Streetbeat News

Regulatory

TSLA

Elon Musk, CEO of Tesla Inc. (NASDAQ:TSLA) and SpaceX, discussed various topics at MI Global, including immigration, Starlink's impact on GDP, Mars colonization, the absence of AI in space exploration, and personal insights on joy and concerns. The conversation, held with Mike Milken of the Milken Institute, was live-streamed on X (formerly Twitter). Musk emphasized the importance of secure but expedited legal immigration, Starlink's potential to enhance global productivity, the goal of making life multi-planetary to safeguard civilization, and shared personal reflections on what brings him joy and keeps him up at night.

Portfolio Pulse from Ananya Gairola

May 07, 2024 | 1:51 am

NioCorp Developments Ltd. (NASDAQ:NB) has received a preliminary, non-binding indicative financing term sheet from the Export-Import Bank of the United States (EXIM) for $800 million in debt financing for the Elk Creek Critical Minerals Project. This step is part of the initial due diligence and loan application process with EXIM, and NioCorp's management is actively working with EXIM to advance the project further.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 9:17 pm

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YOLO

Cannabis stocks fell after reports emerged that the DEA Administrator Anne Milgram did not sign the order to reclassify cannabis as a Schedule III drug, contrary to expectations. This decision has halted the momentum of the Biden Administration's plan to acknowledge cannabis's medical benefits and its lower potential for abuse compared to Schedule I substances.

Portfolio Pulse from Adam Eckert

May 06, 2024 | 9:09 pm

NOW

ServiceNow has filed for a mixed securities shelf offering, according to an SEC filing. The size of the offering has not been disclosed.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:57 pm

ELWS

Earlyworks Co., Ltd. (NASDAQ:ELWS), a Japanese company specializing in blockchain technology, has received a delisting determination from Nasdaq due to non-compliance with the minimum bid price requirement. The company failed to meet the $1.00 per share minimum bid price and the $5,000,000 minimum stockholders' equity for continued listing. Earlyworks plans to appeal the determination and is considering options, including a reverse stock split, to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:39 pm

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Cryptocurrency markets saw a downturn despite strong ETF inflows on Friday, with major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin trading lower. The market experienced significant liquidations and a drop in exchange outflows. Noteworthy developments include Bitcoin reaching one billion transactions and regulatory attention from the SEC towards Robinhood's crypto business. Analyst Max Keiser highlighted Bitcoin's role in the U.S. economy's challenges.

Portfolio Pulse from Khyathi Dalal

May 06, 2024 | 8:32 pm

CGC

Canopy Growth has received a default letter according to an SEC filing, indicating potential financial or operational issues within the company.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 8:27 pm

PYPL

A study by Visa and Allium Labs found that only 10% of stablecoin transaction volumes in April were from 'organic payments activity', challenging the perception of stablecoins' acceptance as a payment method. Despite the push from fintech companies like PayPal and Stripe, the study suggests stablecoins are not yet widely used for genuine transactions. Visa, processing over $12 trillion in transactions last year, could be impacted if stablecoins gain acceptance, but stablecoin circulation is predicted to reach $2.8 trillion by 2028.

Portfolio Pulse from Khyathi Dalal

May 06, 2024 | 8:16 pm

Boeing Company (NYSE:BA) shares dropped after the FAA launched a new investigation into the company's 787 Dreamliner inspections, focusing on electrical safeguards and potential falsification of aircraft records by employees.

Portfolio Pulse from Erica Kollmann

May 06, 2024 | 7:59 pm

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Kevin Sabet, a Newsweek reporter, claims based on sources inside and outside the DEA that Administrator Anne Milgram did not sign the rescheduling order for cannabis, deviating from over 50 years of precedent. This could significantly impact the regulatory landscape for cannabis.

Portfolio Pulse from Benzinga Newsdesk

May 06, 2024 | 7:53 pm