Investing news

Dogecoin (DOGE), the crypto industry’s meme-inspired cryptocurrency, continued to climb as the weekend approached, which is likely no accident. This weekend will likely be huge, not only for DOGE but for many other cryptocurrencies, as the crypto world awaits Saturday Night Live, later today, as Elon Musk is going…

DraftKings Inc. (NASDAQ: DKNG) said on Friday its revenue posted a close to 200% growth in the fiscal first quarter. The company, however, reported a wider than expected loss in Q1 that more than quadrupled on a year over year basis.   1. Financial performance DraftKings noted £247.62 million of…

The Turkey government has introduced a new policy that will require all crypto exchanges in the country to report all crypto transactions worth more than 10,000 liras to the Financial Crimes Investigation Board (MASAK). The country’s minister of Treasury and Finance Lütfi Elvan, made this announcement on May 6 through…

Arte Surfside, the most exclusive luxury building in Miami, has begun accepting crypto as payment for its condominiums. A press release unveiled this news on May 6, noting that Arte partnered with SolidBlock, a crypto trading platform to enable this mode of purchase. Reportedly, the condominium complex decided to start…

Dow Jones Industrial Average hit a record high of 34,800 on Friday. With more earnings on the horizon, a further push next week is quite conceivable. Todd Gordon wants to gamble on Roblox TradingAnalysis.com founder, Todd Gordon, said on CNBC’s “Trading Nation” on Friday that it’ll be worth seeing how…

The U.S. Bureau of Labour Statistics said on Friday that the shortage of raw materials and workers resulted in a surprise decline in job growth last month. Nonfarm payrolls jumped only by 266 thousand jobs in April versus close to a million additions expected. For the first time since the…

ChemoCentryx Inc (NASDAQ: CCXI) tanked roughly 60% in the stock market on Friday as approval for its drug for an autoimmune disease hung in the balance. ChemoCentryx is seeking FDA approval for Avacopan as a treatment for Antineutrophil Cytoplasmic Autoantibody (ANCA)-associated vasculitis (or AAV). According to analyst Joseph Schwartz…

The cryptocurrency market is advancing this Friday, Bitcoin is trading very close to $58000, and for now, everything indicates that the price could advance above this level very soon. Fundamental analysis: Institutional demand continues to grow significantly Bitcoin continues to enjoy the support of both developers and user communities while…

Citibank, one of the oldest banks in the US, is mulling introducing crypto trading, custody, and financing services. The banking giant’s Head of Foreign Exchange, Itay Tuchman, unveiled this news earlier today, noting that the bank has had an influx of requests from its clients to introduce…

The USD/CAD price is on track for the sixth consecutive week in the red after the weak jobs numbers from the United States and Canada. The pair dropped to 1.2146, which was the lowest level since November 11 2017.  USD/CAD price action Canada and US jobs numbers The Canadian…

The US dollar index dropped for the third straight day after the US published the latest non-farm payroll data. It dropped to $90.54, which is 2.90% below the year-to-date high of $93.42. US dollar index price action US non-farm payrolls data The US economy is firing on all cylinders, leading…

Meme-based cryptocurrency Dogecoin (DOGE) is having an impressive second quarter after the token surged by more than 700% within the past month. However, the token is now ahead of Bitcoin when it comes to historical return on investment. This means those who would be invested in Dogecoin from…

International Consolidated Airlines Group SA (LON: IAG) said on Friday the ongoing Coronavirus pandemic continued to weigh on passenger capacity in the first quarter. Despite restrictions, however, its operating loss contracted in Q1. IAG shares tanked 1% on market open on Friday but recovered the entire intraday loss later…

The USD/CHF is on track for the fifth weekly loss as the Swiss economy recovers and as questions of the Federal Reserve monetary policy decisions remain. The pair dropped to 0.9075, which was the lowest level since March 1. USD/CHF price action Swiss economic recovery gaining steam The Switzerland…

Helsinki-based telecom giant Nokia announced that it had launched a blockchain-powered marketplace “Nokia Data Marketplace”. The marketplace incorporates Hyperledger Fabric enterprise blockchain and aggregates the data from the distributed sources to make the information favourable for machine learning (ML). According to Nokia, the blockchain AI solution…

The USD/CNY price declined after the strong economic data from China. It dropped to 6.4600, which was 1.80% below the highest point in March. USD/CNY price action China growth accelerated China has emerged as the biggest winner of the coronavirus pandemic. It was the first major economy to return…

Roku Inc. (NASDAQ: ROKU) reported its financial results for the fiscal first quarter on Thursday that beat Wall Street estimates. On the back of hawkish quarterly performance, the company also raised its guidance for Q2. 1. Financial performance Roku said that its net income in the first quarter printed…

AMC Entertainment Holdings Inc (NYSE: AMC) ranked just behind GameStop as the second most popular “meme stocks” in early 2021. At its peak, AMC stock traded at $20.36 but has since fallen below the $10 per share level. Despite losing 50% in value from its peak, AMC Entertainment stock…

PureCycle Technologies Inc. (NASDAQ: PCT) shares were reported about 26% down in premarket trading on Thursday after Hindenburg Research called it a ‘charade’. In its report, Hindenburg highlighted that PureCycle’s executives, including CEO Mike Otworth, listed six other companies on the stock exchange before PureCycle. Two of these ended…

Dan Schulman, the CEO of payment giant PayPal, has come out to tout crypto following the firm’s exemplary performance in Q1, this year. A report unveiled this news on May 6, citing an earnings call, in which Schulman noted that PayPal’s crypto dealings helped push its earnings higher than expected.

Apple shares have weakened from their recent highs above $140, and the current price stands around $128. Apple reported better than expected second-quarter results last week, and the company increased the quarterly dividend by 7.3%. Fundamental analysis: Morgan Stanley raised its target on Apple from $158 to $161 Apple shares…

Facebook (NASDAQ: FB) banned Donald Trump from two of its social platforms, Instagram and FB, following the Capitol Hill riots in January. Facebook’s Oversight Board upheld the decision on Wednesday but criticised the ban for being “permanent”. According to the Oversight Board: “The initial verdict to indefinitely ban…