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Regulatory

FLHLF

Imperial College London's Centre for Psychedelic Research will begin a government-funded study in October to assess psilocybin-assisted therapy for gambling addiction. The University of Calgary will also launch a clinical trial in October to study the effects of psilocybin paired with Motivational Enhancement Therapy on heavy drinking in patients with Alcohol Use Disorder. In January 2024, a Phase 2 clinical trial will begin to assess the feasibility, safety, and preliminary efficacy of one psilocybin dose to alleviate opioid-refractory pain in advanced cancer patients. This trial will use Filament Health's (OTC:FLHLF) natural psilocybin and is funded by Cy Biopharma and Pancreatic Cancer North America.

Portfolio Pulse from Lara Goldstein

August 24, 2023 | 12:09 am

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Bitstamp, a cryptocurrency exchange, is ending its ether staking program for US clients due to regulatory scrutiny from the Securities and Exchange Commission (SEC). The SEC has been classifying staking services as investment contracts that need to be registered as securities. This follows similar actions by other exchanges such as Kraken and Coinbase Global Inc (NASDAQ:COIN), which have also halted staking services in the US.

Portfolio Pulse from Murtuza Merchant

August 23, 2023 | 11:22 pm

TWLO

Twilio (NYSE:TWLO), a major communications-service provider, is banning cannabis companies from using its software, citing violation of federal law. The company's policy prohibits marijuana, CBD, and accessory-products companies from using its SMS or MMS text messaging in the U.S. or Canada. This follows a similar move by Mastercard (NYSE:MA) in July, which banned marijuana transactions on its debit cards. There are concerns that Visa (NYSE:V) may also follow suit.

Portfolio Pulse from Maureen Meehan

August 23, 2023 | 10:13 pm

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EWY

SPY

North Korea announced it launched a space rocket in the early hours of Thursday, with an accident occurring during the second spy satellite launch, according to Reuters citing KCNA.

Portfolio Pulse from Charles Gross

August 23, 2023 | 9:18 pm

LYT

Lytus Technologies has received a notification from Nasdaq about its noncompliance with audit committee requirements. The company is expected to take necessary steps to regain compliance.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 9:14 pm

SMID

Smith-Midland Corporation (SMID) has received a letter from Nasdaq due to a delay in filing its Form 10-Q. The company has engaged a new audit firm, BDO, to address the issue.

Portfolio Pulse from Benzinga Newsdesk

August 23, 2023 | 9:13 pm

GNLN

Greenlane Holdings (GNLN) received a deficiency letter from Nasdaq stating that for the last 30 consecutive business days, the closing bid price for the company's Class A common stock had been below the minimum $1.00 per share.

Portfolio Pulse from Happy Mohamed

August 23, 2023 | 8:42 pm

GRAMF

The California attorney general's office is investigating the potential legal implications of interstate cannabis commerce in light of federal prohibition. Three organizations have assured that such commerce would not significantly risk federal enforcement. This follows similar legislation in Oregon and Washington State. The California Cannabis Authority (CCA) believes the Controlled Substances Act (CSA) would not preempt California's moves towards interstate cannabis commerce. In separate news, the Teamsters have raised concerns about a 'fake union' linked to cannabis company Caliva, associated with Jay-Z, which operates under The Parent Co Holding Corp. (OTCPK: GRAM) (OTC:GRAMF).

Portfolio Pulse from Joana Scopel

August 23, 2023 | 8:39 pm

DIS

SPY

The Walt Disney Company's (NYSE:DIS) stock performance has been impacted by Florida Governor Ron DeSantis's actions and policies. DeSantis revoked Disney's autonomous privileges over its Orlando, Florida region and enacted a bill removing Disney's unique authorities. This has led to a series of lawsuits. An investment of $1,000 in Disney stock when DeSantis took office in 2019 would be worth $764.48 today, a decrease of 23.6%. In comparison, a $1,000 investment in the SPDR S&P 500 Global ETF Trust (NYSE:SPY) would have increased by 85.8% over the same period.

Portfolio Pulse from Chris Katje

August 23, 2023 | 8:05 pm

JAZZ

Pharmaceutical company Verdemed has received five approvals from the Brazilian Health Regulatory Agency, making it the leader in authorized cannabis-based medications in Brazil. The company now offers products such as Canabidiol Verdemed, a counterpart to Jazz Pharmaceuticals' Epidiolex. Verdemed plans to double its product sales by the end of 2024 and is set to channel investments into research and development. The company has also initiated a new investment round to raise $3 million and plans to undertake an IPO on the Toronto Stock Exchange.

Portfolio Pulse from Javier Hasse

August 23, 2023 | 7:57 pm