Deltastock on LinkedIn: GameStop Soars Again The shares of the video game retailer GameStop rose… (2024)

Jeff Bezos Returns to Richest Man Top SpotAmazon boss Jeff Bezos has returned to the richest man top spot, overtaking LVMH’s majority owner Bernard Arnault, according to Bloomberg Billionaires Index, a daily ranking of the world's richest people. Bezos’ fortune is estimated at $205 bln., while Arnault’s fortune has shrunk to $203 bln., mainly due to LVMH losing 3.68% in share value over the past week.Elon Musk ranks third, after losses of more than $30 bln., because of Tesla's shares falling almost 25% in one year. Fourth is Meta’s Mark Zuckerberg with an estimated fortune of $169 bln., Google co-founder Larry Page is in 5th place with $156 bln., and Bill Gates is sixth with $152 bln.The first woman on the list is Francoise Bettencourt Meyers, heiress to the L'Oreal group, with a value of $96.8 bln.Trade CFDs on Amazon: https://lnkd.in/ebQW3_4D59% of retail CFD accounts lose money.

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Best Buy Shares Rise, Despite Falling SalesThe shares of U.S. electronics retailer Best Buy rose around 1% in pre-market trading on Thursday, despite it reporting a 6.1% fall in quarterly comparable sales, surpassing analysts’ expectations of a 4.94% decline. Yet, the company beat Wall Street estimates for quarterly profit on Thursday and reported first-quarter adjusted EPS of $1.20 beating the expectations of $1.08. Revenue stood at $8.85 bln.Best Buy also maintained its annual comparable sales forecast of flat to a decline of up to 3% and said it hopes Americans would start buying new gadgets again after two years of abstaining from big-ticket discretionary purchases.Best Buy’s shares have dropped 8% since the start of 2024.Trade CFDs on Best Buy: https://bit.ly/3uo6Kj859% of retail CFD accounts lose money.

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BlackRock’s BTC ETF Becomes Largest in WorldThe BTC ETF of the BlackRock investment company has become the largest in the world, reports Bloomberg. It held $19.68 bln. worth of tokens on Tuesday, overtaking Grayscale Bitcoin Trust's (GBTC) $19.65 bln.The first spot BTC ETFs were approved by the U.S. Securities and Exchange Commission this January, after many years of resistance, and have attracted record investor interest, with the lion’s share going to BlackRock and Fidelity. GBTC was the first product for those who wished to invest in BTC without owning it and has attracted billions of dollars. However, with the launch of the spot BTC ETFs, due to its much higher fees, it has seen significant outflows of funds.Trade CFDs on BTC ETF: https://lnkd.in/dikpibNG59% of retail CFD accounts lose money.

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Microsoft Infuses Windows with AI, Sparks Privacy ConcernsMicrosoft revealed a new class of AI-imbued personal computers with the AI assistant Copilot, which can recall everything users have done on the PC, make screenshots every few seconds, compose documents and emails, make images and serve as a lifelike personal assistant at work or home. The new feature, called “Recall”, however, has sparked an outcry among the privacy campaigners who dubbed the forthcoming Copilot+ PCs a “privacy nightmare”.On their part, Microsoft assured Recall is an "optional experience" and it is committed to privacy and security, with users being able to “limit which snapshots Recall collects". "Recall data is only stored locally and not accessed by Microsoft or anyone who does not have device access," the firm said in a statement. Trade CFDs on Microsoft: http://bit.ly/3H38FMN59% of retail CFD accounts lose money.

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Tesla Shareholder Group Opposes Elon Musk’s $56 bln. PayoutA group of Tesla shareholders published a letter urging its peers to reject the $56 bln. pay package for CEO Elon Musk that the company’s board has asked investors to approve again.They note Musk is too distracted by the other five companies he controls and isn’t serving Tesla’s best interest. “Tesla is suffering from a material governance failure which requires our urgent attention and action,” the group said.Musk’s pay package grants him equity awards as Tesla’s market cap increased and as it hit certain operational targets – conditions already met. But this is the second time the Tesla board is tabling it for approval, after a Delaware judge ruled in January that it was unfair to shareholders who weren’t fully informed of key details.Trade CFDs on Tesla: https://lnkd.in/dYJQZQ5H59% of retail CFD accounts lose money.

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Apple Cuts iPhone Prices in ChinaApple has launched an aggressive discount campaign on its iPhone in China, reports Reuters. Some of the models will cost around $300 less from May 20 to May 28 in an attempt to fend off the strong competition of Huawei, which launched a new series of high-end smartphones in April. The previous discount campaign in February increased iPhone sales in China by 12% – a significant improvement from the first two months of the year when shipments slumped by 37%.The shares of Apple fell 1% in pre-market trading on Monday.Trade CFDs on Apple: https://lnkd.in/dQ33qwGp59% of retail CFD accounts lose money.

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Reddit Climbs on News of OpenAI PartnershipShares of Reddit rose over 14% on Friday, after the social network announced a partnership with OpenAI, on hopes this will draw in more users and advertising revenue. The stock was trading at $64.25 in pre-market trading, near the highest closing price of $65.11 hit in late-March, shortly after its IPO.The agreement will allow ChatGPT, OpenAI’s chatbot, to access content on Reddit’s website that can be used to create text from human prompts. As part of the deal, Reddit will also be able to add more AI-powered features to its website. OpenAI will also become an advertising partner for Reddit.Trade CFDs on Reddit: https://bit.ly/43shj2a59% of retail CFD accounts lose money.

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Facebook Parent Faces EU ProbeMeta, the parent of Facebook and Instagram, is facing a major EU investigation into alleged breaches of the bloc’s strict online content law over child safety risks.The European Commission said it is looking into whether Meta’s algorithms “may stimulate behavioural addictions in children, as well as create so-called ‘rabbit-hole effects’” and is concerned about its age verification procedures and privacy risks. “We want young people to have safe, age-appropriate experiences online and have spent a decade developing more than 50 tools and policies designed to protect them,” a Meta spokesperson told CNBC by email. “This is a challenge the whole industry is facing, and we look forward to sharing details of our work with the European Commission,” they added.Trade CFDs on Meta: https://lnkd.in/dDTFQazJ59% of retail CFD accounts lose money.

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Copper Futures Hit RecordCooper futures reached a record high on Wednesday driven by ever rising demand from data centres, the automotive industry and the continuing electrification of the global economy.According to FactSet copper prices on the NYMEX hit $5.02 per pound. So far this year, the red metal has risen over 25%.Copper is considered a bellwether of the economy’s health and is mainly used in the electrical energy industry, as well as for manufacturing electric vehicles, power grids and wind turbines. According to a Bank of America analysis, the demand from the automotive industry alone is set to rise by around 5% this year. Another major driver is the AI craze, which calls for the construction of more data centres.“With demand from EVs still growing, albeit at a slower pace, the focus has shifted towards the copper needed in the data center build-out,” the BofA note said.Trade CFDs on copper futures: https://bit.ly/3uMF4kO 59% of retail CFD accounts lose money.

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