To The Moon

Chipmaker’s revenue beats have made projections difficultRecent estimates have deviated from results by an average 12%Nvidia Corp. is the most expensive stock in the S&P 500 Index, with its shares trading for roughly 23 times the company’s projected sales over the next 12 months.But there’s a problem with that valuation. In the age of the artificial intelligence boom, no one can figure out what the chipmaker’s revenues are actually going to be — not the Wall Street analysts covering Nvidia or Nv

Struggling lender names Joseph Otting chief executive officerEx-Treasury secretary says lender now has sufficient capitalCommercial real estate lender New York Community Bancorp received an equity inv

Charles Munger, the alter ego, sidekick and foil to Warren Buffett for almost 60 years as they transformed Berkshire Hathaway Inc. from a failing textile maker into an empire, has died. He was 99.He d

Singapore and New York, Nov 27, 2023 — UP Fintech Holding Limited ("UP Fintech" or the "Company", Nasdaq: TIGR, and all its subsidiaries and consolidated entities), a leading online brokerage firm com

Citi analyst Alicia Yap downgraded shares of Sea Ltd. to Neutral from Buy, lowering the price target to $50 from $98 per share in a note Wednesday. The analyst told investors that the company's strategy shift amid intensified competition raises uncertainty.Sea reported a mixed 2Q23 on Wednesday, missing earnings expectations. However, the company's gaming operating metrics like QAU and paying users and e-commerce metrics like gross order growth and active users achieved sequential growth. "Management expects ongoing reaccelerated investment could lead to Shopee EBITDA and group level profit reverting to loss in future quarters," the analyst wrote. "Although we agree it is the right approach to defend market share amid intensified competition, no clear direction of GMV growth and management's tolerance of turning back to loss-making suggest to us that there is a lack of visibility on the investment's effectiveness and a brutal battle could be just starting."Citi believes investors' con

The top Democrat on the House Financial Services Committee said Wednesday she is "deeply concerned" with PayPal's decision to launch a stablecoin before the government establishes regulations for the assets."Given PayPal's size and reach, Federal oversight and enforcement of its stablecoin operations is essential in order to guarantee consumer protections and alleviate financial stability concerns," Rep. Maxine Waters said in a statement.Waters also criticized Republicans on the House committee for advancing a stablecoin bill last month without her support, urging them to come back to the negotiating table.U.S. policy makers' have worried for years that dollar-based stablecoins could threaten the financial system if they lose their 1-to-1 peg to the greenback, prompting investors to demand their money back en masse. Lawmakers have also voiced concerns related to money laundering, privacy and consumer protection.PayPal's size could subject it to heightened scrutiny from lawmakers and

The big news in crypto this week is that fintech giant PayPal is making good on its longtime plans to launch a stablecoin. After getting cold feet last year amid harsh market and regulatory conditions, PayPal chose Monday to announce PYUSD—a digital token on the Ethereum blockchain that U.S. customers can use for payments or transfers.While the news spurred a modest jump in PayPal's share price, not everyone was thrilled. Some were quick to point out that the software supporting PYUSD was written in relatively old code, and that the project will be highly centralized —even allowing PayPal to pause transfers and freeze addresses at will. As such, the crypto community will be reluctant to embrace it.