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BTCUSD

SPKY

UVXY

The stock market and Bitcoin experienced a downturn, with the S&P 500 closing down 0.77% and Bitcoin closing 7.15% lower. This was due to concerns that the Federal Reserve will continue its rate hike campaign. As a result, stock market volatility increased, with the Volatility S&P 500 Index rising 6.74%. The ConvexityShares Daily 1.5x SPIKES Futures ETF (SPKY) spiked higher, as predicted by Benzinga. SPKY is a 1.5x leveraged fund that tracks the SPIKES Futures Short-Term Index, similar to the ProShares Ultra VIX Short Term Futures ETF (UVXY).

Portfolio Pulse from Melanie Schaffer

August 18, 2023 | 11:08 am

MANU

Sheikh Jassim, a member of the Qatari royal family, has expressed concerns that the Glazers may not be willing to sell Manchester United (MANU).

Portfolio Pulse from Charles Gross

August 18, 2023 | 9:47 am

WHF

WhiteHorse Finance, Inc. (NASDAQ:WHF) has priced a registered public offering of $30 million in aggregate principal amount of its 7.875% notes due 2028. The net proceeds to the company will be approximately $28.8 million, or $33.2 million if the underwriters fully exercise the overallotment option.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 7:35 am

ATHX

Athersys, Inc. has announced the pricing of its public offering of 10.9 million shares at $0.32 per share, raising $3.5 million. The company will also issue Series A and Series B Warrants to purchase up to an aggregate of 10.9 million shares of common stock each, exercisable immediately and expiring in five years and one and a half years, respectively.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 7:24 am

TTEK

Tetra Tech, Inc. has priced its $500 million aggregate principal amount of 2.25% Convertible Senior Notes due 2028. The notes are being offered in a private placement to qualified institutional buyers. The company has also granted the initial purchasers an option to purchase up to an additional $75 million aggregate principal amount of the notes. The sale is expected to close on August 22, 2023.

Portfolio Pulse from Benzinga Newsdesk

August 18, 2023 | 7:18 am

META

Twitter co-founder Jack Dorsey has left Instagram after 12 years, also discontinuing use of WhatsApp and Facebook. This move, similar to Elon Musk's stance against Meta Platforms Inc., has sparked controversy. Dorsey's decision seems influenced by Musk's criticism of Meta. Earlier this year, a Stanford research team reported that Instagram had over three times the number of accounts dedicated to selling child sex abuse material than Twitter.

Portfolio Pulse from Ananya Gairola

August 18, 2023 | 6:30 am

BTCUSD

DOGEUSD

SpaceX, led by Elon Musk, has reportedly sold all of its Bitcoin holdings and written down their value by $373 million. The company recorded $373 million worth of Bitcoin on its balance sheet in 2021 and 2022. This move comes after Musk revealed in 2021 that the firm had invested in Bitcoin. Musk's involvement in the crypto space has had a significant impact on their market values.

Portfolio Pulse from Mehab Qureshi

August 18, 2023 | 3:34 am

ADPT

EXAS

PATH

RXRX

SDGR

SHOP

Ark Invest, led by Cathie Wood, continues to sell shares of Shopify Inc (NASDAQ:SHOP) across various ETFs, including ARK Innovation ETF (NYSE:ARKK), ARK Next Generation Internet ETF (NYSE:ARKW), and Ark Fintech Innovation ETF (NYSE:ARKF), despite Shopify's 31% YoY increase in revenue. Ark Invest also made significant purchases of shares in UiPath Inc (NYSE:PATH), Adaptive Biotechnologies (NASDAQ:ADPT), and Recursion Pharmaceuticals (NASDAQ:RXRX), while selling shares of Exact Sciences Corp (NASDAQ:EXAS) and Schrodinger Inc (NASDAQ:SDGR).

Portfolio Pulse from Benzinga Neuro

August 18, 2023 | 2:04 am

NXU

Nxu has announced a strategic shift to focus on its electric vehicle (EV) charging infrastructure technology. The company believes this move will position it better in the growing EV market.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 9:14 pm

DIS

NFLX

WBD

Netflix Inc (NASDAQ:NFLX) premiered a docuseries on two of the most searched-for people on Google in 2022, Johnny Depp and Amber Heard. The series, 'Depp v. Heard', explores their highly publicized court trial. The Walt Disney Company (NYSE:DIS) and Warner Bros. Discovery (NASDAQ:WBD) severed their relationships with Depp due to the trial. However, Netflix is aiding Depp's cinematic resurgence by financing and securing the streaming rights in France for 'La Favorite'.

Portfolio Pulse from Chris Katje

August 17, 2023 | 9:02 pm