Author: Multibagger News

As the world’s best investment manager and financial market’s journalist, I bring you the latest insights on the price of Bitcoin (BTC), the leading cryptocurrency by market capitalization. Bitcoin is currently on the verge of a critical test as it approaches a key resistance level, sparking high market speculation among traders and investors. Despite recent volatility, Bitcoin’s price is showing signs of stabilization, setting the stage for potential breakthroughs or pullbacks in the coming days. Market analysts have pinpointed several crucial resistance levels that Bitcoin must surpass to maintain its upward momentum. After a dip to $54,278 earlier this week,…

Geoffrey Gwin Appointed as CEO of Eastside Distilling, Inc. – NASDAQ:EAST Eastside Distilling, Inc. (NASDAQ:EAST) has made a significant announcement regarding the appointment of Geoffrey Gwin as its Chief Executive Officer, effective January 1, 2024. Gwin will also take on the roles of Chief Financial Officer and Chief Compliance Officer without any additional remuneration, as per an SEC filing. According to the terms of the employment agreement dated July 3, Gwin will receive an annual salary of $300,000 for the first year, with subsequent reviews and adjustments by the Compensation Committee. His leadership role will extend for three years, during…

Morgan Stanley Analysts Question Tesla’s Business Segments, Sees Energy as Key Driver In a recent report, Morgan Stanley analysts raised concerns about the relative value of Tesla’s business segments compared to its core auto business. The US investment bank highlighted the growing interest in Tesla Energy, driven by “Gen AI acceleration spurring a multigenerational increase in energy demand” and Tesla’s impressive performance in Tesla Energy storage deployments in the second quarter. As a result, Morgan Stanley adjusted its valuations, with Tesla Energy now representing a significant portion of Tesla’s overall value. They have increased their price target for Tesla Energy…

Deutsche Bank’s Global Mining & Commodities Survey: Gold Takes Center Stage in Short Term In the latest report from Deutsche Bank, a shift in investor preferences has been revealed, with gold emerging as the top choice for the near future and remaining a favorite for the medium term. The survey highlights concerns about a slowing Chinese economy and a decrease in investor conviction for the energy transition’s impact, leading to a growing preference for earlier cycle commodities like iron ore and coal. Despite being the consensus long-term pick for copper, investors are cautious about potential slowdowns in electric vehicle and…

Groupon Inc. Shares Surge: Analysts and Activist Investors Back Turnaround Strategy NASDAQ: GRPN – Strong Buy Signals from Wall Street and Major Stakeholders Shares of Groupon Inc. (NASDAQ: GRPN) have surged nearly 7% by midday Wednesday, as Wall Street analysts and major shareholders express robust confidence in the company’s turnaround strategy. Northland Capital Markets Initiates Coverage with Outperform Rating and $22 Price Target Today, Northland Capital Markets initiated their coverage of Groupon with an ‘Outperform’ rating and a $22 price target, suggesting over 50% upside potential from current levels. Analysts at Northland cite mounting evidence that Groupon is at the…

Breaking News: FTC to Sue UnitedHealth, Cigna, and CVS Health Over Drug Pricing Tactics In a shocking development, the U.S. Federal Trade Commission is reportedly gearing up to take legal action against UnitedHealth, Cigna, and CVS Health, the three largest pharmacy-benefit managers, over their questionable tactics in negotiating drug prices, including insulin. According to the Wall Street Journal, the agency is preparing to file lawsuits targeting the business practices related to rebates brokered with drug manufacturers. A spokesperson for CVS Health has already come out swinging, stating that any action to limit the use of these negotiating tools would only…

Ozy Media Co-Founder Carlos Watson Accused of Massive Fraud, Hiding Debt, Prosecutor SaysBy Jack QueenLearn how Ozy Media co-founder Carlos Watson allegedly misled investors about the company’s revenue to conceal its overwhelming debt, as a federal prosecutor presents evidence of fraud during his trial in Brooklyn, New York. Find out the impact of falsified financial information on Ozy’s downfall and the legal consequences faced by Watson and his associates.Stay informed about the latest developments in the financial market and understand how fraudulent practices can affect your investments and financial decisions. Trust the experts to guide you through the complexities of…

Title: Peter Schiff Can’t Escape Bitcoin Ad in Istanbul – Is BTC About to Surge Again? As the world’s best investment manager and financial market’s journalist, I can confidently say that Peter Schiff’s encounter with a Bitcoin advertisement in Istanbul is a clear sign that even the biggest critics of BTC can’t escape its influence. Despite Schiff’s long-standing doubts about Bitcoin, the cryptocurrency market is showing signs of stability and potential for another surge. In recent days, Bitcoin has been hovering around the $58,000 mark, with the price fluctuating between $56,000 and $60,000. The technical analysis indicates that Bitcoin has…

Brady Corporation Announces Acquisition of Gravotech Holding for $130 Million USD Brady Corporation (NYSE:BRC), a global leader in industrial and safety printing systems, has entered into a definitive agreement to acquire Gravotech Holding, a French company specializing in engraving materials and marking solutions. The cash purchase price for this acquisition is set at €120 million (approximately $130 million USD). The agreement, which follows a binding Put Option Letter signed in March 2024, is expected to close on August 1, 2024, pending customary working capital adjustments. Brady Corporation will finance the acquisition using cash on hand and borrowings under its existing…

The Best Investment Manager’s Insight: Oil Prices Rise on Strong Refining Activity, Analysts Expect Bullish Trend Ahead By the World’s Best Investment Manager and Financial Market’s Journalist HOUSTON (Multibagger) – Oil prices saw a surge on Wednesday following a significant jump in U.S. refining activity, leading to a larger draw from gasoline and crude inventories than expected. Brent futures climbed 0.7% to $85.25 a barrel, while U.S. West Texas Intermediate (WTI) crude rose by 0.97% to $82.20 a barrel. The unexpected draw in U.S. crude inventories and gasoline stocks, along with minimal damage from Hurricane Beryl, have driven the upward…