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Jeff Bezos has disclosed a plan to sell 25 million additional shares of Amazon.com Inc., valued at approximately $5 billion. This announcement coincided with Amazon’s stock reaching a new record high of $200 per share. The notice, filed after market closure on Tuesday, indicated that sales could commence immediately. This latest move follows Bezos’s sale of shares worth about $8.5 billion over nine trading days in February, marking his first disposal of company stock since 2021. Combined with the February sales, the upcoming transaction will bring his total share sales for the year to roughly ...
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Koss Corp (NASDAQ: KOSS) soared a whopping 80% this morning as meme stock traders flocked back into shares of the headphone maker. There hasn’t been an announcement, news, filing, or an analyst call that may have contributed to such a massive surge in KOSS share price on Wednesday. At the time of writing, Koss stock is trading at $8.0 – up sharply versus its low of $2.33 in late April. Roaring Kitty is keeping meme stock rally aliveInterest in the meme stocks has rekindled in recent days as Keith Gill or “Roaring Kitty” loaded up on shares of Chewy Inc shortly after disclosing a multi-million-...
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Ford Motor Company has reported a modest increase in sales for the second quarter of 2024, with total vehicle sales rising to 536,050 units, a mere 1% increase compared to the same period last year. This contrasts sharply with the 10% growth seen in 2023, highlighting the challenges currently facing the U.S. auto industry. Impact of the cyberattack on dealership softwareA significant factor contributing to the slower sales growth was a cyberattack on CDK Global, a critical retail technology and software provider for dealerships, which occurred in late June. This attack disrupted a crucial sell...
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Over 5% of Warren Buffet’s portfolio comprises of Chevron (CVX) stock. He even added to his position in 2023. That in itself is a good reason why one should buy the stock. But the valuation you buy a company at is what determines your returns in the long run. Just because a company is in someone’s portfolio doesn’t automatically make it a good investment. Having said that, Chevron, at its current price, is a great stock to add to your portfolio. Let’s dive in to the reasons why Chevron deserves a place in your stock portfolio. Higher oil pricesAs we saw last month, OPEC considered extending th...
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The SPDR S&P 500 ETF, commonly known as SPY, has been a popular investment vehicle for years. From meme-stock inspired Reddit retail investors to those trying to follow a safe investing approach, this ETF has something for everyone. But at a time when the SPY ETF is at its all time highs, the same question has resurfaced. Are we near the top now? Its hard to give a Yes or No answer. Will there be volatility ahead? Most probably yes. Elections, FED, and geo-political tensions are three uncertainties we’ll have to deal with till the end of the year. Chairman Federal Reserve Jerome Powell spoke t...
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Eli Lilly & Co (NYSE: LLY) received approval for its Alzheimer’s drug from the Food & Drug Administration on Tuesday. The development is significant as it expands treatment options for the neurological disorder that affects close to 7 million Americans. At the time of writing, Eli Lilly shares are exchanging hands at $910. The pharma stock has gained more than 50% since the start of 2024. Is Kinsula news significant for Eli Lilly stock?Alzheimer’s is among the top five causes of deaths for Americans aged more than 65. More importantly, the number of patients suffering from this mind-wasting di...
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Trump Media and Technology Group (TMTG), the parent company of the Truth Social platform, announced it has raised $105 million from the exercise of warrants between June 20 and July 1, 2024. This amount surpasses initial expectations by 51%, providing a significant boost to the company’s financial standing. Unrestricted cash strengthens financial positionTMTG reported that approximately $41 million of previously restricted cash has now become unrestricted. As a result, as of July 1, 2024, the company holds more than $350 million in cash with no debt on its balance sheet. This development comes...
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Oil prices have surged to a two-month high, driven by a mix of rising demand during the Northern Hemisphere’s summer driving season and escalating geopolitical tensions in the Middle East. On Tuesday, Brent crude futures rose 70 cents, or 0.81%, to hit $87.30 a barrel, their highest since April 30. US West Texas Intermediate (WTI) crude was up 68 cents, or 0.82%, at $84.06 after touching its highest since April 26. These prices represent the highest close for Brent since April 30 and for WTI since April 26. Rising demand and geopolitical tensionsThe energy market has shown strong performance t...
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EVGo (NASDAQ: EVGO) and ChargePoint (NASDAQ: CHPT) stock prices have continued falling this month even as the Nasdaq 100 and S&P 500 indices jumped to a record high. EVGO has crashed by over 32% this year, giving it a market cap of over $724 million. ChargePoint’s stock has also dropped by over 36% this year as its valuation moved to over $630 million. Other electric vehicle charging companies like Blink Charging and Wallbox have also tumbled in the past few years. This decline has benefited short sellers since ChargePoint and EVgo are some of the most shorted companies in Wall Street. ChargeP...
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In a recent update, Hindenburg Research revealed that Kotak Mahindra Bank, a prominent private sector lender and brokerage firm in India, played a crucial role in the offshore fund structure used to short Adani stocks. The US-based research firm questioned the Securities and Exchange Board of India’s (Sebi) omission of Kotak Mahindra Bank’s name in its observations, suggesting possible protection of the influential businessman Uday Kotak. Hindenburg questions Sebi’s omission of Kotak Mahindra BankHindenburg Research’s blog post on July 2 disclosed that Kotak Mahindra Bank, founded by Uday Kota...
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