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Regulatory

HOOD

Robinhood Markets Inc (NASDAQ:HOOD) has seen a significant stock price increase following its acquisition of cryptocurrency exchange Bitstamp Ltd. for $200 million. The deal, expected to close in the first half of 2025, expands Robinhood's market presence globally. Robinhood's stock has risen 151.86% over the past year and 80.30% year-to-date, with strong technical indicators suggesting continued bullish momentum. However, the company is also facing potential regulatory actions from the SEC.

Portfolio Pulse from Surbhi Jain

June 07, 2024 | 12:41 pm

CDXC

ChromaDex shares are trading higher after the company received exclusive FDA Orphan Drug Designation and Rare Pediatric Disease Designation for Nicotinamide Riboside Chloride in the treatment of Ataxia Telangiectasia.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:37 pm

SPY

The Federal Reserve swaps market no longer fully prices in a rate cut before December, indicating a shift in market expectations regarding monetary policy.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:36 pm

CDXC

ChromaDex has announced that the FDA has granted Orphan Drug and Rare Pediatric Disease designations for its product NRC in the treatment of Ataxia Telangiectasia (AT).

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:34 pm

AACG

ATA Creativity Global (AACG) has received a notification from Nasdaq regarding its non-compliance with the minimum bid price requirement. The company has been given a 180-day grace period to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:31 pm

DJT

Trump Media & Technology Group Corp. (NASDAQ:DJT) shares are trading slightly lower in the premarket session on Friday. The company has sent its fourth congressional letter addressing potential stock manipulation, citing persistent failures to deliver (FTDs) and possible illegal 'naked' short selling. Recent SEC data shows high FTDs for DJT, prompting the company to request Electronic Blue Sheet data from several financial firms.

Portfolio Pulse from Nabaparna Bhattacharya

June 07, 2024 | 12:22 pm

AAPL

Apple has disclosed that it will provide security updates for the iPhone 15 Pro Max for a minimum of five years, which is less than the seven years offered by Samsung and Google. This announcement comes amid scrutiny over Apple's App Store fees and practices.

Portfolio Pulse from Rounak Jain

June 07, 2024 | 12:19 pm

JNJ

Johnson & Johnson MedTech's DePuy Synthes has received FDA clearance for its VELYS Robotic-Assisted Solution, designed for use in unicompartmental knee arthroplasty (UKA) procedures. This clearance marks a significant milestone for the company in the orthopedic surgery market.

Portfolio Pulse from Benzinga Newsdesk

June 07, 2024 | 12:05 pm

AAPL

AMZN

GOOGL

META

MSFT

NVDA

The U.S. Justice Department and the Federal Trade Commission have finalized an agreement to investigate potential antitrust issues involving Microsoft, Nvidia, and OpenAI in the AI sector. This move highlights increased regulatory scrutiny on AI industry concentration. Nvidia and Microsoft are under specific investigation for their market dominance and partnerships.

Portfolio Pulse from Shivani Kumaresan

June 07, 2024 | 11:51 am

BTCUSD

ETHUSD

JPM

Analysts predict that the launch of Ethereum ETFs in the US will see lower demand compared to Bitcoin ETFs. JPMorgan strategists estimate Ethereum ETFs will attract $1-3 billion in net inflows by year-end, compared to $15.3 billion for Bitcoin ETFs. Despite lower demand, Ethereum ETFs offer long-term growth potential due to Ethereum's unique utility in the crypto ecosystem. Concerns about selling pressure from Grayscale's planned conversion of its $11 billion Ethereum fund into an ETF remain.

Portfolio Pulse from Murtuza Merchant

June 07, 2024 | 11:50 am