Streetbeat News

Regulatory

MSOS

The Benzinga Cannabis Capital Conference announced the start of adult use of cannabis in Florida, known as 'Smart & Safe Florida'. The conference offers live access for existing subscribers and instant access for new users. MSOS, an ETF related to the cannabis industry, may be impacted by this news.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 5:03 pm

EIS

EWT

ISRA

SPY

VGK

The U.S. House Appropriations Committee announced the release of foreign aid supplemental bills, proposing $60.84 billion in aid for Ukraine, $26.38 billion for Israel, and $8.12 billion to support Taiwan and counter Chinese efforts in the Indo-Pacific region.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:50 pm

DASH

UBER

Shares of Uber and DoorDash are trading lower following reports that senators are requesting information on the companies' junk fees, indicating regulatory scrutiny that could impact their business operations.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:50 pm

DASH

UBER

Traders are closely monitoring Doordash and Uber Technologies as senators seek information on the companies' junk fees. This increased scrutiny could impact the companies' operational and financial practices.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:35 pm

VNDA

Vanda Pharmaceuticals Inc. (NASDAQ:VNDA) has rejected multiple unsolicited takeover bids from Future Pak LLC, with the latest offer ranging from $7.25 to $7.75 per share. This proposal represents a 79.0% to 91.4% premium over Vanda's closing price of $4.05 as of April 16, 2024. The Vanda Board believes these offers undervalue the company, citing its diverse product set, top-line growth, and recent FDA approval of Fanapt for bipolar I disorder, which boosted shares by 30%. Future Pak, a private contract manufacturer, has expressed willingness to improve its proposal, with support from Colbeck Capital Management. VNDA shares rose 33.8% to $5.41 following the news.

Portfolio Pulse from Vandana Singh

April 17, 2024 | 4:29 pm

ACB

FLGC

TLRY

Flora Growth Corp. (NASDAQ:FLGC) has announced the acquisition of Germany-based TruHC Pharma GmbH, aiming to expand its global footprint in the cannabis market. This move is strategic, following Germany's new cannabis law that partially legalizes cannabis. The acquisition, valued at $6.4 million, will be completed in two closings, with the first expected by the end of April 2024. Other companies like Aurora Cannabis, Tilray Brands, and Curaleaf Holdings are also exploring the German market, which is seen as a significant opportunity following legalization.

Portfolio Pulse from Jelena Martinovic

April 17, 2024 | 4:28 pm

MSOS

Duree Ross emphasizes the importance of preparing for various outcomes regarding cannabis legislation, highlighting the need to promote key marketing messages about cannabis in a positive light. The strategy will significantly differ based on whether the legislation passes or not. The article also mentions the Cannabis Capital Conference, offering access to both existing and new subscribers.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:20 pm

MSFT

Microsoft Corp.'s $13 billion investment in OpenAI Inc. will not face a formal European Union investigation. The European Commission concluded that the deal does not constitute a takeover and Microsoft does not control OpenAI, thus avoiding potential regulatory issues.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:18 pm

MSOS

Cory Azzalino highlights the profitability and potential of the Florida medical cannabis market, emphasizing the success of existing stores and the opportunity to scale production. The upcoming legislative session could make Florida the most exciting recreational cannabis market.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:16 pm

MSOS

Brady Cobb discusses the benefits of vertical markets in building cannabis brands, supports THC limits, and approves of Illinois-style daily purchase limits. He also expresses a positive view on Florida's process and the idea of rescheduling cannabis. The Cannabis Capital Conference offers live access for subscribers and new users.

Portfolio Pulse from Benzinga Newsdesk

April 17, 2024 | 4:14 pm