Streetbeat News

Regulatory

TSLA

Elon Musk has criticized President Joe Biden and other 'naysayers' who wish to see Tesla fail. Despite the challenging economic environment and rising competition, Tesla continues to find success in China. The Biden administration's recent 100% tariffs on Chinese EV imports could impact the market dynamics. Tesla's shareholders are set to vote on reapproving Musk's 2018 compensation plan.

Portfolio Pulse from Shanthi Rexaline

May 19, 2024 | 7:55 pm

GTBIG

MSOS

TCNNF

TLRY

VFF

The Justice Department has initiated the process to reclassify marijuana from Schedule I to Schedule III, which could significantly impact the cannabis industry. This move is supported by a majority of American voters and could boost cannabis research. The U.S. cannabis ETF MSOS saw a mixed trading session following the news. Companies like Tilray, Village Farms, GTI, and Trulieve are preparing for potential changes in the market.

Portfolio Pulse from Todd Harrison

May 19, 2024 | 7:24 pm

AAL

ALK

CVX

DAL

HES

This week saw significant political and corporate news, including Chuck Schumer urging the FTC to reconsider the Chevron-Hess merger, and major airlines suing the Biden administration over new fee regulations.

Portfolio Pulse from Benzinga Neuro

May 19, 2024 | 11:00 am

ABBV

AMGN

CYBN

JAZZ

JNJ

MNMD

PFE

TEVA

The Biden administration is moving to reschedule cannabis from Schedule I to Schedule III under the Controlled Substances Act, which could revolutionize the cannabis industry. This change will allow marijuana businesses to deduct operational expenses, potentially increasing cash flow by up to 500% for major players. Key stocks to watch include Johnson & Johnson, MindMed, Cybin Inc., Pfizer, Amgen, Teva Pharmaceutical Industries, AbbVie, and Jazz Pharmaceuticals.

Portfolio Pulse from Nicolás Jose Rodriguez

May 18, 2024 | 2:19 pm

CGC

GME

META

TLRY

TSLA

Benzinga reviewed the prospects of popular stocks and cryptocurrencies, highlighting significant market movements and company-specific news. The Dow Jones Industrial Average closed above 40,000 for the first time, while the S&P 500 and Nasdaq also saw gains. Key stories included Tesla's new Model Y lease option, Shiba Inu's potential breakout, Biden's marijuana rescheduling impacting Canopy Growth and Tilray, and Citron Research's short position on GameStop.

Portfolio Pulse from Michael Cohen

May 18, 2024 | 12:45 pm

GBTC

IBIT

Anthony Scaramucci, founder of SkyBridge Capital, predicts more pension funds will invest in Bitcoin, following the State of Wisconsin's recent investment in BlackRock’s iShares Bitcoin Trust and Grayscale’s Bitcoin Trust. Scaramucci believes institutional adoption is underway due to recent regulatory approvals.

Portfolio Pulse from Benzinga Neuro

May 18, 2024 | 8:06 am

BA

Boeing's shareholders re-elected outgoing CEO Dave Calhoun to the board despite safety concerns and proxy adviser Glass Lewis's recommendation against it. Calhoun will retire by the end of the year. Boeing faces regulatory scrutiny following safety incidents and breaches of a 2021 settlement.

Portfolio Pulse from Anan Ashraf

May 18, 2024 | 5:16 am

OPGN

Trading for OpGen Inc. (OPGN) was halted at 7:50:00 p.m. ET due to pending news. Investors should stay tuned for further updates.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:50 pm

BSFC

Trading for BSFC was halted at 7:50:00 p.m. ET due to pending news. Investors should stay tuned for further updates.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:50 pm

GCTK

Trading for GCTK was halted at 7:50:00 p.m. ET due to pending news. Investors should stay tuned for further updates.

Portfolio Pulse from Benzinga Newsdesk

May 17, 2024 | 11:50 pm