Streetbeat News

Insider Trading

DWAC

Three individuals accused of insider trading prior to the proposed merger of Digital World Acquisition Corp (DWAC) with Trump Media & Technology Group pleaded not guilty. The accused allegedly traded illegally in DWAC before the merger announcement, which led to a quadrupling of DWAC's share price. The trial is scheduled for March 18, 2024. The proposed merger has seen several delays and if it closes, Trump Media would gain access to more than $1 billion in cash from DWAC’s institutional investors.

Portfolio Pulse from Benzinga Neuro

July 21, 2023 | 12:34 am

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares are trading lower today, despite being up nearly 17% over the last month. Morgan Stanley analyst Andrew Percoco reiterated an Equal-Weight rating and maintained a $15 price target for the stock. Two Plug Power insiders reported large acquisitions of company stock options. 20.29% of available shares are currently being sold short.

Portfolio Pulse from Erica Kollmann

July 20, 2023 | 3:38 pm

BCOV

EFSH

MTEM

THRX

Insiders at Theseus Pharmaceuticals, Molecular Templates, Brightcove, and 1847 Holdings have recently made significant purchases of their companies' shares. Theseus Pharmaceuticals' 10% owner bought 700,000 shares, Molecular Templates' 10% owner acquired over 4 million shares, Brightcove's 10% owner purchased nearly 8,000 shares, and 1847 Holdings' 10% owner bought over 176,000 shares. These transactions may indicate the insiders' confidence in their companies' prospects.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 12:58 pm

FAST

LMT

NVCT

Insiders at Nuvectis Pharma, Fastenal Company, and Lockheed Martin have recently made notable purchases of their companies' stocks. This could indicate their confidence in the companies' prospects or that they view the stocks as a bargain. Nuvectis Pharma recently announced the FDA clearance of NXP900 IND. Fastenal reported Q2 sales growth of 5.9% Y/Y to $1.88 billion, slightly missing the consensus of $1.89 billion. Lockheed Martin reported Q2 FY23 net sales growth of 8.1% Y/Y to $16.69 billion, above the consensus of $15.91 billion.

Portfolio Pulse from Lisa Levin

July 20, 2023 | 10:59 am

THRX

James B. Tananbaum of Foresite Capital Management V, LLC has purchased 700,000 shares of Theseus Pharmaceuticals at an average price of $2.97 per share, according to a Form 4 filing with the SEC.

Portfolio Pulse from Happy Mohamed

July 19, 2023 | 6:57 pm

KRUZ

NANC

Legislation has been introduced by two members of Congress to ban members of Congress from buying and selling stocks. The bill, introduced by Sens. Kirsten Gillibrand (D-NY) and Josh Hawley (R-MO), would prevent members of Congress, the president, vice president, executive branch employees, and Capitol Hill aides from owning stocks in individual companies. They would, however, be allowed to own mutual funds and index funds. The bill also calls for penalties for those who violate the rules. The legislation comes amid strong public support for such a ban.

Portfolio Pulse from Chris Katje

July 19, 2023 | 5:19 pm

Tennessee Representative Mark Green reported a sale of Energy Transfer (NYSE:ET) stock on July 18, 2023, valued between $100,001 - $250,000. Congressional transactions are required to be disclosed and can be a factor for investors to consider, although they should not be the primary basis for investment decisions. Energy Transfer shares were trading up 0.42% at $13.16 at the time of the report.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 3:05 pm

SRM

SRM Entertainment, Inc (NASDAQ:SRM) is set to start trading on NASDAQ on July 20. The company's IPO shares are expected to be priced between $4.50 and $5.50 per share. An insider lock-up period of 180 days is set to end on January 16, 2024.

Portfolio Pulse from Benzinga Insights

July 19, 2023 | 3:00 pm

CRLBF

DBCCF

GLASF

HITI

ITHUF

MMNFF

SMG

UNRV

The article reports on recent leadership changes in the US cannabis industry. The Cannabis Regulators Association (CANNRA) has announced new leadership and expanded membership. Maryland Governor Wes Moore has made key appointments to two new cannabis-related agencies. Minnesota is preparing for marijuana legalization with the appointment of a new director for its regulatory agency. The Arkansas Medical Marijuana Commission has a new member. There have been board changes at Decibel Cannabis Company, High Tide Inc., Cresco Labs, Glass House Brands, and Craftport Cannabis Corp. Scotts Miracle-Gro Company has appointed a new board member. Unrivaled Brands, iAnthus Capital Holdings, PharmaCielo, and MedMen Enterprises have also made key appointments.

Portfolio Pulse from Jelena Martinovic

July 19, 2023 | 1:29 pm

BYRN

JYNT

NVCT

Insiders at Joint Corp (JYNT), Nuvectis Pharma (NVCT), and Byrna Technologies (BYRN) have recently made notable stock purchases. Jefferson Gramm, 10% owner of Joint Corp, acquired 22,463 shares at an average price of $13.03. Ron Bentsur, CEO and Chairman of Nuvectis Pharma, bought 260 shares at an average price of $15.52. Luan Pham, Chief Marketing and Revenue Officer at Byrna Technologies, purchased 5,508 shares at an average price of $3.73.

Portfolio Pulse from Lisa Levin

July 19, 2023 | 1:01 pm