The Metaverse is ready now, said Epic Games’ founder and CEO Tim Sweeney at the Game Developer’s Conference, which wrapped last week. Following a slew of announcements about a massive revenue share with users who create engaging content, bringing the power of its Unreal Engine 5 to Fortnite, and creating Fab, the world’s biggest 3D More
Topline Shares of Hong Kong fintech firm AMTD Digital continued to plunge on Thursday, crashing for a second day in a row after rising more than 21,000% since its July IPO, with experts calling it a new meme stock and warning investors to stay away from the stock as its valuation looks like “an absolute… More
Topline Shares of Facebook parent Meta fell over 25% on Thursday—erasing over $230 billion in market value for its worst trading session in history—after the company’s dismal quarterly earnings report showed declining users and surging expenses related to the company’s metaverse project. Facebook’s stock had its biggest drop ever, losing a quarter of its value… More
If there’s one truism in digital advertising, it’s that there’s Google, there’s Facebook, and then there’s everyone else. After all, the adtech duopoly raked in 65% of digital ad revenue in 2021, according to eMarketer. But could we be on the cusp of a reversal of this decade-long trend? According to a November eMarketer report,… More
People attending a Seattle City Council meeting hold signs that read “Tax Amazon, Housing for All,” … [+] and “No Tax on Jobs” listen to public comment on the debate over a possible council vote whether or not to repeal of a tax on large companies such as Amazon and Starbucks that was intended to… More
As Zoom Video Communications’ stock has skyrocketed, so too has the fortune of its billionaire … [+] founder. Victor J. Blue/Bloomberg High-flying video conferencing service Zoom, which has seen skyrocketing demand during the coronavirus pandemic, is now worth more than ExxonMobil, one of the world’s largest oil and gas companies. As of 2:30 p.m. ET,… More
Intel’s stock tumbled nearly 11% on Friday, lowering Moore’s net worth to under $10 billion. Justin Sullivan/Getty Images Gordon Moore, the world’s 48th-richest person, shed $1 billion from his fortune on Friday as Intel INTC stock plummeted on the back of disappointing third-quarter earnings. Shares of Intel, which Moore cofounded in 1968, fell nearly 11%… More
Topline President Trump made over $11 million endorsing two multi-level marketing companies in the 2000s for which he and his children would later be sued for fraud, according to the New York Times, which revealed for the first time how much money the future president received for hawking the MLMs, and that those two endorsements… More
TOPLINE Though many on Wall Street were surprised by Walmart’s recent announcement that it has teamed up with Microsoft in a bid to buy TikTok, a deal would allow the retailer to leverage the social media app to reach younger consumers and build its e-commerce platform, analysts say. A deal for TikTok could be a… More
Expectations for Nvidia Corp. (NVDA) couldn’t have been higher going into its fiscal second-quarter 2021 results, and now the stock may feel the effect of the hangover. The stock’s price nearly tripled off the March lows, as investors’ attention turned to companies likely to capture market share during the pandemic. As a result, the equity… More
TOPLINE The S&P 500 is officially out of its 2020 bear market after hitting a new record high on Tuesday, and the massive rebound has been led by energy, homebuilding and retail companies whose shares have more than doubled over the last five months, according to Bloomberg data. Whirlpool’s logo on the front of a… More
TOPLINE Apple hit a new milestone on Wednesday, becoming the first publicly traded U.S. company to reach a market capitalization of over $2 trillion and doubling in valuation over the last two years. Apple CEO Tim Cook. Taylor Hill/WireImage KEY FACTS The iPhone maker’s stock is up almost 55% so far in 2020, and shares… More
