Category: Analysis

7 Things You Need to Know about Bitcoin Wallet

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If you want to start buying, mining, or selling Bitcoin, the first thing you need is a Bitcoin wallet. Even if you’re not involved in the world of cryptocurrency trade, you might have already heard of the term and have a vague understanding of how it works. However, you might not know about all the Bitcoin wallet options and how they differ from one another. Let’s take a deeper look into Bitcoin wallets and find out which one would work best for you. The Basics: What Does a Bitcoin Wallet…

Latch Merges with TSIA, Set to Become Publicly Traded Company via IPO, TSIA Stock Up 75%

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After the news about the deal with Latch, TSIA stock has skyrocketed in the pre-market. Latch, maker of the popular software-as-a-service (SaaS) platform LatchOS has announced that it would now be merging with an acquisition company started by the renowned real estate developer and investment manager Tishman Speyer, TS Innovation Acquisitions Corp (NASDAQ: TSIA). TSIA is a publicly-traded company that focuses on special purpose acquisition. The merger would lead to Latch becoming a publicly listed company.  It’s important to note that after the news, TSIA stock has jumped by 75%…

Assessing Altcoin Mood Music as Bitcoin Catches Its Breath

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While some altcoins have gained in Ethereum’s slipstream, others are plotting their own course while seeking to topple the front-runner itself. Is alt season upon us? Many crypto commentators are predicting just that, after Ethereum (ETH) hit a record high of over $1,440 on January 19. Altcoins have traditionally taken a backseat when Bitcoin is in the ascendancy and appreciated only when BTC consolidates. At the time of publication, several top 40 cryptocurrencies have popped, while Bitcoin’s price is down over 10% since this time last week. Although ETH’s price…

MRK Stock Down 1% in Pre-market, Merck Halts Its Covid-19 Vaccine Development

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Merck has a reported market valuation of approximately $204.88 billion with 2.53 billion outstanding shares. The company’s leadership has opted to commit its resources towards developing coronavirus therapy drugs. Merck & Co Inc (NYSE: MRK) stock dipped 1.15% during Monday’s pre-market to trade around $80.09. Notably, Merck stock closed Friday trading at $80.98, after dropping approximately 0.25% during the day. The drop on Monday was attributed to news that the company has stopped its coronavirus vaccine development. Apparently, its covid-19 vaccine candidates V590 and V591 failed to generate immune responses…

GOOGL Shares Up 1% in Pre-market, Google Announces Support for COVID-19 Vaccine Distribution

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The shares of Google were also boosted by the corresponding redesign of the search engine to feature COVID-19 related data. The shares of American multinational technology company, Alphabet Inc (NASDAQ: GOOGL), the parent organization of Google LCC, are seeing a slight boost by percentage gain as the company unveils a series of initiatives to support the ongoing vaccine distribution efforts. Per a report by 9to5Google, the search engine giant has pledged as much as $150 million in ad funding to help push accurate information about the ongoing vaccine program across…

PHG Slightly Up in Pre-market, Philips Reveals 7% Q4 Sales Growth

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Philips however in a statement revealed that, even though its net profit for 2020 rose, it saw “uncertainty” this year due to the COVID-19 pandemic. Dutch electronic giant Koninklijke Philips N.V. (NYSE: PHG) has announced that the company recorded an increase in its fourth-quarter net income in 2020. Philips revealed a 9.17% rise year-on-year to 607 million euros from 556 million in Q4 2019. According to a consensus provided by the electronic giants, analysts expected a 636 million euros net profit from the company. It’s earnings per share were also…

Coinbase to Offer Secondary Market on Nasdaq for Its Private Stock before IPO

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This move by Coinbase will allow all its current and past employees as well other private stockholders to sell their stock before the IPO on the Nasdaq Private Market. World’s largest cryptocurrency exchange Coinbase has informed its shareholders that the company is soon to launch a secondary market for its private stock on the Nasdaq Private Market. Further details of the process shall be available today i.e. Monday, January 25 by noontime, said Coinbase. “On Monday, January 25 at noon PT you will receive an email from the Nasdaq Private…

Big Cities in China Plans to Conduct More Pilot Testing of CBDC in 2021

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Shanghai Mayor Gong Zheng also declared the city’s support for the development of the digital yuan. In an effort to promote the development of the central bank digital currency (CBDC) in China, several cities in the country are planning to undergo pilot testing. The digital yuan testing by the Chinese cities will help promote the use of digital currency in 2021. In a report published on the 24th of January, Global Times revealed the cities’ plans on the pilot testing. The report also cited “observers” who said that the CBDC trial is…

GameStop Stock Up 44% in Pre-market as Speculative Traders Fuel GME Rally

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Besides being subjected to speculative traders, GameStop has experienced an increase in demand for its products since the onset of the coronavirus pandemic. GameStop Corporation (NYSE: GME) stock continues to experience heightened volatility as speculative traders fuel the ongoing bull rally. Notably, after closing Friday trading at $65.01, up 51.08%, GameStop stocks are up approximately 44% during Monday’s pre-market to trade around $94.11. GameStop’s market perspective changed after the coronavirus was declared a global pandemic earlier last year. As a result, GameStop shares surged approximately 1,418% last year according to…

Evergrande New Energy Vehicle Stock Jumps 51% After Company Raises $3.35B

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Last year, Evergrande showed off six new electric vehicles under a brand called Hengchi, with the hope of starting production this year. China Evergrande New Energy Vehicle Group Ltd (HKG: 708) stock closed the Hong Kong market on Monday trading at HK$ 45.35, up 51.67%. Elsewhere, China Evergrande Group (HKG: 3333) stocks closed the same market trading at HK$ 16.82, up approximately 7.72%. The sharp uptick in Evergrande related stocks is related to news that the company has raised approximately $3.35 billion through selling shares to private investors. Reportedly, Evergrande…