Streetbeat News

Legal

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CNTMF

MAPS

SNDL

Following a Florida Supreme Court decision, a report by Pablo Zuanic predicts a 400% growth in Florida's cannabis market if legalization passes in Nov. 2024, potentially increasing the market to $6B. Companies like Cansortium, AYR Wellness, iAnthus, SNDL, Trulieve, Planet 13, Cannabist, Cresco, Verano, and Curaleaf are expected to see significant valuation increases. The report also anticipates increased M&A activity and benefits for ancillary service providers like WM Technology.

Portfolio Pulse from Nicolás Jose Rodriguez

April 03, 2024 | 8:36 pm

OLN

Olin Corporation (NYSE:OLN) has filed antidumping and countervailing duty petitions against China, India, South Korea, Taiwan, and Thailand, alleging that imports of certain epoxy resins are unfairly traded and causing material injury to the U.S. epoxy resin industry. The petitions, part of the U.S. Epoxy Resin Producers Ad Hoc Coalition, claim these imports are subsidized by their governments, affecting U.S. pricing, production, sales, and earnings. The petitions aim to address the negative impact of these imports on the U.S. industry's sustainability and supply chain resiliency, vital for critical industries and compliance with U.S. legislation.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 8:10 pm

EAF

Nilesh Undavia and the Undavia Group, holding approximately 5.9% of GrafTech International Ltd. (NYSE:EAF) shares, have issued a letter urging shareholders to vote for Undavia's election to the board at the upcoming Annual Meeting on May 9, 2024. The letter criticizes the current board for poor decision-making, including the appointment of the former CFO as CEO, environmental risk mismanagement, and excessive director compensation despite significant shareholder value destruction. Shares have dropped 90% since the IPO, and bonds trade at 64 cents on the dollar. Undavia aims to add an independent, large shareholder perspective to the board to revive GrafTech's market leadership.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 7:54 pm

ABUS

MRNA

Arbutus Biopharma's stock surged over 20% after a U.S. District Court ruling allowed it to pursue a patent infringement claim against Moderna concerning the mRNA technology used in Moderna's Covid vaccine. The court's decision aligns closely with Arbutus' proposed interpretations of disputed terms, marking a significant win for Arbutus and potentially posing a challenge for Moderna as the case progresses.

Portfolio Pulse from Neil Dennis

April 03, 2024 | 7:37 pm

COIN

Crypto VC firm Paradigm, co-founded by Coinbase Global Inc. (NASDAQ:COIN) co-founder Fred Ehrsam, is reportedly raising a new fund between $750 million and $850 million. This follows a period of increased fundraising activity in the crypto sector, despite Paradigm's recent challenges, including a leadership shift and involvement in a class-action lawsuit related to its investment in FTX. The firm continues to invest in the crypto industry, with significant investments like in Merkle Manufactory.

Portfolio Pulse from Murtuza Merchant

April 03, 2024 | 7:33 pm

MRNA

Moderna's stock price is experiencing a downturn due to the public circulation of documents related to a patent infringement lawsuit filed by Arbutus/Genevant against Moderna.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 6:04 pm

DWAC

Two Florida men, Michael and Gerald Shvartsman, pleaded guilty to insider trading, making over $22 million from trades related to the public announcement of Trump Media & Technology Group going public via Digital World Acquisition Corp. (DWAC) and Benessere Capital Acquisition Corp. They are set for sentencing in July, with recommended prison time and forfeiture of profits. The case does not implicate Trump or Trump Media & Technology Group.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:29 pm

DIS

The Walt Disney Company (NYSE:DIS) announced that its full slate of 12 directors has been elected over the nominees of Trian and Blackwells at Disney's 2024 Annual Meeting of Shareholders. The election results are pending certification, with final tallies to be reported to the SEC. Disney's Board and management express gratitude to shareholders for their support and look forward to focusing on growth, value creation, and creative excellence.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 5:25 pm

ABUS

MRNA

Arbutus Biopharma's stock is trading higher due to the circulation of documents related to a patent infringement lawsuit between Arbutus/Genevant and Moderna.

Portfolio Pulse from Benzinga Newsdesk

April 03, 2024 | 4:57 pm

ARKK

ARKW

ROKU

Roku, Inc. (NASDAQ:ROKU) shares are trading lower after announcing a partnership with the NBA to launch the NBA FAST channel and NBA Zone exclusively on The Roku Channel. Despite this, Roku faced backlash for implementing mandatory dispute resolution terms, including forced arbitration, causing devices to become inoperable until users agreed to these terms. ROKU stock has lost over 5% in the past year, and investors can also gain exposure through ARK Innovation ETF (NYSE:ARKK) and ARK Next Generation Internet ETF (NYSE:ARKW).

Portfolio Pulse from Nabaparna Bhattacharya

April 03, 2024 | 4:26 pm