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Equity Actions

ACHR

Archer Aviation has announced a $215 million investment, causing its shares to trade higher. The company also announced a litigation settlement and collaboration with Wisk Aero and Boeing.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:25 pm

EDBL

Edible Garden has launched a new division, EG Direct, to capitalize on its distribution platform. This move is expected to enhance the company's direct-to-consumer capabilities and expand its market reach.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:05 pm

TUSK

Mammoth Energy Services has entered into two non-binding agreements with lenders to repay and refinance its existing credit facility. The company's stock symbol is TUSK.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:05 pm

TUSK

Mammoth Energy Services has announced that its board has approved a stock repurchase program. The company plans to repurchase up to the lesser of $55 million or 10 million shares.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 12:04 pm

TSNDF

TerrAscend Corp. reported Q2 2023 financial results, with net revenue of $72.1 million, up 3.9% sequentially and 12.7% YoY. Gross profit was $36.2 million, up 6.8% sequentially and 50.8% YoY. The company reported a net loss from continuing operations of $12.9 million, compared to a loss of $19.2 million in Q1 2023. Adjusted EBITDA from continuing operations was $12.8 million, compared to $12.2 million in Q1 2023. The company also acquired four dispensaries in Maryland and listed on the TSX.

Portfolio Pulse from Vuk Zdinjak

August 11, 2023 | 11:50 am

QQQ

SPCE

SPY

TSLA

US stocks are expected to open lackluster due to firmer bond yields and awaiting inflation data. Despite recent weakness, tech sector stocks are trading at unsustainable valuations. Analyst Tom Lee of Fund Strat suggests that the lackluster market movement in August should not worry investors. In premarket trading, SPDR S&P 500 ETF Trust fell 0.08% and Invesco QQQ ETF moved down 0.22%. Virgin Galactic Holdings climbed over 3% in premarket trading after a successful civilian space flight, while Tesla pulled back by over 1%.

Portfolio Pulse from Shanthi Rexaline

August 11, 2023 | 11:17 am

GOOGL

TSLA

Gene Munster, Managing Partner at Deepwater Asset Management, has identified Tesla, Inc. (TSLA) and Alphabet, Inc. (GOOGL) as the two companies that stand to benefit most from the adoption of autonomous driving. Munster's comments came on the same day that the California Public Utility Commission approved General Motors Corp.'s (GM) Cruise and Alphabet's Waymo to operate more vehicles autonomously 24/7 in San Francisco.

Portfolio Pulse from Shanthi Rexaline

August 11, 2023 | 7:50 am

DIS

SHOC

SPB

TUSK

WYNN

The CNN Money Fear and Greed index remained in the 'Greed' zone on Thursday, indicating positive market sentiment. U.S. stocks closed slightly higher following the release of inflation data. The annual inflation rate rose to 3.2% in July, slightly below market estimates. Initial jobless claims increased more than expected. Shares of The Walt Disney Company and Wynn Resorts rose after reporting better-than-expected earnings. Investors are awaiting earnings results from Spectrum Brands Holdings, Mammoth Energy Services, and Soho House & Co.

Portfolio Pulse from Lisa Levin

August 11, 2023 | 6:39 am

ARKG

ARKK

ARKQ

ARKX

GOOGL

NVDA

Cathie Wood's Ark Invest continues to sell Nvidia (NVDA) shares, with Ark Innovation ETF (ARKK) having divested its entire Nvidia stake by early January 2023. On Thursday, Ark's Autonomous Technology & Robotics ETF (ARKQ) and Ark Genomic Revolution ETF (ARKG) sold 9,898 Nvidia shares valued at $4.2 million. Nvidia now accounts for 2.59% of ARKQ and 2.72% of ARKG. Ark also sold Alphabet (GOOGL, GOOG) shares on Thursday, with ARKQ and Ark Space Exploration & Innovation ETF (ARKX) selling 10,439 Class C shares.

Portfolio Pulse from Shanthi Rexaline

August 11, 2023 | 6:29 am

EWU

The U.K. Business Investment Preliminary for Q2 has been reported at 3.4%, significantly higher than the estimated 0.8% and the prior figure of 3.3%.

Portfolio Pulse from Benzinga Newsdesk

August 11, 2023 | 6:07 am