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Gamestop, AMC Shares Plunge as ‘Roaring Kitty’ Keeps Posting Video Clips and Memes

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On Wednesday, while equity markets experienced a rise following the release of the consumer price index (CPI) report, Gamestop’s stock GME tumbled 34%, and AMC’s shares fell more than 25%. Concurrently, the well-known ‘Roaring Kitty’ continued to share video clips of classic films, albeit with slight modifications. Meme Stock Slide: Gamestop, AMC Take Hits On … Read more

US Inflation Data Indicates Slight Cooling in April; Gold, Silver, and Cryptos Climb

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The latest report from the U.S. Labor Department’s Bureau of Labor Statistics reveals that the consumer price index (CPI) for April climbed by 0.3%. Over the last 12 months, the CPI increased by 3.4%, primarily driven by higher costs for shelter and gasoline. Relief Rally in Financial Markets as April CPI Data Shows Subdued Inflation … Read more

Federal Reserve Raises Interest Rate by 25bps, Insists ‘US Banking System Is Sound and Resilient’

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The U.S. Federal Reserve, in conjunction with the Federal Open Market Committee (FOMC), announced on Wednesday that the central bank would raise the federal funds rate by 25 basis points (bps), as was widely expected by the market. This marks the tenth consecutive occasion in which the Fed has raised interest rates since the initial … Read more

US Banking Industry Still Struggling as First Republic Bank Shares Plummet by Over 30%

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In the midst of a tumultuous week, First Republic Bank is struggling to regain its footing in the financial world. Reports have surfaced that the bank is poised to enter government receivership due to a massive outflow of $100 billion in customer withdrawals last month. This has prompted investors to flee the bank, causing its … Read more

Citi Analysts Predict ‘Near-Perfect Conditions’ for Silver’s Ongoing Bull Market; Experts Suggest $30 an Ounce a Possibility

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The price of silver fell 2.85% against the U.S. dollar last week. However, taking a broader perspective, the precious metal has made significant gains this year. Over the past six months, silver has risen more than 29% against the greenback, and as of April 22, 2023, it was hovering around $25.08 per ounce. Citi analysts … Read more

Warren Buffett Likens Bitcoin to Gambling and Chain Letters in Recent Interview

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Finance mogul Warren Buffett, one of the most successful investors in history, discussed bitcoin during an interview on CNBC’s Squawk Box on April 12. As he has done in previous interviews, the business magnate likened bitcoin to a gambling scheme and chain letters he received as a child. Buffett Shares His Two Cents on Bitcoin, … Read more