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TSLA

Cryptocurrencies like Bitcoin, Ethereum, and Dogecoin have seen significant spikes, with Bitcoin nearing all-time highs. The cannabis industry reacts positively to Biden's call for cannabis reform. Cathie Wood sells $13.15M worth of Coinbase shares, opting for Palantir stock instead. Tesla's Bitcoin investment yields a substantial unrealized profit. The S&P 500 surges to a new high, driven by tech giants and improved investor sentiment. Biden's economic policies and calls for cannabis reform mark significant political statements. Tesla faces a valuation drop and legal challenges, while the EV market sees competition from Rivian.

Portfolio Pulse from Akanksha Bakshi

March 08, 2024 | 1:12 pm

BGNE

NVS

SDZNY

Beigene has initiated patent infringement lawsuits against Sandoz and MSN Pharmaceuticals, as disclosed in an 8-K filing.

Portfolio Pulse from Charles Gross

March 08, 2024 | 11:09 am

META

South Korea's antitrust watchdog, the Korea Fair Trade Commission (FTC), is reportedly considering sanctions against Meta Platforms Inc. (NASDAQ:META) for alleged consumer protection failures on its Facebook and Instagram marketplaces. The FTC's investigation, which began last year, has progressed to the point where an examination report has been sent to Meta, accusing it of not taking sufficient steps to resolve disputes and protect users. This is part of a broader pattern of regulatory challenges Meta has faced regarding its marketplace operations.

Portfolio Pulse from Benzinga Neuro

March 08, 2024 | 9:44 am

TSLA

Tesla Inc (NASDAQ:TSLA) has reduced the estimated range of its Model Y Performance variant by 6 miles, now totaling a 24-mile reduction since the start of the year. The EPA estimated range is now 279 miles, down from 303 miles. This adjustment is attributed to vehicle enhancements and updated EPA testing guidance. Additionally, Tesla faces lawsuits alleging false advertising of vehicle ranges, with plaintiffs directed to individual arbitrations.

Portfolio Pulse from Anan Ashraf

March 08, 2024 | 8:14 am

TSLA

Tesla Inc (NASDAQ:TSLA) has experienced a significant market value decline of $234 billion in 2024, dropping its market cap to just over $550 billion, a 29% decrease in less than 10 weeks. This loss exceeds the market caps of McDonald's, Disney, and Nike combined. Despite a five-fold increase since 2020, Tesla's stock has fallen about 60% from its peak in November 2021. Factors contributing to this decline include reduced demand for electric vehicles, competition in China, and the impact of Federal Reserve's interest rate hikes. Challenges such as a suspected arson at its Giga Berlin factory and significant price reductions in China have further impacted Tesla's performance.

Portfolio Pulse from Benzinga Neuro

March 08, 2024 | 4:15 am

TSLA

Tesla Inc (NASDAQ:TSLA) faced a lawsuit from buyers claiming the company misrepresented vehicle range. A federal court recommended individual arbitrations instead of a class action. The plaintiffs alleged Tesla overstated the travel distance of its cars on a single charge and misrepresented the driving range on dashboards. Judge Yvonne Gonzalez Rogers did not dismiss the lawsuits but mentioned the possibility of an injunction against Tesla under certain conditions. Tesla had earlier revised its range estimates for some models following new government testing regulations.

Portfolio Pulse from Anan Ashraf

March 08, 2024 | 2:59 am

WSR

The Board of Trustees of Whitestone REIT has rejected the nomination of two candidates proposed by Erez Asset Management for inclusion on the REIT's board. This decision indicates a potential conflict between the REIT's current management and Erez Asset Management regarding the direction of the company.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 10:15 pm

DWAC

SPY

A judge has ruled that former President Donald Trump cannot delay the enforcement of the $83.3M defamation verdict in favor of E. Jean Carroll. This decision may have implications for Trump's financial and public standing.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 10:00 pm

META

SONY

UMGNF

WBD

TikTok is in a licensing dispute with Universal Music Group NV (UMGNF) and is nearing the end of its deal with the National Music Publishers Association (NMPA), leading to the removal of music co-written by UMGNF songwriters. The NMPA advises members to negotiate directly with TikTok or explore enforcement options. TikTok's parent, ByteDance, reported Q3 2023 revenues of $30.9 billion, close to Meta Platforms Inc's (META) $34 billion. The dispute could escalate if other publishers like Sony Group Corp. (SONY) and Warner Bros. Discovery Inc's (WBD) Warner Chappell join, affecting more music on the platform.

Portfolio Pulse from Franca Quarneti

March 07, 2024 | 8:37 pm

AMZN

GOOGL

META

SNAP

SPY

Top Democrat on the House Energy and Commerce Committee, Pallone, expressed support for a bill aimed at cracking down on TikTok. This move could signal increased regulatory scrutiny for social media and tech companies.

Portfolio Pulse from Benzinga Newsdesk

March 07, 2024 | 8:34 pm