Streetbeat News

Regulatory

ACB

CGC

CURLF

TLRY

Germany has set a THC limit of 3.5 nanograms per milliliter for drivers, equivalent to 20 milligrams of alcohol per 100 milliliters of blood. The new law also prohibits alcohol consumption for drivers who have used cannabis. The Bundestag's decision has faced opposition from the conservative Union Fraction (CDU/CSU). Additionally, federal states will have more rights to regulate official growers associations starting July 1. Major cannabis companies operating in Germany include Aurora Cannabis Inc. (NASDAQ:ACB), Canopy Growth Corporation (NASDAQ:CGC), Tilray Brands, Inc. (NASDAQ:TLRY), and Curaleaf Holdings, Inc. (OTC:CURLF).

Portfolio Pulse from Jelena Martinovic

June 07, 2024 | 3:22 pm

PLUG

Plug Power, Inc. (NASDAQ:PLUG) shares are trading slightly lower following the company's annual meeting where it outlined its short-term business priorities, including hydrogen production in Georgia and Tennessee, and equipment sales. Additionally, a government watchdog has been called to investigate a recent $1.66 billion financing extended to Plug Power, raising concerns about potential conflicts of interest and risks to U.S. taxpayers.

Portfolio Pulse from Nabaparna Bhattacharya

June 07, 2024 | 3:12 pm

PRST

Presto Automation discovered that Rock Creek Advisors, an unaffiliated financial advisor, posted unauthorized information on LinkedIn about the company's plans. Investors are advised to only trust official SEC filings and authorized public statements.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 3:04 pm

CSIQ

FSLR

JKS

RUN

The US is moving closer to imposing tariffs on Asian solar panels following a recent agency vote. This decision could impact several US-listed companies involved in the solar industry.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 3:04 pm

SPWR

SunPower Corporation (NASDAQ:SPWR) shares are trading higher amid a surge in meme stocks and anticipation of a livestream by Roaring Kitty. The stock has a high short-interest and has moved in tandem with GameStop. Additionally, SunPower shares rallied due to potential U.S. investigations into Chinese solar companies. Analysts have a neutral view on the stock, with some expecting a significant fall.

Portfolio Pulse from Erica Kollmann

June 07, 2024 | 2:55 pm

BNTX

MRNA

PFE

The FDA has advised manufacturers of authorized COVID-19 vaccines that vaccines for use beginning in Fall 2024 should be monovalent JN.1 vaccines.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 2:47 pm

ABBV

CVS

JNJ

UNH

AbbVie's arthritis drug Humira retains over 80% of its patients despite facing nine lower-priced biosimilar competitors. This raises concerns about the viability of the biosimilar market. Pharmacy benefit managers (PBMs) like CVS Health, Cigna, and UnitedHealth Group have influenced patient access, but few patients switched to biosimilars. AbbVie expects a 36% erosion in U.S. sales of Humira this year. The biosimilar industry advocates for regulatory changes, claiming $6 billion in potential savings have been lost. Johnson & Johnson's Crohn's disease drug Stelara may follow a similar trajectory.

Portfolio Pulse from Vandana Singh

June 07, 2024 | 2:39 pm

BCDA

BioCardia, Inc. (NASDAQ:BCDA) shares are experiencing increased volatility, initially spiking higher but then trading lower by 19.6% after the company announced it received a patent approval for its 'Radial and Transendocardial Delivery Catheter.' This patent enhances the protection and value of BioCardia's therapeutic programs and delivery systems.

Portfolio Pulse from Dylan Berman

June 07, 2024 | 2:35 pm

MRNA

Moderna has submitted an application to the FDA for the review of its Spikevax 2024-2025 formula, which targets the SARS-CoV-2 variant JN.1.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 2:33 pm

LLY

NVO

The rise of weight loss drugs like Wegovy and Mounjaro by Novo Nordisk (NYSE:NVO) is leading to new product developments across various sectors, including food, beverage, and fitness. Companies like DSM Firmenich, Nestle, and Danone are adapting to these changes. Novo Nordisk is also facing legal challenges related to counterfeit products and potential patent issues in China.

Portfolio Pulse from Benzinga Neuro

June 07, 2024 | 2:17 pm