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RIVN

Rivian's stock price has declined following the release of their 2023 delivery and production numbers, which investors may have found disappointing.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 3:02 pm

LBPH

Longboard Pharmaceuticals Inc (NASDAQ:LBPH) reported positive topline data from the PACIFIC Phase 1b/2a study of bexicaserin (LP352) for seizures associated with Developmental and Epileptic Encephalopathies (DEEs). The study showed a significant reduction in seizure frequency compared to placebo, with favorable safety and tolerability results. Following the news, LBPH stock soared over 200%, trading at $17.52.

Portfolio Pulse from Vandana Singh

January 02, 2024 | 2:56 pm

AVXL

LBPH

LMDX

U.S. stocks opened lower with the Dow Jones falling over 100 points. The S&P Global manufacturing PMI was revised down to 47.9 in December from a preliminary 48.2 and November's 49.4, indicating contraction. Energy shares rose by 1.1%, while information technology shares fell by 1.8%. Longboard Pharmaceuticals (LBPH) surged 198% on positive study data, while Anavex Life Sciences (AVXL) dropped 32% after an update on its Rett Syndrome program. LumiraDx (LMDX) fell 34% after agreeing to sell its technology platform to Roche. Oil and gold prices saw slight increases.

Portfolio Pulse from Avi Kapoor

January 02, 2024 | 2:53 pm

AFM

BTO

OGC

ORA

The article highlights four mining stocks to watch in 2024 due to favorable sector trends: Aura Minerals, OceanaGold, Alphamin Resources, and B2Gold. Aura Minerals has shown strong revenue growth and pays a 7.2% dividend. OceanaGold, despite recent setbacks, is focusing on debt repayment and operational efficiency, with a low P/E ratio and high net profit margin. Alphamin Resources, a significant tin producer, has robust financials and pays a 6.4% dividend. B2Gold faces permitting and political challenges but has no debt and pays a 5.1% dividend.

Portfolio Pulse from Stjepan Kalinic

January 02, 2024 | 2:41 pm

META

RBLX

Meta Platforms, Inc. (NASDAQ:META) has permanently reduced the price of its Quest 2 VR headset following the launch of Quest 3. The 128GB model is now $249, down from $299, and the 256GB model is $299, down from $349. Prices for various Quest 2 accessories have also been lowered. This move comes after a previous price increase in July 2022 and a reversion to the original price in June. The price cut aims to make VR more accessible and boost sales, which have been affected by shoppers' reluctance to try on headsets in stores due to hygiene concerns. Meta's VR platform includes over 500 games, with Roblox Corp (NYSE:RBLX) available on the Quest via the Meta Quest Store. META shares were down 1.31% at $349.31 in the last check.

Portfolio Pulse from Anusuya Lahiri

January 02, 2024 | 2:41 pm

KSCP

Knightscope, Inc. (NASDAQ:KSCP) has received an order for 13 K1 Blue Light E-Phones from its Authorized Partner TS&L for installation at Georgia State University. This is part of a larger expected order of over 50 emergency communication devices for the university's downtown Atlanta campus. The K1 E-Phones are designed to provide reliable communication in emergencies, especially when cell service is unavailable or cell phone batteries are dead.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:40 pm

BETS

Bit Brother Limited (BETS) has entered into a consulting agreement with Cruxforce, LLC to locate a mining farm with sufficient power supply for their third site. This move comes as Bitcoin prices surged past $45,000 in December 2023, sparking investor interest. The company aims to enhance performance and expand market share in the cryptocurrency industry with a new site that can support up to 40MW power supply, which is critical for the operation of mining equipment.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:27 pm

DASH

DoorDash, Inc (NASDAQ:DASH) is expanding its global presence and diversifying its services beyond restaurant meal deliveries. The company acquired Finland's Wolt, extending its reach to 27 countries. With substantial free cash flow, DoorDash is investing in new markets, including retail and grocery delivery, partnering with companies like BJ's Wholesale Club and Dick's Sporting Goods. Despite industry challenges, DoorDash's Q3 revenue grew by 27% to $2.2 billion, and it holds a 59% market share in the U.S. restaurant delivery market. The company's stock is performing well, with plans for a $750 million stock buyback, although shares traded lower by 1.24% at $97.66 in the premarket.

Portfolio Pulse from Anusuya Lahiri

January 02, 2024 | 2:26 pm

MULN

Mullen Automotive, Inc. has delivered an additional 50 Class 1 EV cargo vans to Randy Marion Automotive Group, invoiced at $1,681,750. This brings the total number of vans delivered to 100, with an invoiced amount of $3,363,500. Mullen is on track to deliver 285 Class 1 vehicles by January 8, 2024. The Mullen ONE vans are produced in Mississippi and are designed for last-mile delivery with a 110-mile range and best-in-class features.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:25 pm

CIFR

Cipher Mining Inc. (NASDAQ:CIFR) reported a 7.4% increase in Bitcoin production in December 2023, mining approximately 465 BTC. The company sold about 228 BTC and ended the month with a balance of 796 BTC. Cipher Mining also acquired new mining rigs and reported $120 million in liquidity with no debt. The company's operational update highlighted optimal mining conditions and a focus on operations as key factors in their increased production.

Portfolio Pulse from Benzinga Newsdesk

January 02, 2024 | 2:17 pm