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Equity Actions

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

BTCUSD

COIN

Crypto investor Anthony Pompliano predicts that Bitcoin (BTC) will make a strong comeback in the next 18 to 24 months. He highlighted the recent news of Coinbase Global Inc (NASDAQ:COIN) launching crypto futures trading in the U.S. as a positive development for the industry. Pompliano believes that the future of Bitcoin is bright due to factors such as the upcoming Bitcoin halving in 2024, increased institutional interest, and the potential for Bitcoin ETFs.

Portfolio Pulse from Chris Katje

August 17, 2023 | 8:55 pm

KLAC

KLA Inc.'s stock price is currently at $472.95, marking a 0.22% decrease in the current market session. However, the stock has increased by 5.08% over the past month and by 27.20% over the past year. The company's P/E ratio of 19.63 is lower than the industry average of 41.46, which could indicate that the stock is undervalued or that shareholders do not expect future growth.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 8:45 pm

BLFY

Blue Foundry Bancorp has adopted a stock repurchase program to buy back up to 1.26 million shares, representing 5% of its outstanding common stock. This is the company's third repurchase program since its mutual-to-stock conversion and related stock offering in July 2021.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 8:38 pm

TRNS

Transcat Inc has filed a prospectus relating to the offer and resale by selling shareholders of up to 271,820 shares of common stock.

Portfolio Pulse from Benzinga Newsdesk

August 17, 2023 | 8:31 pm

CRM

A significant bearish stance has been taken on Salesforce (NYSE:CRM) by a large investor, as indicated by unusual options activity. The sentiment among these big-money traders is 29% bullish and 70% bearish. The whales have been targeting a price range from $140.0 to $300.0 for Salesforce over the last 3 months. Morgan Stanley has downgraded Salesforce to Equal-Weight with a price target of $278, while Mizuho maintains a Buy rating with a price target of $250-$260.

Portfolio Pulse from Benzinga Insights

August 17, 2023 | 8:30 pm