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Maryland and Rhode Island saw record cannabis sales in December, with Maryland reaching $96.5 million and Rhode Island over $107.8 million for the year. Recreational cannabis dominated sales in Maryland, while both states saw high demand for edibles, prerolls, vape carts, and prepackaged flower. Curaleaf Holdings, Green Thumb Industries, Verano Holdings, and Cresco Labs are among the companies that transitioned to adult-use shops in Maryland. Experts suggest cannabis stocks are now poised for growth, with significant gains already seen in some stocks.

Portfolio Pulse from Jelena Martinovic

January 17, 2024 | 6:20 pm

ACIC

CART

MIMO

TSP

Airspan Networks Holdings Inc. (MIMO) shares surged over 380% after announcing a partnership with GCT Semiconductor to develop an RF module. Other stocks experienced significant movement in Wednesday's mid-day session, with notable gainers including Treasure Global Inc. (TGL), LQR House Inc. (LQR), and ProQR Therapeutics N.V. (PRQR), among others. Losers included TuSimple Holdings Inc. (TSP), Phunware, Inc. (PHUN), and Adagene Inc. (ADAG). The session also saw various analyst ratings and price target changes affecting stocks like American Coastal Insurance Corporation (ACIC) and Maplebear Inc. (CART).

Portfolio Pulse from Avi Kapoor

January 17, 2024 | 6:12 pm

LUXH

Bleecker Street Research has issued a critical report on LuxUrban Hotels (LUXH), highlighting numerous red flags. LuxUrban, a hotel lessee and operator, pivoted from corporate rentals to leasing hotels post-pandemic. Despite rapid growth and a partnership with Wyndham Hotels, LuxUrban faces issues such as lawsuits for unpaid rent, poor business practices, and questionable financial disclosures. The company's financial stability is in doubt with growing receivables and limited cash. Bleecker Street Research is shorting LUXH shares, questioning the company's revenue quality and economic consistency.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 6:08 pm

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GILD

On CNBC's Halftime Report, the final trades segment featured recommendations for Verizon Communications, AbbVie, and Gilead Sciences. These companies were highlighted as potential investment opportunities, though specific details of the discussion, such as the rationale behind the picks or the expected performance, were not provided in the article.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 6:01 pm

BILI

Bilibili (NASDAQ:BILI) received mixed analyst ratings in the latest quarter, with 5 analysts providing evaluations. The average 12-month price target is $15.16, a 29.42% decrease from the previous $21.48. All five analysts lowered their price targets, reflecting changes in market conditions and company performance. Bilibili is a Chinese online entertainment platform with revenue growth of 0.2% as of September 30, 2023, but below the Communication Services sector average. The company has a high net margin of -23.28% and an ROE of -8.45%, indicating strong financial health despite its smaller market capitalization.

Portfolio Pulse from Benzinga Insights

January 17, 2024 | 6:01 pm

QCOM

Qualcomm Technologies, Inc, a subsidiary of Qualcomm Inc (NASDAQ:QCOM), announced that its Snapdragon 8 Gen 3 Mobile Platform will power Samsung Electronics Co Ltd's new Galaxy S24 series smartphones. The Galaxy S24 Ultra will feature the chipset globally, while the Galaxy S24 Plus and S24 will include it in select regions. The Snapdragon 8 Gen 3 for Galaxy is designed to enhance AI capabilities, camera and gaming experiences, connectivity, and security with Qualcomm's 3D Sonic Gen 2 technology. Despite the announcement, QCOM shares dropped by 1.92% to $138.42.

Portfolio Pulse from Anusuya Lahiri

January 17, 2024 | 6:00 pm

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JPM

JPMorgan Chase CEO Jamie Dimon expressed skepticism about Bitcoin, criticizing it for its alleged use in illicit activities and questioning the cryptocurrency's supply limit. He acknowledged the potential of blockchain and cryptocurrencies with use cases, particularly those involving smart contracts and tokenization. Dimon's views contrast with other financial leaders like BlackRock CEO Larry Fink, who supports the tokenization of financial assets. The Bitcoin community responded to Dimon's comments, defending Bitcoin's value proposition of absolute scarcity.

Portfolio Pulse from Khyathi Dalal

January 17, 2024 | 5:59 pm

HALO

Halozyme Therapeutics released an investor presentation forecasting FY23 EPS of $2.77-$2.80, slightly above the $2.74 estimate. However, revenue projections of $827M-$832M fall short of the expected $835.69M. For FY24, the company anticipates EPS of $3.55-$3.90, which brackets the $3.69 estimate, but revenue forecasts of $915M-$985M are below the $1.1B estimate.

Portfolio Pulse from Benzinga Newsdesk

January 17, 2024 | 5:56 pm

NTES

NetEase Inc (NASDAQ:NTES) shares dropped 1.6% to $139.14 due to broader market concerns after China missed GDP and retail sales estimates. Despite China's Premier Li Qiang expressing confidence at the World Economic Forum, the market reacted negatively to the economic data. NetEase's 52-week range is between $76.85 and $118.90.

Portfolio Pulse from Henry Khederian

January 17, 2024 | 5:48 pm

JBLU

SAVE

Spirit Airlines, Inc. (NYSE:SAVE) stock is trading lower due to a federal judge blocking its acquisition by JetBlue Airways Corporation (NASDAQ:JBLU). The $3.8 billion deal was halted as it was deemed harmful to consumers relying on Spirit's low-price model. President Biden supported the ruling, emphasizing the importance of competition. Spirit's shares dropped over 60% since the block, while JetBlue's shares fell 8.5%.

Portfolio Pulse from Erica Kollmann

January 17, 2024 | 5:48 pm