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FLNC

Fluence Energy Inc (NASDAQ:FLNC) stock dropped 13.4% to $22.30 after the announcement of a secondary offering of 18 million shares by its controlling stockholders. The offering does not involve new shares from Fluence or proceeds to the company. J.P. Morgan Securities LLC, Barclays Capital Inc., and Morgan Stanley are managing the offering.

Portfolio Pulse from Henry Khederian

December 06, 2023 | 6:54 pm

IPA

ImmunoPrecise Antibodies Ltd (NASDAQ:IPA) stock dropped 23% to $1.19 after announcing a public offering of common shares at $1.00 per share, aiming to raise $1.1 million. The offering includes an option for underwriters to purchase an additional 165,000 shares and is expected to close on December 8. The funds will be used for R&D, expanding lab facilities, and general corporate purposes. IPA's 52-week range is between $0.94 and $5.90.

Portfolio Pulse from Henry Khederian

December 06, 2023 | 6:52 pm

ARKF

HOOD

Robinhood Markets, Inc. (NASDAQ:HOOD) shares are experiencing heavy trading volume and an upward trend, with over 30 million shares traded in the session compared to the 100-day average of 7.934 million. The surge follows ARK Fintech Innovation ETF's (NYSE:ARKF) purchase of 14,702 Robinhood shares and a report of $1.4 billion in net customer deposits for November. HOOD is trending on Stocktwits and WallStreetBets and is trading above its 50-day moving average, close to its 52-week high.

Portfolio Pulse from Erica Kollmann

December 06, 2023 | 6:51 pm

BIOL

BIOLASE, Inc. (NASDAQ:BIOL) has announced a registered direct offering and concurrent private placement priced at-the-market under Nasdaq rules, totaling approximately $1.4 million. The offering includes common stock and pre-funded warrants, along with additional warrants to purchase common stock, with an effective purchase price of $1.23 per share. The proceeds are intended for working capital, capital expenditures, product development, and sales and marketing investments. Maxim Group LLC is the sole placement agent, and the offering is expected to close on December 8, 2023.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:47 pm

F

Ford Motor has announced that its Mustang Mach-E electric vehicles are unlikely to qualify for federal tax credits starting January. This development could affect consumer purchasing decisions and potentially impact Ford's electric vehicle sales.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:47 pm

BFYW

Better For You Wellness, Inc. (OTC:BFYW) has completed an asset purchase agreement with The Ideation Lab, LLC, acquiring rights to brands including the Stephen James Curated Coffee Collection (SJCCC). The $3 million deal involves 300,000 series A preferred shares at $0.01 each, minimizing shareholder dilution. SJCCC is already in sales channels like Kroger and Amazon. The acquisition aims to expand BFYW's presence in the wellness industry and is expected to enhance shareholder value and profitability. BFYW's stock traded lower by 11.72% at $0.0057 following the announcement.

Portfolio Pulse from Jelena Martinovic

December 06, 2023 | 6:38 pm

RYTM

Rhythm Pharmaceuticals Inc (NASDAQ:RYTM) announced positive Phase 3 trial results for setmelanotide in young patients with Bardet-Biedl syndrome and other obesity-related genetic deficiencies. The drug achieved significant reductions in BMI-Z score and mean BMI. Rhythm has applied for regulatory approval in Europe and plans to submit a supplementary New Drug Application to the FDA in the first half of 2024. Additionally, Rhythm's new MC4R-specific agonist, RM-718, showed promise in pre-clinical studies, with Phase 1 trials expected to start in the first half of 2024. RYTM shares rose 4.65% to $38.52.

Portfolio Pulse from Vandana Singh

December 06, 2023 | 6:36 pm

AMD

AMD President Victor Peng has announced that AMD GPUs, including the MI300, will be supported in the standard OpenAI Triton distribution, starting with the 3.0 release. This integration could potentially enhance the adoption of AMD GPUs in the AI and machine learning market, where NVIDIA has been dominant.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:32 pm

CSX

Over the past 20 years, CSX Corporation (NASDAQ:CSX) has delivered an average annual return of 15.4%, outperforming the market. A $100 investment in CSX 20 years ago would now be worth $1,748.64. CSX's market capitalization currently stands at $66.30 billion.

Portfolio Pulse from Benzinga Insights

December 06, 2023 | 6:30 pm

WBUY

Webuy Global Ltd shares have resumed trading. There is no additional context provided regarding the reasons for the halt or the implications of the resumption.

Portfolio Pulse from Benzinga Newsdesk

December 06, 2023 | 6:21 pm