Streetbeat News

Regulatory

MCOM

Shares of micromobility.com (MCOM) are trading lower following the announcement of a Nasdaq delisting notice. The company also postponed its special meeting of stockholders and withdrew its request for a reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:59 pm

INBS

Intelligent Bio Solutions' stock is up following the announcement that its Intelligent Fingerprinting Drug Screening Solution has received accreditation from the National Association of Testing Authorities.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:56 pm

SPY

VGK

Ukraine's President Zelenskiy expressed uncertainty about the end of the war, emphasizing the need for resilience to hasten its conclusion. He is confident in the continued financial support from the U.S. and Europe, highlighting Ukraine's special relationship with these regions.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:29 pm

SPY

VGK

Ukrainian President Zelenskiy has stated that the military requires an additional 450,000-500,000 personnel for mobilization. He expressed confidence in continued U.S. support for Ukraine.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 4:24 pm

MCOM

Micromobility.com Inc. (NASDAQ:MCOM) shares plummeted by 49.6% after receiving a notice from Nasdaq about an impending suspension due to failure to meet minimum bid price and equity requirements. The company postponed a shareholder meeting to reevaluate its strategy and is considering delisting in favor of trading on OTC markets to reduce compliance costs, despite potential negative effects on stock liquidity and price.

Portfolio Pulse from Henry Khederian

December 19, 2023 | 4:14 pm

NVO

Novo Nordisk A/S (NYSE:NVO) has collaborated with IndiaMART to remove unauthorized listings of its weight-loss drug Wegovy in India. IndiaMART took action after discussions with Novo Nordisk, who is the sole patent holder of semaglutide, the active ingredient in Wegovy and diabetes medication Ozempic. The company's legal team in India is working to establish a framework to notify and remove counterfeit listings to curb illegal sales. Despite the challenges in tracing illegal sellers, Novo Nordisk regularly monitors and engages with platforms to prevent unauthorized sales. IndiaMART has been listed on a U.S. government agency's 'Notorious Markets' list for 2022, indicating ongoing issues with counterfeit goods. NVO shares saw a 1.46% increase to $100.43.

Portfolio Pulse from Vandana Singh

December 19, 2023 | 3:53 pm

PBLA

Panbela Therapeutics Inc (NASDAQ:PBLA) stock surged 62% to $1.64 after announcing FDA approval of eflornithine, a drug they divested to US WorldMeds, for high-risk neuroblastoma patients. The approval marks the first for a polyamine targeted therapy in cancer, with Panbela potentially receiving up to $9.5 million based on milestones. The company's executives are optimistic about the drug's impact on neuroblastoma and other cancers. PBLA's 52-week range is $0.45 to $225.71.

Portfolio Pulse from Henry Khederian

December 19, 2023 | 3:40 pm

MCOM

micromobility.com Inc. (NASDAQ:MCOM) received a Nasdaq Delisting Notice due to non-compliance with minimum bid price and stockholders' equity requirements. The company postponed its Special Meeting and withdrew its reverse split request. It is considering whether to appeal the delisting decision, weighing the costs and benefits of Nasdaq listing against potential savings from delisting. MCOM plans to transfer its stock and warrants trading to the OTC markets under the same symbols, with the transition not affecting its business operations or SEC reporting obligations.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 3:40 pm

ETAO

ETAO International Co. Ltd. (NASDAQ:ETAO) stock plummeted 39% to $0.28 after receiving a Nasdaq delisting risk notice for not meeting the bid price requirement. The company plans to appeal and is working on a plan to comply with Nasdaq's listing rules. The stock has a 52-week range of $54.60 to $27.85.

Portfolio Pulse from Henry Khederian

December 19, 2023 | 2:44 pm

SPY

Fed's Barkin has indicated that significant insights about the economy will be gained in the first half of the next year, suggesting a period of close observation and data analysis by the Federal Reserve.

Portfolio Pulse from Benzinga Newsdesk

December 19, 2023 | 2:42 pm