Streetbeat News

Regulatory

ETHUSD

A total of 3,139 Ether (ETH) worth $4,990,797 was burned from Ethereum transactions on Wednesday. This follows the implementation of the EIP-1159 upgrade on the Ethereum blockchain, which changes the fee model and burns a base fee from each transaction. The burn rate of Ether is speculated to exceed the token's issuance once the Ethereum 2.0 upgrade is implemented, potentially making ETH a deflationary currency.

Portfolio Pulse from Benzinga Insights

September 21, 2023 | 6:00 pm

SPY

VGK

U.S. President Biden is set to announce new military aid and air defense for Ukraine, according to the White House. This could potentially impact the geopolitical landscape and indirectly affect the stock market.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 5:24 pm

RAI

STZ

TAP

Mississippi's Department of Health has announced major revisions to cannabis industry regulations, impacting the state's 370 licensed medical cannabis businesses. Studies in Maine and New York have raised concerns about potential contamination in the medical cannabis market. The Pennsylvania Senate has passed a bill to allow all licensed medical marijuana growers and processors in the state to directly sell their products to patients. The Coalition for Cannabis Policy, Education, and Regulation (CPEAR), supported by Altria, Reynolds American, Molson Coors, and Constellation Brands, has released a report suggesting policy recommendations to combat the illicit cannabis market in the U.S.

Portfolio Pulse from Nicolás Jose Rodriguez

September 21, 2023 | 5:16 pm

AAON

UPWK

Industrial stocks are trading lower due to overall market weakness following a rise in Treasury yields after the FOMC statement. The lower-than-expected weekly jobless claims data could encourage more rate hikes.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 5:15 pm

INNPF

Innocan Pharma Corporation (OTCQB:INNPF) has entered into an agreement with Research Capital Corporation for a private placement offering of units at $0.30 per unit, aiming to raise up to $3 million. The proceeds will be used for pre-investigational new drug meetings with the FDA, expansion of derma-cosmetic product distribution, and other purposes. The offering is expected to close around the week of October 10, 2023.

Portfolio Pulse from Jelena Martinovic

September 21, 2023 | 5:08 pm

HOOD

Shares of Robinhood Markets Inc (NASDAQ:HOOD) are trading lower by 3.1% amid concerns about future rate hikes following the FOMC statement and lower-than-expected initial jobless claims data. Higher interest rates can affect the profitability of financial companies like Robinhood and lead to higher borrowing costs, potentially reducing customer activity.

Portfolio Pulse from Henry Khederian

September 21, 2023 | 5:01 pm

ACLS

ADBE

AMD

BILL

DDOG

Tech stocks are trading lower due to overall market weakness following a rise in Treasury yields after the FOMC statement. The lower-than-expected weekly initial jobless claims data could potentially encourage more rate hikes.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 4:57 pm

GOOG

GOOGL

TikTok is testing a search partnership with Google, which could potentially boost traffic and ad revenue for both companies. The feature is being trialed globally across several different markets. The partnership comes as Google stands trial against the US Justice Department over allegations of maintaining its monopoly on search through distribution deals. TikTok has also recently enhanced its search function by including snippets of information from Wikipedia and IMDb.

Portfolio Pulse from Benzinga Newsdesk

September 21, 2023 | 4:35 pm

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VRNOF

The Alabama Medical Cannabis Commission's license allocation process is under scrutiny due to alleged ties with Russian oligarch, Andrey Blokh, who is the second-biggest shareholder at Curaleaf Holdings, Inc. and partially owns 3 Notch Roots LLC, a company awarded a license. Blokh is linked to Roman Abramovich, who has been secretly investing in cannabis companies and was sanctioned by the U.K., the EU, and the U.S. following Russia's invasion of Ukraine. Curaleaf and its chairman, Boris Jordan, were also targeted due to potential connections to Russia.

Portfolio Pulse from Jelena Martinovic

September 21, 2023 | 4:26 pm

BIOL

Biolase has received a notice of allowance for its U.S. patent application 17/392,807 titled 'Dual Wavelength Laser Treatment Device'. This indicates that the patent office has agreed that the invention is patentable.

Portfolio Pulse from Happy Mohamed

September 21, 2023 | 4:18 pm