Streetbeat News

Stock Prices

Ford's Chair has called for a resolution to the ongoing UAW strike, warning that the supply base will start to collapse if the strike continues.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:11 pm

APPL

BYDDF

DIDIY

TSLA

XPEV

Analysts predict a potential spike in the stock price of China's largest EV maker, BYD Company Limited (OTC:BYDDF) (OTC:BYDDY), due to rising sales, improving margins, and rapid overseas expansion. Despite underperforming compared to peers like Tesla Inc (NASDAQ:TSLA), XPeng Inc (NYSE:XPEV), and Li Auto Inc (NASDAQ:LI), BYD is seen as undervalued. The company's battery business, which supplies many EV manufacturers and holds 16% of the global EV battery market, has helped maintain profit margins over 18%. DBS Bank and Livy Investment Research have bullish outlooks for BYD, citing strong vehicle sales, a net cash balance of $8.4 billion, partnerships with companies like Apple Inc (NASDAQ:APPL), and a solid overseas market strategy.

Portfolio Pulse from Daniel Harrison

October 16, 2023 | 2:09 pm

BLK

Bitcoin spiked on unverified reports of the approval of an iShares Bitcoin ETF, which BlackRock, the owner of iShares, has denied. The company's Bitcoin ETF application is still under review. Bitcoin had spiked by as much as 9.5% after the report but gave back gains. It is up 3.3% at $28,062 at the time of publication.

Portfolio Pulse from Mohit Manghnani

October 16, 2023 | 2:08 pm

ALDX

BIOC

LQR

MNTS

OMER

PCTI

U.S. stocks traded higher with the Dow Jones index gaining over 200 points. The NY Empire State Manufacturing Index declined to -4.6 in October. LQR House Inc. shares rose 76% after announcing its product is now available at Costco. PCTEL, Inc. shares rose 47% after Amphenol Corp agreed to acquire it. Momentus Inc. shares rose 32%. Aldeyra Therapeutics shares dropped 60% after FDA feedback on their new drug application. Biocept, Inc. shares dropped 58% after the CEO's resignation and filing for bankruptcy. Omeros Corporation shares fell 47% after discontinuing a trial.

Portfolio Pulse from Lisa Levin

October 16, 2023 | 2:08 pm

ALDX

Aldeyra Therapeutics' shares were halted on a circuit breaker after a significant drop of 57.6%.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:06 pm

MNTS

Shares of Momentus Inc. (MNTS) have resumed trading.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:05 pm

OSTK

JAT Capital Management LP has reported a 9.1% stake in Overstock.com, according to a 13D filing. The firm believes that Overstock.com securities were undervalued when purchased and represent an attractive long-term investment opportunity.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:05 pm

VRNOF

A lawsuit filed by Verano Holdings Corp. against the Alabama Medical Cannabis Commission (AMCC) has been dismissed by Montgomery County Circuit Court Judge James Anderson. The lawsuit alleged that the AMCC had no right to revoke licenses. Verano had initially secured a license in June, which was later revoked due to 'scoring errors' in the application process. The dismissal of the lawsuit comes ahead of Verano's Class A subordinate voting shares beginning to trade on Canada's Neo Exchange Inc., operating as Cboe Canada, on October 18, 2023. Verano's shares closed 1.4118% higher at $4.31 per share on Friday.

Portfolio Pulse from Jelena Martinovic

October 16, 2023 | 2:04 pm

BTCUSD

Bitcoin's price has slightly increased but is coming down from its highs due to false rumors about the approval of the iShares Bitcoin Spot ETF.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:02 pm

MNTS

Shares of Momentus (MNTS) were halted on a circuit breaker to the downside, but the stock is now up by 14.8%.

Portfolio Pulse from Benzinga Newsdesk

October 16, 2023 | 2:01 pm