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PYPL

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PayPal has announced its new U.S. dollar-denominated stablecoin, PayPal USD (PYUSD), which is fully backed by U.S. dollar deposits, short-term U.S. treasuries, and other cash equivalents. Paolo Ardoino, CTO of Tether, does not see PYUSD as a competitor to Tether, but believes it will lead to a further loss of revenue for competitors like USD Coin. Ardoino also suggested that PYUSD could erode revenues for payment companies like MasterCard and Visa.

Portfolio Pulse from Murtuza Merchant

August 07, 2023 | 5:36 pm

AI

C3.ai's stock price is experiencing a downturn following a report that Baker Hughes sold over 2.2 million shares in the second quarter.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 5:33 pm

DE

A 'whale' investor has taken a bullish stance on Deere (NYSE:DE), with 54% of investors opening trades with bullish expectations. The whale has been targeting a price range from $370.0 to $460.0 for Deere over the last 3 months. The price of DE is up 1.52% at $430.5. DA Davidson and Citigroup have maintained their Buy rating on Deere, with price targets of $510 and $475 respectively.

Portfolio Pulse from Benzinga Insights

August 07, 2023 | 5:15 pm

AI

BKR

C3.ai, Inc. (NYSE:AI) shares are trading lower, with a loss of over 16% in the last five days, despite being up over 100% in the last three months. Baker Hughes Company (NASDAQ:BKR) sold more than 2.2 million shares of AI in Q2, representing about one-third of its stake. AI is currently a top trending ticker on Yahoo! Finance, with 33.02% of available shares being sold short.

Portfolio Pulse from Erica Kollmann

August 07, 2023 | 4:44 pm

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CCHWF

CURLF

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Viridian Capital Advisors has released a chart showing credit quality and trading yield for nineteen public U.S. cannabis companies with market caps over $25M. The chart suggests that investors should consider the senior secured cannabis debt market, with stronger credits like Trulieve (OTC:TRUL), Verano (OTC:VRNOF), and Curaleaf (OTC:CURLF) trading between 15% and 16.5%, while weaker credits like AYR (OTC:AYRWF), Columbia Care (OTC:CCHWF), and Jushi (OTC:JUSHF) trade from 20% to 30%. The chart also highlights potential pricing inefficiencies and opportunities for higher risk-adjusted returns in smaller names.

Portfolio Pulse from Viridian Capital Advisors

August 07, 2023 | 4:35 pm

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OXY

Joe Terranova announced on CNBC that he has sold his shares in Energy Transfer and Occidental Petroleum as part of an ETF rebalance.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 4:20 pm

NIO

A significant amount of unusual options activity has been detected for NIO (NYSE:NIO), with a bearish stance being taken by a whale investor. Of the 28 strange trades detected, 46% were bullish and 53% were bearish. The trades included 4 puts worth $207,840 and 24 calls worth $1,167,328. The price target for NIO over the last 3 months has been between $7.5 and $35.0. The current price of NIO is down -1.08% at $14.56. JP Morgan and UBS have both maintained their Neutral rating on NIO, with price targets of $9 and $15 respectively.

Portfolio Pulse from Benzinga Insights

August 07, 2023 | 4:15 pm

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ARES

MGOL

OWL

Soccer superstar Lionel Messi's move to Major League Soccer (MLS) team Inter Miami could benefit several publicly traded companies. Ares Management Corp (NYSE:ARES) recently invested $75 million in preferred equity in Inter Miami, marking its second investment in the team. Other companies that could benefit include Apple Inc (NASDAQ:AAPL), which has exclusive rights to MLS games, and MGO Global Inc (NASDAQ:MGOL), which manages the online Messi store.

Portfolio Pulse from Chris Katje

August 07, 2023 | 4:12 pm

SVFD

Save Foods, Inc. (NASDAQ:SVFD) shares surged nearly 200% on high trading volume, with over 52.5 million shares traded compared to the 100-day average of 560,884 shares. The company specializes in eco-crop protection that reduces food waste and ensures food safety. The stock was halted for volatility multiple times during Monday's session.

Portfolio Pulse from Erica Kollmann

August 07, 2023 | 3:58 pm

PSTX

Poseida Therapeutics has received a $50 million investment from Astellas Pharma, leading to a rise in its share prices.

Portfolio Pulse from Bill Haddad

August 07, 2023 | 3:34 pm