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COIN

MARA

RIOT

Crypto-related stocks Coinbase Global Inc (COIN), Marathon Digital Holdings Inc (MARA), and Riot Platforms Inc (RIOT) are trading lower, following a recent crypto rally and Bitcoin's price pullback. The downturn comes despite anticipation of a potential spot Bitcoin ETF approval expected in early 2024 and the Federal Reserve's hint at possible rate cuts next year. Ark Invest's Cathie Wood sold a significant portion of her Coinbase position, with Coinbase shares down about 2% and up 400% YTD. Marathon Digital and Riot Blockchain also saw declines of about 5% and 1%, respectively, after recent surges in their stock prices.

Portfolio Pulse from Adam Eckert

December 28, 2023 | 1:53 pm

BABA

FXI

Alibaba Group Holding Limited (NYSE:BABA) stock is trading in line with the broader index IShares China Large-Cap ETF (NYSE:FXI) following reports of China's central bank's commitment to support the economy. However, a U.S. judge has denied Alibaba's request to dismiss a lawsuit over the sale of counterfeit Squishmallows on its platforms. Alibaba's stock has underperformed year-to-date compared to FXI, with a 17.3% loss versus FXI's 21% loss. BABA shares saw a premarket increase of 1.62%.

Portfolio Pulse from Anusuya Lahiri

December 28, 2023 | 1:50 pm

CING

LAES

MBOT

Cingulate (CING) received FDA guidance for its ADHD treatment, CTX-1301, and plans to submit an NDA in H1 2025. SEALSQ (LAES) revealed its post-quantum semiconductor technology to secure crypto transactions against quantum threats. Microbot Medical (MBOT) announced the successful completion of its GLP pivotal pre-clinical study under FDA guidelines using a porcine model.

Portfolio Pulse from ryanfaloona@benzinga.com

December 28, 2023 | 1:42 pm

SRFM

Surf Air Mobility Inc. (NYSE:SRFM) has entered into binding terms for a $35.2 million mandatory convertible debenture with GEM Global Yield LLC. The agreement includes the cancellation of certain previously issued shares, restrictions on sales and redemption rights, and an increase in capacity under a $400 million share subscription facility. The terms aim to reduce near-term overhang by canceling most of GEM's freely tradable shares in SRFM, impose a volume restriction on sales related to the debenture, and provide the company with the flexibility to redeem the debenture at 115% of par value to avoid dilution. GEM has agreed to refresh the company's ability to access up to $400 million under the Share Subscription Facility. The final terms are subject to further negotiation and will be detailed in definitive agreements.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 1:34 pm

NEO

NTRA

NeoGenomics Laboratories, a subsidiary of NeoGenomics, Inc., plans to appeal a preliminary injunction from the U.S. District Court for the Middle District of North Carolina. The injunction is based on an initial determination that products using Radar technology may infringe on a patent held by Natera, Inc. However, the court's order permits ongoing patient use, research projects, studies, and clinical trials involving Radar to continue.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 1:13 pm

SNCR

Synchronoss Technologies, Inc. has regained compliance with the Nasdaq's minimum bid price requirement, avoiding the risk of delisting. The company's stock (SNCR) maintained a minimum closing bid price of at least $1.00 per share for the last 10 consecutive business days.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 1:12 pm

MBOT

Microbot Medical announced the successful completion of its Good Laboratory Practice (GLP) pivotal pre-clinical study, adhering to FDA-required standards using a porcine model. This marks a significant milestone for the company's development process.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 12:36 pm

AAPL

Apple Inc. (AAPL) faced pressure from the Indian government to mitigate the political fallout from iPhone hacking alerts sent to Indian journalists and opposition politicians. The government questioned Apple's threat algorithms and launched a probe into the security of Apple devices. Apple stood firm, defending its evidence-based warnings and emphasizing user privacy protection. The standoff reflects broader global tensions between tech companies and governments over influence and security.

Portfolio Pulse from Rounak Jain

December 28, 2023 | 12:24 pm

FXI

SPY

VGK

China's central bank has announced its intention to continue increasing financial support to enterprises and key groups to stabilize and expand employment. Additionally, the bank aims to promote a stable and healthy development of the real estate market and is committed to maintaining the stability of the Yuan.

Portfolio Pulse from Charles Gross

December 28, 2023 | 12:09 pm

MDWD

MediWound has received an additional $6.7M in non-dilutive funding from the US Department of Defense to develop NexoBrid, a non-surgical solution for treating burns in field-care settings for the US Army.

Portfolio Pulse from Benzinga Newsdesk

December 28, 2023 | 12:04 pm