Streetbeat News

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KGRN

NIO

PGJ

TSLA

XPEV

Nio Inc is launching a new mass-market EV brand, Onvo, targeting Tesla's Model Y, with plans to introduce a model under $30,000 in Europe next year. The Onvo brand will feature the L60 model, aiming for global launch by year-end, while a second sub-brand, Firefly, targets a 2025 release. Nio is expanding in Europe, moving away from its subscription model to increase distribution. Amid cost-cutting measures, Nio's stock has declined over the past year, but it remains accessible through ETFs like KGRN and PGJ.

Portfolio Pulse from Shivani Kumaresan

May 07, 2024 | 9:49 am

BYDDF

BYDDY

Warren Buffett-backed Chinese EV maker BYD Co is set to globally debut its first pickup truck, the BYD Shark, in Mexico on May 14. This marks BYD's first new model launch overseas in recent years, highlighting its focus on foreign markets due to restrictions on pickup trucks in China. The BYD Shark, larger than the Toyota Hilux, is built on BYD's DMO platform and is a potential competitor to Tesla's Cybertruck. The launch is part of BYD's strategy to diversify its product offerings, including entering the pickup truck market and challenging luxury automakers with its premium sedan. A U.S. manufacturing lobby group has warned that the entry of Chinese EV makers into the American market could be a significant threat to the U.S. auto sector.

Portfolio Pulse from Benzinga Neuro

May 07, 2024 | 8:28 am

AAPL

Elon Musk's AI chatbot, Grok, has begun predicting future events, including summarizing an upcoming Apple Inc. event for launching new iPad products before it occurs. This feature is available to Premium subscribers on X (formerly Twitter), allowing them to read news summaries. The incident has sparked discussions online, with tech YouTuber Marques Brownlee (MKBHD) sharing a screenshot of Grok's prediction. This has led to jokes about Brownlee's potential critique of Grok, referencing his past reviews of tech products. Meanwhile, Apple is expected to launch new iPad models with M4 and M2 chips.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 7:26 am

BTCUSD

DOGEUSD

ETHUSD

Mark Cuban supports Dogecoin co-founder Billy Markus' social media activity, emphasizing the value of 'positive trolling.' Despite withdrawing from Dogecoin, Markus holds a small amount of DOGE and Bitcoin. Cuban, once a critic of cryptocurrencies, now advocates for Dogecoin, Bitcoin, and Ethereum, even accepting DOGE for Dallas Mavericks tickets and merchandise. Markus' engagement on X and Cuban's support may boost Dogecoin investor confidence, despite a recent decline in social activity around Bitcoin ETFs.

Portfolio Pulse from Kaustubh Bagalkote

May 07, 2024 | 6:27 am

ANGI

Angi, in collaboration with BlueRecruit, is launching initiatives to address the skilled trades labor shortage, including the Angi Trade Up Scholarship Program and a digital career fair. The scholarship program will award $2,500 to students in construction-related trade programs, while the digital career fair aims to connect BlueRecruit's job seekers with Angi's network of home service professionals. These efforts are in response to the growing concern of an aging trades workforce and the need to attract more young people to the trades.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:39 pm

VCYT

Veracyte, Inc. (NASDAQ:VCYT) announced significant findings from 14 studies presented at AUA 2024, demonstrating the effectiveness of its Decipher Prostate and Decipher Bladder Genomic Classifiers in providing better prognostic information for prostate and bladder cancer patients. The studies also highlighted the utility of the Decipher GRID tool in advancing disease understanding. These findings underscore Veracyte's commitment to evidence-based diagnostics and its potential to improve patient outcomes through personalized care.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:30 pm

SONY

PlayStation faced significant backlash after announcing a requirement for Helldivers 2 players on PC to link their Steam accounts to a PlayStation Network (PSN) account, leading to over 14,000 negative reviews on Steam and a review score drop from "mostly positive" to "mixed". Following community outrage, PlayStation reversed the decision, canceling the planned account linking update.

Portfolio Pulse from Franca Quarneti

May 06, 2024 | 7:28 pm

MSTR

Michael Saylor, MicroStrategy's executive chairman, criticized the current global financial system for being outdated and championed Bitcoin as a superior digital asset, calling it 'digital gold' and the 'apex property of the human race.' He emphasized Bitcoin's attributes like decentralization, scarcity, and security, advocating for a financial system overhaul to accommodate the digital era. His views were shared at a conference attended by Fortune 1000 company representatives, highlighting the need for a system that reflects the digital age's proficiency.

Portfolio Pulse from Murtuza Merchant

May 06, 2024 | 4:37 pm

SBUX

Starbucks Corp (NASDAQ:SBUX) is experiencing a significant sales decline, with a deceleration pace in same-store sales rarely seen outside major economic crises, according to BofA Securities. Analyst Sara Senatore maintains a Buy rating on Starbucks, with a price target of $108, despite the sales slump. The decline is attributed to a social media narrative around Starbucks' position on the Middle East, rather than consumer check fatigue or pricing issues, as Starbucks' pricing remains competitive. The company's Net Promoter Score has also dropped sharply from October to November 2023.

Portfolio Pulse from Priya Nigam

May 06, 2024 | 4:02 pm

TCNNF

The Florida GOP has officially opposed a marijuana legalization initiative, enabling Governor Ron DeSantis to fundraise for a campaign against it. DeSantis argues that legalization would worsen the state by increasing marijuana presence and is motivated by profit for certain individuals. Despite opposition, economic analysts predict the initiative could generate significant sales tax revenue. Trulieve, a major medical cannabis company, has been the primary financial supporter of the initiative, contributing significantly towards its campaign.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 2:54 pm