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WISA

WiSA Technologies has received a notification from Nasdaq stating that the company is not in compliance with the minimum bid price requirement for continued listing, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:36 pm

RYAM

Rayonier Advanced Materials Inc. (NYSE:RYAM) has announced that it will temporarily idle its Témiscaming Paperboard operation and one of its High-Yield Pulp lines for 3 weeks starting October 7, 2023. The decision is aimed at optimizing inventory levels and addressing lower-than-expected demand. The company assures that customer orders will not be affected.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:33 pm

FRZA

Forza X1 Inc has received a notice of delisting or failure to satisfy a continued listing rule or standard from Nasdaq, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:20 pm

SVVC

Firsthand Technology Value Fund, Inc. (NASDAQ:SVVC) has announced its decision to voluntarily delist its common stock from the Nasdaq Global Market, with the delisting expected to become effective on or about October 26, 2023. The decision comes after the Fund received notices from Nasdaq for non-compliance with minimum bid price and market value requirements. The Fund's board believes delisting will lower operating costs and management time commitment for compliance activities. The Fund plans to have its common stock quoted on the OTCQB or another OTC market.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:17 pm

HOOD

TSLA

Venture capitalist Tim Draper, known for his early investments in tech companies, expressed regret for selling his stake in Tesla Inc (NASDAQ:TSLA) too early. Draper invested in Tesla's Series C funding round in 2006, four months before the company went public. He sold his stake under pressure from his investors to take profits. Had he held on to his Tesla investment, the return would have been 4000X. Draper's biggest win so far has been Robinhood Markets (NASDAQ:HOOD) with a 1000x return.

Portfolio Pulse from Chris Katje

October 06, 2023 | 8:16 pm

GOOG

GOOGL

LLY

META

NEE

NVDA

NVO

PEP

PXD

QQQ

SPY

TLT

XLC

XLK

XLV

XOM

ZROZ

The US Congress averted a government shutdown by passing a stopgap funding bill. Treasury yields surged, with the 10-year yield reaching its highest level in 16 years. This has led to a significant loss in value for funds and ETFs investing in long-dated Treasury bonds. The September jobs report exceeded expectations, indicating a strong labor market and increasing the risk of further Federal Reserve tightening. Walmart reported a decrease in food demand due to the use of weight-loss drugs. Exxon Mobil is considering acquiring Pioneer Natural Resources. The S&P 500 and Nasdaq 100 rebounded from weeks of declines. Several sectors and mega-cap stocks displayed strength this week.

Portfolio Pulse from Piero Cingari

October 06, 2023 | 8:14 pm

MRAI

Marpai Inc has received a notification letter from Nasdaq indicating that the company did not satisfy the requirement for continued listing, according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:08 pm

NIU

Niu Technologies (NASDAQ:NIU) reported Q3 2023 sales volume of 265,923 units, including e-motorcycles, e-mopeds, e-bicycles, kick-scooters, and e-bikes. This is a decrease compared to the previous year due to a slowdown in consumer activity in China. However, new products contributed to approximately 80% of total sales in Q3. The company also reported consistent quarter-on-quarter growth in the overseas micro-mobility market, particularly in Europe and the United States.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:07 pm

ADXN

Addex Therapeutics (NASDAQ:ADXN) plans to change its American Depositary Shares (ADSs) to ordinary shares ratio from 1:6 to 1:120, effective around October 23, 2023. This change is equivalent to a 1 for 20 reverse ADS split, aimed at regaining compliance with the Nasdaq minimum bid price requirement. The company's ADSs will continue to be traded on the Nasdaq Capital Market under the ticker symbol 'ADXN'. The change is expected to proportionally increase the company's ADS trading price.

Portfolio Pulse from Benzinga Newsdesk

October 06, 2023 | 8:02 pm

FTXG

HSY

NVO

PEP

WMT

Food and beverage stocks have experienced significant declines, with the First Trust Nasdaq Food & Beverage ETF (FTXG) falling over 5% this week. This is attributed to concerns over weight-loss drugs like Ozempic and Wegovy, manufactured by Novo Nordisk (NVO), which could alter consumption patterns and reduce demand for high-calorie foods and beverages. Walmart (WMT) reported a decline in shopping demand due to these drugs. Bank of America analysts suggest that the highest risk of reduced consumption pertains to alcohol, snacking, non-alcoholic beverages, and weight management products. Several food stocks, including The Hershey Company (HSY), PepsiCo (PEP), and The Coca-Cola Company (KO), are trading lower this week.

Portfolio Pulse from Piero Cingari

October 06, 2023 | 8:01 pm