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Viridian Capital Advisors highlighted five attractively priced cannabis stocks with solid credit rankings and potential for growth. The MSOS ETF saw a significant rise, attributed to DEA's consideration of rescheduling cannabis. Viridian is cautious about the timing of regulatory changes before the election. The selected stocks are Marimed (MRMD), Trulieve (TCNNF), Cresco (CRLBF), Verano (VRNOF), and Planet 13 (PLNH), chosen for their low EV/EBITDA multiples and resilience. Grown Rogue (GRIN), Glass House Brands (GLASF), and Curaleaf (CURLF) were considered overvalued, while Green Thumb (GTBIF) and TerrAscend (TSNDF) were excluded from the top picks.

Portfolio Pulse from Viridian Capital Advisors

January 08, 2024 | 4:57 pm

BTCUSD

SEC Chair Gary Gensler warned of risks in cryptocurrency investments, emphasizing potential fraud and regulatory non-compliance. His comments, ahead of decisions on Bitcoin ETF applications, sparked varied reactions from the crypto community on Twitter. Skepticism and humor were evident, with some users accusing Gensler of playing politics and others making light of the situation. The responses underscore the tension between regulators and the crypto world, reflecting mistrust and frustration with regulatory approaches.

Portfolio Pulse from Murtuza Merchant

January 08, 2024 | 4:53 pm

DADA

Dada Nexus shares dropped following an internal audit revealing suspicious practices and potential revenue overstatement. The company advised that its Q4 and 2023 guidance are no longer reliable.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 4:52 pm

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The Federal Aviation Administration (FAA) has approved the inspection criteria for Boeing's 737 Max 9 aircraft, a significant step for Boeing as it seeks to ensure the safety and reliability of its planes following previous groundings.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 4:48 pm

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Boeing shares fell 6.6% after an exit door blew out of a 737 aircraft, leading to the FAA grounding 171 jets. Other stocks also moved lower: Dada Nexus dropped 38.1% due to suspicious practices in revenue reporting; Solo Brands decreased 34.7% after cutting revenue guidance; Prothena fell 25.1% after program updates; Pacific Biosciences declined 15.1% with preliminary FY23 revenue announcement; and Spirit AeroSystems dropped 6.5% as it was involved with the faulty door on the Boeing aircraft.

Portfolio Pulse from Avi Kapoor

January 08, 2024 | 4:46 pm

BLK

A fee war has erupted among Bitcoin ETF applicants as they lower their fees in anticipation of SEC decisions. BlackRock initiated the trend with a 0.20% fee for the first year or until $5 billion in assets, followed by ARK21 and others. The fee reductions are seen as a strategy to attract the first wave of customers, with expectations of high demand. Some speculate that Bitcoin ETFs could challenge cryptocurrency exchanges by offering lower fees. BlackRock is rumored to have over $2 billion in potential inflows for the first week, which could make it one of the most successful ETF launches ever.

Portfolio Pulse from Khyathi Dalal

January 08, 2024 | 4:14 pm

BSGM

BioSig Technologies received a letter from Nasdaq on January 5th indicating that the company has regained compliance with Nasdaq Listing Rule 5550(b)(2), according to a recent SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 4:04 pm

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The White House has announced a bipartisan funding agreement that could help the U.S. avoid a government shutdown. This development is seen as a positive step towards maintaining government operations and avoiding the economic disruptions that a shutdown could cause.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:54 pm

BTCUSD

Gary Gensler, the chair of the SEC, has posted a thread on X discussing key considerations for potential investors in crypto assets. He likely provided insights into the risks and regulatory aspects associated with investing in cryptocurrencies.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:44 pm

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President Joe Biden is not considering the dismissal of Defense Secretary Lloyd Austin, despite Austin's failure to inform the White House about his emergency hospitalization. Senior administration officials have stated that Biden would not accept Austin's resignation if offered and emphasized Biden's loyalty and preference for continuity in his cabinet. The support for Austin remains strong even amid Republican calls for his firing, following his hospitalization at Walter Reed National Military Medical Center due to complications from an undisclosed surgery.

Portfolio Pulse from Benzinga Newsdesk

January 08, 2024 | 3:40 pm