Streetbeat News

Regulatory

SONX

The New York Stock Exchange (NYSE) has announced that it will start delisting proceedings against Sonendo, a company that may be trading under the ticker SONX. This action indicates that Sonendo has not met the NYSE's continued listing standards. The delisting of Sonendo could affect investor confidence and the ability of the company to raise capital in the future.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 9:24 pm

COIN

A cryptocurrency PAC named Fairshake, supported by Coinbase Global CEO Brian Armstrong, is spending on ads to back crypto-friendly candidates for the 2024 election. Armstrong pledged $1 million to the PAC, which aims to raise $50 million. The PAC has supported 13 candidates from both parties, focusing on those serving on committees that advance crypto legislation. The 2024 election could see record ad spending, with cryptocurrency potentially being a significant voter issue.

Portfolio Pulse from Chris Katje

November 21, 2023 | 9:24 pm

CLAY

Mobix Labs, Inc. and Chavant Capital Acquisition Corp. (NASDAQ:CLAY) have announced the SEC's effectiveness of the Registration Statement for their proposed business combination. The extraordinary general meeting for Chavant shareholders to approve the merger is scheduled for December 14, 2023. Post-merger, Mobix Labs expects to trade on Nasdaq under the ticker symbols 'MOBX' and 'MOBXW'.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 9:23 pm

CCBG

Capital City Bank Group has received a notice from Nasdaq regarding non-compliance with continued listing requirements due to a delay in filing its Form 10-Q. The company plans to file the required form as soon as possible to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 9:20 pm

BNBUSD

BTCUSD

ETHUSD

SPY

USO

U.S. Attorney General Merrick Garland announced that Binance facilitated almost $900M in transactions between the U.S. and Iran, which may have violated U.S. sanctions. Binance and its CEO have pleaded guilty to federal charges, resulting in a $4 billion resolution.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:45 pm

BNBUSD

BTCUSD

ETHUSD

Changpeng Zhao (CZ), the CEO of Binance, announced his resignation from the CEO position, taking responsibility for past mistakes. He expressed confidence in Binance's future under the new CEO, Richard Teng, who has extensive financial services and regulatory experience. CZ plans to take a break and then focus on passive investing in blockchain, AI, and biotech startups, while also considering mentoring entrepreneurs. He highlighted that U.S. agency resolutions do not accuse Binance of misappropriating funds or market manipulation.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 8:40 pm

INCY

Goldman Sachs downgraded Incyte Corp (NASDAQ:INCY) from Buy to Neutral, reducing the price target from $98 to $65 due to uncertainties around Jakafi's lifecycle management and competitive concerns. The FDA's complete response letter for once-daily Jakafi requires a modified formulation, potentially delaying approval until 2026/2027. Incyte is not seen as a likely M&A target because of Jakafi's small biotech drug exemption, which would not apply if acquired. Incyte is focusing on M&A and business development, with over $3.5 billion in cash reserves and no debt.

Portfolio Pulse from Vandana Singh

November 21, 2023 | 8:05 pm

WAVD

WaveDancer, Inc. shares are experiencing an uptick following the announcement that the company has regained compliance with NASDAQ listing requirements.

Portfolio Pulse from Benzinga Newsdesk

November 21, 2023 | 7:48 pm

NVDA

QQQ

SPY

UUP

The November FOMC minutes indicate the Fed may pause its rate hikes as inflation eases, with the current rate between 5.25% and 5.5% deemed restrictive. The Fed requires more data to ensure inflation is moving towards the 2% target. Markets had anticipated the rate hold, with little movement in Fed rate expectations post-minutes. The U.S. Dollar Index saw a brief uptick but then retracted, while the SPDR S&P 500 ETF Trust and Invesco QQQ Trust showed marginal declines. Investor focus is on NVIDIA's upcoming earnings report.

Portfolio Pulse from Piero Cingari

November 21, 2023 | 7:33 pm

CMND

Clearmind Medicine Inc. (CMND) announced a 1-for-30 reverse stock split effective Nov. 28, 2023, to address Nasdaq's delisting notice due to its failure to maintain the minimum bid price of $1.00 for thirty consecutive business days. The company's shareholders approved the reverse split, which will adjust common shares from 18,221,419 to 607,381. Clearmind plans to appeal the delisting determination to a hearings panel. As of Nov. 21, CMND's share price was around $0.12.

Portfolio Pulse from Lara Goldstein

November 21, 2023 | 7:25 pm