Donald Trump's $2 billion stock windfall, Bitcoin falls, Super Micro Computer tanks: Markets news roundup

Former President Donald Trump could offload his 114.75 million shares of Trump Media & Technology Group, or about 60% of the company’s outstanding stock, next month. While the move would line his pockets, it could spell trouble for the already troubled stock.

Read More

Bitcoin fell below $60,000 again on Wednesday, triggered by a significant amount of tokens transferred to popular crypto exchanges. This reversed the gains made over the weekend following the Fed Chair’s speech. The leading cryptocurrency decreased by more than 5% in the past 24 hours, dropping below $59,000.

Read More

Trump Media & Technology Group stock hit a fresh post-merger low Wednesday, as its shares dipped below $20 for the first time since going public.

Shares of Trump Media, the company behind former President Donald Trump’s social media network Truth Social, fell roughly 6%, bottoming out at $19.38 per share. In the five months since its debut on the Nasdaq under the ticker DJT, the company has seen its market value plunge 66%.

Read More

Just a day after a short-seller published a scathing report accusing Super Micro Computer (SMCI) of accounting red flags and questionable business dealings, the firm said it would delay filing its next financial reports.

Read More

Mortgage rates declined for the fourth-consecutive week, in what should be a positive for both homeowners and homebuyers. But the drop in rates has, so far, done little to spur sales.

Read More

Despite a positive second-quarter earnings report, Abercrombie & Fitch (ANF) stock took a more than 17% dive Wednesday after the CEO warned of an “increasingly uncertain environment.”

Read More

Berkshire Hathaway (BRK.A) CEO Warren Buffett just got an early birthday present.

Berkshire Hathaway, Buffett’s sprawling Omaha-based conglomerate, reached a market capitalization of $1 trillion Wednesday, becoming the first U.S. company outside of the tech sector to reach the milestone.

Read More

Shares of Dollar General (DG) plummeted 29% on Thursday, heading toward what could be the company’s worst single-day performance on record. The sharp decline followed the discount retailer’s fiscal 2024 second-quarter earnings report, which revealed both profit and sales figures that fell short of market expectations.

Read More

What happens if the Bank of Japan raises interest rates and the yen carry-trade fallout continues? Jeff Weniger of WisdomTree breaks it down

Former President Donald Trump’s economic plan would be a “disaster” for the U.S., and implementing his proposed tariffs on Chinese imports would make inflation surge, according to a Nobel-prize winning economist.

Read More