A basket of 37 meme stocks tracked by Bloomberg is nearing a bear-market dive of 20%. At market close on Thursday, the basket’s price was just short of being down 20% from the recent high posted on June 8. Four of the best-known meme stocks have shed at least 25% of their value over the past month, according to Bloomberg. […]
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A couple of the ARK Invest exchange-traded funds run by ETF star Cathie Wood made huge purchases on Thursday. Altogether, these funds bought nearly 450,000 shares of UiPath Inc. (NYSE: PATH), as the price of this ETF dropped less than 1% on Thursday. Note that this fund is still up handily in the past year. ARK Innovation ETF (NYSEARCA: ARKK) […]
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U.S. Treasury yields bounced on Friday, easing some concerns about a global economic slowdown brought about in part because of the surprising decline in yields in recent months. The yield on the benchmark 10-year Treasury note climbed 5 basis points to 1.336% at 6:30 a.m. ET. The yield on the 30-year Treasury bond advanced by 6 basis points to 1.97%. […]
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Philip Morris International Operation Center is pictured in Lausanne August 19, 2009. Philip Morris International (PMI) is the leading international tobacco company, with products sold in approximately 160 countries. REUTERS/Denis Balibouse/Files(Reuters) – Cigarette maker Philip Morris International Inc said on Friday it will buy Vectura Group in a deal valuing the British pharmaceutical company at 1.05 billion pounds ($1.44 billion) […]
Read moreBUSAN, July 9 (Reuters) – Unable to get a slot on a container vessel, Lee Sang-hoon is considering using fishing trawlers docked for repair in the South Korean port of Busan to meet surging export orders for the car engine oil he sells to Russia. “China is the black hole in this shipping crisis, all the carriers are headed there,” […]
Read moreBERLIN (Reuters) – DN Capital, a venture capital fund that has backed startups including Germany’s AUTO1, said on Friday it was launching a new fund worth $350 million, bringing total assets under management to $950 million. The London- and Berlin-based investor’s Fund V will back early-stage entrepreneurs in Europe, Britain and the United States building businesses around the adoption of […]
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ARK Invest funds closed down yet again following the broad markets lower in Thursday’s session. ARKG performed the best out of the group, with the exchange-traded fund relatively flat, while ARKF did the worst, down about 1.9%. The gains from last year are slowly sliding away, but Cathie Wood may have something up her sleeve as she is constantly reshuffling […]
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Circle plans to go public by the end of the year through a SPAC with Concord Acquisition Corp. The announcement comes as regulators seek more clarity around the trading and issuers of stablecoins — digital currency that's designed to be less volatile than other crypto — with one proposal suggesting they obtain bank charters. Payments and digital currency firm Circle plans […]
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LONDON (Reuters) – Wise’s record breaking direct listing has come as a relief to other tech firms aiming to go public in the coming months, the bankers managing those deals and to post-Brexit London.FILE PHOTO: Wise logo is seen on a smartphone in front of a displayed stock graph in this illustration taken June 18, 2021. REUTERS/Dado Ruvic/IllustrationA souring of […]
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