NewsRoom Articles - Page 18 of 35

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…

FridayAug 30, 2024 9:00 am

How Struggling B Riley Financial Got into Current Situation

Riley Financial Inc. (NASDAQ: RILY) is currently in a big financial hole that it dug itself after cofounder B. Riley got involved with a friend's business ventures. The company, which was founded more than 25 years ago, had its stock collapse after a federal investigation on Brian Khan, a close confidant and business partner of Riley. So, where did all this begin? Well, in November 2023, Khan was under federal investigation after the implications of a failed hedge fund that resulted in losses of millions of dollars. Khan denied these allegations, which saw his friend, Riley, supporting and defending him…

WednesdayAug 28, 2024 9:00 am

QuantumScape’s CLO Sells More than 50,000 of Shares

On Aug. 21, 2024, QuantumScape Corp. (NYSE: QS)’s Chief Legal Officer (CLO) Michael O. McCarthy III sold more than 50,000 of its shares, a move that has intrigued investors and raised questions. McCarthy sold his shares at $5.99 per share, resulting in a sale that was valued at about $303,044.25. For financial analysts, this move is not uncommon, particularly for companies. However, for McCarthy, it is part of a broader trend. Last year, he sold 889,660 shares, a pattern that is seen as part of a wider trend within QuantumScape where there have been lots of insider sales. There have…

MondayAug 26, 2024 9:00 am

Nikola Clinches Major Contract to Grow Influence in Public Sector

Nikola Corporation (NASDAQ: NKLA), whose mission is to provide solutions for a zero-emissions world, has made a strategic move by inking a pivotal contract to grow its influence in the public sector. The contract, which was made with Sourcewell, one of the world's leading cooperative purchasing organizations, emphasizes the company's goals and commitment to expanding its influence in the electric vehicle (EV) market. Securing this major contract was harder than it seemed. Nikola had to undergo a complex request for proposal (RFP) process to prove its dedication to compliance and top-tier service, a crucial factor in government contracts. By securing…

FridayAug 23, 2024 9:00 am

Riot Platforms Now Owns 18.9% Stake in Bitfarms

Riot Platforms Inc. (NASDAQ: RIOT), in a recent press release, announced that on Aug. 13, 2024, it purchased 1,000,000 shares of Bitfarms. This means it is now the owner of 18.9% (85,293,054 common shares) of Bitfarms' common shares, up from 18.68% (84,293,054 common shares). The acquisition was made through the NASDAQ Stock Market, with Riot acquiring the shares at an average price of $2.28 per share, amounting to a total investment of $2,280,800. Following this purchase, Riot Platforms currently owns more than 85.29 million shares of the mining company, becoming its largest shareholder. The news comes only one day after…

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