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Insurance company stocks have outperformed the S&P 500 in 2024, with the iShares U.S. Insurance ETF (IAK) rising 5% in January. The surge is attributed to the increasing costs of motor vehicle insurance, which have soared by 20.3% over the past year. The complexity and costliness of repairing high-tech vehicles, especially electric vehicles (EVs), are driving up insurance rates. EVs require more expensive repairs and longer repair times compared to traditional vehicles. The article lists top-performing insurance stocks year-to-date included in the iShares U.S. Insurance ETF.

Portfolio Pulse from Piero Cingari

January 25, 2024 | 6:49 pm

OCUL

Ocular Therapeutix's stock price has risen following the announcement that the FDA has agreed to a Special Protocol Assessment Agreement Modification for its Phase 3 SOL clinical trial of AXPAXLI in wet AMD.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:49 pm

CRLBF

CURLF

GTBIF

Ohio's medical cannabis sales reached a record $484.4 million in 2023, but the growth rate has stagnated to only 1.2% year-over-year. The market has seen declining growth rates since its inception, with revenue increases dropping from 297% in 2020 to just 1% in 2023. Despite selling 39% more plant material and 25% more manufactured products in 2023 than in 2022, the average flower retail price fell by 37%. Companies like Green Thumb Industries Inc. (GTBIF), Curaleaf Holdings Inc. (CURLF), and Cresco Labs Inc. (CRLBF) are preparing for Ohio's upcoming recreational cannabis market, which was legalized in November but has not yet commenced sales.

Portfolio Pulse from Jelena Martinovic

January 25, 2024 | 6:48 pm

IXHL

Incannex Healthcare (NASDAQ:IXHL), a clinical-stage pharmaceutical company, is developing medicinal cannabinoid drugs and psychedelic medicine therapies. The company is opening the first dedicated psychedelic-assisted therapy clinic in Melbourne, Australia, and has recently redomiciled to the U.S. from Australia. Incannex is working with the FDA to achieve authorization for its drugs and has 28 assets under development, with a focus on three main assets. The company's strategy is to provide favorable outcomes for shareholders and make a difference in patients' lives.

Portfolio Pulse from Lara Goldstein

January 25, 2024 | 6:44 pm

CGON

CG Oncology's IPO shares opened at $29 per share, significantly higher than the IPO price of $19 per share on an offering of 20 million shares.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:40 pm

YIBO

Shares of Planet Image International were halted due to a circuit breaker being triggered as the stock moved to the downside. This indicates a significant drop in share price, leading to a temporary pause in trading to prevent further immediate decline.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:39 pm

YIBO

Planet Image International has opened its shares for trade in an Initial Public Offering (IPO). The article may also mention YIBO, but no specific details about its involvement or impact on the IPO were provided.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:39 pm

CGON

CG Oncology's shares have commenced trading on the stock market.

Portfolio Pulse from Benzinga Newsdesk

January 25, 2024 | 6:37 pm

NFLX

Netflix (NASDAQ:NFLX) has significantly outperformed the market with an average annual return of 26.38% over the past 20 years. An initial investment of $100 in NFLX stock would now be worth $10,688.55. The company's current market capitalization stands at $241.58 billion.

Portfolio Pulse from Benzinga Insights

January 25, 2024 | 6:36 pm

HITI

High Tide Inc (NASDAQ:HITI) CEO Raj Grover discussed the company's success and expansion plans on Benzinga’s Cannabis Insider podcast. High Tide, with over 160 stores in Canada and $500 million in revenue, aims to expand to 300 stores. The podcast also featured Sanity Group's CEO, Finn Hänsel, who spoke about the potential legalization of cannabis in Germany and its impact on Europe. The U.S. rumors of rescheduling cannabis could influence global legalization. Both CEOs called for international cooperation on cannabis regulation.

Portfolio Pulse from Patricio Liddle

January 25, 2024 | 6:32 pm