Streetbeat News

Regulatory

IMCC

IM Cannabis Corp. (NASDAQ:IMCC) has received a warning from NASDAQ as its stock price fell below the $1 minimum bid price requirement. The company has until January 29, 2024, to regain compliance or face potential delisting. The company's shares bounced back above the $1 mark on August 2, but must maintain a closing bid price of no less than $1 for a minimum of 10 business days to regain compliance. IM Cannabis Corp. is known for supplying medical cannabis primarily to clients in Israel and Germany.

Portfolio Pulse from Joana Scopel

August 07, 2023 | 8:22 pm

FB

Norway's Data Protection Authority has announced it will fine Facebook owner Meta Platforms NOK 1M per day starting from August 14, according to Reuters.

Portfolio Pulse from Benzinga Newsdesk

August 07, 2023 | 7:08 pm

TLLTF

Roz McCarthy, founder and CEO of Minorities for Medical Marijuana (M4MM) and owner of Black Buddha Cannabis (BBC), urged potential investors in the cannabis industry to scrutinize claims made by organizations, regardless of where these assertions appear. BBC partnered with TILT Holdings (OTCQX:TLLTF) last October. McCarthy emphasized the importance of transparency and verification in the rapidly evolving sector.

Portfolio Pulse from Joana Scopel

August 07, 2023 | 6:56 pm

ETHUSD

On Sunday, 3,087.63 Ether (ETH) worth $5,592,687 was burned from Ethereum transactions. This follows the Ethereum blockchain's upgrade known as EIP-1159, which changed the fee model and burns a base fee from each transaction. Ethereum is currently issuing new Ether at a rate of 4% per year, expected to decrease to around 0.5-1% with the Ethereum 2.0 upgrade. The net annualized issuance rate for Ether yesterday was -1.68%.

Portfolio Pulse from Benzinga Insights

August 07, 2023 | 6:00 pm

BIIB

SAGE

The FDA approved Sage Therapeutics Inc and Biogen Inc's Zurzuvae for adults with postpartum depression but issued a Complete Response Letter for the New Drug Application for zuranolone for major depressive disorder. Analysts from Wedbush, William Blair, Needham, Truist Securities, and HC Wainwright have expressed concerns about the effectiveness of zuranolone and the potential need for additional studies. Price targets for both companies have been lowered, and SAGE shares are down 52.30%.

Portfolio Pulse from Vandana Singh

August 07, 2023 | 5:44 pm

SAGE

VTGN

The article lists the stocks that gained and lost the most during Monday's mid-day trading session. Among the gainers were Vistagen Therapeutics, Save Foods, Poseida Therapeutics, and Missfresh Limited, all of which saw significant jumps in their share prices due to various positive developments. On the other hand, Sage Therapeutics, Tivic Health Systems, Yellow Corporation, and Quantum-Si incorporated were among the biggest losers, with their shares tumbling due to negative news such as worse-than-expected results and regulatory setbacks.

Portfolio Pulse from Lisa Levin

August 07, 2023 | 5:28 pm

AMZN

Amazon.com is scheduled to meet with the Federal Trade Commission (FTC) next week. This meeting comes amid expectations of a potential antitrust lawsuit against the online retailer, as reported by Reuters.

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 5:10 pm

SPY

VGK

Ukraine's Foreign Minister has requested the U.S. to supply Kyiv with Long-Range Army Tactical Missile Systems (ATCMs).

Portfolio Pulse from Happy Mohamed

August 07, 2023 | 4:47 pm

TSLA

Used Tesla Inc vehicles may now be eligible for a federal tax credit of up to $4,000, according to updated guidance from the Internal Revenue Service (IRS). This change could be a significant boost for prospective Tesla buyers looking to enter the electric vehicle (EV) market at a lower price point. The IRS has not explicitly confirmed the eligibility of used Tesla vehicles for this tax credit, but the new direction suggests a possible change in their status.

Portfolio Pulse from Benzinga EV Insights

August 07, 2023 | 4:37 pm

BTCUSD

Esther Freeman, a pensioner who earned approximately $270,000 from Bitcoin investments, had her lawsuit against Bank Hapoalim dismissed after reaching an agreement. Freeman had sued the bank for refusing her deposit of the cryptocurrency profits. The bank had declined her deposit request, citing the inability to verify the money's origin and the inherent risks of digital currencies. The outcome of Freeman's attempt to deposit her earnings remains unclear.

Portfolio Pulse from Murtuza Merchant

August 07, 2023 | 4:28 pm