Silver price has staged a strong comeback in the past few days as investors continued to buy the dip. It has risen in the past five days straight and the movement is gaining momentum. It jumped to $30.50 on Wednesday, its highest point since June 21st. Commodities are soaringSilver’s rally has also triggered a big movement in exchange-traded funds (ETF) that track the metal like the iShares Silver Trust (SLV), abrdn Physical Silver Shares (SIVR), and Global X Silver Miners ETF (SIL). The metal’s jump also coincided with the ongoing recovery of other commodities. Gold, the best-known precious m...
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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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Meta’s Threads, launched a year ago, now boasts 175 million active users and is positioned as a potential rival to Elon Musk’s X. With high-profile endorsements and a blend of text, images, and videos, Threads aims to offer a more brand-friendly alternative to the traditional social media landscape. Twenty five million user added in the last three monthsSince its launch on July 5, 2023, Threads has experienced rapid growth. Initially, it attracted millions of users overnight, including celebrities, politicians, Instagram users, and corporate brands. Meta CEO Mark Zuckerberg recently announced ...
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Consensys the firm behind the prominent cryptocurrency wallet MetaMask, has acquired Wallet Guard. The acquisition comes in a bid to enhance the Web3 wallet’s security. The development has been confirmed by Wallet guard co-founder Martin on X. He is also the senior product manager at MetaMask. Enhanced security for MetaMask usersAs a part of the move, the entire Wallet Guard team will onboard Consensys as a part of the MetaMask Product Safety Team. Not much has been disclosed about the deal; as such, the terms of the acquisition remain unknown. MetaMask is looking to integrate Wallet Guard’s b...
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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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On Wednesday, Piper Sandler included Qualcomm (NASDAQ: QCOM) as one of the stocks with the most extreme upside in Q2 2024, placing it among the top performers in their Portfolio Strategy report. Despite some broader market challenges, Qualcomm’s standout performance has been driven by a significant number of factors, suggesting robust growth potential. Q3 earnings outlookQualcomm’s upcoming Q3 2024 earnings report is eagerly anticipated, with an announcement date set for July 31, 2024. The market is looking forward to seeing if the company can meet or exceed the expected EPS of $1.79 and reven...
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In the last two years, the groundbreaking development of generative AI has made its mark on almost every sector of the economy. It can write computer code, create texts and images, and even act as your personal assistant. Since US tech still dominates the global space, we tend to hear a lot about their latest developments. What we often don’t see or hear about is the contribution of its closest rival: China. If you go back to the 5G race during the last decade, it was a clear turning point for China-US rivalry. While US and Europe dominated the setting of telecom standards, along came China an...
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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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Pakistan is on the brink of securing a staff-level agreement with the International Monetary Fund (IMF) for a bailout exceeding $6 billion, having fulfilled the lender’s stringent requirements in its latest annual budget. This announcement was made by Ali Pervaiz Malik, the Minister of State for Finance, Revenue, and Power, during an interview with Reuters. Historical context and IMF relationshipThis potential bailout marks a significant moment in Pakistan’s ongoing relationship with the IMF. The South Asian nation has frequently turned to the IMF for financial assistance, reflecting persisten...
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If you have been keeping an eye on the meme coin market this year, chances are that you have already heard of Memeinator (MMTR) and Popcat. Both have been making waves but it’s likely that Memeinator will prove to be a better investment for 2024. Let’s dive in and explore why. Intro to Memeinator and PopcatLet’s introduce you briefly to both Memeinator and Popcat first. Memeinator is a fairly recent addition to the crypto market – one that has a rather bold mission: to dominate the meme coins space by destroying the weaker peers. Popcat, on the other hand, aims at playing the wave of cute anim...
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