Streetbeat News

Regulatory

JZXN

Jiuzi Holdings Inc. (JZXN) received a Nasdaq notification for not meeting the minimum bid price requirement as its shares traded below $1.00 for 30 consecutive days. The company has until May 6, 2024, to regain compliance, which can be achieved if its share price closes at $1.00 or higher for 10 consecutive business days. If JZXN fails to comply within 180 days, it may get an additional 180 days to meet the requirements, potentially through a reverse stock split.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 4:31 pm

BTCW

WisdomTree has amended its spot Bitcoin ETF prospectus, indicating ongoing plans to launch an ETF with ticker BTCW, and Coinbase Custody Trust as custodian. Other firms like VanEck have also filed amended applications, while Franklin Templeton and Global X await approval deadlines. Bloomberg analysts expect further SEC delays but maintain a 90% likelihood of a spot Bitcoin ETF approval by January 2024.

Portfolio Pulse from Khyathi Dalal

November 17, 2023 | 4:29 pm

SGD

Safe & Green Development Corp (NASDAQ:SGD) stock surged 84% to $5.59 after announcing it will not proceed with a previously contemplated common stock offering. The company requested the SEC to withdraw its Registration Statement and confirmed that no shares have been or will be sold under this statement. The decision was due to changed circumstances since the initial filing. The stock experienced multiple trading halts during Thursday's and Friday's sessions.

Portfolio Pulse from Henry Khederian

November 17, 2023 | 4:27 pm

FXI

SPY

U.S. Commerce Secretary Gina Raimondo emphasized the non-negotiable nature of protecting national security during a meeting with her Chinese counterpart on Thursday, according to a statement from the Commerce Department.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 4:25 pm

Mastercard Incorporated's (NYSE:MA) blockchain and digital assets lead for Asia-Pacific, Ashok Venkateswaran, expressed skepticism about the current need for widespread use of central bank digital currencies (CBDCs), citing adoption challenges and the comfort of consumers with existing forms of money. While the IMF sees CBDCs as a safe and low-cost alternative to cash, and many countries are exploring or adopting them, Venkateswaran suggests they may be more justified in countries with less robust domestic payment networks. Mastercard's stock (MA) was trading down by 0.53% at the time of the report.

Portfolio Pulse from Nabaparna Bhattacharya

November 17, 2023 | 4:07 pm

BTCUSD

IAT

At Benzinga’s Future of Digital Assets event, Mina Khattak of Worldpay emphasized the role of traditional banks in crypto adoption, highlighting the need for KYC and AML protocols. Panelists discussed the potential of retail banks to facilitate crypto trading and mass adoption. The industry faces challenges in rebuilding trust after numerous frauds and scams. Eric Parker of Giddy pointed out the importance of safe blockchain transactions and decentralized finance as an alternative in a high-inflation environment.

Portfolio Pulse from Neil Dennis

November 17, 2023 | 4:07 pm

SPY

UNG

USO

VGK

The Energy Ministry of Russia has announced the lifting of the remaining restrictions on gasoline exports. This move could potentially affect global energy markets and prices.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 4:04 pm

AAWH

ACRHF

CRLBF

CURLF

GTBIF

TCNNF

VRNOF

Senior analyst Pablo Zuanic from Zuanic & Associates has provided a valuation assessment of US Multi-State Operators (MSOs) in the cannabis sector, considering potential federal regulatory changes and state-level legalization trends. He uses a comprehensive methodology to calculate enterprise values (EV) for MSOs, including Acreage Holdings, Ascend Wellness, Curaleaf, Green Thumb Industries, Trulieve, Cresco Labs, and Verano. The analysis is based on factors such as share counts, net debt, and contingent liabilities. The US legal cannabis market is expected to grow significantly, from $18 million in CY20 to $40 million in CY27, indicating a positive outlook for MSOs.

Portfolio Pulse from Nicolás Jose Rodriguez

November 17, 2023 | 4:01 pm

TSLA

The White House has publicly condemned the promotion of antisemitism, referencing a social media post by Elon Musk. The post in question has drawn significant attention and criticism, prompting a response from the administration.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 3:56 pm

ShareSleuth has published an article highlighting concerns from early employees of EHang Holdings regarding a culture of corner-cutting and casual ethics within the company. These issues could potentially affect the company's future in passenger flights, raising questions about safety and regulatory compliance.

Portfolio Pulse from Benzinga Newsdesk

November 17, 2023 | 3:48 pm