Tag: Stock

Crypto bank Silvergate ranks as the second most-shorted stock on Wall Street

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Crypto bank Silvergate Capital Corp. stands in the second position as most-shorted stock in the United States, with over 72.5% of its shares shorted, according to the latest Short Interest Reporting from Feb. 9.  The Financial Industry Regulatory Authority (FINRA) collects and publishes twice a month short interest positions of all equity securities. A short position means investors and traders believe the price of a security, such as a stock, will decrease in value. A short seller profits from the price decline of a security. At the time of writing,…

Coinbase (COIN) Stock Pops Up 26% after Dismissal of Lawsuit

The Coinbase stock has rallied by more than 142% year-to-date as of Thursday’s closing. Stocks of several crypto firms witnessed a healthy recovery last month. On Thursday, February 2, public-listed crypto exchange Coinbase Global Inc (NASDAQ: COIN) saw its stock price shoot up by a staggering 26% after the dismissal of a class-action lawsuit against the company. As of yesterday’s closing, the stock price was trading at $81.46 The lawsuit filed in federal court in New York in October 2021, accused Coinbase of selling 79 digital assets as unregistered securities.…

Meta Surpasses Revenue Estimates in Q4 2022, META Stock Up 19%

At the end of this year, Meta expects its total expense to fall between $89 billion and $95 billion. Tech giant Meta Platforms Inc (NASDAQ: META) exceeded analysts’ estimation in revenue during 2022 Q4, according to its earnings report. While there was a prediction of $31.543 billion in revenue, the company reported $32.17 billion. Despite beating revenue projections in 2022 Q4, Meta saw its revenue for the quarter drop 4% YoY. This represents the straight third quarter of declining sales for the company. Meta Releases Earnings Report for 2022 Q4…

Snap Stock Losses 14% as Company Reports Weak Revenue in Q4 2022

In 2022, Snap experienced a rocky year from Q1 to Q4 due to the weak economy that caused many businesses to cut back on digital ad budgets. Social media company Snap Inc (NYSE: SNAP) missed its earnings for Q4 2022, causing its share to decline more than 14% in reaction to the news. While earnings per share were 14 cents versus the expected 11 cents, the company posted a weak revenue of $1.30 billion against expectations of $1.32 billion. Also, Snap said the average revenue per user in Q4  2022…

German Stock Exchange Boerse Stuttgart’s Digital Business Gets New Boost

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Boerse Stuttgart, Germany’s second largest stock exchange Stock Exchange A stock exchange, also known as a securities exchange or bourse represents is a facility where stockbrokers and traders can buy and sell securities.This includes shares of stock, bonds, exchange-traded funds (ETFs), or other financial instruments. By extension, stock exchanges can also provide facilities for the issue and redemption of such securities and instruments and capital events including the payment of income and dividendsStock exchanges have developed into a permanent fixture in the fin A stock exchange, also known as a…

BuzzFeed to Leverage OpenAI to Write Stories, BZFD Stock Shoots 120%

BuzzFeed stock zoomed more than 200% during Thursday’s trading session as the media house announced the use of OpenAI tools for content production. On Thursday, January 26, BuzzFeed (NASDAQ: BZFD) said that would be using OpenAI, the creators of the popular ChatGPT platform, and leverage artificial intelligence to create content for its audience. This is the first big announcement by a media company to leverage the new tech into their business which has positively influenced BuzzFeed stock. ChatGPT has created a major buzz recently in the market and has stunned…

Rocket Lab Stock Up 4% after Launching First Space Mission on US Soil

Rocket Lab has started the year on a very promising pedestal. American space and rocket engineering firm, Rocket Lab USA Inc (NASDAQ: RKLB) is seeing impressive growth in its stock price after it successfully completed its first space mission on US soil. As reported by Reuters, the launch took place on Tuesday from the firm’s new launch pad at the NASA-operated Wallops Flight Facility on Wallops Island, Virginia. The company made use of its flagship Electron Rocket, a 40-foot tall rocket that is replaceable. The company’s Virginia mission was initiated…

Surojit Chatterjee to retain 249,315 shares of Coinbase stock after departing company

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Surojit Chatterjee, the former chief product officer at Coinbase, will officially leave the company on February 3rd after reportedly making an estimated $105 million in stock sales.  According to disclosures filed with the Securities and Exchange Commission, Chatterjee will also retain 249,315 shares of Coinbase stock. At the time of publication, Coinbase stock was valued at $54.28 per share, by Google Finance.  Chatterjee joined Coinbase from Google in February 2020 with a salary of just under $1 million per year. In recognition of Chatterjee’s contributions to the company, Coinbase and…