Streetbeat News

Regulatory

AMC

CHWY

GME

AMC Entertainment Holdings Inc (NYSE:AMC) shares are experiencing volatility due to multiple factors. The success of 'Inside Out 2' at the box office, generating $1.014 billion globally, is a positive development. However, the news of GameStop Corp (NYSE:GME) trader Keith Gill's new stake in Chewy Inc (NYSE:CHWY) and the subsequent drop in GameStop shares are weighing on AMC. Additionally, AMC is in talks with lenders to reduce its $2.8 billion debt due in 2026.

Portfolio Pulse from Adam Eckert

July 01, 2024 | 6:24 pm

COIN

The U.S. Marshals Service has selected Coinbase Prime (NASDAQ:COIN) to custody and trade $32M in large cap digital assets. This decision highlights the growing trust in Coinbase's secure infrastructure and its role in institutional digital asset management.

Portfolio Pulse from Murtuza Merchant

July 01, 2024 | 6:02 pm

HUMA

Humacyte, Inc. (NASDAQ:HUMA) saw a 15% increase in its stock price after receiving the FDA's Regenerative Medicine Advanced Therapy (RMAT) designation for its Acellular Tissue Engineered Vessel (ATEV) for treating Advanced Peripheral Artery Disease (PAD). This is the third RMAT designation for Humacyte, which aims to expedite the development and review of therapies for serious conditions.

Portfolio Pulse from Dylan Berman

July 01, 2024 | 5:39 pm

MSOS

WEED

Roundhill Investments has announced a fee waiver for its Roundhill Cannabis ETF (BATS:WEED), reducing its expense ratio to 0% until July 1, 2025. This move aims to capitalize on the anticipated reclassification of cannabis to Schedule III, which could benefit the industry through reduced penalties and tax advantages. The AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) has also shown resilience, highlighting potential stabilization in the sector.

Portfolio Pulse from Patricio Liddle

July 01, 2024 | 5:29 pm

AMD

NVDA

Nvidia (NVDA) and Advanced Micro Devices (AMD) are trading lower due to regulatory scrutiny and market dynamics. Nvidia faces antitrust charges from French regulators, while Morgan Stanley analyst Joseph Moore remains optimistic about Nvidia's near-term prospects, raising the price target from $116 to $144.

Portfolio Pulse from Anusuya Lahiri

July 01, 2024 | 5:16 pm

TEVA

The FTC has launched an investigation into Teva Pharmaceutical Industries Ltd (NYSE:TEVA) over alleged patent abuse related to its asthma and COPD inhalers. The FTC claims Teva's practices have blocked generic competition, leading to higher prices in the U.S. Teva is also in discussions to settle a lawsuit with the DOJ over alleged kickbacks.

Portfolio Pulse from Vandana Singh

July 01, 2024 | 5:05 pm

BTCUSD

ETHUSD

10x Research warns of a potential Bitcoin downturn to $55,000, citing technical indicators, political factors, and macroeconomic conditions. The report highlights concerns about institutional adoption, miner selling, and seasonal trends.

Portfolio Pulse from Murtuza Merchant

July 01, 2024 | 4:51 pm

AZN

AstraZeneca's marketing authorization application for sipavibart, a COVID-19 prevention drug for immunocompromised patients, has been accepted by the European Medicines Agency under an accelerated assessment procedure. The application is based on positive results from the SUPERNOVA Phase 3 trial.

Portfolio Pulse from Vandana Singh

July 01, 2024 | 4:43 pm

BABA

Shein's plans for a New York IPO have collapsed due to geopolitical and legal issues, and its London IPO faces similar pressures. The company is now considering a Hong Kong listing. This reflects the increasing difficulty for Chinese firms to list in Western markets due to political and regulatory challenges. Despite this, some Chinese companies, like Zeekr, have successfully listed in New York.

Portfolio Pulse from The Bamboo Works

July 01, 2024 | 4:21 pm

DFS

FMQQ

IPO

PMTS

The U.S. Supreme Court ruled that merchants can challenge debit-card swipe fees beyond a six-year statute, potentially leading to a surge in lawsuits against federal agencies. This decision may impact debit-card stocks and ETFs, with mixed reactions observed in mid-day trading.

Portfolio Pulse from Michael Juliano

July 01, 2024 | 4:18 pm