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Over three years after the infamous GameStop (NYSE:GME) short squeeze, the American retailer’s share price skyrocketed as much as 110 percent on Monday (May 13) before pulling back to a more than 70 percent gain. The surge came on the heels of a social media post by "Roaring Kitty," also known as Keith Gill. His first online appearance since 2021 has reignited memories of the meme stock frenzy that captivated markets in 2021. Gill, who gained notoriety for his bullish stance on GameStop, posted a meme on X (formerly Twitter) depicting a focused video gamer. It received widespread attention, ac...
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The US Securities and Exchange Commission (SEC) said this week that it is further delaying its decision on spot Ethereum exchange-traded funds (ETFs), dashing what little hope remained of an approval in 2024. Meanwhile, Apple (NASDAQ:AAPL) unveiled two newly designed iPads with artificial intelligence (AI) capabilities, and two tech companies reported their quarterly earnings, prompting very different reactions from investors. Stay informed on the latest developments in the tech world with the Investing News Network's round-up. 1. SEC delays decision on Invesco Galaxy Spot Ethereum ETFThis wee...
Investing News Network
As cryptocurrencies continue to make waves in the world of finance, the Australian Securities Exchange (ASX) is reportedly preparing to join the growing list of exchanges adopting crypto-based financial products. While CBOE Australia, another exchange, has allowed spot Bitcoin exchange-traded funds (ETFs) since April 2022, the ASX is poised to cater to a wider audience of investors if it welcomes these popular investment vehicles. VanEck leads charge toward ASX spot Bitcoin ETFsLeading investment firm VanEck has been pushing for the ASX to allow the trading of spot Bitcoin ETFs since 2021. Fol...
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Apple (NASDAQ:AAPL) reported its Q2 earnings on Thursday (May 2), wrapping up two weeks of quarterly earnings reports. Meanwhile, researchers at the US Department of Energy discovered that automation could enhance economic opportunities in the country's wind turbine industry, and the case against Google led by the US Department of Justice (DOJ) wound down with closing arguments on Friday (May 3). Stay informed on the latest developments in the tech world with the Investing News Network's round-up. 1. Apple's quarterly earnings beat analysts expectationsApple reported its Q2 earnings report aft...
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April was a game-changer for the cannabis industry. After deliberating for almost five months, the Drug Enforcement Administration moved to reschedule cannabis as lawmakers worked to combine the SAFER Banking Act with newly introduced stablecoin legislation. Meanwhile, controversy struck as legal cannabis was seized in New Mexico, Canada's Federal Budget 2024 was released with no mention of reform to high excise tax rates, and the saga of a once high-end cannabis dispensary finally ended in bankruptcy. Keep reading to discover more about these industry-shaping events. DEA finally moves to resc...
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The US Federal Reserve announced on Wednesday (May 1) that it will hold its benchmark interest rate at 5.25 to 5.5 percent following its two day Federal Open Market Committee (FOMC) meeting. In a press conference, Fed Chair Jerome Powell largely echoed previous statements, suggesting the committee will hold rates steady until it has more confidence that inflation is on a sustainable path to its 2 percent target. This was in line with analysts' pre-meeting expectations based on recent data from various government agencies. Higher-than-expected personal consumption expenditures price index data ...
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Bitcoin's price held steady in its first week post-halving despite record exchange-traded fund (ETF) outflows. Meanwhile, a piece of stablecoin legislation could advance to a vote before this year's election in the US, and Tesla (NASDAQ:TSLA) faced a new investigation days after releasing its much-anticipated quarterly report. Stay informed on the latest developments in the tech world with the Investing News Network's round-up. 1. Tesla, Meta, Alphabet and Microsoft release earningsAll eyes were on major tech players this week as they reported their latest quarterly results. Elon Musk's Tesla ...
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On April 16, the Canadian government tabled its 2024 budget proposal. Called "Fairness for Every Generation," it is aimed at helping Millennials and Gen Zs, with C$535 billion earmarked by the Trudeau government for investments in housing, clean economy initiatives, childcare, healthcare and national security. But one section of the document has garnered widespread attention — changes to the capital gains tax scheme. Starting on June 25, 2024, changes to Canada's tax system will aim to “enhance fairness” by adjusting the inclusion rate for capital gains. Individuals with over C$250,000 in annu...
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On Friday (April 19) at approximately 8:10 p.m. EDT, the much-anticipated Bitcoin halving occurred. The event happened when ViaBTC mined block number 840,000, reducing the reward rate from 6.25 Bitcoins to 3.125. Bitcoin remained stable over the weekend, staying within the US$63,000 to US$65,000 range. As of Monday (April 22) at 10:45 a.m. EDT, it was at US$66,243, up 2.2 percent in the past 24 hours and 2.7 percent compared to a month ago. While Bitcoin's price stayed relatively stable, the cryptocurrency's trading volume experienced significant fluctuations through the weekend, with a 45 per...
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The gold price ended last week with a bang, breaking through US$2,400 per ounce for the first time ever. Although it retreated below that level this week, the yellow metal remains historically high. I've asked a number of experts about what's behind gold's big move, and while their opinions differ on the specifics, they all agree that it still has plenty of room to run. Jordan Roy-Byrne, CMT, MFTA, of the Daily Gold may have put it best — he said that we're reaching the point where hyperbolic statements about the gold price can actually come true. Of course, gold stocks continue to underperfor...
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