Streetbeat News

Regulatory

CURLF

Curaleaf Holdings, Inc. is reorganizing its U.S. operations and has received conditional approval to list its subordinate voting shares on the Toronto Stock Exchange (TSX). A third-party investor has purchased one share of Class A voting stock in Curaleaf USA for $1 million, giving them voting rights and the ability to appoint a director to the board. Curaleaf retains 99.9% economic ownership through Class B non-voting stock. This move allows Curaleaf to attract investors with deeper pockets, as U.S. federal illegality restricts them from listing on Nasdaq or NYSE. Curaleaf's shares (CURLF) were slightly up at the time of reporting.

Portfolio Pulse from Jelena Martinovic

December 11, 2023 | 8:18 pm

AVAXUSD

BTCUSD

ETHUSD

USDCUSD

XRPUSD

The crypto markets are experiencing a downturn with significant liquidations and a drop in the global crypto market cap. Bitcoin's dominance stands at 52.0%, and most cryptocurrencies are trading sideways or in the red, except for USDC and AVAX. The market is awaiting the FOMC's final meeting of 2023 and inflation data, with expectations that the Fed will maintain interest rates. Bitcoin has declined to $40,978, a 6.6% drop, with Ethereum and XRP seeing similar losses. The market is also looking forward to the Bitcoin halving event and the potential approval of a spot Bitcoin ETF.

Portfolio Pulse from Khyathi Dalal

December 11, 2023 | 7:55 pm

AAPL

META

MSFT

Meta Platforms, Inc's (NASDAQ:META) Instagram Threads is set to launch in the European Union on December 14, after its initial release in the U.S. and U.K. in July. A countdown timer on the Threads website indicates the launch, and users in Europe can find a digital invitation within the Instagram app. The launch details, including which EU countries will have access, are not yet confirmed. The delay in the EU launch is due to regulatory uncertainties, likely related to the EU's Digital Markets Act, which affects companies like Meta, Microsoft Corp (NASDAQ:MSFT), and Apple Inc (NASDAQ:AAPL). META shares dropped by 2.09% to $325.81.

Portfolio Pulse from Anusuya Lahiri

December 11, 2023 | 7:38 pm

NVO

Novo Nordisk A/S (NASDAQ:NVO) stock has gained over 40% YTD. A JAMA study noted weight regain after stopping Eli Lily's obesity drug, similar to Novo Nordisk's semaglutide. Novo Nordisk was named 2023 Company of the Year by Yahoo Finance. Bernie Sanders plans to hold a hearing on GLP-1 medications' costs, including Novo Nordisk's Ozempic. NVO shares are trading below the 50-day MA but near the 52-week high.

Portfolio Pulse from Erica Kollmann

December 11, 2023 | 7:19 pm

UAE

Billionaires like Ray Dalio and Changpeng Zhao (CZ) are investing in Abu Dhabi-based SPVs, attracted by low taxes and minimal regulatory scrutiny. The UAE's Abu Dhabi Global Market (ADGM) has seen a surge in SPVs, from 16 in 2016 to around 5,000. The iShares MSCI UAE ETF (NASDAQ:UAE) has increased 78% since early 2020, despite a downtrend since 2022. The UAE's favorable tax treaties and pro-crypto policies are key factors in attracting wealthy investors.

Portfolio Pulse from Neil Dennis

December 11, 2023 | 7:18 pm

NOVA

Traders are discussing a call hosted by JP Morgan with Sunnova Energy's CEO, where the CEO stated that most of the company's BBB complaints have been resolved and they expect the DoE loan guarantee to be upheld.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 7:10 pm

CGC

CRLBF

CURLF

FFNTF

TSNDF

The Benzinga Cannabis Capital Conference (CCC) in 2023 showcased visionaries who have shaped the cannabis industry. Leaders from companies like Phyto Partners, Poseidon Investment Management, Cookies, Grön, Timeless Refinery, Fernway, Advanced Vapor Services, Zuber Lawler LLP, Würk, PharmaCann, Custom Cones USA, 4Front Ventures, Oak Canna & Wellness, MATTIO Communications, Curaleaf Holdings, TerrAscend Corp, and Cresco Labs shared insights on innovation, market strategies, and regulatory challenges. The CCC will return to Florida in 2024, with tickets available at bzcannabis.com. Notable mentions include Martha Stewart's CBD gummy line with Canopy Growth Corp (CGC) and Alexa Alianiello's role in launching cannabis advertising on Twitter.

Portfolio Pulse from Abbey

December 11, 2023 | 6:57 pm

FXI

NVDA

SPY

U.S. Commerce Secretary Raimondo stated that Nvidia is allowed and expected to sell AI chips to China for commercial purposes. The Commerce Department is in talks with Nvidia regarding AI chip sales to China, emphasizing that Nvidia aims to act responsibly.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 6:53 pm

RDY

Dr. Reddy's shares are trading lower following the FDA's issuance of observations for the company's Telangana unit, which could imply potential regulatory challenges or required remediations that may affect the company's operations and financial performance.

Portfolio Pulse from Benzinga Newsdesk

December 11, 2023 | 6:48 pm

QQQ

SPY

TAN

TLT

UUP

The upcoming U.S. CPI data for November is highly anticipated as it may influence the Federal Reserve's interest rate decisions. October's CPI data led to significant market movements, with various ETFs experiencing notable changes in their stock prices. The SPDR S&P 500 ETF Trust (SPY), Invesco QQQ Trust (QQQ), and iShares 20+ Year Treasury Bond ETF (TLT) saw increases, while the Invesco DB USD Index Bullish Fund ETF (UUP) decreased. Sector-specific ETFs like Invesco Solar ETF (TAN), SPDR Regional Banking ETF (KRE), SPDR Real Estate Select Sector (XLRE), ARK Innovation ETF (ARKK), and VanEck Gold Miners ETF (GDX) also had significant movements.

Portfolio Pulse from Piero Cingari

December 11, 2023 | 6:48 pm