Virgin Galactic plunged by 19%

Virgin Galactic shares plunged by more than 19% after US markets opened. This is due to a net loss of $111 million for Q2 this year, missing estimates, and a 36% decline in revenue. The big letdown was another postponement of its commercial space service from 2023's Q1 to Q2.

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Virgin Galactic plunged by 19%

Virgin Galactic shares plunged by more than 19% after US markets opened. This is due to a net loss of $111 million for Q2 this year, missing estimates, and a 36% decline in revenue. The big letdown was another postponement of its commercial space service from 2023's Q1 to Q2.

AMTD Digital is crashing

Amid the huge popularity increase of AMTD Digital (HKD)and growth by more than 10,000% in just weeks, HKD found its peak and is now down by almost 80% from its all-time high level. Beware of higher volatility.

HKD stock surged by 10,000% in 2 weeks

On July 15 of this year, the HKD IPO debuted, and since then, it has had an explosive surge. In fact, since its first public offering, the stock price of AMTD Digital (NYSE: HKD) has increased by more than 10,000%.

This will be a trap

CIO of Morgan Stanley, Mike Wilson, has recently stated that the current situation in equities is far from reaching the trend lows. Most of the major indices and individual stocks saw gains after the Fed's decision this week, but Wilson is not impressed. He believes that the "bear market might be close to the end, but needs to have a final move."

Hong Kong stocks in red

The biggest monthly drop in over a year can now be seen when looking at Hong Kong stocks. This is mostly due to major losses of the biggest tech firms in the country. For instance, Tencent, internet gaming and social media giant, has posted losses of over 4.3 %. Hang Seng Tech Index, tracking major tech firms in Hong Kong, lost almost 5 %.

Meta with first ever quarterly sales decline

Meta, previously known as Facebook, has seen its revenue slipped to 28.8 billion dollars in the second quarter of 2022 and miss the analysts estimate of 28.9 billion dollars. According to the Meta's statement, this was due to advertisers' shrinking budgets. The shares of Meta dropped 4 % after the announcement.

More market movers

Virgin Galactic plunged by 19%

Virgin Galactic shares plunged by more than 19% after US markets opened. This is due to a net loss of $111 million for Q2 this year, missing estimates, and a 36% decline in revenue. The big letdown was another postponement of its commercial space service from 2023's Q1 to Q2.

Pimco clients withdrew $29 billion

Clients of Pimco, a well-known asset management company, withdrew $29 billion in three months from Bond funds. Interest rate hikes all over the world hit bond markets hard, and clients pulled massive amounts of money as a result.

AMTD Digital is crashing

Amid the huge popularity increase of AMTD Digital (HKD)and growth by more than 10,000% in just weeks, HKD found its peak and is now down by almost 80% from its all-time high level. Beware of higher volatility.

BlackRock partnered with Coinbase

BlackRock, one of the world's largest asset management companies, has teamed up with the cryptocurrency exchange Coinbase. They will provide institutional investors with direct access to cryptocurrencies, which will be provided via Coinbase Prime.

GBP interest rates raised to 1.75%

Following the widely anticipated move by the Bank of England to raise interest rates to 1.75 percent from 1.25 percent, the British pound declined against the dollar and dropped below the $1.21 mark. This drove borrowing prices to their highest level since 2009.

OPEC+ with a decision

As per todays meeting, OPEC+ will add only 100 000 barrels a day of oil in September. This is the smallest quota ever in percentage terms. This could be a sign of lowering pressure on the price of oil.

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World food prices gradually falling

World food prices gradually falling

World food prices fell by almost 9% in July. They showed the sharpest month-on-month decline in almost 14 years.
From $7.8 to $2 555 in 17 days – the story of AMTD

From $7.8 to $2 555 in 17 days – the story of AMTD

AMTD Digital is a Hong Kong-based company that came out of nowhere and took over the American stock exchange with massive gains.
Big investments in China’s energy infrastructure

Big investments in China’s energy infrastructure

China's largest power company will soon begin construction of new long-distance transmission lines worth $22 billion.
GBP/USD drops after dovish BoE decision

GBP/USD drops after dovish BoE decision

The Bank of England hiked rates to 1.75%, but the Pound declined anyways as the central bank indicated an incoming recession.