Streetbeat News

Regulatory

TSLA

Ford Motor Co (F) and General Motors Co (GM) will lose EV tax credits on certain vehicles from 2024 due to new U.S. treasury guidelines. GM's Cadillac Lyriq and Chevrolet Blazer EV will temporarily lose the $7,500 federal EV tax credit, while the Chevrolet Bolt EV remains eligible. Ford will lose tax credits for the E-Transit, Mustang Mach-E, and Lincoln Aviator Grand Touring plug-in hybrid. The F-150 Lightning and Lincoln Corsair Grand Touring will retain their credits. Tesla Inc's (TSLA) Model 3 variants will also not be eligible for tax credits starting next year.

Portfolio Pulse from Anan Ashraf

December 22, 2023 | 4:59 am

BTCUSD

El Salvador's Congress has passed a law allowing foreigners to gain expedited citizenship through Bitcoin donations for social and economic development projects. President Nayib Bukele, a Bitcoin advocate, labeled the bill a 'vital interest'. The law's details, including minimum donation requirements, are not specified. Additionally, El Salvador introduced the 'Adopting El Salvador Freedom Visa Program', targeting high-net-worth individuals with a $1 million investment in Bitcoin or Tether for a path to citizenship, aiming to bring $1 billion into the economy.

Portfolio Pulse from Mehab Qureshi

December 22, 2023 | 3:29 am

ALGOUSD

BONKUSD

BTCUSD

DOGEUSD

ETHUSD

NEARUSD

Cryptocurrencies surged after jobless claims data indicated a cooling economy. Bitcoin, Ethereum, and Dogecoin saw gains, with Bitcoin expected to reach $51K pre-ETF. U.S. GDP growth slowed to 4.9% in Q3. El Salvador passed a law for instant citizenship via Bitcoin donations. The global crypto market cap increased by 2.14%. U.S. stocks rebounded, with the Nasdaq and S&P 500 posting gains. Analysts predict a Bitcoin peak in January and a potential Ethereum rally to $3,500. Santiment warns of high Bitcoin supply in profit, suggesting caution, while highlighting $MATIC and $LTC as safer opportunities.

Portfolio Pulse from Mehab Qureshi

December 22, 2023 | 2:59 am

MARA

MULN

NKE

RIOT

TSLA

U.S. stocks were up with the Dow, S&P 500, and Nasdaq posting gains. Nike (NKE) fell in after-hours despite beating earnings due to revenue miss. Marathon Digital (MARA) surged on mining expansion and crypto optimism. Mullen Automotive (MULN) soared after vehicle delivery news and CARB certification. Riot Platforms (RIOT) increased modestly with Bitcoin's rise. Tesla (TSLA) rose despite potential safety issues in Norway.

Portfolio Pulse from Benzinga Neuro

December 22, 2023 | 2:05 am

AAPL

MISO

The International Trade Commission (ITC) has denied Apple Inc.'s request to delay a sales ban on certain Apple Watch models in the U.S. This follows an October ruling that the Apple Watch's blood oxygen sensor infringed on Masimo Corp's intellectual property. Apple's shares dipped slightly after the announcement of the sales pause but remained stable in after-hours trading. The sales suspension of the latest Apple Watch models could result in a loss of up to $400 million, according to Wedbush Securities analyst Dan Ives. Retailers like Walmart, Best Buy, and Target can continue selling the watches due to a legal loophole.

Portfolio Pulse from Ananya Gairola

December 22, 2023 | 12:42 am

TSLA

Elon Musk, a prominent supporter of Dogecoin, stated in an interview with Ark Funds CEO Cathie Wood that he doesn't spend much time thinking about cryptocurrency. Musk was asked about Bitcoin, which he discussed less than other topics. Cathie Wood emphasized the importance of rules-based cryptocurrencies like Bitcoin. Musk's comments are significant as Tesla Inc. previously added Bitcoin to its balance sheet, a move that validated the cryptocurrency. Musk also mentioned that X has obtained financial payment licenses in over half the states, with a goal to secure all states by mid-2024.

Portfolio Pulse from Chris Katje

December 22, 2023 | 12:34 am

DOGE-USD

PYPL

Elon Musk, in a conversation with Cathie Wood, indicated that his company X (formerly Twitter) could obtain the necessary state licenses for financial payments by mid-2024. Musk mentioned that X is awaiting final transmitter licenses, with approvals from New York and California being crucial. This development could position X as a super app and put it in competition with online payment companies like PayPal Holdings (NASDAQ:PYPL). Musk also noted that cryptocurrencies like Dogecoin (CRYPTO:DOGE) could be used for payments on X, although X will not offer its own coin.

Portfolio Pulse from Chris Katje

December 21, 2023 | 11:20 pm

PBTS

Powerbridge Technologies Co., Ltd. (PBTS) has requested a hearing with the Nasdaq Hearings Panel after receiving a notice of expected delisting due to non-compliance with the minimum bid price requirement. PBTS previously regained compliance but has since fallen below the $1.00 bid price threshold again. The company is seeking an extension to meet the Nasdaq's continued listing standards.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:34 pm

CGC

A study from Georgia College & State University and Kennesaw State University found that marijuana legalization correlates with improved college basketball recruiting but a decline in football recruiting. The study, published in the Journal of Sports Economics, used data from 2003 to 2019. It suggests that the NBA's lenient stance on marijuana may influence basketball recruits, while the NFL's stricter policy could deter football recruits. The study also notes the evolving policies of professional leagues, including the NBA's removal of marijuana from its banned substances list and the NFL's relaxed off-season testing. Canopy Growth Corp. (NASDAQ:CGC) is involved in research with the NHL Alumni Association on cannabinoids for post-concussion treatment.

Portfolio Pulse from Joana Scopel

December 21, 2023 | 9:30 pm

HASI

Hannon Armstrong Sustainable Infrastructure Capital, Inc. (HASI) plans to revoke its REIT status and become a C-Corporation effective January 1, 2024. The Board believes this will not materially impact business operations and will allow tax-efficient operation due to existing NOLs. The change is aimed at providing greater flexibility to capitalize on clean energy opportunities.

Portfolio Pulse from Benzinga Newsdesk

December 21, 2023 | 9:28 pm