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Regulatory

CNEY

CN Energy Group, Inc. (CNEY) received a delisting notification from Nasdaq due to non-compliance with the minimum bid price requirement. The company's stock had a closing bid price of $0.10 or less for ten consecutive days. CNEY has requested a hearing to appeal the delisting, which will stay the suspension and Form 25-NSE filing pending the Panel's decision. There is no assurance of a successful outcome for the appeal.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 10:03 pm

AAPL

AMZN

ASTS

T

TMUS

TSLA

VOD

VZ

SpaceX, led by Elon Musk, has launched its first set of direct-to-cell Starlink satellites, partnering with T-Mobile US to potentially enter the telecommunications market. The technology aims to provide mobile phone connectivity anywhere on Earth, especially in areas with limited connectivity. SpaceX plans to offer text messaging this year and voice and data services by 2025, pending further FCC approvals. The move could increase SpaceX's customer base and compete with similar initiatives by Apple, Amazon's Project Kuiper, and AST SpaceMobile.

Portfolio Pulse from Chris Katje

January 05, 2024 | 10:01 pm

AAPL

Apple Inc (AAPL) is reportedly on the verge of facing a federal antitrust lawsuit from the U.S. Department of Justice (DOJ). The DOJ's investigation focuses on Apple's business practices, including the compatibility of the Apple Watch with the iPhone, the exclusivity of iMessage, the Apple Pay system, and restrictions on cloud gaming apps in the App Store. The DOJ has consulted with companies like Tile and Beeper, as well as financial service providers, about Apple's restrictive practices. This comes amid global regulatory scrutiny, with the European Digital Markets Act requiring open access to competing app stores on Apple devices. Apple's stock was down 0.40% at market close on Friday.

Portfolio Pulse from Erica Kollmann

January 05, 2024 | 9:48 pm

LFLY

Leafly Holdings received a letter from Nasdaq on January 3 stating that the company is not in compliance with the Audit Committee Rule. Leafly is currently evaluating options to regain compliance before the cure period expires, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:43 pm

RBT

Rubicon Technologies Inc has filed with the SEC for a shelf registration allowing selling stockholders to sell up to 7.4 million shares of Class A common stock. This does not represent new financing, but rather provides the opportunity for existing shareholders to sell their shares over time.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:34 pm

BLK

BTCUSD

Bitcoin influencers are discussing the potential approval of a spot Bitcoin ETF with mixed opinions on its short-term impact but general optimism for the long-term. Raoul Pal and others emphasize the importance of a long-term perspective. Eleanor Terrett notes expected amendments and comments on filings. Matt Hougan highlights the growing knowledge about ETFs. Matthew Sigel from VanEck mentions BlackRock's readiness for inflows, and Bloomberg's Eric Balchunas anticipates multiple ETF approvals. Adam Cochran suggests the impact may be underestimated in the long term.

Portfolio Pulse from Khyathi Dalal

January 05, 2024 | 9:33 pm

LGND

Ligand Pharmaceuticals Incorporated (NASDAQ:LGND) announced FDA approval for ZELSUVMI, a topical gel for treating molluscum contagiosum in adults and children over one year old. ZELSUVMI is the first novel drug approved for molluscum infections.

Portfolio Pulse from Charles Gross

January 05, 2024 | 9:32 pm

TCNNF

Florida State Rep. Ralph Massullo proposed a bill to cap THC levels in cannabis products, potentially affecting the cannabis legalization initiative funded by Trulieve Cannabis Corp. (TCNNF). The bill limits THC to 10% in smokable products and 60% in other forms, except edibles, which would have a 200mg cap per product and 10mg per serving. The legalization amendment, supported by Smart & Safe Florida and funded by Trulieve, aims to allow non-medical use of marijuana for adults over 21. Attorney General Ashley Moody opposes the initiative, citing its failure to acknowledge federal illegality. The state's highest court will decide by April 1 if the amendment can be voted on, requiring a 60% majority to pass. Over one million Florida voters have signed petitions supporting the amendment.

Portfolio Pulse from Maureen Meehan

January 05, 2024 | 9:30 pm

BTCUSD

Bitcoin ETF issuers have cleared a significant regulatory hurdle on their path to obtaining approval from the U.S. Securities and Exchange Commission (SEC). This development is a positive step for the cryptocurrency industry, as it moves closer to mainstream financial markets. The SEC's approval is crucial for the launch of Bitcoin ETFs, which would allow investors to gain exposure to Bitcoin without owning the actual cryptocurrency.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:25 pm

INVZ

The SEC filing indicates that a change in strategy is expected to have a minimal financial impact in the near term.

Portfolio Pulse from Benzinga Newsdesk

January 05, 2024 | 9:23 pm