All posts tagged: Stock

Trump Media stock hits new low after DJT lockup lifts

Trump Media stock hits new low after DJT lockup lifts

Sopa Images | Lightrocket | Getty Images Shares of Trump Media sank Monday to their lowest price since 2021, days after majority owner Donald Trump and other company insiders got the green light to start selling their stakes in the Truth Social operator. The stock, which appears as DJT on the Nasdaq, closed more than 10% lower in a frenzied trading session, settling at $12.15 per share and notching the company’s sixth straight day of declines. Stock Chart IconStock chart icon Trump Media (DJT) Stock Price Trump Media’s share price has fallen nearly 85% since the company surged in its public trading debut in late March. Monday’s decline left the stock at its lowest level since before October 2021, when it was revealed that the blank-check firm Digital World Acquisition Corp. was planning to merge with then-private Trump Media. News of that deal sent shares of DWAC soaring more than 350%. The stock declined in the intervening years, before surging again in the early 2024 in anticipation of the completion of the merger with Trump …

Nvidia Should Be Printing Money Right Now by Selling AI Hardware. Instead, Its Stock Is Falling

Nvidia Should Be Printing Money Right Now by Selling AI Hardware. Instead, Its Stock Is Falling

Its CEO’s net worth dropped about $10 billion in a single day. Bot Drop Earlier this year, AI chipmaker Nvidia was riding high, enjoying a record-breaking valuation of $3.3 trillion. But this summer, investors started asking some tough questions. Shareholders started getting cold feet over AI companies’ sky-high valuations, as CNN reports, with widespread skepticism causing stocks to come crashing back down. As the company selling the shovels for the goldrush, Nvidia should be making money hand over fist. But instead, it wiped a massive $279 billion off its value on Tuesday, a precipitous drop of 9.5 percent in share price. The slump even erased about $10 billion from CEO Jensen Huang’s personal net worth, his biggest single-day drop according to the Bloomberg Billionaires Index. Something’s off, in other words, despite the company’s growing revenue. Is this just the market’s correction to signs of a slowing economy? Are investors becoming wary of major investments in largely unproven tech that’s still far from turning a profit? While it’s still too early to tell if Nvidia’s most recent …

Roblox reports Q1 bookings of 3.8M, up 19%, but stock plunges on weak Q2 outlook

Roblox reports Q1 bookings of $923.8M, up 19%, but stock plunges on weak Q2 outlook

Join gaming leaders live this May 20-21 in Los Angeles to examine the strategies needed to adapt and excel in an ever evolving landscape, featuring insights from leading voices and thought leaders in the industry. Register here. Roblox reported that its first quarter bookings reached $923.8 million, up 19% at a time when much of the game industry has reported weak results. However, the company’s stock price has fallen 27.36% in trading to $28.32 a share this morning due to a weak financial outlook. Based on the midpoint of its guidance, Roblox expects bookings in the second quarter of $885 million, compared to the consensus estimate of $929 million. For the full year, Roblox forecast bookings of $4.05 billion, which missed the expected target of $4.18 billion. The company also saw its daily active users in the quarter hit 77.7 million, up 17% from a year ago. The company reported a net loss of $270.6 million in the quarter, while adjust earnings before interest, taxes, depreciation and amortization (EBITDA) was a loss of $6.9 million, …

Kashkari & Consumer Credit Curtail Stock & Bond Gains

Kashkari & Consumer Credit Curtail Stock & Bond Gains

Another quiet macro day (although an ugly picture was painted late on by the unexpectedly weak revolving credit increase – potentially signaling a US consumer who really has hit their limit). Some FedSpeak wiped a little lipstick off the early pig’s squeeze higher as Kashkari seemed to offer both sides some hope (but it spoiled the fun with the ‘we could hike’ line): “It’s a little too soon to declare that we’re definitely stalled out [on disininflation],” Kashkari says on Bloomberg Television. “The most likely scenario is we sit here for an extended period of time,” he added later at the Milken Institute Global Conference. “If inflation starts to tick back down or we saw some marked weakening in the labor market then that might cause us to cut back on interest rates.” “Or if we get convinced eventually that inflation is embedded or entrenched now at 3% and that we need to go higher [in rates], we would do that if we needed to,” he added. Stocks reversed their gains (leaving only squeezable Small …

Pfizer Stock Hit After Boy Dies Of Cardiac Arrest During Gene Therapy Trial

Pfizer Stock Hit After Boy Dies Of Cardiac Arrest During Gene Therapy Trial

Stock in Pfizer dropped on Tuesday after a young boy receiving experimental gene therapy for Duchenne muscular dystrophy died during the trial. According to STAT News, Pfizer has yet to determine exactly what happened or how the boy died Pfizer has confirmed that the boy suffered cardiac arrest, and is pausing crossing over patients in its randomized phase 3 trial of the treatment in older boys, according to the report. The company will, for now, stop dosing patients who initially received a placebo with the gene therapy after a year. Pfizer is expected to announce data from the study in the upcoming weeks. Of note, in 1999 Jesse Gelsinger was the first person publicly identified as having died during a clinical trial for gene therapy – which caused the FDA to shutter human genetic research at Penn’s Institute for Gene Therapy. Shares in the pharmaceutical giant took an immediate hit on the news. Developing… Loading… Source link

‘Squeezey’ Stock Market Extends Gains; Bonds & Bullion Bid

‘Squeezey’ Stock Market Extends Gains; Bonds & Bullion Bid

More of the same today after last week’s tepid payrolls and dovish Powell with gold, stocks, and bonds bid as rate-cut hopes inched higher. The market is now pricing in two rate-cuts in 2024 and three more cuts in 2025… Source: Bloomberg For now the market appears to prefer the ‘bad news’ from declining growth expectations to the ‘bad news’ from soaring inflation prints… Source: Bloomberg But, hey, for now, as Goldman’s trading desk noted, the market feels “squeezey” and 12% gains for the basket of ‘most shorted’ stocks in the last three days would support that thesis (and overall activity was lower than average)… Source: Bloomberg That helps explain why Small Caps (dominated by the heavily shorted names) outperformed but Mag7 stocks also continued higher today with all the majors green on the day (Dow lagged)… All the majors rallied back above their 50DMAs (but The Dow fell back to test its key technical level)… A mixed picture in bonds today with the short-end underperforming (2Y +1.5bps, 30Y -2bps), but the whole complex sold …

Warren Buffett Sells All Paramount Stock, Takes Huge Loss

Warren Buffett Sells All Paramount Stock, Takes Huge Loss

Warren Buffett‘s two-year dalliance with Paramount Global has come to an end. The famed investor and Berkshire Hathaway CEO says that his company has exited its position in Paramount. Buffett disclosed the news during Berkshire’s annual meeting in Omaha, Nebraska, on Saturday. “We sold it all, and we lost quite a bit of money, that happens in this business too,” Buffett told the crowd, adding that he was the one who decided to buy into the company in the first place (there had been speculation that one of Buffett’s deputies may have initiated the trade). “I did it all by myself, folks.” Berkshire surprised Wall Street when it disclosed a $2.6 billion stake in Paramount in May 2022. Later that year, it added even more shares, ultimately becoming the largest shareholder in the company (or at least its non-voting shares, with Shari Redstone and the Redstone family’s National Amusements controlling a majority of its voting shares). Since then, of course, Paramount has been on a stock downswing, as the exorbitant costs to compete in the …

The Citizen x Star Wars Death Star watch is finally back in stock and on sale for May the 4th

The Citizen x Star Wars Death Star watch is finally back in stock and on sale for May the 4th

We may earn revenue from the products available on this page and participate in affiliate programs. Learn more › Last year, I wrote about Citizen’s surprisingly classy, decidedly awesome Death Star watch. It sold out in two days, and supply has been spotty ever since. Apparently, the Force has blessed us, however, because Amazon has the Death Star model, as well as a ton of other awesome Star Wars collection watches, in stock and even cheaper than they usually are. Citizen Men’s Eco-Drive Star Wars Death Star Black IP Stainless Steel Watch, 3-Hand, Luminous,41mm $318 (was $425) Most fan merch won’t work in a formal or even a work setting, but this Citizen Eco-Drive watch is different. It has a slick black design with a murdered-out bracelet. The 41mm face is substantial without feeling chunky, and it’s emblazoned with a subtle-but-obvious nod to our favorite planet-destroying space station. It’s an Eco-Drive, so it never needs a battery or winding; it just needs a little bit of sunlight to keep the kyber crystals inside excited. More …

Economist Slams Elon Musk for Making Tesla a “Tech-Bubble” Meme Stock

Economist Slams Elon Musk for Making Tesla a “Tech-Bubble” Meme Stock

“Does anyone seriously think that the Musk of today is the right CEO to manage the Tesla we need?” Casino Royale Despite posting disastrous quarterly earnings, Tesla is still worth more than Toyota, Porsche, Mercedes, and Hyundai combined. But experts are becoming wary of the company’s sky-high valuation of well over half a trillion dollars in market capitalization — long a subject of debate — especially now that sales are in freefall and Tesla’s competition is flourishing. Meanwhile, its CEO Elon Musk — who has long made a habit of over-promising — is quickly turning into a “meme-stock carnival barker,” as economic historian and UC Berkeley economics professor J. Bradford DeLong argued in an excoriating new piece for Project Syndicate. In fact, Musk is currently chasing a $55 billion pay package even as he conducts mass layoffs. “From the standpoint of its suppliers, employees, and customers, [Tesla] is a source of income and production,” DeLong wrote. “And from the standpoint of Wall Street speculators, it is a bouncing ball in a roulette wheel: a tech-bubble casino play.” AI …

Apple’s Quarterly IPhone Sales Plunge 10%, but Stock Price Surges on Dividend, Stock Buyback News

Apple’s Quarterly IPhone Sales Plunge 10%, but Stock Price Surges on Dividend, Stock Buyback News

Apple on Thursday disclosed its steepest quarterly decline in iPhone sales since the pandemic’s outset, deepening a slump that’s increasing the pressure on the trendsetting company to spruce up its products with more artificial intelligence. The 10% drop in year-over-year iPhone sales for the January-March period is latest sign of weakness in a product that generates most of Apple’s revenue. It marked the biggest drop in iPhone sales since July-September period in 2020, when production bottlenecks caused by factory closures during the pandemic resulted in a delayed release of that year’s model. The current iPhone downturn was the main reason Apple’s revenue for the latest quarter decreased 4% from last year to $90.8 billion. It marked the fifth consecutive quarter that Apple’s revenue dipped from the previous year. Apple’s profit in the past quarter totaled $23.64 billion, or $1.53 per share, a 2% dip from last year. But both Apple’s revenue and earnings per share came in slightly above analysts projections, according to FactSet Research. Apple also predicted its revenue for the April-June quarter will …