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COIN

OpenSea, a leading NFT marketplace, has faced backlash over its decision to stop enforcing mandatory creator royalties on secondary sales of NFTs. The change, which will take effect in March 2024, has been criticized by Yuga Labs, the company behind popular NFT collections, and Mark Cuban, an investor in OpenSea. Yuga Labs plans to sunset support for OpenSea's SeaPort by February 2024, and there is speculation that it may launch its own NFT marketplace. Coinbase Global (NASDAQ:COIN), which operates an NFT marketplace, has stated its commitment to enforcing creator royalties.

Portfolio Pulse from Chris Katje

August 20, 2023 | 10:21 pm

ANL

Adlai Nortye Ltd (NASDAQ:ANL) is set to become publicly listed on Aug. 22, 2023, with a price range set between $22.00 and $26.00. The company will be offering 3,000,000 shares at a per-share value of $24.00. The IPO comes with a 180-day lockup period.

Portfolio Pulse from Benzinga Insights

August 20, 2023 | 6:43 pm

BRK

COF

DHI

GOOGL

LEN

NVDA

NVR

OXY

Recent filings with the Securities and Exchange Commission reveal strategic shifts in the portfolios of Warren Buffett, Michael Burry, and Bill Ackman. Buffett's Berkshire Hathaway has invested in the housing industry, including Lennar Corp, NVR Inc, and DR Horton Inc, and expanded its footprint in Capital One and Occidental Petroleum. Michael Burry has taken a defensive stance on the S&P 500 and Nasdaq-100 indices, holding bearish put options valued at $1.6 billion. Bill Ackman has increased his focus on AI, with his Pershing Square fund acquiring a significant chunk of Alphabet Inc. Class C shares.

Portfolio Pulse from Bibhu Pattnaik

August 19, 2023 | 5:16 pm

MCHI

Former Treasury Secretary Larry Summers and Willett Advisors’ Steve Rattner shared their views on China's economic challenges. Summers pointed out financial strains from excessive reliance on real estate, drying up of the export market, and population collapse. Rattner mentioned U.S. sanctions, globalization, and companies diversifying their supply chains as factors affecting China's economy. Both agreed that President Xi Jinping's control over the economy is a problem. The iShares MSCI China ETF (NASDAQ:MCHI) ended Friday’s session down 2.39% to $43.32.

Portfolio Pulse from Shanthi Rexaline

August 19, 2023 | 12:13 pm

LCID

NIO

RIVN

VFS

Pham Nhat Vuong, founder of VinFast Auto Ltd. (NASDAQ:VFS), lost about $18 billion due to a sharp decline in the company's shares. The shares had surged 255% on its first day of trading on Nasdaq but were followed by three consecutive days of losses. Despite this, Vuong's net worth is still higher than before the company's listing. VinFast's market capitalization peaked at $85 billion, surpassing General Motors Co., but ended the week around $36 billion, still ahead of EV competitors like Rivian Automotive Inc. (NASDAQ:RIVN), Nio Inc. (NYSE:NIO), and Lucid Group Inc (NASDAQ:LCID).

Portfolio Pulse from Benzinga Neuro

August 19, 2023 | 3:52 am

PFE

A large investor has taken a bullish stance on Pfizer (NYSE:PFE), with 22 uncommon options trades spotted for the company. The sentiment of these big-money traders is split between 77% bullish and 22% bearish. The whales have been targeting a price range from $35.0 to $43.0 for Pfizer over the last 3 months. BMO Capital and Morgan Stanley have maintained their Outperform and Equal-Weight ratings on Pfizer respectively, with price targets of $44 and $42.

Portfolio Pulse from Benzinga Insights

August 18, 2023 | 8:45 pm

UPTD

TradeUP Acquisition Corp. (NASDAQ:UPTD) has extended the deadline for its initial business combination from August 19, 2023, to September 19, 2023. The company has deposited $37,432.70 into its trust account, representing $0.05 per remaining share of the company. The payment was made by Estrella Biopharma, Inc., pursuant to a merger agreement.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:35 pm

ARQT

Arcutis Biotherapeutics, Inc. (NASDAQ:ARQT) has appointed John W. Smither as interim Chief Financial Officer (CFO), effective August 31. He replaces Scott Burrows, who is leaving the company to pursue an external opportunity. Smither previously served as Arcutis' first CFO from 2019 to 2021 and led the company's successful IPO in 2020. He has also served as CFO for several other biopharmaceutical companies.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:34 pm

BCML

BayCom Corp (NASDAQ:BCML) has announced a quarterly cash dividend of $0.10 per share, payable on October 13, 2023. The company also announced its eighth stock repurchase program, authorizing the repurchase of up to 588,000 shares, or approximately 5% of currently outstanding shares, over a one-year period. The new program will commence upon completion of the seventh stock repurchase program, which will expire on April 21, 2024.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:31 pm

ACAH

Atlantic Coastal Acquisition Corp. (NASDAQ:ACAH) has announced that it will redeem all of its outstanding shares of Class A common stock at a per-share redemption price of approximately $10.40. The company will not be consummating an initial business combination and will cease all operations except for winding up. The company's securities will cease trading on the Nasdaq Stock Market on August 18, 2023, and the public shares will be deemed cancelled as of August 21, 2023.

Portfolio Pulse from Happy Mohamed

August 18, 2023 | 8:21 pm