Streetbeat News

Regulatory

SJ

Scienjoy has received a non-compliance notification from Nasdaq for failing to meet the minimum bid price requirement, as its closing bid price has been below $1.00 for 30 consecutive business days.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:16 pm

MFI

mF International has received a non-compliance notification from Nasdaq for not meeting the minimum bid price requirement. The company has been issued a notice of deficiency and faces potential delisting.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:13 pm

TRIB

Trinity Biotech plc (NASDAQ:TRIB) has received an extension to demonstrate compliance with Nasdaq's continued listing requirements. The company focuses on human diagnostics and diabetes management solutions, including wearable biosensors.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:12 pm

AOGO

Arogo Capital Acquisition Corp. (NASDAQ:AOGO) has received a delisting notice from Nasdaq due to non-compliance with market value and shareholder requirements. The company has until August 7, 2024, to appeal the decision.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 9:09 pm

AMD

BOX

INTC

NVDA

SMH

SOXX

The recent market downturn has posed challenges for Vice President Kamala Harris's presidential campaign, but her platform could revitalize hard-hit sectors. Major indices like the S&P 500, Nasdaq Composite, and Dow Jones showed recovery on Tuesday. Semiconductor companies, which were severely impacted, saw mixed results. Harris's economic plans focus on strategic industries, including green energy, electric vehicles, and semiconductors, supported by policies like the Inflation Reduction Act and the CHIPS and Science Act.

Portfolio Pulse from Natan Ponieman

August 06, 2024 | 9:01 pm

BTCUSD

ETHUSD

Jim Bianco of Bianco Research attributes the recent crash in Bitcoin and Ethereum to the Bank of Japan's unexpected interest rate hike, which led to a significant global market downturn. The yen carry trade unwinding caused ripple effects, including a 20% drop in the Japanese stock market and a 5% loss in the dollar's value against the yen. The cryptocurrency market saw over $1 billion in liquidations, with Bitcoin dropping nearly 19% and Ethereum falling by almost 25%. Bernstein's report suggests the downturn is due to broader market fears rather than crypto-specific issues and highlights potential recovery if U.S. recession fears lead to rate cuts and increased monetary liquidity.

Portfolio Pulse from Murtuza Merchant

August 06, 2024 | 8:46 pm

PRCH

Porch Group, Inc. (NASDAQ:PRCH) has filed an application to form a Texas reciprocal insurance exchange, transferring its homeowners insurance carrier, Homeowners of America Insurance Company (HOA), to the new entity. Porch contributed 18.3 million PRCH shares to HOA to bolster its balance sheet and support future growth.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 8:41 pm

JOBY

Joby Aviation Inc. (NYSE: JOBY) saw a 3.64% rise in its stock price following news of its application for air taxi certification in Australia. Despite this positive development, the stock remains in a bearish trend, down 35.16% over the past year and 20.83% year-to-date. Technical indicators suggest continued bearish pressure, although there are potential bullish opportunities for risk-tolerant investors.

Portfolio Pulse from Surbhi Jain

August 06, 2024 | 8:39 pm

PGEN

Precigen, Inc. (NASDAQ:PGEN) is strategically prioritizing its portfolio to focus on the potential launch of its gene therapy, PRGN-2012, for recurrent respiratory papillomatosis (RRP). The company is reducing its workforce by over 20% and has initiated patient enrollment in a confirmatory clinical trial for PRGN-2012, which is on track for a rolling BLA submission under an accelerated approval pathway.

Portfolio Pulse from Benzinga Newsdesk

August 06, 2024 | 8:27 pm

AAPL

AMZN

GOOG

GOOGL

META

A recent antitrust ruling against Alphabet Inc (GOOG, GOOGL) for monopolistic practices with its search engine could influence ongoing lawsuits against other major tech companies like Meta Platforms Inc (META), Amazon.com Inc (AMZN), and Apple Inc (AAPL). Legal experts are divided on the ruling's broader impact, with some suggesting it could boost cases against these companies, while others believe it may not significantly affect them.

Portfolio Pulse from Hayden Buckfire

August 06, 2024 | 8:08 pm