Donald Trump's $2 billion stock windfall, Bitcoin falls, Super Micro Computer tanks: Markets news roundup
Donald Trump could make more than $2 billion dumping his Trump Media stock. Here’s what to know
Former President Donald Trump could offload his 114.75 million shares of Trump Media & Technology Group, or about 60% of the company’s outstanding stock, next month. While the move would line his pockets, it could spell trouble for the already troubled stock.
Bitcoin falls below $60,000 because crypto whales are dumping it
Bitcoin fell below $60,000 again on Wednesday, triggered by a significant amount of tokens transferred to popular crypto exchanges. This reversed the gains made over the weekend following the Fed Chair’s speech. The leading cryptocurrency decreased by more than 5% in the past 24 hours, dropping below $59,000.
Trump Media stock sinks below $20 for the first time
Trump Media & Technology Group stock hit a fresh post-merger low Wednesday, as its shares dipped below $20 for the first time since going public.
Shares of Trump Media, the company behind former President Donald Trump’s social media network Truth Social, fell roughly 6%, bottoming out at $19.38 per share. In the five months since its debut on the Nasdaq under the ticker DJT, the company has seen its market value plunge 66%.
Super Micro Computer stock tanks 22% after a short-seller’s scathing report
Just a day after a short-seller published a scathing report accusing Super Micro Computer (SMCI) of accounting red flags and questionable business dealings, the firm said it would delay filing its next financial reports.
Mortgage rates keep falling. But homebuyers still aren’t biting
Mortgage rates declined for the fourth-consecutive week, in what should be a positive for both homeowners and homebuyers. But the drop in rates has, so far, done little to spur sales.
Abercrombie & Fitch stock nosedives 17% as the CEO warns of what’s next
Despite a positive second-quarter earnings report, Abercrombie & Fitch (ANF) stock took a more than 17% dive Wednesday after the CEO warned of an “increasingly uncertain environment.”
Warren Buffett’s Berkshire Hathaway just hit a $1 trillion market cap
Berkshire Hathaway (BRK.A) CEO Warren Buffett just got an early birthday present.
Berkshire Hathaway, Buffett’s sprawling Omaha-based conglomerate, reached a market capitalization of $1 trillion Wednesday, becoming the first U.S. company outside of the tech sector to reach the milestone.
Dollar General stock is plunging to its worst day ever because its customers ‘feel worse off’
Shares of Dollar General (DG) plummeted 29% on Thursday, heading toward what could be the company’s worst single-day performance on record. The sharp decline followed the discount retailer’s fiscal 2024 second-quarter earnings report, which revealed both profit and sales figures that fell short of market expectations.
The Bank of Japan won’t raise interest rates — and then the yen carry-trade is back on, strategist says
What happens if the Bank of Japan raises interest rates and the yen carry-trade fallout continues? Jeff Weniger of WisdomTree breaks it down
Donald Trump’s policies would make inflation surge, Nobel Prize-winning economist says
Former President Donald Trump’s economic plan would be a “disaster” for the U.S., and implementing his proposed tariffs on Chinese imports would make inflation surge, according to a Nobel-prize winning economist.