Streetbeat News

Regulatory

USO

Economist Peter Schiff predicts a historic rise in oil prices, potentially reaching $300 per barrel, due to central bank excesses and continued production cuts by some OPEC+ members. This rise could fuel inflation and complicate central banks' efforts to balance slowing economies, high inflation, and the impact of rate hikes. However, ING's commodity analyst expects oil prices to return to slightly above $90 a barrel due to weaker demand and political pressure to increase supply. The United States Oil Fund, LP (NYSE:USO) ended Wednesday’s session up 2.50% at $82.90.

Portfolio Pulse from Shanthi Rexaline

September 28, 2023 | 5:56 am

BTCUSD

DOGEUSD

ETHUSD

Major cryptocurrencies including Bitcoin, Ethereum, and Dogecoin saw an uptick following a statement from the U.S. Securities and Exchange Commission Chair Gary Gensler. Gensler reiterated that Bitcoin is not a security and expressed concerns about how cryptocurrency companies handle customer funds. Analysts predict that Bitcoin will soar and surpass crucial levels if it reaches $26,500, and an up-season will resume once Bitcoin drops down to $20,000.

Portfolio Pulse from Mehab Qureshi

September 28, 2023 | 2:56 am

ACRHF

AYRWF

CURLF

The Senate Banking Committee has approved the Secure and Fair Enforcement Regulation (SAFER) Banking Act, a significant development for the cannabis industry. The Act has been praised by industry leaders, including Boris Jordan, founder and chairman of Curaleaf Holdings, Inc., and Sean M. O’Brien, Teamsters General President. The Act is expected to improve working conditions and ease operational burdens for employers across the country. It is also seen as a key step forward for the cannabis industry, with the industry poised to reach $34 billion by the end of this year.

Portfolio Pulse from Joana Scopel

September 27, 2023 | 11:40 pm

HOOD

Kraken, a major player in the European crypto markets, has announced plans to offer trading in U.S.-listed stocks and ETFs starting in 2024. This marks the first time the company is stepping outside its usual crypto zone. The company is awaiting approvals for stock and ETF trading in the U.S. and U.K. markets. Kraken is set to compete with other players such as Robinhood Markets Inc (NASDAQ:HOOD) and Public.com, which already offer zero-commission services.

Portfolio Pulse from Khyathi Dalal

September 27, 2023 | 10:40 pm

CBSTF

MSOS

Jesse Channon, a representative of the Cannabis Company, has stated that he does not foresee much M&A activity in the cannabis sector until regulatory issues are resolved.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 9:56 pm

CBSTF

MSOS

During a Fireside Chat, Columbia Care discussed the numerous inefficiencies present in the supply chain. The discussion was part of the Cannabis Capital Conference hosted by Benzinga.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 9:44 pm

GS

Congressman Tom Emmer criticized SEC Chair Gary Gensler's approach to regulation, suggesting it is biased in favor of large financial institutions and detrimental to innovation. Emmer questioned Gensler's impartiality due to his 18-year career at Goldman Sachs. Gensler defended his position, asserting his commitment to protecting American investors in a field 'rife with fraud and manipulation.'

Portfolio Pulse from Murtuza Merchant

September 27, 2023 | 9:11 pm

CGC

SNDL

VFF

The Senate Banking Committee approved the Secure and Fair Enforcement Regulation (SAFER) Banking Act, which would allow cannabis businesses access to banks. This development was discussed at the Benzinga Cannabis Capital Conference. Representatives from Canopy Growth Corp (CGC), SNDL Inc (SNDL), and Village Farms International Inc (VFF) spoke about the challenges and opportunities in the cannabis industry, including regulatory hurdles and the potential for partnerships and specialization.

Portfolio Pulse from Adam Eckert

September 27, 2023 | 9:11 pm

CLEU

China Liberal Education Holdings Limited (CLEU) has received a notification from Nasdaq regarding a minimum bid price deficiency. The company's shares have been trading below the minimum $1.00 per share requirement for continued listing on the Nasdaq Capital Market.

Portfolio Pulse from Benzinga Newsdesk

September 27, 2023 | 9:10 pm

TCNNF

The cannabis industry is expected to grow significantly due to the clearance of the SAFER Banking Act by the Senate’s Banking Committee. Trulieve's CEO, Kim Rivers, highlighted the importance of this development at the Cannabis Capital Conference. She also mentioned the potential benefits of the shift from Schedule I to III for cannabis under the federal Controlled Substances Act. Rivers sees a massive opportunity in Florida, anticipating a $6 billion market opportunity with its potential shift from medical to adult use.

Portfolio Pulse from Lara Goldstein

September 27, 2023 | 8:53 pm