Streetbeat News

Regulatory

GAU

Galiano Gold announced receiving a No Objection Letter from the Ministry of Lands & Natural Resources of Ghana, indicating regulatory approval for its operations.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 11:50 am

FRGT

Fr8Tech announced it has regained compliance with Nasdaq's minimum bid price listing rule, indicating its stock price has met the required threshold.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 11:40 am

DOGEUSD

XRPUSD

Ripple CEO Brad Garlinghouse expressed openness to backing an XRP-focused ETF during a Bloomberg interview. He refrained from commenting on discussions with asset managers like BlackRock, following speculation about BlackRock's interest in an XRP ETF, which was later discredited. Garlinghouse criticized the SEC's approach under Gary Gensler and expressed skepticism about the utility of Dogecoin. XRP's price was reported to be down 3.60% at $0.54.

Portfolio Pulse from Mehab Qureshi

February 21, 2024 | 11:02 am

LQDA

UTHR

United Therapeutics has initiated legal action against the FDA for denying its right to delay Liquidia's final approval until its patent infringement claim against Liquidia is resolved. This move underscores a significant patent dispute between United Therapeutics and Liquidia, potentially impacting the market's view on both companies' stock.

Portfolio Pulse from Benzinga Newsdesk

February 21, 2024 | 10:59 am

RIVN

Rivian CEO RJ Scaringe has identified $48,000 as the target price for the upcoming R2 SUV, aiming to hit a 'sweet spot' in the EV market. The R2, smaller and cheaper than Rivian's R1S, is set to be unveiled in March 2023 and enter production in 2026. It's designed to compete with Tesla's Model Y and to be eligible for the $7,500 federal EV tax credit, unlike Rivian's R1 models which only qualify for a $3,750 credit. This pricing strategy positions the R2 in a competitive segment against Tesla's lower-end EVs.

Portfolio Pulse from Anan Ashraf

February 21, 2024 | 9:18 am

MTCH

Tinder, owned by Match Group (NASDAQ:MTCH), is enhancing its verification process in the U.S., U.K., Brazil, and Mexico to combat catfishing. The new process requires users to submit a video selfie and a photo ID to earn verification badges. This move is part of Tinder's efforts to improve user safety and trust, amidst the online dating industry's revenue surge and the rise in scams and fake accounts facilitated by AI.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 8:52 am

COF

DFS

The proposed merger between Capital One Financial Corp (COF) and Discover Financial Services (DFS) valued at $35.3 billion has faced criticism from Democratic lawmakers and consumer advocacy groups. They argue it could decrease competition and increase costs for customers. The merger, pending regulatory and shareholder approval, could make Capital One the sixth-largest bank and the largest credit card issuer in the U.S. Critics, including Senators Sherrod Brown and Elizabeth Warren, have called for regulators to block the deal, citing concerns over financial stability and consumer costs.

Portfolio Pulse from Benzinga Neuro

February 21, 2024 | 8:35 am

ETH-USD

Rep. Warren Davidson (R-Ohio) has expressed strong opposition to Central Bank Digital Currencies (CBDCs), labeling them as an existential threat to Western civilization. The House Financial Committee approved a bill to prohibit CBDCs, with Davidson emphasizing the need for a full House debate and subsequent adoption of the legislation. Additionally, an amendment has been proposed to prevent federal funds from being used to design, develop, or establish a CBDC. Former President Donald Trump also spoke against CBDCs, promising to never allow their creation.

Portfolio Pulse from Mehab Qureshi

February 21, 2024 | 7:44 am

TSLA

Local citizens near Tesla Inc's Berlin Gigafactory voted against the company's plans to cut trees for expansion, which aims to double the plant's capacity for battery and car production. This non-binding vote presents a significant challenge to Tesla's expansion goals. The decision now rests with local authorities. Tesla's Berlin factory currently has an annual vehicle capacity of 375,000 Model Y SUVs, with recent reports indicating a weekly production of 6,000 Model Y vehicles. In the European Union, Tesla saw a 89% year-on-year increase in new car registrations, totaling 279,042 in 2023.

Portfolio Pulse from Anan Ashraf

February 21, 2024 | 7:41 am

BTCUSD

ETHUSD

An early Ethereum investor moved 1,732 ETH to the Kraken exchange after an 8-year dormancy as Ethereum's price surpassed $3,000, a milestone not seen since May 2022. Ethereum's year-to-date gains stand at 31.2%, outperforming Bitcoin's 22.7%. The movement coincides with anticipation around a potential Ethereum ETF approval by the SEC and the upcoming Dencun upgrade featuring EIP 4844. Analysts and betting markets are assessing the likelihood of an ETH ETF approval, with estimates ranging from 45% to 70%.

Portfolio Pulse from Mehab Qureshi

February 21, 2024 | 5:42 am