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Cannabis stocks surged following the U.S. Department of Justice's proposal to reclassify cannabis from a Schedule I to a Schedule III drug. Canopy Growth (NASDAQ:CGC) led the surge, with Tilray Brands (NASDAQ:TLRY) and Aurora Cannabis (NASDAQ:ACB) also seeing gains. Cannabis ETFs like AdvisorShares Pure US Cannabis ETF (NYSE:MSOS) and Amplify Alternative Harvest ETF (NYSE:MJ) experienced increased trading but later pulled back. Emily Paxhia of Poseidon Investment Management discussed the broader implications and challenges ahead.

Portfolio Pulse from Patricio Liddle

May 20, 2024 | 3:58 pm

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Tesla Inc. (NASDAQ:TSLA) is continuing its layoffs, which are expected to last through June, causing low morale among employees. The company has already laid off thousands of workers, including significant cuts in its Supercharger division. This has contributed to a 29% decline in Tesla's share value this year. Investors can gain exposure to Tesla stock via ETFs like Consumer Discretionary Select Sector SPDR Fund (NYSE:XLY) and Fidelity MSCI Consumer Discretionary Index ETF (NYSE:FDIS).

Portfolio Pulse from Shivani Kumaresan

May 20, 2024 | 3:56 pm

CTNT

Cheetah Net Supply Chain Service (CTNT) shares have resumed trading. This development is significant for investors as it may impact the stock's short-term price movement.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 3:56 pm

JPM

JP Morgan CEO Jamie Dimon mentioned potential future organic growth opportunities during the Investor Day event.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 3:52 pm

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The article discusses the performance of various cannabis industry subsectors following the HHS announcement on rescheduling. It highlights the stock price movements of ag-tech, cannabis lenders, hemp, and software/media sectors, mentioning specific companies like Scotts Miracle Grow, GrowGeneration, Hydrofarm, Urban Gro, IIPR, NewLake, Chicago Atlantic, AFC Gamma, Silver Spike, and Leafly. The article suggests that while plant-touching stocks have seen significant gains, ancillary sectors like lenders, ag-tech, and software/media offer attractive investment opportunities with less risk.

Portfolio Pulse from Viridian Capital Advisors

May 20, 2024 | 3:51 pm

JPM

JP Morgan CEO Jamie Dimon announced during Investor Day that the company will not be buying back a lot of stock at current prices.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 3:50 pm

WDAY

Benzinga's options scanner identified significant options activity on Workday (NASDAQ:WDAY), with over 12 transactions totaling $389,110. Analysts have set price targets between $220 and $290, with an average target of $315. The stock is currently trading at $256.69, down 0.48%, and is approaching overbought territory. Earnings are expected in 3 days.

Portfolio Pulse from Benzinga Insights

May 20, 2024 | 3:46 pm

VST

Financial giants have shown a bearish sentiment towards Vistra (NYSE:VST) through unusual options activity. Analysis revealed 16 unusual trades with a majority being bearish. The stock is currently trading at $91.75, down by 2.48%, and analysts have set an average target price of $109.5.

Portfolio Pulse from Benzinga Insights

May 20, 2024 | 3:46 pm

SMR

NuScale Power shares are trading higher after a decline last week due to a short seller report. Additionally, uranium stocks are rising following news that the US will offer up to $3.4 billion for domestic uranium enrichment.

Portfolio Pulse from Benzinga Newsdesk

May 20, 2024 | 3:42 pm

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