Streetbeat News

Regulatory

NGD

New Gold Inc. reported a fatal accident at its Rainy River Mine in northwestern Ontario, leading to a voluntary suspension of operations. An investigation is underway.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 3:17 pm

LCID

NIO

RIVN

TSLA

XPEV

Tesla Inc (NASDAQ:TSLA) reported disappointing Q2 results, missing earnings expectations and causing an 8% drop in premarket trading. This decline also affected shares of Rivian Automotive Inc (NASDAQ:RIVN), Lucid Group Inc (NASDAQ:LCID), Nio Inc (NYSE:NIO), and XPeng Inc (NYSE:XPEV). Tesla's automotive revenue dropped 7% YoY, and adjusted income plummeted 43% YoY. Despite remaining the top EV seller in the U.S., Tesla is losing market share to rivals. CEO Elon Musk announced plans for an affordable EV by 2025 and delayed the robotaxi details release to October 10th.

Portfolio Pulse from Upwallstreet

July 24, 2024 | 3:17 pm

NVDA

Nvidia has developed a new chip specifically for the Chinese market that features a special server design to comply with U.S. export regulations. This move aims to maintain Nvidia's presence in China despite the tightening of U.S. rules on technology exports.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 2:50 pm

TSLA

Elon Musk stated that a Trump presidency and the potential repeal of the Inflation Reduction Act (IRA) would be devastating for Tesla's competitors but might benefit Tesla in the long term. Musk also mentioned postponing plans for a gigafactory in Mexico due to potential tariffs under a Trump administration.

Portfolio Pulse from Anan Ashraf

July 24, 2024 | 2:45 pm

TCNNF

Caleb Counts, CEO of Connected Cannabis Co., discussed the company's journey from humble beginnings to becoming a celebrity favorite, with endorsements from artists like Travis Scott and ASAP Rocky. The company focuses on premium strains, sustainability, and expansion beyond California, including a key partnership with Trulieve Cannabis in Florida.

Portfolio Pulse from Patricio Liddle

July 24, 2024 | 2:12 pm

TLRY

Tilray Brands, Inc. (NASDAQ:TLRY) has received its second approval for a medical marijuana extract in Portugal, specifically for its Tilray Oral Solution THC10:CBD10. This follows previous approvals for other cannabis products in Portugal and Germany. Tilray's shares were trading 1.07% lower at $1.87 during Wednesday’s pre-market session.

Portfolio Pulse from Nina Zdinjak

July 24, 2024 | 1:59 pm

EWC

The Bank of Canada has decided to maintain its interest rate at 4.50%, matching the estimated rate and down from the previous rate of 4.75%.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 1:46 pm

MSOS

YOLO

The DEA's call for public input on cannabis rescheduling received over 42,000 comments, with the majority supporting either rescheduling or full descheduling of cannabis. This significant public engagement highlights the importance of the issue. The potential rescheduling could benefit cannabis businesses by providing tax relief and adding jobs. The response of cannabis stocks, particularly ETFs like MSOS and YOLO, will be closely monitored.

Portfolio Pulse from Nina Zdinjak

July 24, 2024 | 1:34 pm

AMC

AMC Entertainment shares have been halted pending news related to a code. This could indicate significant upcoming information that may impact the stock price.

Portfolio Pulse from Benzinga Newsdesk

July 24, 2024 | 1:29 pm

IBIT

A Bitcoin-oriented startup has launched the 'Unbound Fund,' allowing Bitcoin holders to acquire Portuguese citizenship by investing €500,000 ($542,000) in BlackRock's iShares Bitcoin Trust (NASDAQ:IBIT). This fund combines cryptocurrency investment with the benefits of European residency and citizenship.

Portfolio Pulse from Khyathi Dalal

July 24, 2024 | 1:20 pm