Streetbeat News

Stock Prices

CDIO

Cardio Diagnostics Holdings, Inc. (CDIO) has regained compliance with Nasdaq's minimum bid price requirement for continued listing on The Nasdaq Capital Market. The company received a notification from Nasdaq on December 5, 2023, confirming that it meets the Minimum Bid Requirement set forth in Nasdaq Listing Rule 5550(a)(2).

Portfolio Pulse from Charles Gross

December 06, 2023 | 11:13 am

DWAC

Digital World Acquisition Corp. (DWAC) has extended the deadline to complete its initial business combination from December 8, 2023, to March 8, 2024, as announced by its Board of Directors on Tuesday.

Portfolio Pulse from Charles Gross

December 06, 2023 | 11:08 am

RCFA

Blue Gold has entered into a business combination agreement with RCF Acquisition Corp. (RCFA), which is expected to result in Blue Gold becoming a publicly traded company on the New York Stock Exchange. The transaction is aimed at facilitating Blue Gold's strategy to acquire and invest in top-tier gold assets within Ghana's Ashanti gold belt. The merger is anticipated to be completed in the second quarter of 2024.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:07 am

ASAN

HSBC analyst Stephen Bersey has downgraded Asana (NYSE:ASAN) from Hold to Reduce while maintaining the price target at $18.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:03 am

RCM

R1 RCM, a healthcare revenue cycle management company, has agreed to acquire Acclara Solutions, a patient revenue cycle management firm, for $675 million in cash along with warrants to purchase 12.2 million shares of R1 RCM stock.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 11:02 am

COIN

MARA

Coinbase (NASDAQ:COIN) and Marathon Digital (NASDAQ:MARA) stocks have seen significant increases following the rise in Bitcoin's value, with COIN up 74% in the past month and MARA up 2.83% on a recent Tuesday. When Bitcoin reached $42,000, COIN and MARA stocks rose 5.48% and 8.47%, respectively, from December 1 to December 4. The correlation between COIN and MARA stocks is very high, with a coefficient of determination (R^2) of 1.0.

Portfolio Pulse from Mehab Qureshi

December 06, 2023 | 11:00 am

BTC

ETH

Traders are showing increased interest in Ether (CRYPTO: ETH) over Bitcoin (CRYPTO: BTC), as indicated by derivatives market metrics. Ether futures on the Chicago Mercantile Exchange (CME) have seen a 30% increase in dollar value locked, reaching $711 million, surpassing Bitcoin's 19% growth. Ether futures are trading at a 5% higher premium than Bitcoin, and there's a stronger preference for Ether calls over Bitcoin puts in the options market. This shift occurs despite institutional investors' previous preference for Bitcoin, with 50% of their asset portfolios allocated to Bitcoin in September.

Portfolio Pulse from Benzinga Neuro

December 06, 2023 | 10:57 am

TSLA

Tesla Inc (NASDAQ:TSLA) is offering discounts on inventory Model 3 vehicles, with a rear-wheel drive (RWD) version available for about $28,000 after a $7,500 federal tax incentive. This price is valid until December 31, after which the incentive will be reduced to $3,750 due to new guidance aimed at reducing Chinese content in EV batteries. State-wide incentives could further lower the price, but these come with income restrictions. Elon Musk has commented that such incentives are hard to access for the average person, making Tesla vehicles more expensive in the short term compared to competitors like the Toyota Corolla or RAV4.

Portfolio Pulse from Anan Ashraf

December 06, 2023 | 10:55 am

AAPL

NIO

PCRFF

TSLA

NIO Inc. (NYSE:NIO) is planning to spin off its battery manufacturing division to attract external investors and improve profitability. The division, with expertise from former Apple Inc. (NASDAQ:AAPL) and Panasonic Holdings Corporation (OTC:PCRFF) engineers, aims to complete the spin-off by year-end. The new facility is expected to produce batteries for approximately 400,000 EVs annually. Despite a 40% decline over the past year, NIO's stock rose after Q3 delivery numbers exceeded expectations and the company announced the acquisition of manufacturing assets from Anhui Jianghuai Automobile Group Corp.

Portfolio Pulse from Nabaparna Bhattacharya

December 06, 2023 | 10:50 am

BLDR

B. Riley Securities analyst Alex Rygiel upgraded Builders FirstSource (NYSE:BLDR) from Neutral to Buy and increased the price target from $128 to $177.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 10:44 am