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RIVN

Rivian Automotive Inc (NASDAQ:RIVN) has announced Connect+, a new set of connectivity features for its vehicles, including in-vehicle hotspot, Google Cast, and YouTube. The service will be available later this summer with a two-month free trial, followed by a monthly fee. This comes alongside the launch of Rivian's second-generation R1 vehicles and plans for a cheaper R2 model in 2026.

Portfolio Pulse from Anan Ashraf

June 11, 2024 | 9:26 am

TSLA

A Tesla analyst predicts a potential 5% drop in Tesla's stock price if shareholders vote down Elon Musk's $56 billion pay package. The analyst, Toni Sacconaghi from Bernstein, cites low voter turnout and proxy advisory firms' recommendations as key factors. Despite the potential drop, a failed proposal could boost earnings per share by 10%. Prominent investors like Ron Baron and Cathie Wood support the proposal, while retail investors are also largely in favor.

Portfolio Pulse from Shanthi Rexaline

June 11, 2024 | 9:21 am

BABA

FXI

JD

KWEB

MCHI

PDD

Alibaba Group Holding Ltd (NYSE:BABA) is prioritizing long-term growth over near-term profits, but faces challenges from fierce competition. The company's market share has dropped significantly, and analysts warn that the new strategy may pressure profitability. Despite this, some growth initiatives are showing early signs of success. ETFs like KraneShares CSI China Internet ETF (NYSE:KWEB), iShares MSCI China ETF (NASDAQ:MCHI), and iShares China Large-Cap ETF (NYSE:FXI) offer exposure to China's internet sector and large-cap companies.

Portfolio Pulse from Benzinga Neuro

June 11, 2024 | 9:14 am

QSG

QuantaSing Group Limited (NASDAQ:QSG) has announced a share repurchase program of up to US$20 million of its Class A ordinary shares in the form of American depositary shares (ADSs). The program will commence on June 11, 2024, and will last for twelve months.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 9:13 am

ZK

ZEEKR Intelligent Tech reported a significant increase in vehicle deliveries for Q1 2024, with 33,059 units delivered, marking a 117% year-over-year growth compared to 15,234 units in Q1 2023.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 9:09 am

ETHUSD

LRCUSD

Loopring (LRC), an Ethereum-based cryptocurrency token, experienced a 20% price drop following a $5 million exploit. Despite the decline, analytics firm Santiment suggests that the high level of fear in the market could present a buying opportunity for bold investors.

Portfolio Pulse from Aniket Verma

June 11, 2024 | 8:51 am

GOOGL

Perplexity, an AI-powered search engine backed by Jeff Bezos, criticizes Google's ad-heavy model. CEO Aravind Srinivas highlights decreasing engagement with ads and emphasizes Perplexity's user-centric approach. The company, which has gained significant traction and unicorn status, aims to disrupt the search engine industry and potentially challenge Google.

Portfolio Pulse from Benzinga Neuro

June 11, 2024 | 8:35 am

ARVLF

PTRA

RIDE

Electric vehicle startup Arrival SA (OTC:ARVLF) has declared bankruptcy, joining other EV makers like Lordstown Motors and Proterra. The company filed for bankruptcy on May 16, and the court declared it bankrupt on May 22. Arrival had $43 million in cash but faced a $155.7 million loss in the first half of 2023. The company was delisted from Nasdaq earlier this year due to non-compliance with listing standards.

Portfolio Pulse from Anan Ashraf

June 11, 2024 | 8:24 am

TGAN

Transphorm has unveiled a new 300 W DC-to-DC GaN reference design specifically for battery chargers in 2- and 3-wheeled electric vehicles. This new design highlights the key capabilities of GaN technology in advancing e-mobility applications.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 8:06 am

GME

Keith Gill, known as 'Roaring Kitty,' saw his potential billionaire status slip as GameStop Corp. (NASDAQ:GME) shares fell 12% following disappointing Q1 results and a surprise 75 million share offering. Gill's holdings are now valued at $235.46 million, down from a potential $1 billion if GME had stayed above $65.

Portfolio Pulse from Shanthi Rexaline

June 11, 2024 | 7:59 am