Streetbeat News

Regulatory

MNK

Trading of shares in Mallinckrodt Plc has been halted due to pending news.

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 5:34 pm

BTCUSD

Monochrome Asset Management, in partnership with Vasco Trustees, has revised its application with the Australian Securities Exchange (ASX) to offer a spot Bitcoin ETF, marking the first such filing under Australia's new crypto regulations. The Monochrome Bitcoin ETF (IBTC) will provide investors with direct exposure to Bitcoin. The firm's CEO, Jeff Yew, believes the launch of a Bitcoin ETF on the ASX would signal the end of the 'unregulated Wild West' era and offer a structured and protected environment for investors.

Portfolio Pulse from Murtuza Merchant

July 14, 2023 | 4:40 pm

BTCUSD

ETHUSD

Binance, a major cryptocurrency exchange, has laid off over 1,000 employees amid an ongoing investigation by the Department of Justice (DOJ).

Portfolio Pulse from Happy Mohamed

July 14, 2023 | 4:35 pm

BLK

BTCUSD

BlackRock Inc's CEO, Larry Fink, has expressed his belief that cryptocurrencies will surpass international currencies due to their global demand. BlackRock is currently filing for the establishment of the U.S's first spot Bitcoin ETF. Fink referred to cryptocurrency as 'digital gold' and a 'global asset'. He also mentioned the crucial role that Gold ETFs played in investing in that asset, expressing his hope for a similar result with cryptocurrency.

Portfolio Pulse from Murtuza Merchant

July 14, 2023 | 4:00 pm

COIN

XRPUSD

The cryptocurrency XRP Token from Ripple saw a significant increase after a U.S. judge ruled that the sale of the XRP token by Ripple is not an offer of “investment contracts.” This ruling has led to various cryptocurrency platforms, such as Coinbase Global Inc, considering reinstating XRP as a tradable cryptocurrency. Despite the sharp increase, XRP still trades far off from its all-time highs.

Portfolio Pulse from Chris Katje

July 14, 2023 | 3:51 pm

CGC

Canopy Growth's shares are trading lower after the company was informed by Nasdaq that it is not in compliance with listing rules.

Portfolio Pulse from Benzinga Newsdesk

July 14, 2023 | 3:25 pm

GILD

The FDA has approved Gilead Sciences Inc's (NASDAQ:GILD) supplemental new drug application for using Veklury (remdesivir) in COVID-19 patients with severe renal impairment, including those on dialysis. This makes Veklury the first and only approved antiviral COVID-19 treatment that can be used across all stages of renal disease. The approval was based on results from a Phase 1 study and from the Phase 3 REDPINE trial.

Portfolio Pulse from Vandana Singh

July 14, 2023 | 3:23 pm

BTCUSD

COIN

ETHUSD

XRPUSD

Coinbase Global, Inc. (NASDAQ:COIN) shares are volatile due to increased activity in the crypto market. A U.S. judge ruled that Ripple (CRYPTO: XRP) sales do not constitute an offer of investment contracts, causing several crypto tokens to surge. Coinbase relisted Ripple on its exchange, and its shares gained over 35%. Wedbush analyst Moshe Katri maintained Coinbase with an Outperform rating and raised the COIN price target from $75 to $110.

Portfolio Pulse from Erica Kollmann

July 14, 2023 | 2:58 pm

COIN

XRPUSD

The U.S. district court ruled that institutional sales of Ripple's (CRYPTO: XRP) token violated securities law, but it's not considered a security when sold through exchanges or programmatic sales. This ruling is seen as a major victory for the crypto industry. However, analysts caution that the rally in crypto-related stocks, including Coinbase (NASDAQ:COIN), which surged over 24% following the ruling, may not be justified.

Portfolio Pulse from Murtuza Merchant

July 14, 2023 | 2:46 pm

RNLSY

STLA

TSLA

WKSP

Renault (OTC:RNLSY) Chairman expressed concerns about Europe's over-reliance on China for EV supply chain, following China's decision to restrict metal exports. In the US, Worksport Ltd (NASDAQ:WKSP) announced significant progress at its US facility, aiming to deliver its Solis solar-powered tonneau cover and COR remote power storage system. Tesla Inc (NASDAQ:TSLA) stated that the US could go all-electric by the end of the decade. Toyota Motor (NYSE:TM) and Stellantis (NYSE:STLA) believe the EPA's expectations for EV market growth are overly optimistic. General Motors (NYSE:GM) aims to surpass Tesla in EV sales in the US.

Portfolio Pulse from Upwallstreet

July 14, 2023 | 2:13 pm