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WIF

Dogwifhat (WIF), a Solana-based memecoin, surged 34% to an all-time high of 77 cents with a trading volume of $180.9 million, positioning it fifth among meme coins by market cap. The broader crypto market rally, including Bitcoin surpassing $60,000, contributed to WIF's rise. With predictions of reaching a $1 billion market cap soon and potential listings on centralized exchanges, WIF's performance reflects the growing interest in meme coins. Solana's total value locked also increased, indicating a shift from Ethereum and Bitcoin to altcoins.

Portfolio Pulse from Khyathi Dalal

February 28, 2024 | 2:26 pm

VIRI

Virios Therapeutics, Inc. (VIRI) issued a shareholder letter detailing corporate progress and upcoming milestones for 2024, including a special shareholder meeting for a potential reverse stock split, a 10% salary reduction for employees in exchange for stock options, and updates on their IMC-2 Long-COVID and IMC-1 Fibromyalgia development programs. The letter emphasizes strategic planning, operational expense management, and the advancement of novel antiviral therapies.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:21 pm

TU

TELUS has partnered with Vevo to become its direct ad sales representative in Canada, offering advertisers access to Vevo's premium music video content across various platforms. This collaboration aims to provide value for local brands and media agencies by connecting them with audiences through influential music videos, leveraging TELUS' reach in the Canadian market.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:18 pm

BITF

BTBT

CLSK

HIVE

HUT

MARA

RIOT

Bitcoin mining stocks such as Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), CleanSpark Inc (CLSK), Hut 8 Corp (HUT), HIVE Digital Technologies Ltd (HIVE), Bit Digital Inc (BTBT), and Bitfarms Ltd (BITF) are experiencing gains due to the continued rise in Bitcoin's price, which recently surpassed $60,000. This surge is attributed to increased demand following the approval of spot ETFs and anticipation of the upcoming halving event in April. CleanSpark's recent strong earnings report and the upcoming earnings reports from other miners are also contributing factors.

Portfolio Pulse from Adam Eckert

February 28, 2024 | 2:16 pm

ADIL

Adial Pharmaceuticals Inc (NASDAQ:ADIL) announced the issuance of a new US patent (number 11,905,562) for its lead investigational drug, AD04, targeting the serotonin transporter gene for treating opioid use disorder (OUD). This patent strengthens Adial's portfolio, highlighting AD04's potential in treating OUD and other drug dependencies beyond its initial focus on alcohol use disorder (AUD). The company remains committed to advancing AD04 towards commercialization for AUD and exploring its efficacy for OUD and other indications.

Portfolio Pulse from Vandana Singh

February 28, 2024 | 2:16 pm

ADIL

Adial Pharmaceuticals has announced a new patent that enhances its portfolio, specifically covering AD04's capability to target the serotonin transporter gene for potentially treating opioid use disorder. This development could significantly impact Adial's position in the market for opioid use disorder treatments.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:15 pm

MC

Moelis & Company (NYSE:MC) announced the appointment of Stephen Trauber as Chairman and Global Head of Energy and Clean Technology, along with the hiring of energy bankers Muhammad Laghari and Alexander Burpee as Managing Directors. This move aims to expand Moelis's global energy franchise, leveraging Trauber's extensive experience in energy transactions and the new hires' expertise. The firm emphasizes its commitment to the energy sector's strategic evolution, including clean technology and energy transition, following the launch of its Clean Technology Group in September 2023.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:14 pm

CHPT

WFC

ChargePoint (CHPT), EnTech Solutions, and Wells Fargo (WFC) announced a collaboration to provide simplified, flexible financing solutions for businesses aiming to build out charging infrastructure for EV fleets. The partnership focuses on the eSkid charging solution, a rapidly deployable EV charging platform that utilizes ChargePoint hardware and software, offering an affordable financial package with various term options. This initiative aims to reduce the financial and logistical barriers companies face when installing EV charging infrastructure, promoting sustainability and the growth of electric vehicle utilization.

Portfolio Pulse from Benzinga Newsdesk

February 28, 2024 | 2:12 pm

BIDU

IQ

Baidu, Inc (NASDAQ: BIDU) reported a 6% year-on-year revenue growth for Q4 fiscal 2023, reaching $4.92 billion and surpassing the consensus of $4.86 billion. Adjusted earnings per ADS were $3.08, beating the consensus of $2.48. Baidu's Core revenue grew by 7% to $3.87 billion, with online marketing revenue up 6% and non-online marketing revenue, driven by AI Cloud business, increasing by 9%. IQIYI, Inc (NASDAQ: IQ) also reported a 2% revenue increase to $1.09 billion. Baidu's R&D expenses rose by 11%, attributed to investments in ERNIE Bot research. The company's adjusted EBITDA margin expanded by 100 basis points to 26%, with Core adjusted EBITDA margin up by 200 basis points to 30%. Baidu ended the quarter with $28.9 billion in cash and equivalents.

Portfolio Pulse from Anusuya Lahiri

February 28, 2024 | 2:10 pm

ACMR

ACM Research, Inc (NASDAQ:ACMR) reported Q4 fiscal 2023 revenues of $170.3 million, surpassing analyst expectations and marking a 56.9% year-over-year increase. The company's adjusted EPS of $0.43 also beat forecasts, contributing to a significant stock price surge. Despite a decrease in total shipments and a slight decline in adjusted gross margin, ACMR's strong sales in various equipment and services sectors and a positive outlook for FY24, projecting revenues between $650 million and $725 million, have bolstered investor confidence. The company's performance and future prospects are influenced by macroeconomic factors, including interest rates, inflation, and labor market conditions.

Portfolio Pulse from Anusuya Lahiri

February 28, 2024 | 2:07 pm