Streetbeat News

Regulatory

OPTHF

Optimi Health Corp. (OTCQX:OPTHF), a Canadian psychedelics pharmaceutical manufacturer, has entered into an agreement to supply natural psilocybin to New Zealand's Mātai Medical Research Institute for the Tū Wairua Project. This marks Optimi's first supply deal in New Zealand, contributing to its global expansion. The company will provide GMP Full Spectrum Natural Psilocybin extract for a pilot study aimed at evaluating psychedelic-assisted therapy for Māori patients. The study, set for mid-2024, will integrate Māori cultural practices and aims to inform future trials for methamphetamine use disorder among Māori patients.

Portfolio Pulse from Lara Goldstein

April 09, 2024 | 7:26 pm

BILI

Bilibili Inc – ADR (NASDAQ:BILI) shares increased by 6.32% to $11.78 amid broader strength in Chinese stocks, potentially influenced by U.S. Treasury Secretary Yellen's visit to China and upcoming inflation data. Yellen's discussions in China focused on economic relations and concerns over China's manufacturing overcapacity. Wall Street analysts generally rate BILI as a Buy, with expectations of varied performance in the coming year. Bilibili's stock has risen 5.71% in the past three months, with a slight revenue increase of 0.42% over the past year.

Portfolio Pulse from Henry Khederian

April 09, 2024 | 7:22 pm

NIO

TSLA

XPEV

Nio, Inc. (NIO) and XPeng, Inc. (XPEV) shares are trading higher amid strength in Chinese EV stocks, potentially influenced by U.S. Treasury Secretary Janet Yellen's visit to China and upcoming inflation data. Yellen's productive talks in China and anticipation for the Consumer Price Index data are key factors. Additionally, a report last week boosted Chinese EV stocks by claiming Tesla, Inc. (TSLA) had scrapped plans for a low-cost EV, though this was denied by Elon Musk. A forecast for NIO's stock in 2030 suggests a potential trade at $4.03, based on past performance and trend analysis.

Portfolio Pulse from Erica Kollmann

April 09, 2024 | 7:22 pm

VFF

Village Farms International, Inc. (NASDAQ:VFF) has regained compliance with NASDAQ's minimum bid price requirement, avoiding delisting by maintaining a closing bid price of $1.00 per share. This achievement comes after a 180-day extension granted by NASDAQ on October 18, 2023. Despite challenges in the cannabis sector, including market saturation and competition, VFF's resilience and strategic adjustments have positioned it for growth, as evidenced by its Q4 2023 performance.

Portfolio Pulse from Rolando García

April 09, 2024 | 7:17 pm

UBS

UBS Group AG is in talks to gain full control of its China platform by swapping its stake in Credit Suisse's onshore securities venture for the 33% stake held by Beijing State-Owned Assets Management Co. in UBS Securities Co. This move is part of a complex negotiation involving potential sales to Beijing government funds and faces regulatory challenges due to Chinese laws on foreign brokerage ownership. The deal aims to navigate the competitive landscape, with notable interest from Ant Group and Citadel Securities in Credit Suisse's China investment bank.

Portfolio Pulse from Vandana Singh

April 09, 2024 | 6:20 pm

AMZN

MSFT

TSM

Microsoft Corp (NASDAQ:MSFT) announced a $2.9 billion investment in Japanese data centers by 2025 to boost AI and cybersecurity, coinciding with Prime Minister Kishida's US visit. This move aligns with Tokyo's AI ambitions and positions Microsoft as a key cloud services provider, second to Amazon.Com Inc (NASDAQ:AMZN). Additionally, Taiwan Semiconductor Manufacturing Co (NYSE:TSM) plans to source 60% of materials locally for its Japanese chip facility by 2030, with significant Japanese government investment. AWS also commits $15.5 billion to Japanese operations from 2023 to 2027.

Portfolio Pulse from Anusuya Lahiri

April 09, 2024 | 6:07 pm

LLY

NVO

Shares of Lilly (LLY) and Novo Nordisk (NVO) are trading lower due to reports that the EMA will discuss a potential link between GLP-1 drugs and suicidal thoughts. The broader market is also down in anticipation of upcoming inflation data.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 5:35 pm

SPRC

SciSparc has been granted a Canadian patent (#2984088) for combinations of cannabinoids and N-acylethanolamines. This patent covers treatments for various conditions including movement disorders, body-weight gain, confusion, disorientation, anxiety, and the prevention of pain.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 5:18 pm

SPY

Senator Blumenthal is set to hold a hearing on April 17 with a Boeing whistleblower to discuss the company's safety culture, according to a spokesperson for Blumenthal, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

April 09, 2024 | 5:14 pm

BSGM

LASE

TLRY

VINC

Tilray Brands, Inc. (NASDAQ:TLRY) shares fell by 22% after missing Q3 estimates and revising its fiscal year 2024 outlook. Other stocks showed significant movement, with Laser Photonics Corporation (NASDAQ:LASE) and BioSig Technologies, Inc. (NASDAQ:BSGM) among the top gainers. Vincerx Pharma, Inc. (NASDAQ:VINC) led the losers after presenting preliminary Phase 1 data.

Portfolio Pulse from Avi Kapoor

April 09, 2024 | 5:12 pm