News Stocks 

Takeda Pharma’s ADRs to trade on NYSE

“The company’s ADRs, which currently trade over the counter, will trade under the symbol TAK. Takeda will keep its headquarters in Japan and its primary listing on the Tokyo Stock Exchange” writes Claudia Assis for marketwatch.com. Ltd. said late Tuesday its American depositary shares will start trading on the New York Stock Exchange on Dec. 24. Source: marketwatch.com Share This:

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Markets News 

Tencent Music debuts on NYSE with $21.3 billion valuation

“The Chinese music company has priced its shares at $13 a piece for a total of $1.1 billion” reports rainnews.com. Tencent Music also has the noteworthy advantage of already being a profitable company.Both companies are leaders in digital and streaming music, and the pair agreed to a mutual exchange of minority stakes late last year. Source: rainnews.com Share This:

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Markets News Stocks 

Tencent Music pops in market debut, after opening at $14.10

“Tencent Music Entertainment Group popped in its debut on the public markets Wednesday, gaining as much as 13 percent after opening at $14.10 per share” writes Bryan R Smith for cnbc.com. That initial sale gives the company an implied valuation of $21.3 billion.The highly anticipated initial public offering is one of the largest U.S. IPOs by a Chinese company since Alibaba raised over $20 billion in 2014, and comes amid heightened tensions between the Chinese and U.S. governments. Tencent Music initially planned to launch the deal in October, but postponed…

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Crypto Markets News 

Former NYSE CEO to head up crypto code of conduct group

“From exchange hacks to initial-coin-offering scams, the maturation of digital assets has move in fits and starts” writes Aaron Hankin for marketwatch.com. The digital currency market took another step toward shoring up its reputation on Tuesday with the announcement that a group of crypto-related and financial firms have joined forces to create an industry code of conduct.We are aware of current market conditions and believe it’s essential to inculcate a higher standard of integrity,” he said.To date, industry watchdogs have yet to agree on a robust regulatory approach to policing…

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Markets News 

A huge marijuana company that just went public in the US saw its shares slip after a damning industry report. Here’s why cannabis investors aren’t worried.

“The report, released Monday, gave the Canadian cannabis industry a B-rating, or non-investment grade rating” writes Jeremy Berke for businessinsider.com. While cautious in its stance, we are not surprised given the volatile nature of the cannabis sector,” Kideckel wrote in a note.The DBRS report said that there’s much to be determined “regarding consumer reception, competitive behavior, regulation, taxation, and international market potential,” in the cannabis industry.Overall, AltaCorp remains bullish about the cannabis sector, with the caveat that it will experience volatility in the short and medium-term. Source: businessinsider.com Share This:

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News Stocks 

Aurora Cannabis’ stock debuts on the NYSE, falling 9.4% on heavy volume

“Trading volume was 6.7 million shares within the first 25 minutes after the open, enough to make it the fourth-most active stock on the Big Board” writes Reporter Editor for marketwatch.com. The Vancouver-based medical cannabis production and distribution company’s stock was previously listed on the OTC Markets as “ACBFF,” with each share transitioned to the NYSE as of Tuesday.The stock’s selloff comes as the ETFMG Alternative Harvest ETF MJ, -0.82% falls 4.4% and the S&P 500 SPX, -1.05% gives up 1.3% in morning trade. Source: marketwatch.com Share This:

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Crypto Futures News Platforms 

NYSE Parent Company Reveals Launch Date for Bitcoin Futures on Bakkt Platform

“The parent company of the New York Stock Exchange (NYSE), Intercontinental Exchange (ICE), has announced the launch date for Bitcoin (BTC) futures on its platform Bakkt, according to a document released Oct. 22” reports cointelegraph.com. The notice further explains: The announcement is backed by a previous statement in September that the company’s “first contracts will be physically delivered BTC futures contracts versus fiat currencies” against U.S. dollars, pounds sterling, and euro.Bakkt is a platform for trading, storing, and spending digital assets that was established earlier this year by global exchange…

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