Other meme stocks, including CMA (CMA), Bed Bath & Beyond (BBBY) and Beyond Meat (BYND) also roaded higher Thursday. AMC jumped nearly 10%, a much bigger gain than rival movie theater stocks Cinemark (CNK) and IMAX (IMAX). Bed Bath & Beyond was up about 2%. Beyond Meat plunged 20% at the opening bell following weak … Read more
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
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
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
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
The world’s most valuable cryptocurrency was down 5% Monday after plunging again over the weekend. Bitcoin prices have now plummeted nearly 15% in the past week. At a price of just below $32,000, bitcoin is more than 50% below its record high of near $69,000 from late last year and at its lowest point since … Read more
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
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
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
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