Bitcoin halving, Trump Media stock falling, and banks rising: Markets news roundup
5 cryptocurrencies to watch as the big Bitcoin ‘halving’ begins
Bitcoin is going through its latest so-called “halving” event. The halving will cut the current reward for mining new coins from 6.25 Bitcoin to 3.125. Halving is an integral part of the Bitcoin blockchain system, which creates a monetary system that controls inflation.
Trump Media announced a live TV streaming platform — and the stock tumbled 14%
Shares of Trump Media & Technology Group, the company behind former President Donald Trump’s social media platform Truth Social, fell sharply again after it announced that it’s launching a streaming platform.
Bitcoin is on a rollercoaster ride with the big ‘halving’ event on the horizon
Bitcoin is going through a topsy-turvy phase as the so-called Bitcoin “halving” event is on the horizon. The top cryptocurrency jumped Monday after Hong Kong approved spot Bitcoin ETFs, but it fell again soon after. The cryptocurrency continued its decline on Tuesday morning, with a drop of more than 4% in a day, to less than $63,000.
Trump Media stock plummets 18% as it plans to issue millions more shares
Trump Media & Technology Group said it will issue millions more shares, sending its stock plunging again.
The company behind former President Donald Trump’s Truth Social platform said in a Securities and Exchange Commission filing that it is registering the resale of up to almost 21.5 million new shares of common stock issuable upon the exercise of warrants, up to about 146 million shares of common stock, and up to about 4 million warrants to purchase common stock. Certain shares held by insiders may still be restricted from trading until the expiration of a lock-up agreement 5-6 months after the date of the IPO.
Super Micro Computer stock soars 10% after an analyst says it can hit $1,500
Super Micro Computer stock rallied after a Wall Street analyst hiked his price target on the shares from $600 all the way to $1,500. Shares in the AI hardware closed up more than 10%, making Super Micro Computer the day’s best performing stock in the S&P 500. It was added to the index just last month.
Bitcoin passes $65,000 on the big ‘halving’ day
After days of tumultuous trading, Bitcoin finally returned to above the $65,000-level, thanks to its big “halving” event. The jump in Bitcoin price is a relief for investors after analysts at big banks including JPMorgan and Goldman Sachs have been less confident about the top cryptocurrency in their recent reports.
Goldman Sachs and other bank stocks are popping on earnings
Banking stocks including Goldman Sachs, Charles Schwab, and M&T Bank were rising following the firms’ first-quarter earnings reports.
JPMorgan Chase, Citi, and Wells Fargo all reported earnings Friday that exceed Wall Street’s expectations, but their stocks still feel as they warned of geopolitical, economic, and regulatory challenges.
Could Middle East tension escalate oil prices?
Strategist Lou Basenese of Public Ventures LLC tells Quartz how the war in the Middle East could affect energy prices and our wallets
AI stocks to consider if you missed Nvidia’s run
Lou Basenese of Public Ventures LLC on why buying Microsoft may be a better AI play than Nvidia