Streetbeat News

Regulatory

BLK

A fraudulent filing for a 'BlackRock iShares XRP Trust' in Delaware caused a temporary 12% spike in XRP's price. BlackRock confirmed the filing was a hoax. The incident highlights the crypto market's sensitivity to news, especially regarding institutional acceptance. BlackRock's legitimate 'iShares Ethereum Trust' filing previously boosted Ethereum's price. The SEC is expected to decide on Bitcoin ETF applications, but no approvals have been confirmed yet. Ripple's optimism about XRP's use in international payments follows a court decision not classifying it as a security.

Portfolio Pulse from Mehab Qureshi

November 14, 2023 | 4:15 am

DWAC

Truth Social, the social media platform associated with former President Donald Trump, has reported a loss of $73 million since its launch in February 2022. The financial disclosure was filed by Digital World Acquisition Corp. (NASDAQ:DWAC), which is in merger talks with Trump Media & Technology Group (TMTG), the parent company of Truth Social. The platform lost $50 million in 2022 with $1.4 million in net sales and an additional $23 million in the first half of the current year. The report indicates that TMTG's survival is uncertain without the completion of the merger with DWAC and additional funding. TMTG's management is concerned about meeting liabilities and raising more funds.

Portfolio Pulse from Benzinga Neuro

November 14, 2023 | 3:54 am

BTCUSD

Crypto analyst DonAlt predicts Bitcoin could surge to $60,000 due to expectations of a spot-based Bitcoin ETF approval. He remains bullish, dismissing bearish sentiments and suggesting a higher likelihood of Bitcoin reaching $100,000 than falling to $12,000. BlackRock anticipates SEC approval for its Bitcoin ETF by January 2024, with decisions on twelve ETFs expected by November 17. Bloomberg analysts Seyffart and Balchunas see a 90% chance of approval by January 10, 2024.

Portfolio Pulse from Benzinga Neuro

November 14, 2023 | 3:50 am

BLK

BTCUSD

DOGEUSD

ETHUSD

XRPUSD

The cryptocurrency market experienced a downturn after a fake filing for an iShares XRP Trust by BlackRock Inc was revealed. Major cryptocurrencies like Bitcoin, Ethereum, and Dogecoin saw declines, with XRP initially surging 10% before the hoax was confirmed. BlackRock confirmed the filing was false, and the market reacted negatively. Analysts predict Bitcoin's next big target to be $50K, despite the current volatility.

Portfolio Pulse from Mehab Qureshi

November 14, 2023 | 2:41 am

SSY

SunLink Health Systems, Inc. (SSY) has agreed to sell Trace Regional Medical Center to Progressive Health Group, LLC for approximately $8M. The sale includes a hospital, skilled nursing facility, and three clinics. SunLink expects a pre-tax gain of $1.7M and will use the $7.5M proceeds for general corporate purposes. The sale is set to close on December 15, 2023, and will be reflected in the company's second fiscal quarter. Due to the sale, SunLink will delay its SEC filing of the 10-Q report for Q3 2023, using a Form 12b-25 to extend the deadline by five days.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 10:44 pm

DWAC

Digital World Acquisition Corp (DWAC) shares rose in after-hours trading following the announcement of Amendment No. 1 to its Form S-4 Registration Statement, which includes a preliminary proxy statement and prospectus for its proposed merger with Trump Media & Technology Group (TMTG), the entity behind Truth Social app. The filing is a significant step in the merger process, with both companies expressing optimism about the progress towards completing the business combination.

Portfolio Pulse from Adam Eckert

November 13, 2023 | 10:27 pm

DWAC

Digital World Acquisition Corp. (DWAC) and Trump Media & Technology Group have filed Amendment No. 1 to the Form S-4 Registration Statement. This filing includes a preliminary proxy statement and a prospectus regarding their proposed merger, moving one step closer to completing the combination.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:59 pm

JWEL

Jowell Global Ltd. has regained compliance with Nasdaq's minimum bid price rule. The company's stock had previously been at risk of being delisted due to its share price falling below the required minimum bid price of $1.00 for an extended period. However, Jowell Global's share price has now met the minimum bid price requirement, allowing it to maintain its listing on the Nasdaq stock exchange.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:45 pm

FSR

Fisker Inc. has identified material weaknesses in its internal control over financial reporting. This disclosure could impact investor confidence and raise concerns about the reliability of the company's financial statements.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 9:44 pm

EPOL

GOOG

GOOGL

Google announced that on November 28, 2023, it will update its Google Ads Gambling and Games policy for Poland. This update will likely affect how gambling-related ads are managed and displayed in the Polish market.

Portfolio Pulse from Benzinga Newsdesk

November 13, 2023 | 8:48 pm