The recent surge in meme stock trading, particularly in companies like AMC Entertainment and GameStop, can largely be attributed to the influence of social media. The resurgence of these stocks in what has been termed as a “meme stock” rally has been triggered by the actions of individuals on platforms like Reddit. The viral nature
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As of the first quarter of 2024, consumers are facing the challenge of putting down more money to purchase a home. The typical down payment amount has seen an increase, with the average being 13.6% and the median being $26,000. However, these figures are still below the peaks seen in the third quarter of 2023.
Alibaba, the Chinese e-commerce giant, experienced a significant drop in net profit during the fiscal fourth quarter, leading to a 5% decrease in its shares. The company’s revenue for the quarter stood at 221.9 billion yuan, slightly higher than the LSEG consensus estimate of 219.66 billion yuan. Despite the revenue beat, Alibaba’s net income attributable
Swedish fintech company Klarna has reported that almost 9 out of 10 of its employees are utilizing generative artificial intelligence tools on a daily basis. This adoption rate of over 87% is significantly higher than the average in the broader corporate world, where only 61% of computer users are incorporating generative AI programs into their
AMC Entertainment recently raised around $250 million through a new equity capital offering. This move came amidst the revival of the meme stock craze, which was triggered by the reappearance of “Roaring Kitty.” The movie theater operator decided to sell 72.5 million shares in an at-the-market equity offering that began on March 28. Ultimately, AMC
Tencent, the Chinese tech giant, managed to surpass analyst estimates for revenue and profit in the first quarter. The company’s core gaming business saw slightly better sales, while its advertising and business services division showed improved profitability. Tencent’s revenue reached 159.5 billion Chinese yuan, exceeding the expected 158.4 billion yuan. Profit attributable to equity holders
Contrary to popular belief, being incredibly wealthy does not necessarily equate to a trouble-free life. While some may envision a million-dollar paycheck as a solution to all problems, the reality is quite different. According to therapists who work with the ultra-rich, these individuals often grapple with feelings of isolation, depression, and paranoia. The common misconception
As the value of homes across America continues to rise, more and more people are finding themselves liable to pay capital gains taxes when selling their properties. However, experts believe that understanding how to calculate the profit from your home sale can help you reduce the amount you owe in taxes. Although most Americans are
Novavax shares surged by 50% following the announcement of a new multibillion-dollar agreement with French pharmaceutical giant Sanofi. This deal marked a significant turnaround for Novavax, a company that had been struggling with doubts about its financial viability since February 2023. The stock nearly doubled in value after the licensing agreement was made public, allowing
GameStop has once again taken center stage on Reddit’s WallStreetBets forum thanks to the return of the infamous “Roaring Kitty.” With mentions of the video game retailer surpassing 900 in the last week, GameStop has become the second most talked-about equity, just behind the SPDR S&P 500 ETF Trust. “Roaring Kitty,” also known as Keith