Streetbeat News

Regulatory

NLSP

NLS Pharmaceutics has received a letter from Nasdaq regarding non-compliance with continued listing requirements. The company must submit a plan to regain compliance and may face delisting if it fails to meet the requirements or if the plan is not accepted.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 9:33 pm

ETAO

ETAO International has received a Nasdaq Staff Determination letter indicating that the company is not in compliance with Nasdaq's listing requirements due to delinquency in filing required periodic financial reports.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 9:31 pm

MJ

MSOS

Twelve Democratic state attorneys general have urged the DEA to reclassify marijuana from Schedule I to Schedule III, citing public safety and economic benefits. The move could ease federal restrictions and allow legal cannabis businesses to access federal tax deductions. Cannabis stocks and ETFs surged on the news, with the AdvisorShares Pure US Cannabis ETF (MSOS) and the ETFMG Alternative Harvest ETF (MJ) experiencing significant gains.

Portfolio Pulse from Maureen Meehan

January 12, 2024 | 9:19 pm

DMAQ

TruGolf and Deep Medicine Acquisition Corp (DMAQ) have announced that the SEC has declared their Form S-4 effective. The business combination values TruGolf at an $80 million equity value and is expected to close by the end of January 2024, pending shareholder approvals and other closing conditions.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 9:13 pm

ICCM

IceCure Medical announced it has regained compliance with Nasdaq's minimum closing bid price requirement. The company's stock had maintained a closing bid price of at least $1.00 per share for a minimum of 10 consecutive business days, meeting Nasdaq's listing rule. This news indicates a positive development for IceCure Medical, as it avoids the risk of delisting from the Nasdaq exchange.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 9:05 pm

BURU

Nuburu, a company specializing in high-power blue lasers, has received a Notice of Allowance for its U.S. patent application 15/581,494, which is titled 'Visible Laser Additive Manufacturing'. This indicates that the United States Patent and Trademark Office (USPTO) intends to grant the patent once any remaining requirements are fulfilled. The patent pertains to the company's technology in the field of additive manufacturing, commonly known as 3D printing, using visible spectrum lasers.

Portfolio Pulse from Benzinga Newsdesk

January 12, 2024 | 9:01 pm

AAPL

The Indian government has blocked access to the Binance website and iOS app for users in India due to non-compliance with regulations. Binance confirmed the IP block but stated that existing users with the app pre-installed are not affected. The blockage follows a warning from India's Financial Intelligence Unit to several crypto exchanges for not adhering to anti-money laundering regulations. Other exchanges like Kucoin, OKX, Huobi, Gate.io, and Bitstamp are also affected. Apple has removed global cryptocurrency exchanges from its Indian app store.

Portfolio Pulse from Khyathi Dalal

January 12, 2024 | 8:32 pm

ALK

BA

Passengers on an Alaska Airlines flight operated by a Boeing 737 Max 9 filed a class action lawsuit against Boeing due to an emergency landing caused by a plug door blowing out. The incident resulted in physical and emotional trauma for passengers. Boeing's CEO Dave Calhoun acknowledged the defect, and the FAA has opened an investigation into Boeing's safety standards. Boeing shares dropped 2.3% on Friday, totaling a 12.5% loss since the incident. Spirit AeroSystems, a subcontractor, is also facing a separate lawsuit for quality failures.

Portfolio Pulse from Neil Dennis

January 12, 2024 | 8:24 pm

GBTC

The SEC's approval of 11 spot Bitcoin ETFs, including the Grayscale Spot Bitcoin ETF (GBTC), has provided traditional finance with direct Bitcoin exposure. Bitcoin, Ethereum, and Dogecoin experienced price movements following the approval, with Bitcoin nearing $50,000 before dropping 5%, Ethereum reaching a 20-month high before a 4.5% drop, and Dogecoin continuing a downtrend. The short-term price action for these cryptocurrencies is uncertain, with potential bullish and bearish scenarios outlined based on technical indicators.

Portfolio Pulse from Melanie Schaffer

January 12, 2024 | 7:56 pm

GTBIF

IWM

MSOS

QQQ

SPY

VRNOF

Virginia lawmakers have filed legislation to legalize marijuana sales, despite the governor's lack of interest. New Jersey is considering over a dozen cannabis policy bills, while Arizona's cannabis market shows stability. The U.S. cannabis ETF MSOS showed resilience despite market volatility, and there's anticipation for a DEA headline regarding marijuana rescheduling. Putnam Global Health Care Fund made notable stock moves in the cannabis sector, and Illinois reported an increase in adult-use cannabis sales. Analysts predict significant financial benefits if the 280E tax is removed for U.S. cannabis companies.

Portfolio Pulse from Todd Harrison

January 12, 2024 | 7:47 pm