Foundation Robotics Labs, a startup founded by the CEO of bankrupt fintech firm Synapse, has recently come under scrutiny for its fundraising tactics. The company has been seeking funds from Silicon Valley investors by making bold claims about its relationship with General Motors (GM) and its imminent investments. However, these claims have been refuted by
The sell-off in GameStop shares on Wednesday afternoon was further intensified by a spike in trading volume in the call options owned by Keith Gill, also known as “Roaring Kitty.” Despite the lack of confirmation, options traders speculate that Roaring Kitty may have been behind the surge in trading activity, as he is a significant
Broadcom recently released its earnings report for the second fiscal quarter, surpassing analysts’ expectations. What caught the attention of many investors was the announcement of a 10-for-1 stock split, which is set to take effect on July 15. This news resulted in a significant boost in the company’s stock price, which surged by about 10%
The Federal Reserve recently held its two-day meeting and decided to keep its key interest rate unchanged, providing a signal that only one rate cut is expected before the end of the year. This decision came as a surprise to many market participants who were hoping for a more accommodative stance from the central bank.
Larry Ellison, the iconic chairman of Oracle, has seen his net worth skyrocket by nearly $19 billion as the software giant he founded continues to thrive. With Oracle forecasting double-digit revenue growth for the fiscal year, Ellison’s fortune has reached an impressive $170 billion, placing him among the world’s top five richest individuals. Despite stepping
The mortgage rates experienced significant fluctuations last week which led to a surge in total mortgage application volume. The average contract interest rate for 30-year fixed-rate mortgages saw a decrease during the week, only to jump back up after a stronger-than-expected monthly employment report on Friday. This increase caused rates to rise by 12 basis
Recently, the U.S. Treasury Department and Internal Revenue Service announced that the federal government has issued over $1 billion in tax credits as an upfront cash incentive to buyers of electric vehicles. Under the Inflation Reduction Act, approved tax credits for new and used Electric Vehicles (EVs) can now be delivered by car dealers at
In a shocking turn of events, Major League Eating has announced that they will be parting ways with 16-time champion Joey “Jaws” Chestnut ahead of this year’s Nathan’s Famous Fourth of July hot dog eating contest. This decision comes after Chestnut chose to represent a rival brand that sells plant-based hot dogs, ultimately leading to
As the 2025 deadline for the expiration of tax breaks enacted by President Trump approaches, both presumptive nominees, President Joe Biden and former President Donald Trump, have vowed to extend these tax breaks. However, the question that remains is how to pay for these extensions. The Tax Foundation has estimated that failing to extend these
Oracle recently announced that their fourth-quarter results fell short of Wall Street expectations. Despite this setback, the company’s shares jumped as much as 9% in extended trading after revealing new cloud deals with Google and OpenAI. Earnings per share came in at $1.63 adjusted, slightly lower than the $1.65 expected by LSEG consensus. Revenue for