Streetbeat News

Stock Prices

BTCUSD

Jim Cramer, host of CNBC's 'Mad Money', has cautioned investors about the new spot Bitcoin ETPs approved by the SEC, echoing JPMorgan CEO Jamie Dimon's 'caveat emptor' stance. He emphasized the need for investors to be well-informed, noting the discrepancy between the funds invested in these ETPs and the rise in Bitcoin's price. Cramer also highlighted SEC Chair Gary Gensler's skepticism and warnings about the risks of crypto assets, despite the SEC's approval of Bitcoin ETPs.

Portfolio Pulse from Mehab Qureshi

January 18, 2024 | 7:25 am

TALO

Talos Energy has priced an upsized underwritten public offering of 30 million shares of common stock, aiming to raise $351 million. The offering is set to close on January 22, 2024. The proceeds are intended to partially fund the acquisition of QuarterNorth Energy Inc. If the acquisition does not occur, the funds will be used for general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 7:18 am

VRDN

Viridian Therapeutics has announced a public offering of 7,142,858 common shares at $21 per share, with an additional option for underwriters to purchase up to 1,071,428 shares. The offering is expected to close on January 22, 2024. The proceeds will be used for clinical development programs, working capital, and general corporate purposes.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 7:14 am

LUXH

LuxUrban Hotels (LUXH) has responded to a short seller report issued on January 17, 2024, which the company claims contains mischaracterizations and speculative allegations. LuxUrban criticizes the report for its lack of understanding of the company's operations and industry, use of unsubstantiated claims, and reliance on outdated information. The company suggests that the report's purpose is to manipulate its stock price for the short seller's gain.

Portfolio Pulse from Benzinga Newsdesk

January 18, 2024 | 7:02 am

LI

NIO

TSLA

China's top auto makers convened in Beijing to discuss the future of the New Energy Vehicle (NEV) market and global expansion. Despite a 5.6% increase in auto sales in 2023, early 2024 shows signs of a slowdown, with companies like Li Auto and Nio offering discounts. Tesla also reduced prices in China, which has been met with disapproval from Beijing. The meeting underscores the importance of NEV growth and international market penetration for China's auto industry.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 6:54 am

GOOG

GOOGL

Google CEO Sundar Pichai has informed employees in a leaked memo that more job cuts are expected in 2024 to invest in big priorities and achieve ambitious goals. The company has already laid off over a thousand employees since January 10, and while the upcoming cuts are not as extensive as the 12,000 job cuts from last year, they will continue to impact various departments, including non-hardware teams.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 6:48 am

BTCUSD

Bitcoin's blockchain recorded its largest transaction of 2024, with $665 million worth of BTC moved in a single hour. Santiment reported that 42,870 BTC were transferred, marking the busiest hour in six months. Additionally, Bitcoin miners sold over 10,000 BTC on January 17, the largest drop in miner reserves in a year, as confirmed by CryptoQuant. This selling activity aligns with the pattern of accumulation and selling by miners, who tend to sell when prices and profitability rise. Bitcoin's price is currently fluctuating between $42,000 and $43,000.

Portfolio Pulse from Mehab Qureshi

January 18, 2024 | 6:46 am

RIVN

Rivian Automotive Inc (NASDAQ:RIVN) has expanded its leasing program to include the R1S SUV, in addition to the R1T electric truck. The R1S can be leased for 36 months at $1,169 per month in select states. The leasing program began with the R1T in November and requires an upfront payment including a $7,000 down payment, first monthly payment, an acquisition fee, and other charges.

Portfolio Pulse from Anan Ashraf

January 18, 2024 | 6:30 am

AAPL

Apple Inc. (AAPL) is set to launch its Vision Pro mixed reality headset in international markets before the WWDC in June 2024, as per analyst Ming-Chi Kuo. The U.S. launch is scheduled for February 2, with pre-orders beginning January 19. The headset, priced at $3,499, faces challenges due to its limited battery life, unwieldy design, and lack of a 'killer app'. Apple is preparing for the U.S. release with a detailed sales strategy, including a 25-minute demo and face scans for fitting.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 6:27 am

AMD

MRVL

NVDA

Bernstein analyst Stacy Rasgon has reiterated his positive outlook on NVIDIA Corp (NASDAQ:NVDA), stating that despite its high valuations, it remains the cheapest investment option in the AI space compared to peers like AMD and MRVL. With a price target of $700, Rasgon highlights NVIDIA's significant revenue growth and its advantageous position following the AI surge driven by OpenAI's ChatGPT. NVIDIA's stock has tripled in the past year, making it the fourth most valuable company in the S&P 500.

Portfolio Pulse from Benzinga Neuro

January 18, 2024 | 6:22 am