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Regulatory

BTCUSD

COIN

Tether co-founder William Quigley criticizes the Biden administration for allowing the SEC to take an aggressive stance towards crypto companies, particularly under Chairman Gary Gensler. He suggests that a Trump presidency might result in less aggressive regulatory actions. Quigley also projects Bitcoin could reach up to $300,000 in 2025 based on historical patterns.

Portfolio Pulse from Murtuza Merchant

June 14, 2024 | 12:33 pm

CLPS

CLPS Inc. has received a notification from Nasdaq regarding its failure to meet the minimum bid price requirement. The company now has a compliance period to regain compliance with Nasdaq's listing rules.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 12:32 pm

GRI

GRI Bio has announced a 1-for-13 reverse stock split effective June 17, 2024. The company aims to regain compliance with Nasdaq listing requirements. Trading on a split-adjusted basis will begin on June 18, 2024, under a new CUSIP.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 12:07 pm

GBTC

IBIT

Bitcoin ETFs saw a net outflow of $226 million on June 13, with Grayscale's Bitcoin Investment Trust (GBTC) experiencing a $61.53 million outflow. However, BlackRock's iShares Bitcoin Trust (IBIT) saw a net inflow of $18.23 million. Market analysts attribute the outflows to miner capitulation and regulatory uncertainty. Despite this, Bitcoin's price rose to $67,000. Ethereum may present an accumulation opportunity ahead of a potential spot ETH ETF approval in late summer.

Portfolio Pulse from Murtuza Merchant

June 14, 2024 | 11:59 am

TSLA

Tesla Inc. (NASDAQ:TSLA) will recall nearly 6,000 imported vehicles in China due to faulty seat belt warnings. The recall involves Model 3, S, and X vehicles and will be addressed via an over-the-air software update. This follows a similar recall in the U.S. affecting over 125,000 vehicles.

Portfolio Pulse from Anan Ashraf

June 14, 2024 | 11:51 am

IVVD

Invivyd's investigational monoclonal antibody VYD222 shows continued in vitro neutralization activity against emerging SARS-CoV-2 variants, including KP.1.1 FLiRT and KP.3. The CDC predicts KP.3 will become the dominant variant soon.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 11:17 am

BRK.A

BYDDF

Chinese automakers, led by Warren Buffett-backed BYD, have outsold U.S. brands for the first time, selling 13.4 million vehicles compared to 11.9 million by American brands. This growth is driven by competitive pricing and expansion into emerging markets, despite rising trade tensions and increased tariffs on Chinese EVs.

Portfolio Pulse from Benzinga Neuro

June 14, 2024 | 11:01 am

GLD

SPY

UNG

UUP

On June 13th, U.S. stock markets closed mixed with the Nasdaq and S&P 500 reaching record highs. Economic data showed a drop in U.S. producer prices and a rise in jobless claims. The Federal Reserve held interest rates steady. Most S&P 500 sectors fell, while tech and real estate stocks rose. Asian markets were mixed, with Japan's Nikkei 225 gaining and Australia's S&P/ASX 200 declining. European markets continued to decline, and commodities showed mixed performance. The U.S. Dollar Index advanced.

Portfolio Pulse from Akanksha Bakshi

June 14, 2024 | 11:00 am

OPT

Trading halt status updated at 7:00:00 AM ET with news and resumption times provided.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 11:00 am

PNM

PNM Resources announced that its unit, Texas-New Mexico Power Company (TNMP), received approval for a $15.7 million annual increase in distribution investment recovery, effective July 28, 2024. This approval allows TNMP to recover over $205 million in net distribution infrastructure investments. Recent legislation permits semi-annual filings, reducing regulatory lag and supporting TNMP's investment plan for reliable growth.

Portfolio Pulse from Benzinga Newsdesk

June 14, 2024 | 10:40 am