Tag Archives: Stocks

Block said it is working with the SEC on how to “explore legal action against Hindenburg Research for the factually inaccurate and misleading report”. American multinational financial technology giant Block Inc (NYSE: SQ) is currently under intense pressure following a damning report from short seller, Hindenburg Research. According to the report, Hindenburg Research accused Block of running a fraudulent operation that takes advantage of the demographics it claims to serve, the unbanked....

Mike McGlone anticipates a Bitcoin Supercycle due to the asset’s raving performance despite economic circumstances. Commodity strategist Mike McGlone believes that a Bitcoin (BTC) Supercycle is on the horizon amid the leading crypto’s 2023 price upswing. According to the Bloomberg Intelligence senior commodity strategist, BTC’s recent performance compared to gold proves his claim. The prominent digital currency has outperformed gold almost tenfold this year and appears set to continue...

According to Geely, it is projecting a total of 1.65 million units for the current fiscal year and it expects its electric vehicle to dominate the mix. Chinese automobile giant Geely Automobile Holdings Ltd (HKG: 0175) has beaten revenue expectations with respect to its revenue for the 2022 financial year. According to the performance report shared by the auto giant, it raked in a revenue of 148 billion yuan ($21.49 billion), up by 45.6% from the year-ago period. The impressive performance...

Virgin Orbit stock is up over 73% in the pre-market while yesterday it closed down almost 15%. Aircraft engineering company Virgin Orbit (NASDAQ: VORB) is about to close a deal with venture capital investor Matthew Brown. Reuters reported the news referring to a term sheet that reveals that the company is nearing an agreement with the investor via a private share placement. Meanwhile, Virgin Orbit is moving toward filing for bankruptcy if it does not secure capital as soon as possible. The...

The Terran Orbital Q4 2022 release revealed revenue increases on a quarter-on-quarter and year-on-year basis. Satellite maker Terran Orbital (NYSE: LLAP) recently posted its Q4 2022 earnings report, revealing an annual revenue increase of $94.2 million. This figure is more than double what Terran Orbital made in 2021. Terran Orbital’s revenue haul for Q4 2022 represented an increase of 130% year-over-year. The company reported that revenue grew from $27.8 million in the third quarter to...

Sweden’s largest pension fund Alecta dumped its First Republic Bank stake at a $728 million loss amid broader US banking losses.  Swedish pension fund Alecta recently offloaded its First Republic Bank (NYSE: FRC) shares following the latter’s massive drawdown. The leading Swedish pension fund was the fifth-largest shareholder at the embattled bank but now appears to have lost faith in First Republic. According to Alecta CEO Magnus Billing, uncertainty regarding the future of First Republic...

GoTo hopes to achieve positive Group adjusted EBITDA1 within the fourth quarter of 2023 while also reaching a full-year 2023 Group adjusted EBITDA1 to be between Rp 5.3 to Rp 4.6 trillion. Investors of Indonesia’s top tech giant GoTo Gojek Tokopedia PT Tbk (IDX: GOTO)are expressing mixed reactions to the recent performance report from the company which shows annual losses for the 2022 Financial Year widened. According to the details shared by the company, it recorded a loss of 40.4...

In an attempt to save First Republic Bank, a number of mainstream banking giants have decided to come to the bank’s aid with a total deposit of $30 billion. The shares of San Francisco-based financial services firm, First Republic Bank (NYSE: FRC) are tumbling in today’s Pre-market after the firm got a downgrade from the top credit rating agency, S&P Global Ratings. As reported by CNBC, the embattled bank was downgraded to B+ from BB+ over the weekend after first downgrading it to junk...

UBS and Credit Suisse both saw their shares spiral after the former agreed to an emergency rescue of the latter.  Shares of Swiss banking giants UBS and Credit Suisse plunged substantially following a takeover of the latter. On Monday morning, UBS secured a 3 billion Swiss franc ($3.2 billion) bailout of its troubled domestic rival amid the global banking crisis. Swiss authorities had assisted in facilitating the “emergency rescue” to preempt a contagion risk to the global banking...

In addition to seeking the grace period from Nasdaq, Astra also mentioned a possessive reverse stock split. Rocket launch startup Astra Space (NASDAQ: ASTR) has drawn a plan to avoid a delisting from the Nasdaq. The stock trading platform gave the small rocket builder a deadline to exceed a share price level of $1 or face removal. This came after Astra’s share remained below $1 for 30 consecutive business days, violating Nasdaq listing rules. At press time, Astra trades at $0.42, having...