Streetbeat News

Regulatory

BARK

BARK, Inc. received a notice from the NYSE for non-compliance with the Minimum Stock Price Standard, as its stock price averaged below $1.00 over 30 days. The company has six months to regain compliance, potentially through measures like a reverse stock split. The notice does not affect BARK's current NYSE listing or business operations.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 6:01 pm

ETHUSD

On Thursday, 7,005.47 Ether (ETH) valued at approximately $14.75 million was burned, permanently removing it from circulation. This is a result of the EIP-1159 upgrade implemented on August 5th, 2021, which introduced a variable base fee for transactions that is burned. The current issuance rate of new Ether is 4% per year, expected to drop to 0.5-1% with the Ethereum 2.0 upgrade, potentially making ETH a deflationary currency. The net annualized issuance rate for Ether was -7.57% yesterday, according to Glassnode.

Portfolio Pulse from Benzinga Insights

November 24, 2023 | 6:00 pm

MICS

Stingray Group has acquired 1.1 million shares of The Singing Machine Company's common stock through a private placement, as revealed in an amended 13D filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 5:46 pm

BNBUSD

BTCUSD

DOGEUSD

ETHUSD

SOLUSD

Bitcoin (BTC) surpassed the $38,000 mark, influenced by the potential approval of spot Bitcoin ETFs and Binance's settlement with the U.S. DoJ. Binance, under CEO Changpeng Zhao, agreed to pay $4.3 billion to resolve investigations, avoiding operational disruption and jail for Zhao. The ETF anticipation has increased Bitcoin transaction fees. Other cryptocurrencies like Ethereum (ETH), Dogecoin (DOGE), Binance Coin (BNB), Solana (SOL), and Shiba Inu (ADA) also saw gains.

Portfolio Pulse from Murtuza Merchant

November 24, 2023 | 5:38 pm

CLSK

COIN

MARA

Bitcoin (BTC) reached a new 52-week high of $38,392.79, driven by several catalysts including Argentina's election of a pro-cryptocurrency president, a DOJ settlement with Binance, and anticipation of BlackRock's spot Bitcoin ETF approval. Crypto-related stocks such as CleanSpark Inc. (CLSK), Coinbase Global Inc. (COIN), and Marathon Digital Holdings Inc. (MARA) moved higher alongside Bitcoin.

Portfolio Pulse from Erica Kollmann

November 24, 2023 | 5:17 pm

AMZN

IRBT

iRobot Corporation (NASDAQ:IRBT) stock is surging following a Reuters report that the European Commission is likely to approve Amazon's (NASDAQ:AMZN) $1.4 billion acquisition of iRobot without conditions. The UK antitrust agency has already unconditionally cleared the deal. iRobot's stock is experiencing heavy trading volume, with over 4.5 million shares traded compared to its 100-day average of less than 260 thousand. The stock has also been a target for short-sellers, with 15.07% of IRBT shares sold short. At the time of publication, iRobot shares have risen by 36% to $40.64.

Portfolio Pulse from Erica Kollmann

November 24, 2023 | 4:21 pm

PETV

PetVivo Holdings received a notice from Nasdaq on Nov 17 regarding delisting or failure to satisfy continued listing rules, as per an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 4:18 pm

EIS

SPY

USO

The Qatar Foreign Ministry has confirmed the release of 39 women and children who were detained in Israeli jails, according to a report by Reuters citing X Post.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 4:17 pm

USO

OPEC+ is nearing a resolution to the oil quota dispute that led to the postponement of a key meeting. The dispute arose from a June agreement that imposed lower quotas on African nations, specifically Angola and Nigeria. Adjustments to the 2024 targets for these countries are being discussed to address their concerns. The resolution of the dispute is critical as it has delayed the policy-setting meeting in Vienna, now rescheduled for November 30.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 4:10 pm

SEEL

Seelos Therapeutics, Inc. (NASDAQ:SEEL) has announced a 1-for-30 reverse stock split effective on November 28, 2023. The action aims to comply with Nasdaq's minimum bid price requirement for continued listing. Post-split, the number of authorized shares will decrease from 480 million to 16 million, and the number of outstanding shares will reduce from 167.7 million to approximately 5.6 million. The reverse split will also affect outstanding warrants, stock options, and equity incentive plans with adjusted exercise prices.

Portfolio Pulse from Benzinga Newsdesk

November 24, 2023 | 4:01 pm