The stock market continued to melt down in afternoon trading as the Nasdaq’s losses exceeded 3% and indexes traded around session lows. X Energy stocks, which had been holding up, fell broadly and damaged one of the few pockets of strength. But selling was broad, with decliners beating advancers by more than 7-to-1 on the … Read more
Robin Birley’s plot for a British invasion of New York City’s nightlife scene just took a major step forward. The London club king – a posh pal of Prime Minister Boris Johnson whose 5 Hertford St. in London is where Prince Harry and Meghan Markle had their first date – has finally signed a lease … Read more
Bitcoin’s tumbling price is dragging down MicroStrategy’s stock. Dreamstime Text size MicroStrategy , a software and Bitcoin holding company, was tumbling again as the price of the crypto continued to slide. Shares of MicroStrategy (ticker: MSTR) were down 23% in trading Monday, to around $227 a share. The company held 129,218 Bitcoins on its balance … Read more
CNN’s fact checker Daniel Dale pushed back on President Biden’s recent claim that his policies had helped to reduce the federal deficit – revealing that one expert told him that the Democrat’s assertion was “almost bizarro world” in its misrepresentation of the situation. “Let me remind you again: I reduced the federal deficit,” Biden said … Read more
Text size Door panels at Rivian’s assembly plant. Courtesy Rivian Trading in shares of electric vehicle start-up Rivian Automotive is starting to make no sense. The stock was down almost 20% Monday afternoon on a weak day for the market. The S&P 500 and Dow Jones Industrial Average were off 2.7% and 1.6%, respectively. It’s … Read more
New Era Cap CEO Christopher Koch was arraigned on a felony charge Monday after allegedly driving his vehicle toward a man during an argument, forcing him to jump out of the way to avoid being hit. Koch, 61, was released without bail after appearing in City Court on a felony reckless endangerment charge. The judge … Read more
Executives at Palantir Technologies Inc. see the software company as strongly positioned for the current uncertain environment, but shares were tanking on Monday after the company delivered a mixed earnings report and downbeat forecast. While Palantir PLTR, -22.10% slightly exceeded revenue expectations for its first quarter, it fell short on the bottom line. The company … Read more
David Solomon’s Goldman Sachs is reducing its involvement with blank-check companies, a spokesperson for the bank said on Monday, as US regulators continue to clamp down on what was one of the hottest trends on Wall Street in recent years. The boom in the special purpose acquisition company (SPACs) market had been a boon for Goldman’s investment banking … Read more
Reddit-obsessed retail stock traders have lost all of their gains since the the pandemic began as the government stimulus that kept markets afloat comes to a screeching halt, according to a report. Retail traders have been hit the hardest by the recent downturn in stocks, having on average lost all the gains they made when … Read more
Stock-market investors have been on a roller-coaster ride, but a closely watched measure of expected volatility has yet to convincingly signal that the selloff is set to bottom out, analysts said Monday. The Cboe Volatility Index VIX, +13.88%, an options-based measure of expected S&P 500 SPX, -2.72% volatility over the next 30 days, rose 13.3% … Read more