Three Short-Squeeze Stocks to Watch Beyond the Reddit IPO
Get ready for the next big short-squeeze opportunity in the stock market. Intuitive Machines (LUNR), Desktop Metal Inc (DM), and Blink Charging (BLNK) are three stocks with significant potential for short-squeeze and long-term investment success. While the Reddit IPO is creating buzz, these companies offer compelling standalone investment opportunities.
Nigerian fintech startup, Zone, secures $8.5 million seed funding for blockchain-powered payment infrastructure expansion
Nigerian fintech startup, Zone, secures $8.5 million seed funding to expand its blockchain-powered payment infrastructure. With backing from leading investors, including TLcom Capital and Flourish Ventures, Zone aims to revolutionize payment transactions in Africa and beyond, leveraging its position as the continent’s first regulated blockchain network for payments.
South Korea’s Economy Shows Signs of Growth but Faces Challenges
South Korea’s economy is expected to grow this year, driven by increased exports. However, domestic demand is declining, particularly in the construction sector. The surge in project-financing loans, linked to the property market, is now posing a significant risk to the economy.
JoAnn Fabric Files for Bankruptcy, 22 Stores in Massachusetts
JoAnn Fabric, with 22 locations in Massachusetts, has filed for bankruptcy, securing $132 million in fresh funding to reduce its $1 billion debt. The 81-year-old chain saw a brief surge in sales during the early days of COVID, but has been on a steady decline for years. Despite the bankruptcy, its 850 stores and website will remain open for business.
Craft Brewers Association of Nova Scotia Welcomes Federal Changes to Alcohol Excise Duty
Ottawa is capping and cutting in half the excise duty on alcohol, a move welcomed by the president of the Craft Brewers Association of Nova Scotia. The reduction in excise duty is expected to provide much-needed support and relief to the industry, particularly in Nova Scotia, where the sector has faced significant difficulties.
Federal Reserve Chair Jerome Powell Testifies Before US House Committee
Federal Reserve Chair Jerome Powell testified before the Financial Services Committee of the US House of Representatives, outlining potential changes to banking regulations and the Fed’s stance on interest rates. Powell expressed confidence in the US economy and signaled a cautious approach to cutting rates, with limited market reaction to his testimony.
The Fed’s Data Dependency Risks Causing Mistakes
The Federal Reserve’s heavy reliance on economic data has led to potential policy mistakes and increased market volatility. The focus on data has caused the Fed to fall behind in its inflation battle and make repeated forecasting errors. This excessive data dependency risks keeping interest rates too restrictive for too long, leading to output loss, higher unemployment, and financial instability. The analogy of driving a car by looking in the rear-view mirror rather than through the windshield illustrates the potential problems with the Fed’s approach to data dependency.
Best Mortgage Companies to Work For 2024
Discover the Best Mortgage Companies to Work For in 2024, as ranked by National Mortgage News and the Best Companies Group. Employee engagement takes center stage in this year’s ranking, with a focus on leadership, corporate culture, and overall satisfaction. Learn about the top companies and their strategies for navigating a challenging year in the mortgage lending industry.
Lawsuit Exposes Predatory Practices of Cash-Advance Operation
New York Attorney General Letitia James has filed a lawsuit exposing the predatory lending practices of cash-advance operation Yellowstone Capital and its related companies. Allegations include fraudulent loans with interest rates as high as 820%, leading to the closure of businesses like City Bakery. The lawsuit seeks to bar these entities and individuals from engaging in such practices.
Stock Market Fluctuations and Natixis Advisors L.P. Increases Position in Super Micro Computer, Inc.
Today’s stock market saw fluctuations, with the S&P 500 at 5,130.95 (-0.12%), the DOW at 38,989.83 (-0.25%), and the QQQ at 444.02 (-0.36%). Tech giants AAPL and MSFT experienced stock price dips, while NVIDIA (NVDA) showed a significant increase of 3.61%. Natixis Advisors L.P. has increased its position in Super Micro Computer, Inc. (NASDAQ:SMCI) by 31.4% during the 3rd quarter, with other institutional investors also showing interest in SMCI.