Streetbeat News

Stock Prices

AAPL

AMZN

GOOG

GOOGL

META

ORCL

SAVA

TSLA

On Monday, the U.S. stock market showed mixed results with the Dow Jones slightly up and NASDAQ, S&P 500 down. Boeing, Oracle, Meta Platforms, Cassava Sciences, and Tesla were among the most watched stocks due to various reasons including legal investigations, upcoming financial results, and product updates.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 2:33 am

JPM

Jamie Dimon, CEO of JPMorgan Chase, described the U.S. economy as 'kind of booming' but also cautioned that a recession remains a possibility. His comments were made at the Australian Financial Review Business Summit and reflect ongoing concerns about the U.S. economy's potential for a recession despite its current strength. Dimon had previously warned about the risks of a recession and the market's underestimation of these risks. The recent increase in the unemployment rate from 3.7% to 3.9% in February has added to these concerns.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 1:50 am

JPM

Edward Snowden criticized JPMorgan CEO Jamie Dimon's stance on Bitcoin, highlighting the irony in Dimon's personal disapproval versus JPMorgan's involvement in Bitcoin-related activities. Despite Dimon's criticism of Bitcoin, citing its use in illegal activities, JPMorgan has offered Bitcoin-centric financial products due to client demand. Bitcoin's price surged past $70,000, reaching a new all-time high, with Ethereum also seeing significant gains.

Portfolio Pulse from Benzinga Neuro

March 12, 2024 | 1:33 am

LMFA

Trading for LMFA was halted at 7:50:00 p.m. ET due to pending news. The halt is a temporary measure until the news affecting the company is released.

Portfolio Pulse from Benzinga Newsdesk

March 11, 2024 | 11:50 pm

SHIBUSD

Despite significant whale movements and token burns, Shiba Inu (SHIB) did not experience a rally last week. A notable transaction involved the movement of 2 trillion SHIB tokens between Crypto.com's hot wallets, valued at $78.5 million. Additionally, a transfer of 332.4 million SHIB tokens from Cumberland to an unknown wallet was recorded. A single transaction burned 211.5 million SHIB tokens. The total number of SHIB addresses reached a new high of 3.88 million, with 1.29 million currently holding the token. Shibarium's TVL hit a new peak of $2.25 million on March 5, supported by cheaper fees and faster transactions. SHIB's price correlation with Bitcoin is at 0.92, indicating a parallel movement.

Portfolio Pulse from Khyathi Dalal

March 11, 2024 | 11:22 pm

META

Legislation targeting TikTok's operations in the U.S. is advancing rapidly, with a bill that could force its sale or result in a ban passing the House Energy and Commerce Committee unanimously. President Biden has expressed readiness to sign the bill, while former President Trump opposes the ban, citing it would unfairly benefit Meta Platforms Inc.'s Facebook. TikTok, surprised by the bill's progress, is exploring strategies to prevent its passage, including legal challenges and lobbying senators. The company argues that separating its U.S. operations would compromise its global appeal.

Portfolio Pulse from Franca Quarneti

March 11, 2024 | 11:10 pm

PBM

Psyence Biomedical Ltd (NASDAQ:PBM) has received approval from the Australian Health Research Ethics Committee to begin a Phase IIb study in Melbourne, Australia, focusing on the use of psilocybin for palliative care patients with Adjustment Disorder following a cancer diagnosis. The study, in partnership with iNGENū Pty Ltd, will test different doses of psilocybin combined with psychotherapy. Additionally, Psyence Group has undergone a business restructuring, including a spinout deal resulting in a 37% interest in PBM and the transfer of non-clinical business assets to reduce overhead.

Portfolio Pulse from Lara Goldstein

March 11, 2024 | 11:02 pm

CURLF

GTBIF

MSOS

TCNNF

VRNOF

Tension between the White House and the DEA over marijuana rescheduling is increasing, with DEA officials questioning the medicinal benefits of cannabis despite HHS documents supporting its medical use. The DEA's resistance and concerns over THC potency have caused cannabis stocks to wobble, with notable dips in stocks like MSOS, CURLF, GTBIF, VRNOF, and TCNNF. Rescheduling cannabis could offer significant benefits for the industry, including federal tax deductions and more research opportunities, but faces legal and international treaty concerns.

Portfolio Pulse from Maureen Meehan

March 11, 2024 | 10:56 pm

ADBE

KSS

ONON

WallStreetBets users are discussing the upcoming earnings reports for Adobe, On Holdings, and Kohl's. Opinions on Adobe are mixed, with some expecting a decline due to AI competition, while others see Adobe's AI integration as a strength. On Holdings is expected to perform well in its earnings report, with its popularity surging. Kohl's is facing skepticism, with many users planning to buy puts ahead of its earnings report, expecting poor performance.

Portfolio Pulse from Erica Kollmann

March 11, 2024 | 10:01 pm