Streetbeat News

Regulatory

GOOG

GOOGL

META

Meta Platforms Inc. has rejected a proposal by Canadian Prime Minister Justin Trudeau to pay news providers, amid an ongoing online news dispute. The proposed law would require Meta and Alphabet Inc. to pay a minimum of 4% of their annual revenue in Canada to carry links to news articles. In response, Meta has blocked Canadian users from viewing news stories on Facebook. The Canadian government has announced plans to halt government advertising spending on Facebook and Instagram, which could significantly impact Meta's revenue.

Portfolio Pulse from Benzinga Neuro

September 02, 2023 | 9:30 am

BTCUSD

TWTR

Hacker group Anonymous Sudan has targeted Elon Musk's X (formerly Twitter) to pressure Musk into introducing his Starlink satellite internet service in Sudan. The group took X offline in over a dozen countries for more than two hours, affecting thousands of users. The group has disrupted numerous organizations and government web services in several countries in the past. Anonymous Sudan has also been accused of being a Russian cyber-military unit, an allegation they deny.

Portfolio Pulse from Ananya Gairola

September 02, 2023 | 8:30 am

BTCUSD

Despite recent market volatility, Bitcoin whales, entities holding substantial quantities of digital assets, have increased their holdings by $1.5 billion during the last two weeks of August. This surge in accumulation coincided with a period when inflows into centralized exchanges remained unusually low. This behavior indicates organic buying demand within cryptocurrency. Furthermore, Bitcoin whales continued to increase their holdings following a significant victory for asset manager Grayscale, when a federal appeals court ordered the SEC to reconsider its denial of Grayscale’s request to convert the $14 billion Grayscale Bitcoin Trust into a spot Bitcoin ETF.

Portfolio Pulse from Ananya Gairola

September 02, 2023 | 7:06 am

Ford Motor Co (NYSE:F) has announced that it will spend an estimated $270 million to service several of its vehicles, following a recall of over 169,000 vehicles due to issues with their rearview cameras. The affected vehicles include certain 2020-2023 Explorer and Aviator vehicles, 2020-2022 Corsair vehicles, 2022-2023 Transit vans, 2018-2021 Navigator vehicles, and 2021 Bronco vehicles. The company will replace the rearview cameras and update software on affected vehicles at no cost to the customer.

Portfolio Pulse from Anan Ashraf

September 02, 2023 | 4:14 am

AAPL

GOOGL

Elon Musk is reportedly testing a feature on X (formerly Twitter) that would allow content creators to retain their audience if they choose to leave the platform. The feature would provide subscribers' email addresses to creators, facilitating direct communication. However, some users have complained about their subscription applications still pending, reportedly due to the need for approval by Apple Inc. and Alphabet Inc. app stores.

Portfolio Pulse from Ananya Gairola

September 02, 2023 | 2:54 am

KRNL

KRNLU

KRNLW

Kernel Group Holdings, Inc. (NASDAQ:KRNLU, KRNL, KRNLW) has regained compliance with Nasdaq Listing Rule 5620(a), which requires companies to hold an annual meeting of shareholders within twelve months of the end of the company's fiscal year. The company was previously non-compliant with this rule, but has since held its annual meeting of shareholders.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 8:50 pm

SEV

Sono Group N.V. (NASDAQ:SEV) has received a staff determination letter from Nasdaq stating that the company's bid price of its listed securities had closed at less than $1 per share over the previous 30 consecutive business days, violating Listing Rule 5450(a)(1). The company was given until September 18, 2023, to regain compliance. The letter also mentioned that the company's common stock has been below $0.10 for the past 12 consecutive trading days, and the resignation of four of five members of the company's supervisory board, both of which serve as additional bases for delisting the company's securities from Nasdaq. The company has requested a hearing to appeal the delisting determination.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 8:32 pm

DOCU

GBTC

GME

MSOS

The Federal Reserve is expected to hold steady on interest rates in September, according to 93% of investors. A federal appeals court has overturned the SEC's rejection of Grayscale Investments' application to convert its Grayscale Bitcoin Trust into a spot ETF, causing Bitcoin to surge. The Department of Health and Human Services has recommended that cannabis be reclassified from a Schedule I to a Schedule III drug, causing cannabis stocks to soar. In the coming week, earnings reports from C3.ai Inc, GameStop Corp, Docusign Inc, and Kroger Co will be closely watched.

Portfolio Pulse from Dustin Blitchok

September 01, 2023 | 8:10 pm

Guardant Health's Chief Medical Officer, Craig Eagle, has announced the closure of the COBRA study to new enrollees based on a recent planned interim analysis.

Portfolio Pulse from Happy Mohamed

September 01, 2023 | 7:51 pm

CGC

CRLBF

CURLF

GTBIF

MJUS

MSOS

TCNNF

TLRY

The Department of Health and Human Services (HHS) has suggested that the DEA reclassify cannabis as a Schedule III controlled substance, triggering a rally in cannabis stocks. Zuanic & Associates (Z&A), a leading cannabis equity research firm, has outlined potential scenarios for the future of the cannabis market. Stocks and ETFs such as AdviserShares Pure US Cannabis ETF (NYSE:MSOS), the ETFMG Alternative Harvest ETF (NYSE:MJUS), Canopy Growth Corporation (NASDAQ:CGC), Curaleaf Holdings, Inc. (OTC:CURLF), Tilray, Inc. (NASDAQ:TLRY), Cresco Labs, Inc. (OTC:CRLBF), Green Thumb Industries Inc. (OTC:GTBIF), and Trulieve Cannabis Corp. (OTC:TCNNF) surged following the news.

Portfolio Pulse from Nicolás Jose Rodriguez

September 01, 2023 | 7:49 pm