News of the purchase sent shares of Twitter (TWTR) soaring 22% in early trading. Musk did not disclose what he paid for the shares, but his stake was worth $2.9 billion as of the close of trading Friday, and $3.5 billion after the spike early Monday. Musk’s filing did not disclose the purpose of the … Read more
“While our growth this year will not be linear, we are confident our approach supports a profit positive company today and over the long-term, creating value for all stakeholders, our partners, our customers and our shareholders,” Chief Financial Officer Rachel Ruggeri said in a presentation to investors. But that plan was thrown out of the … Read more
About 60% of the $12.8 trillion in global currency reserves are currently held in dollars, giving the US an exorbitant privilege over other countries. And that privilege pays: Because US government debt backed by the dollar is very attractive, interest rates are lower. The US gets to borrow from other countries in its own currency … Read more
Facebook has made a lot of changes since the Covid-19 pandemic. The most important of these is undoubtedly the change in the name of the company. Since October, Facebook is now called Meta Platforms (FB) – Get Meta Platforms Inc. Class A Report. The decision is aimed at two things: trying to put behind the … Read more
(Kitco News) After a stellar first quarter, gold’s April trading started on a sour note as prices dropped $30 on the day amid rising yields. But analysts are keeping a close eye on the 2-year and the 10-year Treasury yields and what the inversion means for gold. The main event Friday was not the highly-anticipated … Read more
The meme darling of the Reddit crowd wants to initiate a stock split, a move that will drastically reduce the cost of one share, the company said late Thursday in a Securities and Exchange Commission filing. To do so, GameStop will have to ask shareholders at its upcoming annual meeting for approval to increase the … Read more
Advanced Micro Devices (AMD) was downgraded by a sell-side firm Thursday and the stock is trading lower on the day. In our last review of AMD back on Jan. 4 we were bullish and wrote that “Traders could go long AMD at current levels. Risk to $132 and consider adding to longs above $165. The … Read more
Apple Inc. has increasing ambitions in financial technology as it explores ways to participate in the financial-services industry more directly, according to a Wednesday report. The company is developing payment-processing technology and tools that could support future ambitions, according to Bloomberg News. Eventually, Apple AAPL, -0.66% could come to depend less on the partners that … Read more
(Kitco News) Recession signals were front and center as a key section of the US yield curve inverted and the gold market retreated back to below the $1,920 an ounce level. Markets also digested Russia promising to reduce its attacks on Ukraine and Philadelphia Fed President Patrick Harker stating recession in the US can be … Read more
At 7 am, it can be the time for a morning coffee while 8 pm can be time to have supper, watch your favorite television shows, or even enjoy a glass of wine. If you have a Robinhood account, it’s also becoming a time to play the stock market during extended trading hours — but … Read more