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MULN

Mullen Automotive (NASDAQ:MULN) announced that its 2024 Mullen THREE electric truck has been approved for a $15,000 state rebate in Massachusetts, in addition to a $7,500 federal tax credit. The company also added Eco Auto as a new franchise dealer in the Boston area, which has placed an initial order for Mullen's commercial EVs. Despite these positive developments, MULN shares are trading lower by 2.83% to $2.75.

Portfolio Pulse from Nabaparna Bhattacharya

June 11, 2024 | 3:59 pm

Cruise has resumed operations in Houston, starting with human-driven vehicles and planning to transition to supervised autonomous driving with safety drivers in the coming weeks.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 3:57 pm

DOGEUSD

FLOKIUSD

GME

PEPEUSD

SHIBUSD

Meme coins, including Dogecoin, Shiba Inu, and Pepe, have experienced significant declines following a market-wide downturn led by Bitcoin. The market capitalization of meme coins dropped by 7.5% in the past 24 hours. GameStop's cryptocurrency also saw a 14% decline.

Portfolio Pulse from Khyathi Dalal

June 11, 2024 | 3:56 pm

MIND

MIND Technology shares are trading lower after the company reported worse-than-expected Q1 sales results.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 3:56 pm

REBN

Reborn Coffee shares are trading higher following the announcement of its first flagship store opening in the Historic Art Museum Building in Guangzhou, China.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 3:55 pm

BNED

Barnes & Noble Education Inc (BNED) shares dropped by 29.6% to $0.09 after announcing equity and refinancing transactions, new leadership changes, and a 1-for-100 reverse stock split. The company raised over $100 million in new equity, converted $34 million in debt to shares, and extended a $325 million loan facility. The reverse split aims to meet NYSE's minimum bid price requirement.

Portfolio Pulse from Henry Khederian

June 11, 2024 | 3:55 pm

LAD

RFV

XMVM

Lithia Motors, Inc. (NYSE:LAD) is expanding its presence in the U.S. Southeast Region through acquisitions expected to generate over $240 million in annualized revenue. The company has purchased several stores, including Sunrise Chevrolet Buick GMC and Sunrise Buick GMC in Memphis, Tennessee, and Woodbridge Hyundai in Greater Toronto. These acquisitions bring the company's total expected annualized revenue from acquisitions to over $5.6 billion. Additionally, Lithia Motors has increased its share repurchase authorization by $350 million, bringing the total to $660 million. LAD shares are currently down 1.15%. Investors can also gain exposure to the stock via Invesco S&P Midcap 400 Pure Value ETF (NYSE:RFV) and Invesco S&P MidCap Value With Momentum ETF (NYSE:XMVM).

Portfolio Pulse from Lekha Gupta

June 11, 2024 | 3:49 pm

NVDA

TSM

The US is considering imposing additional restrictions on China's access to advanced AI chips, specifically targeting 'Gate All-Around' technology and high-bandwidth memory. This move could impact companies involved in the production and supply of these technologies.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 3:45 pm

General Motors (GM) has reduced its expected sales of electric vehicles (EVs) for this year due to slower-than-expected adoption in the U.S. The company now anticipates selling 100,000-150,000 EVs, down from the previously announced range of 200,000-300,000.

Portfolio Pulse from Benzinga Newsdesk

June 11, 2024 | 3:45 pm

AAPL

AMZN

SHOP

WMT

JP Morgan analyst Reginald Smith initiated coverage on Shopify Inc (NYSE:SHOP) with an Overweight rating and a price target of $74, citing its competitive moat and growth potential. Smith highlighted Shopify's product breadth, ease of use, and scale as key advantages, projecting 18% compounded revenue growth through fiscal 2026. The recent pullback in Shopify's stock creates an attractive entry opportunity for new investors.

Portfolio Pulse from Anusuya Lahiri

June 11, 2024 | 3:44 pm