In recent months, China’s accelerated reduction of its holdings in U.S. Treasurys has raised eyebrows and ignited speculations about potential repercussions for the U.S. economy, with some analysts expressing concerns about the possible impact on the stock market. As of August, China’s stockpile of U.S. government debt reached its lowest level in 14 years, marking … Read more
In a significant turn of events, the iShares Semiconductor ETF (SOXX) has experienced a notable surge, climbing from $470 to $550 within the span of just one month. This unexpected upswing has resulted in substantial losses for renowned investor Michael Burry, who had previously taken a bearish stance on semiconductor stocks. Recent data reveals that … Read more
In a recent event that sent shockwaves across the tech and business spheres, Elon Musk, the outspoken entrepreneur behind Tesla and SpaceX, unleashed a profanity-laced tirade against advertisers abandoning the platform formerly known as Twitter, X. Musk’s impassioned outburst, laden with expletives, served as a stark warning, indicating potential peril for the social media giant … Read more
“Sam Bankman-Fried, the former billionaire in the crypto world, is adapting swiftly to the economic dynamics within New York’s Metropolitan Detention Center as he awaits sentencing on several felony charges including wire fraud and money laundering conspiracy related to his crypto exchange FTX. Engaging actively within the facility, Bankman-Fried has been utilizing food items to … Read more
Nvidia (NVDA) unveiled its third-quarter earnings post-market on Tuesday, surpassing Wall Street’s projections and maintaining the spotlight on artificial intelligence as a prime focus for investors. Earnings stood at $4.02 per share with revenue hitting $18.12 billion, outperforming analyst forecasts. Bloomberg data had anticipated earnings at $3.36 per share with revenue around $16.1 billion. Projections … Read more
In the last quarter, Michael Burry shifted his investment strategy by exiting his positions against the S&P 500 and Nasdaq 100, only to initiate a new play targeting semiconductor stocks, as per his latest portfolio update released on Tuesday. During the second quarter, Burry’s Scion Asset Management had acquired bearish put options on the SPDR … Read more
Amazon.com announced on Monday that it is enabling Snapchat users in the United States to make direct purchases within the app, a strategic move by the e-commerce giant to leverage the increasing trend of social media as a shopping platform. As social networks continue to shape consumer shopping habits, various platforms, including TikTok, are venturing … Read more
Michael Burry’s notable bearish bet against the stock market, which first made headlines in August, has been a rollercoaster for investors. At the beginning, his position was met with skepticism during the AI-driven summer market rally. However, it gained credibility as the S&P 500 experienced a sharp decline in late October. Recent developments, particularly the … Read more
In the rollercoaster world of AMC Entertainment, the latest earnings report triggered a jaw-dropping 20% drop in stock prices, leaving investors scrambling for answers. Despite a seemingly impressive Q3 showing a 45% YoY revenue surge to $1.4 billion and a profit of $12.3 million, AMC’s stock took a nosedive. So, what went wrong? The bombshell … Read more
In a shocking turn of events, Unity Software (NYSE:U) sent shockwaves through the market as its shares plummeted nearly 15% in the pre-market session today. The revelation of a massive $1 billion sale of 2% convertible senior notes due 2027 has left investors questioning the future of the renowned game-engine maker. The Deal Details: Unity … Read more