Streetbeat News

Equity Actions

HRTG

Heritage Insurance Holdings has announced a new share repurchase program valued at $10 million, signaling confidence in the company's future financial health and potentially increasing shareholder value.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 8:08 pm

INDI

indie Semiconductor has announced a minority investment in Expedera, a company specializing in AI processors. This strategic investment aims to enhance indie Semiconductor's capabilities in AI and expand its market reach.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 8:06 pm

HOOD

A significant options transaction was observed for Robinhood Markets (HOOD) with a sweep of 347 calls at a strike price of $25, expiring on January 17th, priced near the ask at $2.8. This activity comes ahead of Robinhood's estimated earnings report on May 8th, after market close. The stock reference price at the time of the transaction was $18.515.

Portfolio Pulse from Charles Gross

March 20, 2024 | 7:57 pm

AQST

ETAO

LFCR

SIG

TRUG

XTLB

U.S. stocks rose after the Federal Reserve left interest rates unchanged, with the Dow, NASDAQ, and S&P 500 all posting gains. Industrials and health care sectors saw mixed performance. Several companies experienced significant stock movements, including ETAO International, XTL Biopharmaceuticals, and TruGolf Holdings seeing sharp increases, while Lifecore Biomedical, Aquestive Therapeutics, and Signet Jewelers reported declines. The Fed's decision to maintain rates between 5.25% and 5.5% was anticipated, aligning with investor expectations.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 7:22 pm

DIS

Significant activity in Walt Disney (NYSE:DIS) options has been observed, indicating a bullish sentiment among large investors. Benzinga's options scanner revealed 34 unusual trades, with a sentiment split of 58% bullish and 41% bearish. The trades suggest a targeted price range for DIS between $80.0 and $125.0. Current trading volume and price trends, along with analyst ratings from Morgan Stanley and Tigress Financial, suggest a positive outlook for DIS, despite a slight price drop and potential overbought status.

Portfolio Pulse from Benzinga Insights

March 20, 2024 | 7:01 pm

ARKK

COIN

NVDA

SARK

SPY

TARK

TSLA

Cathie Wood's ARK Innovation ETF (ARKK) has experienced a significant outflow, losing over 3% in value and 2% of its net assets in a week. This contrasts sharply with the broader market's performance, exemplified by the SPDR S&P 500 ETF Trust (SPY) which is up 8.5% in the same period. Investors are concerned about Wood's decision to divest from Nvidia (NVDA), which has seen substantial growth. Wood's current focus is on Coinbase (COIN), which has surged over 50% YTD, and Tesla (TSLA), despite its recent struggles. For those betting against ARKK, the AXS Short Innovation Daily ETF (SARK) and for supporters, the AXS 2X Innovation ETF (TARK) are available.

Portfolio Pulse from Johnny Rice

March 20, 2024 | 7:00 pm

MDAI

Spectral AI has secured access to $12.5 million of new equity capital, which could significantly enhance its financial flexibility and support its growth strategies.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 6:51 pm

CMPS

CYBN

MNMD

PSIL

Cybin Inc. received FDA Breakthrough Therapy designation for its psilocybin therapy for Major Depressive Disorder, alongside positive clinical data and a $150M private placement. MindMed also received the designation for its LSD-derived treatment for Generalized Anxiety Disorder, with expected proceeds of $175M from share offerings. Gilgamesh Pharmaceuticals was awarded a $14M grant for ibogaine analog research. Psyence Biomedical, Red Light Holland, and Clearmind Medicine were mentioned for their developments in psychedelics. The article also covered stock performances of several psychedelics companies.

Portfolio Pulse from Lara Goldstein

March 20, 2024 | 6:49 pm

ETAO

LFCR

OTRK

SMR

XTLB

Lifecore Biomedical's shares plummeted by 31.7% after announcing the conclusion of its strategic evaluation process, management changes, and board reshuffling. Other stocks experienced significant movements, with gainers like ETAO International and XTL Biopharmaceuticals seeing sharp increases due to a reverse stock split and acquisition news, respectively. Losers included NuScale Power Corporation, which dropped 28% following a downgrade by Wells Fargo, and Ontrak, Inc., which fell 26% after a previous day's surge.

Portfolio Pulse from Avi Kapoor

March 20, 2024 | 6:03 pm

NLSP

NLS Pharmaceutics has announced a registered direct offering of 7 million shares at a price of $0.25 per share, raising a total of $1.75 million. This move is aimed at increasing the company's capital.

Portfolio Pulse from Benzinga Newsdesk

March 20, 2024 | 5:49 pm