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Equity Actions

COIN

Antonio Juliano, founder of decentralized exchange dYdX, suggests crypto builders should focus on markets outside the U.S. due to regulatory concerns. He believes the challenges of operating in the U.S. may not be worth the effort currently, given the potential in international markets. Brian Armstrong, CEO of Coinbase (NASDAQ:COIN), responded with a more optimistic view, expecting positive changes in the U.S. regulatory landscape for crypto possibly by next year.

Portfolio Pulse from Murtuza Merchant

August 28, 2023 | 3:45 pm

SPPL

SIMPPLE LTD (NASDAQ:SPPL) is set to start trading on the NASDAQ exchange on August 29. The company is offering shares at an expected price between $5.25 and $6.25 per share with an insider lock-up period of 180 days ending on February 25, 2024. SIMPPLE LTD is a technology solution provider in the property technology space.

Portfolio Pulse from Benzinga Insights

August 28, 2023 | 3:00 pm

TM

TSLA

VFS

Vietnamese electric vehicle maker VinFast Auto Ltd's shares continue to rally, with a 40% gain last Friday and a further increase today. The company's valuation has risen to about $160 billion, making it the third-most valuable automaker after Tesla Inc and Toyota Motor Corp. However, due to a small availability of publicly traded shares, the stock has shown extreme volatility.

Portfolio Pulse from Shivani Kumaresan

August 28, 2023 | 2:57 pm

NKLA

Nikola Corp's shares have fallen by 45% over the past month, with a 5.3% drop to $1.24 on Monday. The decline follows the company's announcement of a registered direct offering involving senior convertible notes worth up to $325 million, with anticipated net proceeds of $124.5 million. The company also revealed that the holders of these shares could resell them, but Nikola will not profit from these sales. The company's shares have also been affected by a voluntary recall of over 200 vehicles following a nearby fire, leading to a temporary halt on new BEV sales.

Portfolio Pulse from Henry Khederian

August 28, 2023 | 2:54 pm

CYBN

DMTTF

Cybin Inc. (NYSE:CYBN) is set to acquire Small Pharma Inc. (TSXV:DMT) (OTCQB:DMTTF) in an all-share transaction. Small Pharma shareholders will receive 0.2409 common shares in Cybin for each Small Pharma share held, implying a consideration of approximately $0.10 per Small Pharma share. The combined entity will hold the most extensive intellectual property portfolio in the psychedelic drug development sector, with 28 granted patents and 158 pending. The acquisition is expected to close in late October 2023.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 2:52 pm

NVDA

Huawei's compute GPU capabilities are reportedly on par with Nvidia's A100 GPUs, according to Liu Qingfeng, founder and chairman of Chinese AI company iFlytek. This is a significant development considering Nvidia's dominance in high-performance computing and AI. Huawei's advancements could potentially reduce Chinese AI companies' reliance on Nvidia's hardware, which is currently constrained due to U.S. curbs against China's supercomputer sector.

Portfolio Pulse from Happy Mohamed

August 28, 2023 | 2:50 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 60% bullish and 40% bearish. The whales have been targeting a price range from $335.0 to $425.0 for Netflix over the last 3 months. Loop Capital upgraded its action to Buy with a price target of $500 while Oppenheimer downgraded its action to Outperform with a price target of $515.

Portfolio Pulse from Benzinga Insights

August 28, 2023 | 2:32 pm

AMC

AMC Entertainment Holdings Inc's shares are down by 5.47% after a reverse stock split and the conversion of AMC Preferred Equity Units into common stock. The total AMC share count increased from 542.2 million to 550 million shares. Despite several box office records, AMC stock has fallen roughly 85% over the past year.

Portfolio Pulse from Henry Khederian

August 28, 2023 | 2:30 pm

OSG

Overseas Shipholding Group, Inc (NYSE:OSG) has agreed to acquire 3.78 million common shares from entities managed by Cyrus Capital Partners, L.P. at $4.05 per share, amounting to a total of ~$15.34 million. The purchase will be funded using OSG's existing cash reserves. This is separate from the previously disclosed initiative to buy back OSG common stock worth up to $20 million.

Portfolio Pulse from Akanksha Bakshi

August 28, 2023 | 2:23 pm

BV

BrightView Holdings announced it received a $500 million strategic investment in convertible preferred stock from an affiliate of One Rock Capital Partners. This has led to a rise in the company's share prices.

Portfolio Pulse from Benzinga Newsdesk

August 28, 2023 | 2:08 pm