Streetbeat News

Insider Trading

GSL

Global Ship Lease, Inc. (NYSE:GSL) announced a CEO transition with Ian Webber retiring and Thomas Lister succeeding as CEO effective March 31, 2024. Webber, who has been CEO since GSL's inception in 2007, will join the Board of Directors. Lister, with the company since 2007 and currently Chief Commercial Officer, has been instrumental in GSL's public listing, merger with Poseidon Containers, and decarbonization efforts. Executive Chairman George Youroukos praised Webber's leadership and expressed confidence in Lister's qualifications for guiding GSL through industry changes.

Portfolio Pulse from Benzinga Newsdesk

December 07, 2023 | 9:50 pm

ARKF

ARKK

ARKW

PLTR

Stephen Cohen, co-founder and president of Palantir Technologies Inc (NYSE:PLTR), sold a significant amount of his shares, causing a 3% drop in pre-market trading. He sold 500,000 shares on 12/01/23 and 156,100 shares on 12/04/23 for around $19-$20 each, totaling nearly $13 million. In contrast, Cathie Wood's Ark Investment Management purchased 1,578,738 Palantir shares for $27.04 million across three of its ETFs: ARK Innovation ETF (ARKK), ARK Next Generation Internet ETF (ARKW), and ARK Fintech Innovation ETF (ARKF). Despite a recent decline in Palantir's stock value, Ark's investment aligns with its focus on disruptive technologies. Palantir stock closed 6.4% lower at $17.13 on Wednesday and was up 0.05% by noon on Thursday.

Portfolio Pulse from Surbhi Jain

December 07, 2023 | 7:20 pm

AAPL

AMZN

FXY

GLD

GOOG

JPM

META

MSFT

NVDA

QQQ

SLV

SPY

TSLA

USO

The Bank of Japan's (BOJ) potential shift away from yield control is causing significant movement in the yen and impacting global stock markets, including the U.S. The yen's rise is affecting strategies that involve borrowing in yen to invest in U.S. markets. JPMorgan Chase CEO Jamie Dimon expressed a desire to shut down cryptocurrencies if possible. U.S. jobless claims came in slightly below consensus, which may influence the Fed's rate decisions. European GDP contraction supports the expectation of rate cuts. Positive early money flows are seen in major tech stocks, while mixed flows are observed in SPY and QQQ ETFs. Gold and oil are seeing buying interest due to the yen's move. Bitcoin experiences a pullback after recent retail investor enthusiasm. The Arora Report advises investors to maintain a protection band strategy to balance risk and opportunity.

Portfolio Pulse from The Arora Report

December 07, 2023 | 6:00 pm

DLTR

FTCH

SNOW

ULTA

Portfolio Armor, a financial analysis firm, has expressed concerns over an unnamed overbought retailer whose stock price has surged more than 150% since missing earnings last quarter, attributing the rise to a competitor's acquisition. Despite a bullish composite score based on various metrics, Portfolio Armor is betting against the retailer due to factors such as a high RSI indicating overbought conditions and insider transactions at much lower prices. The firm also shared successful past trades, including options on KR, DLTR, FTCH, SNOW, and ULTA.

Portfolio Pulse from David Pinsen

December 07, 2023 | 3:20 pm

AWH

CTHR

ERAS

SOND

Insiders at four companies have made notable purchases of their own company's penny stocks. Erasca's CEO Jonathan Lim bought 1 million shares for $1.7 million. Sonder Holdings' Chief Accounting Officer Adam Bowen acquired 10,000 shares. Aspira Women's Health's CEO Nicole Sandford purchased 5,000 shares, and Charles & Colvard's CEO Don Oconnell bought 60,986 shares. These transactions may signal insider confidence in the companies' prospects.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 1:33 pm

CRM

DOV

JBHT

On a day when the Nasdaq 100 saw a decline, insiders at four major companies, including Visa, Salesforce, Dover, and J.B. Hunt Transport Services, sold significant amounts of shares. These sales could indicate various sentiments from the insiders about the company's valuation or future prospects. Notably, Dover missed Q3 revenue estimates, Salesforce provided strong FY24 guidance, Visa reported strong Q4 results, and J.B. Hunt saw a decrease in quarterly earnings year-over-year.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 12:32 pm

DAVE

EYPT

PLSE

Insider purchases were made in EyePoint Pharmaceuticals, Dave Inc., and Pulse Biosciences, signaling potential confidence in these companies. EyePoint Pharmaceuticals had a significant purchase by Cormorant Global Healthcare Master Fund LP, while also conducting an upsized public offering. Dave Inc. saw a purchase by Director Yadin Rozov following positive quarterly results. Pulse Biosciences had insider buying by Director Robert Duggan, as the company prepares for a catheter ablation feasibility study.

Portfolio Pulse from Avi Kapoor

December 07, 2023 | 11:44 am