Nvidia’s recent surge has caused a major shake-up in the Technology Select Sector SPDR Fund (XLK), forcing it to make some significant changes in its portfolio. The fund, which tracks the Technology Select Sector Index, is now in the process of rebalancing its holdings based on market cap values. As a result, Nvidia will soon
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Recently, Keith Gill, widely known as “Roaring Kitty” in online forums, has made headlines again by increasing his ownership in GameStop’s common stock. By posting a screenshot of his E-Trade portfolio on Reddit’s Superstonk forum, it is evident that he now holds over 9 million GameStop shares and has more than $6 million in cash.
GameStop witnessed a drastic drop of 12% in its shares on Monday, following a significant sell-off initiated by a disappointing earnings report and an unimpressive livestream by Roaring Kitty. This decline continued from Friday, where the stock plummeted by almost 40% in a single day, leaving the price at around $25 per share. The company
When it comes to predicting the market sentiment, investors rely heavily on macroeconomic data. However, individual stock picks can also play a crucial role in achieving long-term returns. One such stock favored by the Street’s top pros is off-price retailer Burlington Stores (BURL). The company’s first-quarter results for fiscal 2024 were impressive, leading to raised
In December 2023, Scott Kleinman, Co-President of Apollo Asset Management, made a bold prediction by going against the market consensus and betting against any rate cuts in 2024. This contrarian view has proven to be accurate as the year has progressed. Despite the market’s expectations of lower rates, Kleinman remained steadfast in his stance. While
Barry Sternlicht, the chairman and CEO of Starwood Capital Group, recently found himself in the middle of a storm of criticism after deciding to cap the amount of money investors could withdraw from his real estate fund. Amidst mounting losses and a surge in redemption requests, Sternlicht defended his controversial decision on CNBC’s “Squawk Box,”
One of the top dividend-paying stocks recommended by Wall Street analysts is tech giant IBM. Despite announcing mixed first-quarter results, IBM is considered a strong pick for investors looking for stable income. The company exceeded earnings expectations, while revenue fell short due to macroeconomic uncertainties. IBM recently acquired cloud software maker HashiCorp for $6.4 billion
Cathie Wood’s ARK Invest has been making waves in the investment world with its strategic bets on disruptive technologies. One such area of focus is artificial intelligence, and recently, ARK Venture Fund has taken a stake in Elon Musk’s startup xAI. This move signifies Wood’s deepening interest in AI innovation and the potential it holds
Semler Scientific, a relatively obscure medical technology company, made headlines recently after revealing its decision to make bitcoin its primary treasury reserve asset, mirroring the moves of industry giant MicroStrategy. Along with this announcement, Semler disclosed the acquisition of 581 bitcoins, amounting to approximately $40 million. Despite bitcoin experiencing a slight decline in value, Semler’s
Monday.com, a workplace management software maker, has been receiving positive reviews from analysts. The company recently reported strong first-quarter results, which showcased high demand for its products across various markets. Goldman Sachs analyst Kash Rangan, in response to the earnings report, reiterated a buy rating on the stock and increased the price target. Despite an