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Equity Actions

DWAC

Congresswoman Marjorie Taylor Greene's investment in Digital World Acquisition Corporation (NASDAQ:DWAC), the SPAC planning to merge with Trump Media & Technology Group, has significantly decreased in value. Greene bought between $15,001 and $50,000 worth of DWAC shares at an average price of $94.20 in October 2021. However, the SPAC's shares have fallen 45% over the past year due to setbacks and investigations delaying the merger. If the deal is not finalized by the deadline, the SPAC may have to liquidate shares at net asset value, closer to the $10 level.

Portfolio Pulse from Chris Katje

August 14, 2023 | 12:31 pm

AMC

AMC Entertainment Holdings has received court approval for its revised stock conversion plan, leading to a rise in the trading of its Preferred Equity Units.

Portfolio Pulse from Luke J Jacobi

August 14, 2023 | 12:30 pm

AMZN

GOOGL

MSFT

NVDA

Amazon is designing custom microchips, Inferentia and Trainium, for AWS' generative AI training and acceleration to bypass Nvidia GPUs for large language model training. Amazon Web Services CEO Adam Selipsky stressed the global demand for generative AI chips, including Amazon's designs. Microsoft invested $13 billion in OpenAI and quickly integrated generative AI models into its products. Google launched Bard LLM and invested $300 million in OpenAI competitor Anthropic. Amazon launched its own Titan LLMs and Bedrock service for enhancing software using generative AI.

Portfolio Pulse from Anusuya Lahiri

August 14, 2023 | 12:29 pm

GOEV

Canoo (NASDAQ:GOEV) has finalized agreements on workforce and economic development incentives with the state of Oklahoma and the Cherokee Nation for its vehicle assembly and battery module manufacturing plants. The combined value of the incentives is up to $113 million over 10 years. The company plans to hire over 1,300 employees and invest more than $320 million in its Oklahoma City assembly facility and Pryor battery module manufacturing plant.

Portfolio Pulse from Happy Mohamed

August 14, 2023 | 12:19 pm

TMC

The Metals Company (TMC) has announced a registered direct offering of approximately $27 million at $2.00 per share, along with Class A warrants.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 12:16 pm

ABSI

Absci Corporation has appointed Zach Jonasson, Ph.D., as its new Chief Financial Officer (CFO) and Chief Business Officer (CBO). Jonasson, co-founder and Managing General Partner of Phoenix Venture Partners and Convergent Ventures, has served on Absci's Board of Directors since 2016. He will leave his positions at PVP and Convergent Ventures, as well as step down from the Absci Board, to take up this full-time leadership role. The current CFO, Greg Schiffman, will retire.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 12:06 pm

BNGO

Bionano Genomics has appointed Gülsen Kama as its new CFO, effective from September 11, 2023. The current CFO, Christopher Stewart, will assist in the transition before moving into an advisory role.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 12:02 pm

AMC

CLF

QQQ

SPY

TGT

TSLA

WMT

US stocks are set for a bullish open as the market recovers from a lackluster week. The recovery is largely dependent on retail earnings reports and key economic releases. Walmart, Target, and Home Depot are among the key retail earnings reports due this week. Inflation fears and rising bond yields have kept sentiment subdued. The SPDR S&P 500 ETF Trust and the Invesco QQQ ETF gained in premarket trading. AMC Entertainment shares plunged while United States Steel Corp. jumped after confirming a cash and stock offer from Cleveland-Cliffs, which fell over 5%. Tesla fell over 1.50% after announcing sharp cuts in China.

Portfolio Pulse from Shanthi Rexaline

August 14, 2023 | 11:33 am

MANU

The Glazer family, owners of Manchester United, are reportedly planning to announce a £7.3 billion sale of the football club.

Portfolio Pulse from Charles Gross

August 14, 2023 | 11:29 am

FLT

Barclays analyst Ramsey El-Assal maintains an Overweight rating on Fleetcor Technologies (NYSE:FLT) and raises the price target from $270 to $322.

Portfolio Pulse from Benzinga Newsdesk

August 14, 2023 | 11:16 am