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CLSK

MARA

MSTR

RIOT

Bitcoin mining stocks including Marathon Digital Holdings Inc (MARA), Riot Platforms Inc (RIOT), and CleanSpark Inc (CLSK) are trading lower amid a drop in bitcoin prices and following poor financial results from MicroStrategy Inc (MSTR). Bitcoin's price fell about 2.22%, affecting demand for bitcoin ETFs and mining stocks. MicroStrategy reported a 5% year-over-year revenue decline and a quarterly loss, impacting sentiment. Upcoming earnings reports from MARA, RIOT, and CLSK are also in focus.

Portfolio Pulse from Adam Eckert

April 30, 2024 | 1:25 pm

SMSI

Smith Micro Software, Inc. (SMSI) has regained compliance with Nasdaq's minimum bid price requirement for continued listing on The Nasdaq Capital Market, after its stock price closed at or above $1.00 for 12 consecutive business days from April 11, 2024, to April 26, 2024.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:25 pm

MSTR

MicroStrategy Inc (NASDAQ:MSTR) reported Q1 financial results below expectations, with a 5% year-over-year revenue decline to $115.2 million, missing estimates. The company also reported a significant quarterly loss and a decrease in various revenue streams. Despite this, MicroStrategy continued its Bitcoin investment strategy, purchasing 25,250 Bitcoin, bringing its total holdings to 214,400 Bitcoin. Following the report, Canaccord Genuity maintained a Buy rating on MSTR but lowered the price target from $1,810 to $1,590. MSTR shares dropped 6.88% to $1,204.00.

Portfolio Pulse from Adam Eckert

April 30, 2024 | 1:25 pm

AGBA

AGBA Group Holding Limited's stock price has increased following the announcement of its plans to proceed with the previously-announced merger with Triller.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:23 pm

AUUD

Auddia's stock price increased following the announcement of a product expansion offering. This development indicates a positive market response to the company's growth strategy and potential for increased revenue streams.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:20 pm

NRXP

NRx Pharmaceuticals shares dropped following the announcement of results from its Phase 2b/3 trial of NRX-101 vs. Lurasidone, indicating potentially disappointing outcomes or market reactions.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:19 pm

GMM

Global Mofy Metaverse (GMM) shares are up following the announcement of its Gauss AI division partnering with Heartdub to create the Gausspeed generative AI platform.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:18 pm

AKLI

Akili's stock price increased following the announcement that Shionogi has forgiven a $5.0 million long-term debt and agreed to make payments for SDT-001.

Portfolio Pulse from Benzinga Newsdesk

April 30, 2024 | 1:17 pm

EAF

EXFY

RVP

Insiders are buying shares of GrafTech International, Expensify, and Retractable Technologies, indicating confidence in these companies. GrafTech reported strong Q1 results, Expensify is set to announce Q1 results, and Retractable Technologies has already reported its results for 2023.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 1:17 pm

FFIV

F5, Inc. (NASDAQ:FFIV) reported Q2 earnings above market estimates but provided a weaker than expected forecast for Q3, leading to price target cuts by Piper Sandler and Barclays. Despite the cautious outlook, F5's shares slightly rose by 0.1%.

Portfolio Pulse from Avi Kapoor

April 30, 2024 | 1:17 pm