Stock markets
Novogratz says crypto going through a ‘Long Term Capital Management moment’ but nearing a bottom
Michael Novogratz Anjali Sundaram | CNBC Crypto investor Michael Novogratz is drawing parallels between crypto and Long Term Capital Management, a highly leveraged hedge fund that blew up in the late 1990s. “We are going through what feels to me a little bit like a Long Term Capital Management moment in crypto,” Novogratz said on CNBC’s […]
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Bitcoin’s plunge spells trouble for the dot-com era entrepreneur who went all in
Michael Saylor, chairman and chief executive officer of MicroStrategy, first got into bitcoin in 2020, when he decided to start adding the cryptocurrency to MicroStrategy’s balance sheet as part of an unorthodox treasury management strategy. Eva Marie Uzcategui | Bloomberg | Getty Images Having once lost $6 billion at the height of the dotcom bubble, […]
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Most factories in Shanghai resume work as Covid controls ease, ministry says
German automaker Volkswagen is one of state-owned automaker SAIC’s foreign partners in China. Pictured here on June 7, 2022, is the joint venture’s factory in Shanghai. Qilai Shen | Bloomberg | Getty Images BEIJING — Factories in two of China’s Covid-hit economic hubs have mostly resumed work as the impact of the virus subsides, according […]
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BYD is selling so many electric cars it’s become one of the top three automakers in China
One of BYD’s bestselling electric car models, the Han, is on display during an auto show in Shenzhen on June 5, 2022. Anadolu Agency | Anadolu Agency | Getty Images BEIJING — Chinese electric car maker BYD saw sales more than double in May, solidifying the company’s climb into the ranks of the top three […]
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Jim Cramer says to avoid buying shares of Jack Daniel’s distiller for this reason
CNBC’s Jim Cramer on Monday warned investors against investing in Brown-Forman, the owner of whisky brand Jack Daniel’s. His comments come on the heels of the announcement that the company is partnering with Coca-Cola to produce canned Jack-and-Coke cocktails. “This is a very tough market. It has incredibly high standards. Brown-Forman stock would normally be […]
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Cramer says investors can buy stock of this software company as a speculative pick
CNBC’s Jim Cramer on Monday said that investors have his permission to buy shares of software company Mitek Systems as a speculative play. “Mitek’s genuinely cheap on an earnings basis, which is why it’s … one I’m willing to bless for speculation in what is otherwise an extremely hostile environment,” the “Mad Money” host said. […]
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Cramer’s lightning round: Matterport is not a buy
Matterport Inc: “The stock loses money, and we’re not recommending any stocks … that are losing money.” Veru Inc: “We caught a big move. How about we just leave it at that.” Cintas Corp: “I think [the Biden Administration] wants to be pro-business but doesn’t know how. So I can not be behind Cintas at […]
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1980s-era rate hikes designed to fight inflation will create more market turmoil, Canaccord’s Tony Dwyer predicts
Stocks may go into a deeper tailspin. Canaccord Genuity’s Tony Dwyer predicts 1980s-era interest rate hikes will exacerbate the turmoil and make a recession seem increasingly more likely. “Typically, I’ve been bullish over the years. But there’s a money availability problem,” the firm’s chief market strategist told CNBC’s “Fast Money” on Monday. “Ultimately, you have […]
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Stick to ‘really boring’ stocks to ride out the cratering market, Jim Cramer says
CNBC’s Jim Cramer on Monday said investors should be in stable, boring stocks to keep their portfolios strong as concerns over inflation roil the market. “If you took your cue from me and bought common stocks of companies that make real things and do real things that return capital and trade at a reasonable valuation, […]
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JPMorgan’s trading guru Kolanovic says the market will recover losses to finish year flat
Top Wall Street strategist Marko Kolanovic is sticking by his guns amid the sharp market sell-off, seeing the S & P 500 to rebound and finish 2022 flat. “We believe rates market repricing went too far and the Fed will surprise dovishly relative to what is now priced into the curve,” JPMorgan’s Kolanovic said in […]
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