Streetbeat News

Regulatory

RUM

Culper Research has reported that Rumble (RUM) disclosed a significant reduction in the average number of hours of video uploaded to its platform daily. This information was revealed in an 8-K filing. Culper Research, which remains short on RUM, suggests that users, advertisers, and now creators are leaving the platform. Rumble's CEO, Chris Pavlovski, has been critical of Google, despite claiming Rumble's independence from 'Big Tech'.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 9:02 pm

MYMD

MyMD Pharmaceuticals has been granted Canadian Patent Number 3013634, which covers methods of increasing hair growth and improving hair appearance.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 8:59 pm

LI

TSLA

Li Auto Inc (NASDAQ:LI) shares dropped 4.7% amid concerns over China's market weakness and military research links to Baidu's AI. The EV sector also reacted to Tesla's price cuts in China, with Tesla reducing prices for its Model 3 and Model Y vehicles by up to 6% and 2.8%, respectively.

Portfolio Pulse from Henry Khederian

January 16, 2024 | 8:58 pm

INPX

Inpixon, a technology company, has been granted U.S. Patent #11872397 for a 'Proactive Loss Prevention System'. This patent covers a system designed to prevent loss of items through proactive measures, potentially enhancing Inpixon's intellectual property portfolio and offering new opportunities for product development and market differentiation.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 8:17 pm

TRX-USD

USDT-USD

A UN report highlights Tether's (USDT) role in a 'parallel banking system' used by organized crime, particularly in illegal gambling and 'pig butchering' romance scams in Southeast Asia. The report emphasizes the use of USDT on the Tron blockchain (TRX) for money laundering and other illicit activities. It calls for action from governments and financial institutions to align with human rights standards to prevent the conversion of illegal crypto to fiat currency.

Portfolio Pulse from Murtuza Merchant

January 16, 2024 | 8:01 pm

ALK

DAL

HA

UAL

Airlines stocks are down due to recent flight cancellations from severe weather and Boeing 737 Max 9 groundings. Additionally, a US judge blocked the Spirit-JetBlue merger, adding pressure to the sector.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 8:00 pm

VRTX

Vertex Pharmaceuticals has received FDA approval for CASGEVY, a treatment for transfusion-dependent beta thalassemia. This approval could potentially improve the company's product portfolio and market position in the treatment of this rare blood disorder.

Portfolio Pulse from Benzinga Newsdesk

January 16, 2024 | 7:25 pm

ADAUSD

Cardano's (ADA) anticipated stablecoin Mehen (USDM) launch has been delayed from January 16, 2024, to March 16, 2024, due to issues found in an audit by Sundae Labs. The delay aims to address security concerns and future-proof the smart contracts. Cardano's price has fallen 12.1% over the past month. K33 Research released a bearish report on Cardano, suggesting selling all ADA due to a lack of meaningful activity and stablecoin support, predicting ADA could become worthless if the situation doesn't improve.

Portfolio Pulse from Khyathi Dalal

January 16, 2024 | 7:25 pm

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) stock is trading higher after the U.S. government released documents indicating a review of cannabis status under federal law. The Department of Health and Human Services recommended rescheduling cannabis to Schedule III, acknowledging its medical use and lower potential for abuse compared to Schedules I and II. Additionally, Tilray received approval from Panama's Ministry of Health for medical cannabis operations. Shares are trading above the 50-day moving average but below the 52-week high.

Portfolio Pulse from Erica Kollmann

January 16, 2024 | 7:22 pm

BTI

PM

The WHO's latest tobacco trends report shows a global decline in tobacco use, with 1.25 billion adult users in 2022, down from 1 in 3 adults in 2000 to 1 in 5 today. Brazil and the Netherlands have made significant reductions following MPOWER measures. However, the rise of vaping among youth is causing regulatory concerns. The industry faces uncertainty as health organizations endorse vaping as a smoking alternative, but regulatory scrutiny increases. Major tobacco companies like Philip Morris International Inc (PM) and British American Tobacco Industries (BTI) are wary of potential regulations on new nicotine products.

Portfolio Pulse from Vandana Singh

January 16, 2024 | 7:21 pm