SoftBank reports record $27.5 billion loss on crashing tech stocks

SoftBank reports record $27.5 billion loss on crashing tech stocks

The world’s biggest tech investor said Thursday that its Vision Funds had recorded a loss of 3.5 trillion yen ($27.5 billion) in the year ended March. That was a significant reversal from the unit’s performance from last year, when it had logged a healthy profit. At an earnings presentation in Tokyo, CEO Masayoshi Son acknowledged … Read more

Coinbase stock plunges again after company reports dismal results

Popular Super Bowl ad crashes system

The cryptocurrency brokerage reported a first-quarter loss late Tuesday and revenue that fell 27% from a year ago, missing Wall Street’s forecasts. Coinbase shares plummeted more than 25% Wednesday and hit their lowest level ever. Coinbase stock is now down more than 75% this year and is trading nearly 85% below its all-time high price … Read more

Investors haven’t begun to price in recession — Here’s how far the S&P 500 could fall

Investors haven't begun to price in recession --- Here's how far the S&P 500 could fall

The battered S&P 500 index is not pricing in a recession, according to DataTrek Research. “At 4,000, the recession odds imbedded in S&P are close to zero,” said DataTrek co-founder Nicholas Colas in a note emailed Tuesday. “By our math, 50:50 odds of a recession equate to an S&P at 3,525.” The S&P 500 SPX, … Read more

Peloton is burning through cash and borrowing like crazy to stay afloat

A brief look back at Peloton's bumpy ride

The once-hot company reported a dismal quarterly financial report Tuesday, with sales tumbling 15% from a year ago. Platoon lost $757 million last quarter. Platoon (PTON) said it had just $879 million in cash in the bank at the end of the quarter, which has left it “thinly capitalized,” CEO Barry McCarthy said. That forced … Read more

Elon Musk Fears for His Life After Russian Threats

Elon Musk Fears for His Life After Russian Threats

You’re here (TSLA) – Get Tesla Inc Report CEO Elon Musk has never been afraid to confront his opponents publicly. From his Silicon Valley peers like recently Bill Gates, the co-founder of software giant Microsoft (MSFT) – Get Microsoft Corporation Report, to President Joe Biden, the richest man in the world fears no one. It’s … Read more

Elon Musk Sounds The Alarm About Japan

Elon Musk Has an Original Way to Outshine Warren Buffett

He is charismatic and unpredictable. His personality divides. Some people describe him as the most revolutionary CEO of recent years. Others see in him a CEO who is the mirror of an era dominated by trends that follow one another at the speed of a short video on TikTok. We stick all the labels on … Read more

Should I Sell My Stocks Now?

Should I Sell My Stocks Now?

While the May 5 stock market crash shook a lot of investors, it really just continued a trend. A number of stocks that had delivered tremendous returns during the pandemic have seen their prices fall dramatically over the past year. That’s not a one-day phenomenon. It’s something that has been happening for quite a while. … Read more

Asian markets and currencies are tanking after a rough day on Wall Street

Asian markets and currencies are tanking after a rough day on Wall Street

Hong Kong’s benchmark Hang Seng Index (HSI) tumbled nearly 4% — leading losses in Asian markets, and on track to log its worst daily drop in more than a month. Tech stocks saw a sharp sell-off, with the Hang Seng Tech Index down 5%. Mainland China’s benchmark Shanghai Composite Index (SHCOMP) and its tech-heavy peer … Read more