Streetbeat News

Regulatory

DIS

Walt Disney Co. (NYSE:DIS) is in a legal battle with Florida Governor Ron DeSantis, who has accused the company of promoting 'sexualization of children'. The dispute began after Disney voiced its opposition to a Florida law limiting instruction on gender identity and sexual orientation for young children. Disney filed a lawsuit against DeSantis in April 2023. Legal experts suggest that Disney may have limited options and may have to endure being a 'whipping boy' with 'almost no recourse'.

Portfolio Pulse from Shanthi Rexaline

July 04, 2023 | 3:51 am

AAPL

GOOG

GOOGL

META

Meta Platforms Inc. (NASDAQ:META) is set to launch its Twitter-alternative 'Threads' on July 6. The app made its debut on Alphabet Inc.'s (NASDAQ:GOOG) (NASDAQ:GOOGL) Google Play Store and Apple Inc.'s (NASDAQ:AAPL) iOS App Store. However, the launch has been criticized by Jack Dorsey and Elon Musk over concerns about user privacy and data collection.

Portfolio Pulse from Ananya Gairola

July 04, 2023 | 2:15 am

DWAC

Digital World Acquisition (NASDAQ:DWAC), the primary financial collaborator of former President Donald Trump’s media company, has proposed an $18 million settlement to the Securities and Exchange Commission (SEC) to resolve an investigation into its initial merger discussions. The settlement, still pending SEC approval, could expedite the long-delayed merger between Digital World and Trump Media & Technology Group.

Portfolio Pulse from Benzinga Newsbot

July 04, 2023 | 1:37 am

CMND

NFLX

PSIL

SILO

A bipartisan bill has created a $75 million research grant program for the potential treatment of mental health conditions in active duty military members. The Multidisciplinary Association for Psychedelic Studies (MAPS) announced its final agenda for its upcoming event, which will include information on two recently-identified lead compounds. Psychedelics were featured on Anderson Cooper’s CNN show. Several companies, including Silo Pharma, Clearmind, and SciSparc, are developing treatments using psychedelics. The AdvisorShares Psychedelics ETF (PSIL) showed an uptrend.

Portfolio Pulse from Lara Goldstein

July 03, 2023 | 9:01 pm

COIN

MSTR

MicroStrategy Incorporated (NASDAQ:MSTR) shares traded higher after Cboe refiled Bitcoin ETF proposals. Cboe is collaborating with Coinbase (NASDAQ:COIN) to prevent market manipulation during the ETF launch process. MicroStrategy, which has significant Bitcoin holdings, experienced above-average trading volume and has elevated short interest.

Portfolio Pulse from Ryan Gustafson

July 03, 2023 | 7:47 pm

AMD

INTC

SMH

SOXX

China has imposed export restrictions on gallium and germanium, metals critical in the production of semiconductors, 5G base stations, and solar panels. This move is seen as a counter to the U.S. and others' restrictions on high-end chips and chip-making equipment sales to China. The decision could impact U.S. companies like Intel Corporation and Advanced Micro Devices, Inc., as well as ETFs such as the VanEck Vectors Semiconductor ETF and the iShares PHLX Semiconductor ETF.

Portfolio Pulse from Benzinga Newsbot

July 03, 2023 | 7:43 pm

BLK

BTCUSD

COIN

GBTC

Bernstein suggests that the U.S. Securities and Exchange Commission (SEC) may soon approve spot Bitcoin ETFs, despite its concerns about the reliability of spot exchanges like Coinbase Global Inc. The SEC has already approved futures-based Bitcoin ETFs. Last month, a BlackRock Inc unit submitted paperwork for a spot Bitcoin ETF, and Grayscale is also trying to transform its Bitcoin Trust into an ETF. The report concludes that the SEC would prefer a regulated Bitcoin ETF led by mainstream Wall Street participants.

Portfolio Pulse from Murtuza Merchant

July 03, 2023 | 7:34 pm

SNAP

French President Emmanuel Macron has blamed social media platforms and video games for the recent youth riots in France. He specifically mentioned Snapchat (NYSE:SNAP) and TikTok as platforms used to organize the unrest. Macron has called on social media companies to take action against the spread of sensitive content related to the riots and to disclose the identities of individuals propagating violence. A Snapchat spokesperson responded by stating the company has zero tolerance for content promoting or inciting violence.

Portfolio Pulse from Franca Quarneti

July 03, 2023 | 7:22 pm

BTCUSD

ETHUSD

Pan Gongsheng, a critic of cryptocurrencies, has been appointed as the leading official of the People's Bank of China (PBOC). Pan, who has a substantial background in the financial sector, has previously served as the deputy governor at China's central bank and led the team focused on mitigating Internet financial risks, including regulating cryptocurrency firms and curbing the use of cryptocurrencies in China.

Portfolio Pulse from Murtuza Merchant

July 03, 2023 | 6:38 pm

TSLA

Florida Governor Ron DeSantis has vetoed a bill that would have increased the state's purchase of electric vehicles, despite near-unanimous bipartisan support. The decision could potentially impact Tesla Inc., as well as Ford Motor Company and General Motors, which have growing electric vehicle fleet sales divisions. The vetoed bill would have enabled the state to reduce costs by acquiring electric vehicles for its fleet of state-owned vehicles.

Portfolio Pulse from Chris Katje

July 03, 2023 | 6:12 pm