Meme stocks are spinning again, and that’s a bad sign for the stock market, according to an investment bank. Maybe so, but if I nitpick, the recent action doesn’t seem particularly memorable. I would characterize it more as a tactical trash rebound. “The return of memes is a red flag,” reads the title of a … Read more
NEW YORK (AP) — Falling crude oil prices and lingering worries about the global economy sank energy stocks’ energy throughout 2023. The sector, which includes oil and gas exploration companies, is emerging from two years of rising oil prices and inflation. Now, the S&P 500 has broken free of the bear market, but the energy … Read more
BlackRock boss Larry Fink has reinforced his bullish stance on cryptocurrency as an investment, saying today that “it’s going to transcend any currency.” The CEO of the world’s largest asset manager said in a Friday interview with CNBC, though he couldn’t speak specifically to Bitcoin because BlackRock had filed an application with the U.S. Securities … Read more
“Big Short” investor Steve Eisman.CNBC “Big Short” investor Steve Eisman said he saw no reason for investors to sell their shares. He said the 2023 stock market rally will continue as long as the US economy remains as strong as it is. “The Fed keeps raising rates; it hasn’t had an impact. Until it has … Read more
Cryptocurrency prices cooled Friday afternoon after Thursday’s big rally on the apparent court victory of Ripple Labs and its XRP token. Bitcoin (BTC), the largest cryptocurrency by market capitalization, fell below $30,000, down more than 5% from a high of around $31,800 at one point on Thursday. Ether (ETH) also slumped after its bullish Thursday … Read more
A trader reacts as he works on the floor of the New York Stock Exchange (NYSE) in New York, United States, March 18, 2020.Lucas Jackson/Reuters Animal spirits have returned to the stock market as investors again pile into high-risk names. Carvana, for example, has soared nearly 700% since the start of the year even as … Read more
(Bloomberg) – The long-awaited widening of the 2023 equity lead is bringing gains to the corners of the market, even unapologetic bulls can view with trepidation. Bloomberg’s Most Read Seaworthy boats and the like are being lifted by the rising tide of stocks, itself part of a multi-asset “everything rally” that was the biggest in … Read more
At Berkshire Hathaway’s 2019 annual meeting in Omaha, Nebraska, billionaires Bill Gates and Warren Buffett took a break from their busy schedules and visited Dairy Queen for lunch. Buffett, a longtime customer and owner of Dairy Queen through the acquisition of Berkshire Hathaway in 1998, wanted to experience the restaurant’s operations firsthand. One thing that … Read more
Pharmaceuticals Acadia (ACAD) dashed Wall Street expectations for the launch quarter of its Rett syndrome treatment and on Friday ACAD stock hit a two-year high. X In its first quarter on the market, Acadia’s Daybue had sales of $21-23 million. Daybue is the only approved treatment for Rett Syndrome, a rare genetic mutation that affects … Read more
