Author: Multibagger News

Amid a turbulent market environment, Jupiter Wellness Acquisition Corp. (CJET) stock has plummeted to a 52-week low of $2.38, marking a staggering -96.24% decline in value over the past year. This downturn reflects the challenges faced by companies in the current economic landscape, where volatility has become the norm. In recent developments, Chijet Motor Company, Inc. is at risk of delisting from Nasdaq due to non-compliance with market value requirements. To address this issue, the company has implemented a 1-for-30 reverse stock split in an effort to boost market price per share and attract investors. Additionally, Chijet Motor Company has…

SpaceX Challenges FAA’s $633,000 Fine Over Alleged Regulatory Violations: What It Means for Investors and the Future of Space Travel By David Shepardson WASHINGTON (Multibagger) – SpaceX has vehemently denied accusations from the Federal Aviation Administration (FAA) that it violated U.S. regulations during its rocket launches in June and July 2023. The agency recently proposed a fine of $633,000, a move that SpaceX CEO Elon Musk has called politically motivated. Key Points: The FAA claims SpaceX did not obtain necessary approvals for communication plan revisions and the addition of a new launch control room. SpaceX contends the FAA is not…

By Mehnaz Yasmin Renowned former Kansas City Federal Reserve president, Thomas Hoenig, warns that the recent decision by the U.S. central bank to slash interest rates by half a percentage point could reignite inflation risks. In an exclusive interview with the Multibagger Global Markets Forum, Hoenig expressed his concerns about the potential consequences of prioritizing employment over inflation control. The Federal Reserve initiated its easing cycle with the first rate cut since 2020, emphasizing its confidence in moving inflation towards the target of 2% while focusing on bolstering the labor market. However, Hoenig highlights the negative impact of a significant…

By Gram Slattery WASHINGTON (Multibagger) – In a surprising turn of events, Donald Trump’s joint appearance with Polish President Andrzej Duda in the battleground state of Pennsylvania has been canceled, according to a reliable source familiar with the Republican presidential candidate’s plans. Trump and Duda were set to attend the unveiling of a monument at a Polish-American Catholic shrine north of Philadelphia on Sunday. This event would have been a rare occurrence of a foreign leader appearing alongside a U.S. presidential candidate on the campaign trail. The reasons for the cancelation remain unclear, and it is uncertain if Trump and…

Breaking News: Cruise Resumes Testing Robotaxis in Sunnyvale and Mountain View After Settling Crash Controversy Cruise, the autonomous vehicle company, is making a comeback in Sunnyvale and Mountain View after a temporary halt in operations due to a pedestrian accident in October 2023. The company announced that it will deploy several human-driven vehicles in the two cities for mapping purposes, with plans to transition to supervised autonomous vehicle (AV) testing of up to five robotaxis later this fall. In a statement, Cruise expressed the importance of resuming testing in the Bay Area as they collaborate with California regulators and local…

Bank of America Names David Dowd as President of Asheville Market – Growth and Community Engagement Bank of America has appointed David Dowd as the new president of its Asheville market, where he will spearhead local integration and community engagement efforts. With his extensive connections in the Asheville community, Dowd is set to drive the bank’s growth and client support in the region. His background in Business Banking and previous leadership roles within the bank positions him as a strategic leader for Bank of America’s Asheville market. Dowd’s commitment to the community aligns with Bank of America’s broader strategy of…

The Federal Reserve’s Recent Rate Cut: Is a Recession Inevitable? In a recent note, BCA Research analysts expressed doubts about the U.S. economy’s ability to avoid a recession, despite the Federal Reserve’s unexpected 50-basis-point rate cut. This move, which kicked off the Fed’s easing cycle, exceeded expectations but was not clearly signaled in advance, a rare occurrence for the central bank. While Fed Chair Jerome Powell tried to downplay the idea of aggressive monetary easing at the press conference, BCA analysts remain skeptical. They highlighted concerns about the potential reacceleration of price pressures and the Fed’s dot plot projections, which…

Macquarie Group’s $79.8 Million SEC Settlement: What You Need to Know About Overvalued CMOs and Cross Trades Macquarie Group Fined $79.8 Million by SEC for Overvalued CMOs and Favorable Cross Trades Key Takeaways: Regulatory Action: Macquarie Group’s investment adviser arm, Macquarie Investment Management Business Trust, has agreed to pay $79.8 million to settle SEC charges. Overvaluation Issue: The firm overvalued approximately 4,900 collateralized mortgage obligations (CMOs) in 20 advisory accounts. Cross Trades: Hundreds of cross trades were executed in a manner that favored certain clients, minimizing losses for redeeming investors. Period of Misconduct: The irregularities occurred between January 2017 and…

As the U.S. Federal Reserve continues to make moves to support the economy, most major brokerages are predicting a cumulative 50 basis points reduction in interest rates in the upcoming November and December meetings. This comes after an unexpected rate cut in the September meeting, where Fed Chair Jerome Powell described it as a necessary “recalibration” due to declining inflation. The forecasts from major brokerages show varying estimates for the rate cuts, with expectations ranging from 50 to 125 basis points by the end of 2025. Analysts are closely monitoring the Fed’s decisions to stay ahead of any potential weaknesses…

Wildfires in Portugal: Aveiro District Flames Doused, Focus on 8 Blazes Elsewhere In the aftermath of deadly wildfires in central and northern Portugal, firefighters have managed to extinguish the flames in the Aveiro district, one of the hardest-hit areas. As of Thursday, attention has shifted to eight large blazes that are still raging in other parts of the country. The fires have caused widespread destruction, ravaging tens of thousands of hectares of forest and farmland, claiming seven lives, and leaving behind a trail of burnt cars, trees, and roads. Residents, such as Maria Rodrigues from the village of Macieira, are…