Streetbeat News

Regulatory

ABTS

Abits Group has been notified by NASDAQ about not meeting the minimum bid price requirement. The company, listed as ABTS, is now under scrutiny to meet NASDAQ's standards within a given timeframe to avoid delisting. This situation puts pressure on Abits Group to take corrective measures to increase its stock price above the minimum bid price requirement.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 8:31 pm

GPAK

Gamer Pakistan (GPAK) announced it could not file its Form 10-K by the April 15, 2024 deadline, citing significant resource allocation towards its completion. The company's board is reevaluating its business direction due to political and economic uncertainties in Pakistan, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 8:24 pm

BLUE

Bluebird Bio's shares experienced a spike following unconfirmed rumors that its therapy, Lyfgenia, is among 8 new therapies being considered for NTAP designations at the start of FY25. The focus on supporting access for SCD therapies by HHS strongly suggests that Lyfgenia will qualify.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 8:17 pm

VRNOF

Marijuana companies, led by Verano Holdings Corp., Canna Provisions, Wiseacre Farm, and Treevit CEO Gyasi Sellers, are challenging the DOJ's enforcement of cannabis prohibition, arguing it infringes on state rights. They request oral arguments in a Massachusetts federal court to address constitutional questions and the DOJ's stance that cannabis legalization promotes 'tourism' justifying federal prohibition. The case, supported by law firms Boies Schiller and Flexner LLP and Lesser, Newman, Aleo and Nasser LLP, highlights the conflict between state-legal cannabis activities and federal enforcement under the Controlled Substances Act.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 7:26 pm

LGVN

MRNS

NMRA

RARE

SNGX

SNPO

U.S. stocks declined, with the S&P 500 dropping over 1%. Health care shares slightly rose, while information technology shares fell by 1.8%. U.S. retail sales increased by 0.7% in March. Soligenix, Longeveron, and Snap One Holdings saw significant stock increases, while Marinus Pharmaceuticals, Neumora Therapeutics, and Ultragenyx Pharmaceutical experienced notable declines.

Portfolio Pulse from Avi Kapoor

April 15, 2024 | 6:30 pm

CSPCY

BenQ Hospital, operated by BenQ BM Holding Cayman Corp., has filed for an IPO in Hong Kong, aiming to become the first comprehensive private hospital listed there. With a revenue increase of 15% last year to 2.69 billion yuan, the company plans to use IPO funds for expansion and upgrades. Despite the growing healthcare market in China, BenQ faces challenges in expanding beyond its two main hospitals due to capacity constraints and lacks a major growth story, potentially limiting investor interest.

Portfolio Pulse from The Bamboo Works

April 15, 2024 | 6:03 pm

SNGX

Soligenix Inc (NASDAQ:SNGX) saw its stock price surge by 37.2% to $0.53 after receiving FDA orphan drug designation for MarVax, its vaccine candidate for Marburg Virus Disease. This designation offers seven years of market exclusivity upon FDA approval, along with financial and regulatory benefits such as government grants, FDA fee waivers, and tax credits. This follows a recent FDA orphan drug status granted to another of Soligenix's vaccines, SuVax, for Sudan ebolavirus.

Portfolio Pulse from Vandana Singh

April 15, 2024 | 5:55 pm

EIS

ISRA

SPY

USO

White House's Kirby clarified that Iran did not provide early warning to Israel regarding its intentions, which were aimed at causing significant destruction. Although messages were received from Iran, none included specifics on the timeframe, targets, or type of response. Kirby also noted that Israel is in a far stronger strategic position today.

Portfolio Pulse from Benzinga Newsdesk

April 15, 2024 | 5:46 pm

AVGO

HACK

TRFK

Broadcom Inc (NASDAQ:AVGO) is facing an EU antitrust investigation over VMware's licensing conditions, leading to a swift revision of pricing strategies. Complaints from EU businesses and trade groups about sudden policy changes and price hikes prompted the investigation. Broadcom responded by adjusting VMware's pricing, aiming to ease cloud and on-premise transitions. The EU has a history of fining tech giants for antitrust violations, with Broadcom, Amazon, Microsoft, and Adobe under scrutiny for various deals and practices. Broadcom's stock has seen significant growth, and exposure to it can be gained through ETFs like Pacer Data And Digital Revolution ETF (NYSE:TRFK) and Amplify Cybersecurity ETF (NYSE:HACK).

Portfolio Pulse from Anusuya Lahiri

April 15, 2024 | 5:38 pm

FCOM

META

XLC

Meta Platforms, Inc (NASDAQ:META) will suspend its Threads app in Turkey due to an interim order from the Turkish Competition Authority, aiming for future reinstatement. The decision follows a disagreement over data sharing between Threads and Instagram. Meta plans to appeal the order and maintain dialogue with the TCA. Additionally, Meta has adjusted its ad-free service fees in Europe in response to the Digital Markets Act, affecting its ad personalization capabilities. META stock has seen a 134% increase over the last 12 months, with exposure available through ETFs like XLC and FCOM.

Portfolio Pulse from Anusuya Lahiri

April 15, 2024 | 5:30 pm