Author: Multibagger News

Archegos Capital Management Founder Convicted of Market Manipulation | Sung Kook “Bill” Hwang Found Guilty on 10 of 11 Counts In a groundbreaking development, Archegos Capital Management founder Sung Kook “Bill” Hwang has been convicted of market manipulation in a criminal trial that shook the financial world. Prosecutors accused Hwang and his deputy, Patrick Halligan, of lying to banks to obtain billions of dollars to artificially inflate stock prices of multiple companies. The trial, which began in May, culminated in Hwang being found guilty on 10 out of 11 counts, while Halligan was convicted on all counts he faced. The…

Title: Breaking News: US Resumes Shipping 500-Pound Bombs to Israel – What Does This Mean for Financial Markets? As the world’s best investment manager and financial market journalist, I have exclusive insight into the recent announcement that the US will be resuming the shipment of 500-pound bombs to Israel. This news has significant implications for global geopolitics and financial markets. The decision to resume shipping bombs to Israel is likely to have an impact on investor sentiment and market volatility. Geopolitical tensions in the Middle East can lead to uncertainty in the markets, causing fluctuations in stock prices and currency…

Bitcoin Price Roller Coaster: $1 Million BTC Whale Story on Bitfinex Exchange The price of Bitcoin (BTC) has been on a wild ride lately, with a significant drop of over 15% last week leading to more uncertainty in the market. After dropping from $64,000 to just under $54,000 in five days, Bitcoin has seen buyers trying to recover the losses. Despite briefly hitting $59,000, Bitcoin has struggled to maintain that price level consistently. Currently trading at $58,465, the cryptocurrency has managed to recover by 6.5% since the start of the week. In the midst of these market fluctuations, Samson Mow,…

GoldenTree Asset Management LP Makes Significant Purchase of Mallinckrodt Shares – What Does This Mean for Investors? In a recent transaction, GoldenTree Asset Management LP, a renowned investment firm, acquired 13,300 shares of Mallinckrodt plc at $54.50 per share, totaling $724,850. This move has caught the attention of investors, as it showcases the firm’s confidence in the pharmaceutical sector. GoldenTree Asset Management LP is known for actively managing various funds and separate accounts, and this purchase is part of its investment activities. While the firm and its related entities disclaimed beneficial ownership of the shares, this transaction signals their optimism…

Breaking News: Nasdaq and S&P 500 Surge to Record Highs on Wall Street Heavyweights’ Gains As the world’s best investment manager, I am thrilled to report that the Nasdaq and S&P 500 have hit record highs, driven by impressive gains in Nvidia and other Wall Street heavyweights. This surge comes ahead of crucial inflation data and quarterly earnings reports scheduled for this week. It’s worth noting that this marks the fifth consecutive day of intraday record highs for both the S&P 500 and the Nasdaq. The S&P 500 crossed the 5,600 mark for the first time, fueled by growing expectations…

The U.S. Treasury’s Top Economic Diplomat Warns of China’s Excess Industrial Capacity Threatening U.S. Jobs Expert analysis by renowned financial journalist David Lawder reveals that the U.S. may need to implement innovative measures beyond tariffs to combat China’s overcapacity issues. Jay Shambaugh, Treasury Undersecretary for International Affairs, emphasized the urgent need for creative solutions to protect American industries and workers. Shambaugh highlighted the disconnect between China’s production and global demand, leading to an influx of exports that pose a threat to jobs in the U.S. and other countries. He suggested that traditional trade defense measures may not be sufficient in…

Apple Inc. Sets Ambitious Target to Ship 90 Million iPhone 16 Units in Late 2024: What This Means for Investors Introduction: In a bold move, Apple Inc. (NASDAQ: AAPL) is gearing up to ship at least 90 million units of its much-anticipated iPhone 16 in the latter half of 2024. This strategy aims to capitalize on the growing demand for AI-enhanced smartphones, despite a turbulent 2023. Key Highlights: Increased Shipment Targets: Apple aims for a 10% increase in new iPhone shipments, targeting 90 million units of the iPhone 16 compared to the 81 million iPhone 15s shipped in 2023. AI…

Alphabet Abandons Plans to Acquire HubSpot, Shares Plummet In a shocking turn of events, Google-parent Alphabet has decided to pull out of the deal to acquire online marketing software company HubSpot. This news, reported by Bloomberg News, has sent HubSpot shares tumbling by nearly 12% in afternoon trading, while Alphabet shares have seen a modest 1.2% increase. Earlier in April, Multibagger had hinted at Alphabet’s interest in HubSpot, with sources suggesting that talks were underway. However, it seems that the two companies were unable to progress to detailed discussions around due diligence. Both Google and HubSpot have remained tight-lipped about…

The Shocking Truth Behind Guo Wengui’s Billion Dollar Investment Scam | Luc Cohen | Multibagger An exiled Chinese businessman, Guo Wengui, is facing charges of racketeering and fraud after allegedly using funds raised from online followers for fake investments in luxury items, including a red Lamborghini and a yacht. In a dramatic closing argument, prosecutor Ryan Finkel detailed how Guo promised followers on social media that they would not lose money in his schemes, ultimately raising over $1 billion through bogus investment and cryptocurrency ventures. Despite pleading not guilty to the charges, evidence presented at the trial included a red…

Revolutionizing Finance: Usual Labs Launches Public Pre-Launch Phase with $75m TVL Commitments Paris, France, July 10th, 2024, Chainwire – Usual Labs, the pioneering company behind Usual, a groundbreaking protocol merging traditional and decentralized finance (DeFi) through its first USD0 stablecoin, has announced the start of its public pre-launch phase. Following a successful private launch that secured $75 million in Total Value Locked (TVL) commitments from over 180 prominent DeFi leaders and investors within a month, Usual is set to challenge industry giants and establish itself as the leading DeFi-native stablecoin. Innovative Financial Solution Usual stands as a secure, transparent, and…