Streetbeat News

Regulatory

CRLBF

MSOS

Cresco Labs CEO Charlie Bachtell discusses the potential progress of the SAFE Banking Act, highlighting bipartisan interest among senior legislators. He emphasizes the importance of educating potential voters and advocates in Washington, D.C. about the issue.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:36 pm

BAC

COST

This week's investment news highlights include Bank of America's system outage, Japan's monetary policy challenges, Costco's expansion into platinum sales, rising oil prices due to Middle East tensions, and strategies for handling stock losses. Bank of America faced a significant outage, causing customer panic, while Japan's decision to maintain low interest rates led to a yen decline. Costco is now selling platinum bars, reflecting increased demand for precious metals. Global tensions are driving oil prices up, complicating the Federal Reserve's recent rate cut. Investors are advised to consider diversification and strategic stock management.

Portfolio Pulse from Gary Brode

October 09, 2024 | 2:34 pm

CRLBF

MSOS

Cresco Labs CEO Charlie Bachtell expressed optimism about the Schedule 3 hearing, emphasizing the importance of a defensible and durable outcome. The hearing aims to ensure the recommendations from HHS and DEA are solid. Overall, there is optimism about the future.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:34 pm

ATNF

180 Life Sciences shares rose as the company regained compliance with Nasdaq's minimum stockholder equity rule.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:33 pm

CRLBF

MSOS

Cresco Labs CEO Charlie Bachtell discusses the challenges of scaling and maintaining high margins in the fast-moving cannabis industry. He highlights issues like accessing capital and the impact of taxation under 280e.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:29 pm

BABA

PDD

PDD Holdings Inc. (NASDAQ:PDD) has seen a significant stock surge due to China's economic stimulus measures, with a 56% rise in the last month. Despite regulatory challenges, PDD outperformed competitors like Alibaba and JD.com, showing strong revenue and profit growth. Technical indicators suggest a bullish trend, although the stock is currently below its eight-day SMA.

Portfolio Pulse from Surbhi Jain

October 09, 2024 | 2:26 pm

CRLBF

MSOS

Cresco Labs CEO Charlie Bachtell emphasized the company's focus on preparing for significant opportunities in 2024, particularly in states like Ohio, Florida, and Pennsylvania, which are moving towards adult-use cannabis legalization.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:22 pm

ACHC

A senator has called on the Department of Justice to investigate youth treatment centers following a probe that revealed widespread abuse. This could impact companies operating such centers, including Acadia Healthcare (ACHC), which may face increased scrutiny and potential legal challenges.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:19 pm

NIO

NIO Inc's stock has dropped 10% this week due to volatility in Chinese stocks, driven by disappointment over the lack of aggressive fiscal stimulus from Beijing. The Hang Seng Index's significant drop has raised concerns about consumer demand for electric vehicles in China, a key market for NIO.

Portfolio Pulse from Henry Khederian

October 09, 2024 | 2:17 pm

EWT

FXI

SPY

Taiwan's President is expected to address the complex situation Taiwan faces due to China's continued harassment and efforts to cause chaos. The President plans to follow the path of former President Tsai to maintain peace and stability across the Taiwan Strait.

Portfolio Pulse from Benzinga Newsdesk

October 09, 2024 | 2:02 pm