Streetbeat News

Equity Actions

KOPN

Kopin Corporation (NASDAQ: KOPN) announced significant changes in its board of directors. Michael Murray, the CEO and President, has been elected as the Chairperson of the Board. Dr. Jill Avery has been appointed as the Lead Independent Director, and Margaret Seif has joined as a new board member. Dr. John C.C. Fan and Mr. James Brewington have retired from the board.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 8:03 pm

RYTM

Rhythm Pharmaceuticals has granted inducement equity covering 56,080 shares to ten new employees, including options for 9,230 shares and RSUs for 46,850 shares.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 8:02 pm

RBOT

Vicarious Surgical Inc (NASDAQ:RBOT) shares fell by 20% to $0.29 after announcing a 1-for-30 reverse stock split to meet NYSE's minimum price requirement. The split will take effect on June 12, with trading on a split-adjusted basis starting June 13.

Portfolio Pulse from Henry Khederian

June 11, 2024 | 7:40 pm

SHLS

Shoals Technologies Group Inc (NASDAQ:SHLS) shares surged by 9.2% to $7.43 after announcing a $150 million share repurchase program. The program, funded by cash reserves, free cash flow, and credit facility borrowings, reflects confidence in the company's growth. An Accelerated Share Repurchase (ASR) agreement with Jefferies LLC for $25 million was also initiated. Despite recent declines in stock price and revenue, Wall Street analysts generally view SHLS as a Buy.

Portfolio Pulse from Henry Khederian

June 11, 2024 | 7:36 pm

KITT

Nauticus Robotics, Inc. (NASDAQ:KITT) shares surged 20% following the announcement of an $8.4 million stock offering through H.C. Wainwright & Co., LLC. The company has already raised $5.4 million and plans to use the proceeds for working capital and general corporate purposes.

Portfolio Pulse from Vaishali Prayag

June 11, 2024 | 7:35 pm

WEWKQ

WeWork CEO David Tolley steps down as the company emerges from Chapter 11 bankruptcy. WeWork has significantly reduced its lease obligations, debt, and operational costs, and raised $400 million in new equity capital. The company plans to name a new CEO and board of directors.

Portfolio Pulse from Michael Juliano

June 11, 2024 | 7:13 pm

CRWD

CrowdStrike shares are trading higher following the announcement that the company will join the S&P 500.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 7:12 pm

AVGO

KLAC

LRCX

META

NFLX

SMCI

Speculation is growing that Meta Platforms, Inc (NASDAQ:META) may announce a stock split as its stock has surged over 450% from 2022 lows. Meta is the only company among the 'Magnificent Seven' that has not split shares. The potential split could make Meta more accessible to retail investors and a candidate for the Dow Jones Industrial Average. Other companies identified as potential candidates for stock splits include Broadcom Inc (NASDAQ:AVGO), Lam Research Corp (NASDAQ:LRCX), Super Micro Computer Inc (NASDAQ:SMCI), KLA Corp (NASDAQ:KLAC), and Netflix Inc (NASDAQ:NFLX).

Portfolio Pulse from Anusuya Lahiri

June 11, 2024 | 6:55 pm

DM

Cantor Fitzgerald analyst Troy Jensen maintains an Overweight rating on Desktop Metal (NYSE:DM) and adjusts the price target to $12.5 from $1.25 following a 1:10 reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 6:33 pm

GME

Keith Gill, aka Roaring Kitty, has reignited interest in GameStop (NYSE:GME) with his large holdings and options set to expire soon. Gill's return to social media and his significant stake in GameStop have boosted the stock, but recent earnings and a new share offering have caused volatility. Gill faces a decision to either sell or exercise his options, both of which carry risks.

Portfolio Pulse from Chris Katje

June 11, 2024 | 6:32 pm