Streetbeat News

Regulatory

ALK

Alaska Air has cancelled approximately 109 flights scheduled for Wednesday due to the grounding of the Boeing 737-9 MAX aircraft, as reported by Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 8:56 pm

CRON

Cronos Group Inc. (CRON) has begun expanding into the Australian market by shipping its first batch of cannabis flower to Vitura Health Limited, in which it owns approximately 10% of common shares. The Australian market for medical cannabis has seen significant growth, with patient approvals more than doubling in the first half of 2023 compared to the same period in 2022. A bill in New South Wales could further increase cannabis use by allowing cultivation for personal use. The article also mentions potential investment opportunities in cannabis stocks, highlighting gains in other cannabis companies.

Portfolio Pulse from Jelena Martinovic

January 09, 2024 | 8:52 pm

AGFY

MSOS

YOLO

Cannabis stocks have experienced a significant surge in early 2024, with the US cannabis MSOS ETF and the global YOLO ETF posting substantial gains. The uptick is attributed to the potential reclassification of cannabis by the DEA, following a recommendation from the Dept. of Health and Human Services. Companies like Jushi, The Cannabist, Cresco, and AYR have seen remarkable increases in their stock prices. Green Thumb Industries, Verano, and MariMed also enjoyed gains, albeit more modest. Agrify reported a notable improvement in financials, with a decrease in operating expenses contributing to a shift from a gross loss to a gain.

Portfolio Pulse from Nicolás Jose Rodriguez

January 09, 2024 | 8:49 pm

CCJ

DNN

UEC

URA

URG

UROY

UUUU

Uranium stocks are up following a request for proposals by the US Department of Energy for uranium enrichment services, aimed at establishing a domestic supply of high-assay low-enriched uranium fuels.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 8:28 pm

Boeing is updating its inspection plans for the 737 Max 9 aircraft in response to feedback and requirements from the FAA and airlines, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 8:23 pm

HOTH

Hoth Therapeutics has filed a patent application with the USPTO for a new therapeutic aimed at weight loss and mitigating side effects of existing obesity treatments. The patent covers the use of medications that may include an anticonvulsant, an opioid antagonist, GLP-1 receptor agonist, and/or NRI. Obesity, a significant health issue, often requires medication that can lead to adverse side effects, which Hoth's therapy aims to address.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 8:05 pm

BTCUSD

COIN

Coinbase Global, Inc. (NASDAQ:COIN) shares are trading lower on Tuesday but have risen 5% over the past month. Needham analyst John Todaro maintained a Buy rating and increased the price target from $160 to $180, adding Coinbase to the Conviction List for 2024. Coinbase's product growth, derivatives launch, and international expansion, particularly its approval as a VASP in France, were highlighted. This approval positions Coinbase for expansion across the EU once MiCA regulation is implemented. The potential approval of a spot Bitcoin ETF and the rally in Bitcoin prices have positively influenced Coinbase shares, which are up over 90% in the past six months.

Portfolio Pulse from Erica Kollmann

January 09, 2024 | 8:02 pm

BTCUSD

ETHUSD

Crypto trader Capo predicts a short-term rally in Bitcoin and Ethereum prices if a spot Bitcoin ETF is approved, followed by a 'massive correction.' Capo suggests that Bitcoin could reach $48,000-$50,000 and Ethereum could hit $2,500-$2,600 before he would start opening swing short positions. His bearish outlook is based on strong whale interest at these levels and the potential for news-driven volatility leading to temporary spikes and sharp drops.

Portfolio Pulse from Murtuza Merchant

January 09, 2024 | 7:46 pm

AEVA

Aeva Technologies Inc has filed a prospectus with the SEC, which pertains to the potential sale of 51.8 million shares of common stock by selling stockholders. The sales may occur from time to time, as per the filing.

Portfolio Pulse from Benzinga Newsdesk

January 09, 2024 | 7:45 pm

BTCUSD

Bitwise CIO Matt Hougan expressed optimism about the anticipated approval of spot Bitcoin ETFs, which he believes will bring Bitcoin into the mainstream investment world. Hougan suggested that the ETFs could launch as early as Thursday, and emphasized the benefits of fee reductions for investors. He acknowledged the risks highlighted by SEC Chair Gary Gensler but noted that ETFs could offer a safer investment option. Hougan also sees Bitcoin as a potential global reserve asset and expects a surge of institutional investors post-ETF approval.

Portfolio Pulse from Murtuza Merchant

January 09, 2024 | 6:57 pm