Streetbeat News

Regulatory

ACB

TLRY

Tilray Brands CEO Irwin Simon visited Israel to meet business partners and traveled to Germany in anticipation of cannabis legalization. Tilray (NASDAQ:TLRY) is well-positioned to benefit from potential German legalization, with its European headquarters in Germany. Aurora Cannabis (NASDAQ:ACB) is also among the companies likely to benefit. Despite a delay in the German legalization vote, Tilray shares rose 8.42% and an additional 0.24% after hours on Monday.

Portfolio Pulse from Nina Zdinjak

December 05, 2023 | 3:43 pm

ACRHF

CURLF

GTBIF

New York authorities seized over 11,000 pounds of illegal cannabis products worth $54 million from unlicensed stores. 350 locations have been raided this year. The Office of Cannabis Management aims to prioritize safety and promote legal dispensaries. Legal battles, including a lawsuit by veterans against the state's licensing process, have delayed the cannabis program. The injunction was lifted last week, allowing for license processing. New York has 27 licensed dispensaries, competing with 1200 illicit shops. Acreage Holdings, Curaleaf, and Green Thumb Industries are monitoring the situation closely.

Portfolio Pulse from Maureen Meehan

December 05, 2023 | 3:38 pm

CLSK

MARA

RIOT

Shares of Bitcoin miners Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK) are rising as Bitcoin's price climbs above $42,000. The increase is attributed to optimism about a potential spot Bitcoin ETF and expectations of rate cuts from the Federal Reserve in 2024. At the time of publication, MARA, RIOT, and CLSK stocks have seen significant gains.

Portfolio Pulse from Adam Eckert

December 05, 2023 | 3:31 pm

SOFO

Sonic Foundry Inc (NASDAQ:SOFO) stock plummeted by 57% to $0.16 after receiving a delisting notice from Nasdaq for failing to meet stock price and stockholders' equity requirements. Trading on Nasdaq will cease on December 5, with plans to move to the OTC Markets Group platform and apply for listing on the OTCQB Market or another OTC market. CEO Joe Mozden, Jr. is focusing on long-term growth through new ventures despite the setback. SOFO's 52-week trading range is between $54.60 and $27.85.

Portfolio Pulse from Henry Khederian

December 05, 2023 | 3:30 pm

BTCUSD

Taiwan's Financial Supervisory Commission (FSC) is taking a cautious approach to cryptocurrency ETFs due to the volatility of the crypto market. The FSC plans to research foreign cryptocurrency futures products and ETFs before easing regulations. The SEC's review of a Bitcoin spot ETF and Bitcoin's value surge have sparked interest in Taiwan for similar financial products. Internationally, exchanges like the Chicago Mercantile Exchange, Intercontinental Exchange, and others have listed various cryptocurrency futures and ETFs. Taiwan may consider 'cryptocurrency concept ETFs' focusing on related companies rather than direct cryptocurrency price linkage.

Portfolio Pulse from Murtuza Merchant

December 05, 2023 | 3:30 pm

EWU

TSLA

VGK

The European Union is reportedly planning to propose a three-year delay on tariffs for electric vehicle (EV) trade with the UK. This move could significantly impact the EV industry, providing manufacturers with more time to adjust to the post-Brexit trading environment and potentially benefiting companies that trade between the EU and UK.

Portfolio Pulse from Benzinga Newsdesk

December 05, 2023 | 3:17 pm

HON

Illinois Representative Jonathan Jackson reported selling Honeywell Intl (NASDAQ:HON) stock valued between $50,001 and $100,000 on December 4, 2023. Honeywell shares are slightly down by 0.3% at $197.77. Congressional transactions are monitored under the STOCK Act and are not primary indicators for investing decisions but can be considered by investors. The reason for Jackson's sale is not specified, and such sales can have various motivations.

Portfolio Pulse from Benzinga Insights

December 05, 2023 | 3:05 pm

MSFT

NVDA

Shanghai authorities have requested Microsoft Corp (NASDAQ:MSFT) to enhance AI technology use in local businesses. The city is also interested in collaborating with Microsoft on technology governance frameworks. Meanwhile, Nvidia Corp (NASDAQ:NVDA) is testing a less powerful chip, the HGX H20, in China due to a U.S. embargo, and plans to release a specialized AI chip for China by Q1 2024. MSFT shares saw a slight increase.

Portfolio Pulse from Anusuya Lahiri

December 05, 2023 | 3:02 pm

AAPL

BLK

EADSY

ERIC

F

GM

IBM

META

MMSI

MSFT

MSTR

NIO

TSLA

Cryptocurrencies Bitcoin, Ethereum, and Dogecoin experienced a spike due to 'panic buying' and a weak dollar. BlackRock received seed funding for a Bitcoin ETF, and MicroStrategy profited as Bitcoin rallied. In Brazil, legislation drafted by ChatGPT was passed unanimously. In the US, stocks like Merit Medical Systems moved lower in pre-market, while investor sentiment remained in the 'greed' zone. Tech companies like IBM, Meta, and Microsoft announced significant developments. Electric vehicle companies like Nio, Tesla, and Ford reported on sales and legal challenges. General Motors and Dave & Buster's faced business hurdles, while Ericsson secured a major deal. Airbus is close to its 2023 delivery target.

Portfolio Pulse from Akanksha Bakshi

December 05, 2023 | 2:21 pm