, has expressed his dissatisfaction with the current Republican candidates for the 2024 presidential election. Griffin, who has previously donated heavily to the Republican party, criticized Florida Governor Ron DeSantis' ongoing battle with Walt Disney Co (NYSE:DIS) as 'pointless'. He also mentioned his disappointment with the recent changes in DeSantis' campaign leadership. Griffin's decision to withhold financial support could impact the odds of closing the gap with front-runner Donald Trump. The news also mentions Griffin's portrayal in the 'Dumb Money' movie from Sony Group Corp (NYSE:SONY) that centers on the rise of value in GameStop Corp (NYSE:GME) shares.

Portfolio Pulse from Chris Katje

September 18, 2023 | 6:56 pm

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CGC

NKLA

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SQL

U.S. stocks traded higher with the Dow Jones gaining around 50 points. Energy shares rose by 0.7% while consumer discretionary shares fell by 0.7%. Nikola Corporation, Avinger, Inc., and SeqLL Inc. saw significant increases in their share prices. Canopy Growth Corporation, Rubicon Technologies, Inc., and AgriFORCE Growing Systems Ltd. saw decreases in their share prices.

Portfolio Pulse from Lisa Levin

September 18, 2023 | 6:47 pm

DVN

A whale investor has taken a bullish stance on Devon Energy (NYSE:DVN), with 63% of investors opening trades with bullish expectations and 36% with bearish. The whale has been targeting a price range from $40.0 to $57.5 for Devon Energy over the last 3 months. The price of DVN is currently down -0.48% at $49.44. Mizuho, Stifel, and Wells Fargo have maintained their Buy and Equal-Weight ratings on Devon Energy, with price targets of $62, $79, and $51 respectively.

Portfolio Pulse from Benzinga Insights

September 18, 2023 | 6:45 pm

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