Streetbeat News

Legal

TSLA

Tesla, Inc (NASDAQ:TSLA) faces legal challenges over its Autopilot system, with allegations of misleading marketing and failure to deliver promised capabilities. The company recalled 2.03 million vehicles due to concerns about the Autopilot system. Lawsuits in the U.S. include claims from families of individuals who died in accidents involving Autopilot. A trial for a fatal crash in California is set for March. Tesla has won some cases by attributing accidents to driver error. Regulators are concerned that the Autopilot system might encourage misuse, leading to accidents. TSLA shares were up by 0.43% at $252.13.

Portfolio Pulse from Anusuya Lahiri

December 15, 2023 | 5:52 pm

COIN

The SEC has rejected Coinbase Global Inc.'s petition for rulemaking regarding a clearer regulatory framework for digital assets. Coinbase had submitted a 30-page document to the SEC, which was initially ignored until Coinbase sought judicial intervention. SEC Chair Gary Gensler supported the rejection, stating that current securities laws apply to crypto markets, the SEC is proactive in addressing crypto through rulemaking, and the SEC prioritizes maintaining discretion in its rulemaking agenda.

Portfolio Pulse from Murtuza Merchant

December 15, 2023 | 5:24 pm

AAL

The Panamanian government has ordered the shutdown of First Quantum Minerals' Cobre Panama copper mine due to a Supreme Court ruling and protests. This closure, which affects a significant portion of Panama's GDP and employment, exacerbates the global copper deficit, with potential impacts on prices and economic growth. The copper market is already facing a projected deficit due to increased demand, particularly from the electric vehicle sector, and production cuts from other major miners like Anglo American.

Portfolio Pulse from Stjepan Kalinic

December 15, 2023 | 3:33 pm

CHSN

Nate Anderson of Hindenburg Research has tweeted about China-based pump and dump chatroom operators aggressively promoting CHSN. He suggests that CHSN's recent price increase is due to wash-trading and predicts a sudden collapse of its stock price.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 3:18 pm

COIN

The SEC has denied a petition for rulemaking filed on behalf of Coinbase, according to Bloomberg. This decision could have regulatory implications for Coinbase and potentially affect its operations and investor sentiment.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 2:35 pm

AYRO

Thomas Wittenschlaeger has resigned from his positions as CEO, employee, and director of AYRO Inc, effective December 13, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 15, 2023 | 2:05 pm

AAPL

DELL

GOOG

GOOGL

HPE

HPQ

Apple Inc (NASDAQ:AAPL) stock hit a new 52-week high at $199.62 on Dec. 14, closing at $198.11. The stock has risen 58.40% this year, with technical indicators like the Golden Cross suggesting a short-term bullish trend. However, the RSI is nearing overbought territory, signaling potential near-term correction. Apple's App Store revenue, a significant part of its earnings, faces risks due to antitrust rulings and investigations, as highlighted by Epic Games' recent win against Google. Apple's P/E ratio is higher than the sector median and its peers, including Dell Technologies Inc (NYSE:DELL), HP Inc (NYSE:HPQ), and Hewlett Packard Enterprise Co (NYSE:HPE).

Portfolio Pulse from Surbhi Jain

December 15, 2023 | 1:35 pm

TSLA

Univision has claimed copyright on a YouTube video featuring Tesla's Gen 2 Optimus robot, which has led to a response from Elon Musk. Farzad Mesbahi, a former Tesla employee and stockholder, posted a video including the Optimus bot, and received a copyright notice from Univision. Mesbahi and others have been prevented from monetizing their content due to this claim. Tesla's Gen 2 Optimus robot has been upgraded with faster walking speed, lighter weight, and improved body control, including hands capable of delicate tasks.

Portfolio Pulse from Anan Ashraf

December 15, 2023 | 1:22 pm

CLVR

KHRNF

PCLOF

Colombia's Senate has postponed the consideration of a bill to legalize marijuana, despite the measure having previously advanced through the Chamber of Representatives and a Senate committee. President Gustavo Petro criticized the Senate's decision, stating it would benefit illegal drug trade and increase violence. If the reform is to be pursued, the legislative process must restart next year. Cannabis companies like Clever Leaves Holdings Inc. (CLVR), PharmaCielo Ltd. (PCLOF), and Khiron Life Sciences Corp. (KHRNF) could benefit from such policy changes. The article also promotes Benzinga PotProfits, a service for cannabis stock investment opportunities.

Portfolio Pulse from Jelena Martinovic

December 15, 2023 | 1:21 pm

BAC

BCS

Elon Musk is ordered by Judge Laurel Beeler to testify again in the SEC's investigation into his $44-billion Twitter takeover. The SEC claims new documents require Musk's further testimony. Musk's history with the SEC includes a 2018 settlement over misleading tweets, which he is now appealing to the Supreme Court. The SEC is also probing the timeliness and accuracy of Musk's disclosures during the Twitter acquisition. Banks that funded the takeover, including Morgan Stanley, Bank of America, and Barclays, face potential losses on their $13 billion backing, with the debt's value dropping and doubts about Twitter's management under Musk.

Portfolio Pulse from Neil Dennis

December 15, 2023 | 1:20 pm