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In a Fox Business debate, Peter Schiff, a gold proponent, advised Natalie Brunell to sell all her Bitcoin to avoid future losses, criticizing Bitcoin's lack of intrinsic value. Brunell defended Bitcoin, highlighting its advantages over gold, such as portability and verifiability, and its superior long-term performance. The debate underscores the ongoing discussion about the role of cryptocurrencies and gold as stores of value, setting the stage for further discussions at the Future of Digital Assets conference.

Portfolio Pulse from Murtuza Merchant

April 16, 2024 | 4:54 pm

AMZN

DIS

DKNG

FLUT

PARA

SSP

Caitlin Clark, a standout from Iowa, was selected as the No. 1 pick in the 2024 WNBA Draft by the Indiana Fever, sparking expectations of increased viewership and betting interest. The Fever, aiming to return to the playoffs, will benefit from Clark's high profile, as will media partners like Disney, E.W. Scripps Company, Paramount Global, and Amazon.com Inc, with more games televised. Sportsbooks like DraftKings Inc and Flutter Entertainment's FanDuel are also seeing heightened interest, with favorable odds for the Fever and Clark.

Portfolio Pulse from Chris Katje

April 16, 2024 | 4:37 pm

GHBWF

GLASF

Kyle Kazan, CEO of Glass House Brands Inc., emphasized the need to end imprisonment for cannabis and advocated for federal legalization at the Benzinga Cannabis Capital Conference. He highlighted the company's success in California, reporting an 89% surge in annual revenue to $160.8 million and the introduction of a new value cannabis brand, Allswell, aimed at competing with the illicit market. Despite challenges like high taxes and a thriving traditional market, Glass House plans to continue its expansion in California.

Portfolio Pulse from Jelena Martinovic

April 16, 2024 | 4:32 pm

ITCI

Intra-Cellular Therapies Inc (NASDAQ:ITCI) announced positive topline results from Study 501 for lumateperone 42 mg as an adjunctive therapy for major depressive disorder (MDD), showing significant symptom relief. The results demonstrated a statistically significant reduction in the MADRS total score compared to placebo at Week 6. The company's shares surged 27.60% to $82.64 following the announcement. Further results from Study 502 are expected in the second quarter.

Portfolio Pulse from Vandana Singh

April 16, 2024 | 4:13 pm

RGTI

Rigetti Computing's stock is trading higher following the announcement of completing a three-year project to build and operate one of the first quantum computers in the UK.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:05 pm

INTC

Intel has announced its support for an open platform for enterprise artificial intelligence (AI), aiming to foster innovation and ease of use in AI technologies. This move is expected to enhance Intel's position in the competitive AI market by promoting interoperability and collaboration among developers and businesses.

Portfolio Pulse from Benzinga Newsdesk

April 16, 2024 | 4:04 pm

AMZN

ETSY

Ahead of Taylor Swift's new album release, fans are flocking to Amazon, Etsy, and Redbubble for unauthorized merchandise, driving significant sales. Etsy vendors reported $3 million in sales from Swift-inspired friendship bracelets alone. Swift's influence is evident in the $4.3 billion contribution to the U.S. GDP from her concerts and the $1.82 billion revenue in 2023. The surge in bootleg merchandise sales, with fans spending an average of $142 per transaction, underscores the challenges official merchandise markets face with resellers.

Portfolio Pulse from Benzinga Neuro

April 16, 2024 | 3:55 pm

MSOS

YOLO

Florida is on the verge of legalizing recreational marijuana, with a vote set for November on Amendment 3, which would legalize adult non-medical use starting May 2025. Executives from AYR Wellness, Verano Holdings, and The Cannabist Company discussed the potential market boom at the Benzinga Cannabis Capital Conference, highlighting Florida's significant medical market and the expected sales increase. Verano Holdings is preparing by expanding its presence, while The Cannabist Company is gearing up for regulatory changes. AdvisorShares' CIO Dan Ahrens, managing MSOS and YOLO ETFs, is positioning investments in anticipation of regulatory momentum in Florida.

Portfolio Pulse from Adam Eckert

April 16, 2024 | 3:52 pm

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GGME

GOOG

GOOGL

PNQI

Adobe Inc (NASDAQ:ADBE) is developing an AI model for video content creation to be integrated into Premiere Pro, competing with OpenAI's Sora and Alphabet Inc's (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Imagen 2. The model introduces features for object addition/removal and generative extension, with plans to incorporate Content Credentials for identifying AI-generated content. Adobe is also integrating third-party tools from OpenAI, Runway, and Pika Labs, addressing Wall Street's concerns about AI-generated content tools. Adobe's stock is accessible via Invesco Next Gen Media And Gaming ETF (NYSE:GGME) and Invesco Nasdaq Internet ETF (NASDAQ:PNQI).

Portfolio Pulse from Anusuya Lahiri

April 16, 2024 | 3:51 pm