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AMD

BABA

NVDA

QQQ

SPY

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Nvidia Corp's stock is trading lower due to greater-than-expected inflation and overall market weakness. The stock is also affected by concerns over U.S.'s additional sanctions on China concerning artificial intelligence chips. Chinese companies, including Alibaba Group Holding, have ordered Nvidia AI chips in bulk, fearing a supply crisis. Concerns also loom over Nvidia's ability to supply AI chips, which could benefit Advanced Micro Devices, Inc and Samsung Electronics Co, Ltd.

Portfolio Pulse from Anusuya Lahiri

August 11, 2023 | 6:08 pm

SDGR

Schrödinger has been granted Orphan Designation Status for its drug for the treatment of Mantle Cell Lymphoma. This status is granted by the FDA to promote the development of drugs for rare diseases.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 6:03 pm

ETHUSD

A total of 4,742 Ether (ETH) worth $8.7 million was burned from Ethereum transactions on Thursday. This follows the implementation of the Ethereum improvement proposal EIP-1159, which changes the fee model and burns a base fee from each transaction, reducing the supply of Ether. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether was -4.68% yesterday.

Portfolio Pulse from Benzinga Insights

August 11, 2023 | 6:00 pm

ARKK

BTCUSD

COIN

The U.S. Securities and Exchange Commission (SEC) has once again delayed its decision on the spot Bitcoin (CRYPTO: BTC) exchange-traded fund (ETF) proposed by ARK Investment Management. The SEC has initiated a 21-day public comment window for the ARK 21Shares Bitcoin ETF, marking another delay in the approval process. ARK's initial application was submitted in May, with the SEC having until January 2024 to finalize its stance. The SEC has previously rejected ARK's crypto ETF submissions, citing inadequate measures to prevent deceptive and manipulative activities.

Portfolio Pulse from Murtuza Merchant

August 11, 2023 | 5:47 pm

WYNN

Wynn Resorts, Limited (NASDAQ:WYNN) has announced its decision to close its online sports betting and iGaming platform, WynnBET, in several jurisdictions due to the high marketing costs and the lack of iGaming legislation. The company will cease operations in Arizona, Colorado, Indiana, Louisiana, New Jersey, Tennessee, Virginia, and West Virginia, while operations in Nevada and Massachusetts will continue. Operations in New York and Michigan are under review.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 5:33 pm

CCJ

DNN

LEU

UEC

USO

UUUU

Iran has significantly slowed the pace of its accumulation of near weapons-grade enriched uranium and diluted some of its stockpile. This could ease tensions with the U.S. and allow the resumption of broader talks over its controversial nuclear program.

Portfolio Pulse from Happy Mohamed

August 11, 2023 | 5:21 pm

VRNOF

Verano Holdings Corp. (CSE:VRNO) (OTCQX:VRNOF) has lost its chance to get a share of the Alabama medical cannabis market after the state's cannabis regulator reissued licenses. Verano, which had secured a highly sought-after Integrated Facility License in June, was not included in the renewed licenses. The company has expressed disappointment and frustration, claiming it had the highest score of any applicant and will pursue all options to defend its license, including legal remedies.

Portfolio Pulse from Jelena Martinovic

August 11, 2023 | 5:21 pm

ACHR

STLA

UAL

Archer Aviation Inc (ACHR) has received a $215 million equity investment from Boeing Co (BA), Stellantis N.V. (STLA), and United Airlines Holdings Inc (UAL), increasing its total funding to over $1.1 billion. Archer also received FAA approval to begin flying its Midnight eVTOL aircraft and settled litigation with Boeing and Wisk Aero. The company is on track to deliver its first eVTOL aircraft to the Department of Defense. Archer's Q2 operating expense was $181.4 million and it expects Q3 operating expenses of $42 million - $52 million.

Portfolio Pulse from Shivani Kumaresan

August 11, 2023 | 5:10 pm

DIS

PENN

Penn Entertainment (PENN) has announced an agreement with The Walt Disney Company (DIS) to launch ESPN Bet in the fall. As part of the deal, PENN will divest the Barstool Sports business back to its founder, Dave Portnoy. A recent SEC filing from PENN listed 1,254,880 shares previously issued to Portnoy, which led to speculation that Portnoy was selling his PENN stock. However, Portnoy has refuted these claims, stating that he still owns the shares and has no plans to sell at the current price.

Portfolio Pulse from Chris Katje

August 11, 2023 | 5:03 pm

ABT

BSX

JNJ

MDT

Boston Scientific Corp (BSX) is set to present results from its ADVENT pivotal trial for the Farapulse Pulsed Field Ablation (PFA) system at the 2023 European Society of Cardiology Congress. The trial compares Farapulse to standard-of-care RF ablation and cryoballoon ablation. Analysts from Needham believe the trial could support FDA approval for Farapulse. The global electrophysiology market, valued at $7.6 billion in 2022, is projected to reach $9.4 billion by 2024. Boston Scientific's electrophysiology operations currently contribute about 5% of its revenue.

Portfolio Pulse from Vandana Singh

August 11, 2023 | 4:53 pm