InvestorPlace - Stock Market News, Stock Advice & Trading Tips DOGE is still one of the trendiest cryptocurrencies of 2021, but volatility and few places to spend it reduce Dogecoin's potential. The post Dogecoin Still Seems More Like a Craze Than a Currency appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now It doesn’t matter if you have $500 in savings or $5 million. Do this now. Top Stock Picker Reveals His Next Potential 500% Winner
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips While Cardano scores highly on its lack of environmental footprint, for right now, the speculative fervor isn’t considering this. The post Cardano Is Going Rogue Against Bitcoin’s Volatility appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now It doesn’t matter if you have $500 in savings or $5 million. Do this now. Top Stock Picker Reveals His Next Potential 500% Winner
The Dow Jones slipped while tech stocks got walloped again. Microsoft stock dropped amid reports Bill Gates left the firm's board amid a relationship probe.
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InvestorPlace - Stock Market News, Stock Advice & Trading Tips Given Microvision's Q1 earnings report, social media buzz will not be able to push MVIS stock to new highs in Q2 The post Microvision Stock Will Likely Remain Volatile for Some Time appeared first on InvestorPlace. 10 Dividend Aristocrat Stocks for Your Reliability Short List
(Bloomberg) -- Bitcoin is likely to remain under pressure for weeks after tumbling about 35% since hitting a record high last month, according to one of the biggest investors in the largest cryptocurrency.“I think we are going to consolidate for a while, four to six weeks,” Michael Novogratz, chief executive officer of Galaxy Digital LP, said in an interview, calling a $40,000-to-$50,000 price range fair.Bitcoin fell as low as $42,133 on Monday following a volatile weekend that saw Tesla CEO Elon Musk whipsaw investors with a series of tweets in the wake of his decision to stop accepting the coin for car purchases because of its environmental impact. Bitcoin’s digital ledger uses a worldwide network of computers to function, a process that’s become known as mining.“I took his mining comments at face value,” Novogratz said. “I don’t think that’s Bitcoin-specific, that’s everything specific: The gold market, YouTube -- all uses a lot of electricity. And Elon has businesses in clean energy.”The cryptocurrency industry is looking at its Environmental, Social, and Corporate Governance (ESG), and how to mitigate Bitcoin’s impact through things like carbon offset credits, he said.“Like all industries, ESG is important, and the crypto industry including Galaxy is going to address it,” Novogratz said.Bitcoin should still finish the year higher even after the recent slide, Novogratz said. The U.S. Securities and Exchange Commission could approval of a Bitcoin exchange-traded fund at the end of this year or early next year, he said.“My guess is the next catalyst is the ETF,” Novogratz said.While Bitcoin continues its gyrations, New York-based Galaxy -- which hopes to list on a U.S. exchange in the second half of the year -- reported strong first-quarter results Monday. Even after the recent volatility, Bitcoin is up around 45% for the year.Net comprehensive income, excluding non-controlling interests, increased to $860.2 million, from a net comprehensive loss of $26.9 million in the prior-year period. Counterparty trading volumes grew more than 290% year over year. Its preliminary assets under management rose to $1.27 billion as of March 31, a 58% jump from the prior quarter.Galaxy is involved in a slew of businesses, ranging from mining to helping companies with acquisitions to investing in startups. In May, Galaxy acquired crypto custodian BitGo for $1.2 billion. Erin Brown, who was previously chief risk officer at Jump Trading, was named chief operating officer Monday.Galaxy is currently trading more than 90 coins. The bulk of the portfolio is in 15 coins, however, including Bitcoin, Ethereum and some DeFi coins, used in decentralized-finance applications like peer-to-peer lending and payments.“Let’s not miss the big picture for the small picture,” Novogratz said. “We are going through a once-in-a-generational shift in this crypto blockchain evolution, where the financial infrastructure is starting to be rebuilt. That process is picking momentum.”For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
InvestorPlace - Stock Market News, Stock Advice & Trading Tips Here're seven ETFs that could help investors take take advantage of strong trends The post 7 ETFs To Buy if You Want To Try To Outperform Cathie Wood appeared first on InvestorPlace. More From InvestorPlace Stock Prodigy Who Found NIO at $2… Says Buy THIS Now It doesn’t matter if you have $500 in savings or $5 million. Do this now. Top Stock Picker Reveals His Next Potential 500% Winner
Fake promised giveaways by celebrities such as Telsa CEO Elon Musk are being used by scammers to cash in on interest in cryptocurrencies, the U.S. Federal Trade Commission said on Monday in noting a jump in complaints about cryptocurrency fraud since October. "People have reported sending more than $2 million in cryptocurrency to Elon Musk impersonators over just the past six months," the FTC said. Musk had been a supporter of cryptocurrencies but recently knocked dogecoin by calling it "a hustle" on national television.
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(Bloomberg) -- U.S. airports are the busiest since the pandemic began -- the strongest sign yet of a domestic travel revival that’s leading the way in jet fuel’s comeback this summer.Passengers checking in through security at U.S. airports surged to 1.85 million on Sunday, the highest since early March 2020, according to Transportation Security Administration data. The flurry of travelers making their way through airport terminals has steadily climbed for the past month and is now only about 30% lower than levels the TSA saw at the same time in 2019. And we haven’t even reached the U.S. Memorial Day holiday weekend yet, the unofficial start of summer travel.Most of the recovery has come from domestic flights, with international and business travel lagging, and the pace of overseas flights remaining weak until next summer, according to George Ferguson, senior aerospace and airline analyst at Bloomberg Intelligence. United Airlines Holdings Inc. CEO Scott Kirby said at a Bloomberg Businessweek virtual event on Monday that its domestic leisure travel business is more than 100% recovered from the pandemic.“We think this summer is going to be a good summer,” said Ferguson. “The cheaper you can deliver seat miles, the more capacity you put in the market place, the closer you are to 2019 levels.”The uptick in airport traffic in the world’s largest oil-consuming country is occurring as leisure travelers eagerly book trips after more than a year of virus-related lockdowns. A gauge of U.S. jet fuel demand has already more than doubled since the depths of the pandemic -- and is expected to surge 30% this summer from the first quarter -- a good sign for refiners who faced tough profit margins last year when an overwhelming amount of the fuel planes use piled up with airliners grounded.In the third quarter, jet fuel demand is projected to reach 1.47 million barrels a day, more than 50% higher than a year earlier, according to the U.S. Energy Information Administration.Airlines operating in the U.S. are responding to Americans’ renewed travel enthusiasm. United said Monday it will run 80% of its pre-pandemic U.S. schedule, while ultra-low cost carrier Allegiant Travel Co. said last week it plans to hire nearly 200 pilots in the coming months due to rising travel demand.But a comeback in long-haul flights is still a ways off. Any overseas flight recovery will likely be weak until the summer of 2022 as the varying pace of vaccinations and virus infections in other parts of the world lead to a mixed desire to travel, according to a Bloomberg Intelligence report.Plus, border restrictions will need to be loosened first. Currently, the European Union is working toward reopening the bloc to vaccinated travelers from countries with low infections rates, which would help support a global travel recovery.For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Airbnb, Inc. (NASDAQ: ABNB) shares were moving sharply lower Monday on above-average trading volume. What Happened: The lockup ...
Consumers have lost more than $2 million since October to scammers impersonating Tesla Inc. Chief Executive Elon Musk saying he would multiply cryptocurrency sent to his wallet and send it back, according to the Federal Trade Commission.
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