Just Another Manic Monday? On Monday, the Nasdaq plunged over 3%. With the S&P 500 dropping a similar amount and the Dow plummeting over 1,000 points (a 2.6% drop), it was the biggest one-day drop since September 2022. Still, Japan’s Nikkei experienced a far more severe decline, plummeting by a staggering 12%; its worst downfall since the infamous Black Monday ...
The S&P 500 faced its worst session in nearly two years on Friday, spurred by recession fears following a surprisingly weak jobs report for July. The broad-market index fell by 1.8%, the Nasdaq Composite dropped by 2.2%, and the Dow Jones Industrial Average decreased by 729 points, or 1.8%. The sharp decline highlights growing economic concerns as investors brace for ...
On August 1, 2024, Cathie Wood’s ARK Invest executed a substantial $21 million purchase of the 3iQ Ether Staking ETF (ETHQ.U), while simultaneously offloading $14.6 million worth of Coinbase (Nasdaq: COIN). These transactions signal a strategic realignment in ARK’s crypto-related investments. The purchase of 1.7 million shares of the 3iQ Ether Staking ETF, worth $21 million, marks ARK’s inaugural investment ...
The US Department of Justice (DoJ) has launched an investigation into Nvidia’s acquisition of the Israeli artificial intelligence startup Run:ai (Run), probing potential antitrust violations. The inquiry highlights growing concerns over Nvidia’s market dominance and the competitive implications of its strategic moves in the AI sector. Competitive concerns and market impact Nvidia announced its acquisition of Run in April, with ...
Chevron Corp (NYSE: CVX) has announced plans to move its headquarters from California to Texas, a strategic relocation that aligns with the company’s response to the evolving political landscape. This move comes as Vice President Kamala Harris’ prospects in the upcoming November elections appear increasingly robust. The decision to shift headquarters reflects broader political tensions. While former President Donald Trump ...
Revolut, Europe’s most valuable startup, has informed its staff of an upcoming sale of up to $500 million worth of existing shares. The sale, which values the company at $45 billion, will allow eligible employees to sell a portion of their vested share options. This move marks a significant milestone for Revolut, reinforcing its position in the fintech industry. Share ...
Elliott Management, a Florida-based hedge fund managing approximately $70 billion in assets, has issued a stark warning to its investors regarding Nvidia, asserting that the chipmaking giant’s stock is caught in a “bubble” driven by exaggerated expectations surrounding artificial intelligence (AI). The firm conveyed this message in a recent letter to clients, a copy of which was obtained by the ...
VSee Health Inc (NASDAQ: VSEE) saw its stock nearly triple on Friday, fueled by an exciting new partnership with Ava Robotics. This collaboration aims to enhance intensive care units (ICUs) by integrating VSee’s telehealth technology into Ava’s robotic systems, allowing for remote, personalized patient care. The newly announced partnership will see VSee’s software embedded into Ava robots, significantly enhancing telehealth ...
ExxonMobil and Chevron, the largest oil and gas companies in the US by market capitalization, reported their Q2 earnings on Friday, highlighting divergent strategies and outcomes in a challenging market. While both companies faced pressure from declining refining margins, Exxon managed to weather the storm more effectively than Chevron, showcasing its robust strategic adjustments and operational efficiencies. Exxon Mobil’s strong ...
Intel Corp (NASDAQ: INTC) has been striving to establish itself as a significant player in the artificial intelligence (AI) sector. However, Eric Ross, Chief Investment Strategist at Cascend Securities, warns that Intel is not truly an AI stock. Ross criticizes Intel for lagging in process technology advancements over the past decade, which has contributed to the company’s disappointing earnings for ...