The U.S. Securities and Exchange Commission is currently grappling with the decision to approve ether exchange-traded funds, with a verdict expected next week. Ric Edelman, head of the Digital Assets Council of Financial Professionals, believes that the lack of a comprehensive regulatory framework for all cryptocurrencies will likely lead to a delay in approval. Edelman
Global Finance
China recently reported data that indicated slower growth in retail sales, with only a 2.3% increase in April compared to the previous year. This figure fell short of the expected 3.8% increase, signaling a potential slowdown in consumer spending. The pace of growth was also slower than the 3.1% reported in March, which raises concerns
The influx of higher-income consumers at Walmart has been a driving force behind the retailer’s recent success. These affluent shoppers have played a significant role in propelling Walmart to all-time stock highs. However, former Walmart U.S. CEO Bill Simon cautions that maintaining these customers will be a daunting task. According to Simon, the Walmart experience,
Under Armour’s Class A shares slumped by 11% while its Class C stock fell by 9% after issuing lower-than-expected full-year earnings guidance. The company expects earnings to be in the range of 18 to 21 cents, a stark contrast to the 59 cents predicted by analysts. This significant gap in projected earnings has clearly impacted
The Chinese electric car company, Nio, is making waves with the launch of its new, lower-priced brand, Onvo. The first car under this new brand, the L60 SUV, is set to be $4,000 cheaper than Tesla’s comparable Model Y. This move is seen as a strategic step by Nio to capture a larger market share
The highly volatile meme stock trading market took a hit on Wednesday as GameStop and AMC shares experienced a significant decline. GameStop, a brick-and-mortar video game retailer, saw its shares fall by 29%, while AMC, a movie theater chain, dropped by 22%. This sharp decrease came after both stocks had seen impressive gains earlier in
AMC Entertainment recently announced that it had raised approximately $250 million through a new equity offering. This move came amidst the resurgence of meme stocks, fueled by the return of “Roaring Kitty.” The company sold 72.5 million shares in an at-the-market offering initiated on March 28. The shares were priced at an average of $3.45
Klarna, a leading Swedish financial technology company, has reported that nearly 9 out of 10 employees in its workforce are now utilizing generative artificial intelligence tools in their daily work. This represents a significant shift towards incorporating AI technology into various aspects of the company’s operations. In fact, over 87% of Klarna’s employees are currently
In a surprising turn of events, Adam Dodds, the co-founder and CEO of U.K. stock trading service Freetrade, has made the decision to step down from his role and leave the company immediately. This move comes as a shock to many, considering Dodds’ instrumental role in building Freetrade from the ground up alongside his business
GameStop shares experienced a significant surge of over 40% in premarket trading on Monday, following a post by “Roaring Kitty,” the individual credited with triggering the epic short squeeze of 2021. Keith Gill, also known as DeepF——Value on Reddit, had been largely absent from the online platform since 2021. His influence led to a frenzy
In a market environment where inflation rates are on the rise, Horizon Kinetics’ Inflation Beneficiaries ETF (INFL) has been strategically positioned to capitalize on this trend. Despite potential cuts by the Federal Reserve, James Davolos, the firm’s portfolio manager, remains optimistic about the fund’s performance, stating that they are entering the mature phase of inflation
European companies operating in China are facing mounting challenges as the country’s economic growth slows and overcapacity issues become more prevalent. A recent survey conducted by the EU Chamber of Commerce in China revealed that businesses in the region are finding it increasingly difficult to generate profits, with only 30% of respondents reporting higher profit