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MMAT

Meta Materials Inc (NASDAQ:MMAT) shares surged by 52.6% to $3.51 after the company announced an update on its investigation into potential naked short selling. The investigation, conducted by law firms Christian Attar and Warshaw Burstein, confirmed valid claims of market manipulation. Legal proceedings are expected to follow, and updates will be provided as more information becomes available.

Portfolio Pulse from Henry Khederian

May 21, 2024 | 2:08 pm

ODD

ODDITY Tech shares are trading lower following a short seller report.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 1:25 pm

BDRX

MMAT

SPT

Market-Moving News for May 21st includes significant updates for Biodexa Pharmaceuticals, Meta Materials, and Sprout Social. Biodexa Pharmaceuticals reported positive Phase 2 clinical trial results, Meta Materials announced potential legal action for market manipulation, and Sprout Social clarified that there is no plan to sell or take the company private.

Portfolio Pulse from ryanfaloona@benzinga.com

May 21, 2024 | 12:42 pm

GL

Globe Life has received a preliminary, informal inquiry from the SEC's Fort Worth Regional Office regarding recent short seller reports. The company intends to fully cooperate and does not believe it will result in a material loss.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 11:56 am

MMAT

Meta Materials shares are trading higher after the company announced that lawyers concluded that it has meritorious claims for market manipulation against several parties.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 11:30 am

TSLA

A coalition of Tesla Inc. (NASDAQ: TSLA) shareholders, including Amalgamated Bank and SOC Investment Group, is urging investors to reject CEO Elon Musk's $56 billion pay package ahead of the company's annual meeting. They argue Musk is too distracted by other ventures and not prioritizing Tesla's interests. The group also recommends voting against the reelection of directors Kimbal Musk and James Murdoch, citing governance issues.

Portfolio Pulse from Benzinga Neuro

May 21, 2024 | 10:53 am

EXAS

Exact Sciences announced that a District Court Judge denied in part Geneoscopy's motion to dismiss a patent infringement lawsuit filed by Exact Sciences. This ruling allows Exact Sciences to seek relief for Geneoscopy's future infringement and false advertising related to its Cologuard colorectal cancer screening test.

Portfolio Pulse from Benzinga Newsdesk

May 21, 2024 | 10:21 am

DIS

META

Elon Musk criticized companies, including Disney, for advertising on Meta Platforms despite allegations of child exploitation on Instagram. This follows a history of Musk's controversial statements and subsequent advertiser pullbacks from his platform, X.

Portfolio Pulse from Ananya Gairola

May 21, 2024 | 6:49 am

FFND

TSLA

Tesla shares fell on Monday despite broader market gains. Fund manager Gary Black dismissed concerns over shareholders potentially rejecting CEO Elon Musk's compensation plan, calling it 'insane fear-mongering.' Black expects shareholders to approve the plan in 2024, as they did in 2018. Black's Future Fund Active ETF holds Tesla shares, though at a reduced weighting compared to earlier this year. Tesla's plan to seek reapproval for Musk's 2018 compensation plan has met mixed reactions, with some fearing Musk might leave if not approved.

Portfolio Pulse from Shanthi Rexaline

May 21, 2024 | 6:33 am

NFLX

Netflix's hit series 'Baby Reindeer' could face legal action due to defamation claims by Fiona Harvey, who alleges she is the inspiration for a character in the show. Piers Morgan has highlighted this as a significant issue for Netflix, Richard Gadd, and Clerkenwell Films. Legal experts suggest potential claims for defamation and invasion of privacy.

Portfolio Pulse from Ananya Gairola

May 21, 2024 | 1:25 am