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YCBD

cbdMD, Inc. (YCBD) reported a 27% year-over-year decrease in Q4 net sales to $5.7 million, with a net loss narrowing by 67% YoY. Fiscal 2023 total net sales were $24.2 million, down from $35.4 million. The company launched into 160 Sprouts Markets and introduced new brands hempMD and ATRx. YCBD shares traded 7.11% higher at $0.7333 in pre-market on Tuesday.

Portfolio Pulse from Jelena Martinovic

December 26, 2023 | 11:05 pm

TREE

Trees Corporation (CBOE: TREE), a Toronto-based cannabis company, has received creditor protection under the CCAA from the Ontario Superior Court of Justice. The protection includes its subsidiaries and appoints Ernst & Young Inc. as the monitor. The company is pursuing additional financing and strategic options, including a failed business combination agreement with 420 Investments Ltd. Cboe Canada is expected to review TREE for potential delisting. Meanwhile, Benzinga PotProfits highlights the potential growth in cannabis stocks, with Michael Berger identifying promising stocks.

Portfolio Pulse from Jelena Martinovic

December 26, 2023 | 11:00 pm

BTCUSD

ETHUSD

Ark Invest CEO Cathie Wood, in collaboration with 21Shares, is optimistic about the SEC approving a Spot Bitcoin ETF by January 10, 2024. In an interview, she praised 21Shares for its successful crypto ETPs and discussed the potential for institutional diversification into crypto. Wood believes Bitcoin will continue to gain as a hedge against inflation and deflation, and could be treated like physical gold within five years. She also mentioned Bitcoin's potential as legal tender in emerging economies, citing El Salvador's support.

Portfolio Pulse from Khyathi Dalal

December 26, 2023 | 10:53 pm

ADBE

Adobe CEO Narayen Shantanu sold 32,000 shares of Adobe stock at an average price of $598.28 per share, according to a recent Form 4 filing with the SEC.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 10:51 pm

PROC

Procaps Group (PROC) exceeded Q3 earnings and sales estimates with EPS at $0.08, beating the $0.05 forecast, and sales reaching $118.41M, surpassing the $110.40M estimate. However, this EPS represents a 63.64% decrease from the same quarter last year, while sales saw a 7.25% increase from the previous year.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 10:31 pm

VLCN

Volcon received a deficiency letter from Nasdaq on Dec 19, indicating that the company does not meet the minimum bid price requirement as per Nasdaq Listing Rule 5550(a)(2), according to an SEC filing.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 10:27 pm

SVM

Silvercorp Metals Inc. (NYSE:SVM) has offered to acquire all shares of OreCorp Limited (ASX: ORR) that it does not already own for A$0.19 cash plus 0.0967 Silvercorp shares per OreCorp share. The implied value of A$0.5891 per OreCorp share represents a significant premium over recent VWAPs. The OreCorp Board unanimously recommends acceptance of the offer, which is subject to minimal conditions, including a 50.1% minimum acceptance. The transaction aims to create a globally diversified precious metals producer and is not subject to Silvercorp shareholder approval or financing conditions. Silvercorp and OreCorp have terminated their previous Scheme Implementation Deed and will provide further details in their respective Bidder's and Target's Statements.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 10:13 pm

RPHM

Reneo Pharmaceuticals Inc. received a non-binding acquisition proposal from Concentra Biosciences, an affiliate of Tang Capital Partners, to purchase all equity of Reneo for $1.80 per share plus a contingent value right. The offer is contingent on Reneo having at least $75 million in cash and equivalents at closing, after liabilities and costs. Concentra aims to maximize value for Reneo shareholders and manage clinical studies. They have set a response deadline for January 5, 2024.

Portfolio Pulse from Benzinga Newsdesk

December 26, 2023 | 10:09 pm

GBTC

Barry Silbert resigned as Chairman of Grayscale Bitcoin Trust (GBTC) amid unresolved allegations against his Digital Currency Group (DCG) and an ongoing SEC investigation. Lumida Wealth CEO Ram Ahluwalia suggested that Silbert's departure could grant Grayscale more autonomy, potentially improving its chances of obtaining Bitcoin ETF approval. The SEC has informally indicated the strength of an application, and Ahluwalia compared DCG's situation to Enron's accounting scandal.

Portfolio Pulse from Khyathi Dalal

December 26, 2023 | 9:50 pm

VFS

VinFast Auto Ltd. (NASDAQ:VFS) shares rose after announcing it will showcase its latest electric vehicle concept and the mini eSUV VF 3 at CES 2024. The company will also reintroduce its DrgnFly electric bikes, first shown at CES 2023. The presence at CES 2024 underscores VinFast's commitment to sustainable transportation and innovation. CES 2024 will occur from Jan. 9 to Jan. 12 in Las Vegas. VFS shares closed up 4.88% at $8.38.

Portfolio Pulse from Ryan Gustafson

December 26, 2023 | 9:37 pm