Streetbeat News

Regulatory

ARKK

BTCUSD

GBTC

Bitcoin (BTC) surged by 4.5% between Monday and Wednesday, marking its best performance since June. The Grayscale Bitcoin Trust (GBTC) won its legal battle against the SEC, allowing the conversion of GBTC into an ETF. This could pave the way for other companies like Bitwise, VanEck, Invesco, Fidelity, and Valkyrie to secure approval for their Bitcoin ETF applications. Cathie Wood, overseer of the ARK Innovation ETF (ARKK), predicts Bitcoin surpassing $1 million by 2030. The net-long positions in Bitcoin futures held by large speculators grew to 1,515 contracts during the week ending Aug. 22, the highest since April 2018.

Portfolio Pulse from Piero Cingari

August 30, 2023 | 9:43 pm

TSLA

Tesla Inc (NASDAQ:TSLA) is under investigation by the Department of Justice (DOJ) and the Securities and Exchange Commission (SEC) over a secretive initiative known as 'Project 42'. The investigations focus on the potential misuse of company funds for a glass house for CEO Elon Musk in Austin, Texas. The status of the project and whether the specialized glass, costing millions of dollars, was ever delivered is unknown. The DOJ and SEC investigations are in their preliminary stages, and no formal allegations have been sent.

Portfolio Pulse from AJ Fabino

August 30, 2023 | 9:16 pm

PRGO

The FDA has issued warning letters to three infant formula manufacturers - ByHeart Inc., Mead Johnson Nutrition (Reckitt), and Perrigo Wisconsin, LLC, following inspections over the last several months. The firms initiated recalls to remove potentially contaminated products from the market. However, the FDA does not advise parents and caregivers to discard or avoid purchasing any particular infant formula at this time.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:45 pm

SWSS

Clean Energy Special Situations (SWSS) has received a notice from Nasdaq regarding its late filing of Form 10-Q. The company is expected to address this issue promptly to avoid potential delisting.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:26 pm

ALLR

Allarity Therapeutics (NASDAQ:ALLR) announced the publication of its clinical validation of a novel drug-specific DRP®-companion diagnostic (CDx) for dovitinib in the peer-reviewed journal PLOS ONE. The DRP®-Dovitinib CDx was able to identify a subgroup of advanced renal cell carcinoma (RCC) patients that have improved clinical benefit from treatment with dovitinib. The DRP®-Dovitinib CDx is a complex transcriptomic signature comprising 58 mRNA biomarkers that are collectively predictive of tumor response to the drug. Dovitinib is currently being advanced by Allarity in an ongoing Phase 1b clinical study exploring the potential synergy of dovitinib and stenoparib for the treatment of advanced solid tumors, including ovarian cancer.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 8:13 pm

NVDA

The Biden administration has halted Nvidia Corp.'s microchip sales to the Middle East due to concerns about potential re-exports to China. The move is part of a broader focus on national security in the tech sphere and aims to curb China's AI ambitions. The chips in question, including the H100 and A100 chips, are crucial for training advanced AI systems. Despite this, Nvidia stated that the licensing requirement doesn't significantly impact their revenue.

Portfolio Pulse from Piero Cingari

August 30, 2023 | 8:13 pm

LIVN

LivaNova announced that its Essenz In-Line Blood Monitor has received U.S. FDA 510(K) clearance and CE Mark. This regulatory approval could potentially boost the company's product portfolio and market reach.

Portfolio Pulse from Benzinga Newsdesk

August 30, 2023 | 8:11 pm

BMRN

BioMarin Pharmaceutical Inc. (NASDAQ:BMRN) has announced that the first person in Europe has been treated commercially with its gene therapy, ROCTAVIAN, for severe hemophilia A. The treatment took place in Germany, with reimbursement discussions ongoing in France and Italy. In the U.S., ROCTAVIAN is now commercially available and hemophilia treatment centers have begun screening eligible individuals.

Portfolio Pulse from Happy Mohamed

August 30, 2023 | 8:11 pm

BTCUSD

GBTC

Following Grayscale's (OTC:GBTC) recent victory over the Securities and Exchange Commission (SEC), Bloomberg ETF experts, James Seyffart and Eric Balchunas, have increased their predictions for the approval of a spot Bitcoin (CRYPTO: BTC) ETF to 75% in 2023, and nearly guaranteed by the end of 2024. They believe the SEC has limited options to continue denying spot Bitcoin ETF applications after the Grayscale case.

Portfolio Pulse from Murtuza Merchant

August 30, 2023 | 7:54 pm

CGC

Shares of Canopy Growth Corp (NASDAQ:CGC) are trading higher by 12.6% amid strength in the broader cannabis sector. This follows a report suggesting the Department of Health and Human Services (HHS) has called for moving marijuana to a lower-risk drug category. The recommendation is informed by an FDA evaluation of marijuana's classification.

Portfolio Pulse from Henry Khederian

August 30, 2023 | 7:49 pm