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LI

Li Auto Inc (NASDAQ:LI) shares dropped premarket Thursday after the company reduced its Q1 FY24 vehicle delivery guidance from 100,000-103,000 to 76,000-78,000, citing lower-than-expected order intake. The adjustment reflects a strategic shift back to focusing on core user groups and cities with higher purchasing power, aiming for sustainable growth by enhancing user value over competition.

Portfolio Pulse from Lekha Gupta

March 21, 2024 | 10:13 am

BNOX

Bionomics shares surged following the announcement of positive results from the Phase 2b ATTUNE trial of BNC210 for treating post-traumatic stress disorder.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 10:09 am

ARKG

ARKK

MRNA

PFE

Cathie Wood's Ark Invest has significantly increased its stake in Moderna, Inc. (MRNA), doubling its holdings since the fourth quarter, as indicated by recent purchases through its ARK Innovation ETF (ARKK) and Ark Genomic Revolution ETF (ARKG). This move comes as Moderna diversifies its product pipeline beyond its COVID-19 vaccine, Spikevax, and reports strong revenue figures. Meanwhile, Ark has sold off its shares in Pfizer, Inc. (PFE), a rival COVID-19 vaccine maker. Moderna's stock has seen a modest year-to-date gain, lagging behind the broader market, but analysts see a potential upside.

Portfolio Pulse from Shanthi Rexaline

March 21, 2024 | 10:00 am

AAPL

TCEHY

Epic Games, owned by Tencent (OTC:TCEHY), announced its expansion to iOS and Android platforms, aiming to offer equitable terms for all developers and a multi-platform experience. This move challenges the dominant app stores and follows a significant victory in Europe where Apple (NASDAQ:AAPL) reversed its ban on Epic Games, aligning with the Digital Markets Act.

Portfolio Pulse from Benzinga Neuro

March 21, 2024 | 9:50 am

USDT

The 'overnight effect' observed in traditional stock markets, where significant price movements occur outside regular trading hours, is being scrutinized for its relevance in the cryptocurrency market. Unlike the stock market, the crypto market operates 24/7, making it susceptible to news-driven fluctuations at any time. Studies, including one from the Federal Reserve Bank of New York, suggest that crypto might still be influenced by traditional market movements, particularly during the opening hours of other global markets. Factors such as global interdependence, investor sentiment, and the role of Tether (USDT) in the crypto market are crucial in understanding this dynamic. However, crypto's inherent features like decentralization, a continuous news cycle, and high volatility could mitigate the 'overnight effect'.

Portfolio Pulse from Murtuza Merchant

March 21, 2024 | 9:39 am

GOOG

GOOGL

RDDT

Wedbush's Dan Ives highlighted the upcoming Reddit Inc. IPO as a potential 'watershed' moment for the tech industry, emphasizing its engagement, advertising potential, and AI data generation capabilities. Ives predicts Reddit will hit $1 billion in revenue next year. The IPO is drawing attention for its potential impact on tech and AI, with Reddit having secured a $60 million deal with Alphabet Inc. ahead of its IPO, which could be priced at the top range of $31 to $34 per share.

Portfolio Pulse from Rounak Jain

March 21, 2024 | 9:38 am

BABA

EWU

Alibaba.com has seen a significant increase in the number of UK SME buyers at the March Expo 2024, indicating a shift towards digital sourcing channels. A survey of 500 UK SME decision makers revealed that 51% now source via online B2B marketplaces, highlighting Alibaba.com's role in providing access to a global product catalogue.

Portfolio Pulse from Charles Gross

March 21, 2024 | 9:33 am

RKLB

Rocket Lab USA, Inc. (NASDAQ:RKLB) successfully launched its fifth national security mission for the National Reconnaissance Office (NRO) from Launch Complex 2 in Wallops, Virginia. The mission, NROL-123 named 'Live and Let Fly', marks Rocket Lab's first NRO launch from the United States, adding to four previous NRO missions launched from New Zealand.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 9:24 am

EWG

NVO

Germany's Health Ministry has confirmed that no large volumes of Novo Nordisk's diabetes drug Ozempic are being exported out of the country, according to Reuters.

Portfolio Pulse from Charles Gross

March 21, 2024 | 9:21 am

IQ

iQIYI has successfully concluded the first season of 'Action Master,' a show dedicated to exploring the diverse appeal of action movies. This marks a significant achievement for iQIYI in promoting genre-specific content and engaging with a broad audience interested in action films.

Portfolio Pulse from Benzinga Newsdesk

March 21, 2024 | 9:21 am