Billion Dollar Club Archives - Page 28 of 46

WednesdaySep 25, 2024 9:00 am

Chechen Warlord Accuses Musk of Remotely Disabling Cybertruck

In what feels like a plot straight out of a sci-fi movie, Chechen warlord Ramzan Kadyrov has claimed that billionaire tech mogul Elon Musk remotely deactivated a Tesla Inc. (NASDAQ: TSLA) Cybertruck that he supposedly gifted him in Chechnya. Kadyrov, who is close to Vladimir Putin, said that Musk "switched off" the Cybertruck from across the globe. The saga began when Kadyrov shared a video of himself driving a Tesla Cybertruck outfitted with a machine gun on its roof. When Musk gifted Kadyrov the electric pickup truck, he was over the moon. According to the Chechen leader, it is fast,…

MondaySep 23, 2024 9:00 am

A First in the Industry: Quantum Computer Fixes Own Errors

A significant milestone that promises to change technology in quantum computing has been reached. For the first time in the history of computers, a quantum computer has fixed its own errors mid-calculation. Quantum error correction, as scientists are calling it, is a process that makes quantum computers more reliable. It also has the potential to pave the way for these computers to solve problems that are a challenge for advanced classical computers. So why does error correction matter? Well, Quantum computers are not like ordinary laptops or even phones. These machines perform calculations using quantum bits, or qubits, which harness…

FridaySep 20, 2024 9:00 am

Rivian Opts to Follow Different Philosophy from Tesla in China

Rivian, a young electric vehicle (EV) company, has decided to do things differently by choosing a different philosophy compared to Tesla in China. Even though Tesla popularized electric vehicles (EVs) around the world and are now expanding into China, the two companies have decided to take different approaches. According to Rivian Automotive Inc. (NASDAQ: RIVN), it has decided to carve its own path and not follow every move by Tesla, particularly in the Chinese market. Rivian is not trying to compete directly with Tesla in the Chinese market. This could come as quite a surprise, especially since Tesla has already…

WednesdaySep 18, 2024 9:00 am

Lucid Teases New EV Set for 2026 Release

Lucid Motors (NASDAQ: LCID), a luxury electric vehicle manufacturer, has once again made headlines in the electric vehicle (EV) industry. The company teased that it would release its new EV in late 2026. This new model, which is expected to be a game changer for the company, is set to rival giants such as the Tesla model Y. Lucid, known for its luxury electric sedans and groundbreaking technology, believes that this new model, which it calls the Lucid Earth, will be a great option for EV enthusiasts who want an affordable yet high-performing EV. In a post on X, the…

MondaySep 16, 2024 9:00 am

Judge Says Coinbase Must Face Stockholder Class Action Suit

Coinbase Global Inc. (NASDAQ: COIN), the largest U.S. cryptocurrency exchange, is in a sticky situation after the federal judge overseeing the class action lawsuit filed by its shareholders ruled that the suit will proceed. The judge made a ruling that the allegations that Coinbase downplayed the likelihood that the U.S. Securities and Commission (SEC) would sue them, were credible. Coinbase was sued in June 2023 by the SEC for violating the U.S federal securities law. The judge's decision not to dismiss the suit has stunned the world of cryptocurrency, with many wondering about Coinbase's transparency with its investors. The legal…

FridaySep 13, 2024 9:00 am

Chinese Exchanges to Include Alibaba in Stock Connect Scheme

Starting this week, Shanghai and Shenzhen stock exchanges will include Alibaba and other companies in the Stock Connect cross-border investment scheme. This significant development for investors and financial markets alike will ensure that the Shenzhen and Shanghai exchanges link up with the Hong Kong stock exchange in a more seamless financial network. So, what significance does this hold? To begin with, Alibaba Group Holding Ltd. (NYSE: BABA)'s inclusion in the scheme is a game-changer for investors and the broader financial landscape. The tech behemoth has now officially been added to a program allowing investors in mainland China to trade shares…

WednesdaySep 11, 2024 9:00 am

Rumble Director Sells More Than 27,000 Company Shares

A director at Rumble Inc. (NASDAQ: RUM) made headlines on Sept. 6, 2024, by selling 27,500 shares. These class A common stock shares were sold at $5.23 per share, resulting in a total of $143,825. Following the sale, Robert Arsov now has 14,742,337 shares at the online video-sharing company. The move, which drew the attention of investors and industry watchers alike, is the latest in a series of insider sales over the past year. This has led to many asking what it means for the company. Insider sales at the Toronto-based company are not limited to Arsov alone. There have…

MondaySep 09, 2024 9:00 am

Momo Inc. Exceeds Q2 Revenue, Earnings Projections

Hello Group, the parent company of Momo Inc. (NASDAQ: MOMO), released its Q2 earnings report, sparking serious discussions among investors. Momo’s earnings were $0.33 per share, which is more than what analysts expected. The Zacks Consensus Estimate was at $0.30, which means Momo’s earnings were 10% more than expected. The company’s earnings for 2023 were $0.43 per share. Though those numbers are down from last year, the earnings are impressive and show that the company is here to stay. First, let’s talk numbers. In terms of revenue, Momo posted $370.35 million for the quarter, just slightly above the consensus estimate…

FridaySep 06, 2024 9:00 am

Why BTC Miner Marathon Digital Diversifying Operations

Marathon Digital Holdings Inc. (NASDAQ: MARA), a digital asset technology company, recently announced its decision to begin mining Kaspa (KAS), a promising proof-of-work (PoW) digital asset. According to the company, this decision is not based on a whim but on a calculated analysis of potential profitability. Kaspa is not just a cryptocurrency — as of June 2024, it became the fifth largest PoW digital asset by market cap, owning a valuation of $3.9 billion. Unlike other crypto, Kapsa has an innovative BlockDAG technology that processes multiple blocks simultaneously. This, in turn, ensures users enjoy faster transactions and more frequent block rewards.…

WednesdaySep 04, 2024 9:00 am

Institutional Investors Currently Own 26% of Crypto Equipment Maker Canaan Inc.

Knowing who is in control of Canaan Inc. (NASDAQ: CAN), a well-known crypto equipment manufacturer, is key to understanding the strategic direction of the company. At the moment, institutional investors own 26% of the China-based manufacturers' shares, representing a portion of the confidence they have in the company. However, this only represents a portion of the whole. Interestingly, institutional investors are not the largest group of shareholders in Canaan — retail investors are. Retail investors own about 59% of the company, making them the majority stakeholders and giving them substantial influence over the company's decisions, from management strategies to policy…

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