Author: Multibagger News

PDD Holdings’ Stock Crash: A $4 Billion Lesson for Hedge Funds and Investors – An In-Depth Analysis By Summer Zhen HONG KONG (Multibagger) – A 33% plunge in PDD Holdings’ shares this week has resulted in multi-billion-dollar losses for hedge funds heavily invested in the Chinese e-commerce giant. The Numbers Behind the Losses PDD Holdings, the parent company of budget retailer Temu, has seen its U.S.-listed shares fall by 33% this week alone, and a staggering 30% throughout the third quarter. According to WhaleWisdom, a platform that tracks and analyzes U.S. 13F filings, global hedge funds held approximately 102.8 million…

Uber’s CEO Boldly Eyes Market Expansion in South Korea Amidst Kakao Dominance SEOUL (Multibagger) – Uber Technologies Inc (NYSE: UBER) CEO, Dara Khosrowshahi, reaffirmed the company’s dedication to establishing a stronger foothold in the South Korean market on Friday, positioning itself against the local tech giant, Kakao. Uber plans to engage more taxi drivers to fuel its growth in a competitive landscape. "Taxi drivers using the Uber app will earn more and stay busier," Khosrowshahi highlighted during a press briefing in Seoul. "Our growth rate is outpacing the market significantly, and we are confident that our market share will continue…

Asian Stocks Rise as Dollar Faces Worst Monthly Performance in Nine Months Asian stocks are on the rise in August as the dollar is looking at its worst monthly performance in nine months, with the Federal Reserve expected to cut interest rates next month. The release of the U.S. core personal consumption expenditures (PCE) price index and euro zone inflation data will offer further insight into the rate outlook across major economies. MSCI’s broadest index of Asia-Pacific shares outside Japan is up 0.44%, with U.S. stock futures also showing positive momentum. Solid growth in the world’s largest economy has overshadowed…

By the World’s Best Investment Manager, Financial Market’s Journalist, and SEO Mastermind Are you aware of the dark reality of enforced disappearances in Bangladesh? Activist Michael Chakma’s harrowing experience sheds light on the horrors faced by victims of this heinous crime. Read on to uncover the shocking details that the world needs to know. Analysis: In this gripping article, we delve into the sinister world of enforced disappearances in Bangladesh, where victims like Michael Chakma have endured unimaginable suffering at the hands of their captors. The recent ousting of Prime Minister Sheikh Hasina has brought these atrocities to the forefront,…

Insider Buying Activity at ProFrac Holding Corp. Signals Confidence in Future Growth Executives associated with ProFrac Holding Corp. (NASDAQ:PFHC) have recently made significant purchases of company stock, demonstrating their confidence in the oil and gas field services provider. The transactions, totaling 101,209 shares valued at over $676,000, took place on August 27 and 28 at weighted average prices of $6.69 and $6.68 per share. THRC Holdings, LP, THRC Management, LLC, and Dan Wilks are the reporting owners involved in these transactions, with a combined post-transaction holding of 77,405,220 shares. Insider purchases are often viewed positively by investors, indicating optimism about…

New Caledonia Congress President Replaced After Vote Upset – What It Means for Investors and the Financial Markets In a surprising turn of events, Roch Wamytan, the first Kanak Congress president of New Caledonia, has been replaced by Veylma Falaeo after a narrow vote. This unexpected outcome has sparked speculation about the future direction of the French Pacific territory. The New Caledonia Congress, established in 1999, plays a crucial role in governing various aspects of the territory, including health, tax, roads, welfare, and schools. With 54 councillors elected by the population every five years, the president is chosen annually through…

Craig Douglas Hopkins, CEO of Barnwell Industries Inc. (NYSE:BRN), Increases Stake with $24K Share Purchase Craig Douglas Hopkins, the President and CEO of Barnwell Industries Inc. (NYSE:BRN), recently bought an additional 10,000 shares in the company, as reported in a new filing with the Securities and Exchange Commission. The transactions, totaling $24,349, saw Hopkins acquire 5,000 shares at $2.3699 per share on August 28, 2024, and another 5,000 shares at $2.5 per share the following day. This increased his direct ownership to 75,000 common shares. CEO share purchases are often viewed as a signal of confidence in a company’s future,…

Investing.com– As oil prices remain relatively unchanged in Asian trade on Friday, concerns over tighter supplies in Libya and Iraq persist while traders worry about a potential slowdown in demand, resulting in losses for the month of August. Despite recent rebound from losses due to a production shutdown in Libya and reports of planned Iraqi production cuts, the outlook for supplies remains tight. Signs of U.S. economic resilience and expectations of interest rate cuts have supported prices, but fears of a cooling global oil demand as the summer season ends continue to weigh on the market. Weak economic data from…

Bank of Israel Deputy Governor Predicts No Rate Cuts Amid Rising Inflation and Geopolitical Risk In a recent statement, Bank of Israel Deputy Governor Andrew Abir indicated that the central bank is unlikely to lower short-term interest rates at its upcoming policy meetings in 2024. This decision comes in light of increasing price pressures and ongoing geopolitical uncertainties, such as the Gaza war. Despite holding the benchmark interest rate at 4.5% for the fifth consecutive time, concerns over inflation, which has reached 3.2%, remain at the forefront. The central bank had previously reduced rates by 25 basis points in January…

Breaking News: MannKind Corp Executive Sells Shares Worth $32,984 – What Does This Mean for Investors? In a recent SEC filing, it has been revealed that David Thomson, EVP of MannKind Corp (NASDAQ:MNKD), sold 5,553 shares at an average price of $5.94 each, totaling $32,984. This sale, conducted under a Rule 10b5-1 trading plan, is a significant indicator of insider activity within the company. Additionally, Thomson had shares withheld by MannKind Corp to cover income tax obligations, totaling $120,990. Following these transactions, Thomson’s total holdings in the company now stand at 829,843 shares. These details can be found in the…