Author: Multibagger News

Leonard M. Tannenbaum Makes $1.49 Million Investment in Sunrise Realty Trust, Inc. (NYSE:SUNS) – Insider Transactions Revealed! Leonard M. Tannenbaum, the Executive Chairman of Sunrise Realty Trust, Inc. (NYSE:SUNS), has recently made a substantial investment in the company’s stock, purchasing shares valued at approximately $1.49 million. These transactions, which occurred on July 10 and July 11, 2024, demonstrate a significant show of confidence in the real estate investment trust by one of its top executives. The shares were acquired in multiple transactions at prices ranging from $8.73 to $11.49. Tannenbaum purchased 10,000 shares at $8.73 each on July 10, and…

SK On Expands Battery Portfolio Amid Slowing EV Demand: A Strategic Analysis for Investors By Heekyong Yang SEOUL (Multibagger) – South Korean EV battery manufacturer, SK On, is currently in discussions with various automakers to supply prismatic batteries. This move marks a significant shift from their existing focus on pouch-type batteries. The strategic pivot comes amidst a backdrop of decelerating global electric vehicle (EV) demand. Diversification as a Strategic Move SK On, a subsidiary of energy conglomerate SK Innovation, supplies batteries to industry giants such as Ford Motor, Hyundai Motor, and Volkswagen. Ko Chang-Kook, SK On’s chief spokesperson, revealed that…

The Week Ahead in World Markets: Biden’s Presidential Race, Fed Rate Cut, ECB Meeting, and UK’s New Labour Government Revealed As the world’s top investment manager and financial market journalist, Ira Iosebashvili, Yoruk Bahceli, Li Gu, William Schomberg, and Amanda Cooper bring you the inside scoop for the coming week. From politics to central bank decisions, here’s what you need to know. 1/ BUSY, BUSY With the U.S. presidential election race heating up, retail sales data, Fed announcements, and bank earnings take center stage. Expectations for a September rate cut are high as signs of a cooling economy emerge. Keep…

Elon Musk Donates to Political Group Backing Trump: Bloomberg In a shocking turn of events, billionaire Elon Musk has reportedly made a significant donation to a political group supporting former President Donald Trump’s re-election campaign. According to Bloomberg sources, Musk’s donation to America PAC is said to be “a sizable amount.” The PAC, which is allowed to receive unlimited contributions for political activities, is expected to disclose its list of donors on July 15. This news comes after Trump met with Musk and other wealthy donors earlier this year, fueling speculation about their potential support for his campaign. However, Musk…

Janus Henderson Group Increases Stake in ARCA biopharma: What It Means for Investors In a strategic move, Janus Henderson Group PLC and its affiliated fund, Janus Henderson Biotech Innovation Master Fund Ltd., have recently ramped up their holdings in ARCA biopharma, Inc. (NASDAQ:ABIO), a company specializing in cutting-edge diagnostic substances. This significant investment spree, totaling around $1.43 million, took place over several days between July 3 and July 11, 2024. Janus Henderson’s purchases of ARCA biopharma’s common stock, priced between $3.41 and $3.5507 per share, highlight the fund’s confidence in the company’s potential. As a major player in the biotech…

FTC Cracks Down on Unfair Franchise Practices: What It Means for Investors and Franchise Owners By Waylon Cunningham (Multibagger) – The U.S. Federal Trade Commission (FTC) has announced a series of actions targeting "unfair and deceptive practices" imposed on U.S. franchisees by their brand owners, such as unexpected fees not outlined in franchise contracts and provisions that discourage franchisees from communicating with regulators. The FTC’s declaration did not name specific companies, but it addresses issues that have strained relationships between franchisees and major brands like McDonald’s (NYSE:) and Subway. These actions are poised to reshape the franchise landscape and could…

DUBAI (Multibagger) – Iran’s President-elect Masoud Pezeshkian emphasizes in a statement that the United States should understand that Iran will not bow to pressure. He also highlights Iran’s strong relationships with China and Russia. Pezeshkian, a moderate leader who won in recent elections, reassures that Iran is not interested in nuclear weapons and aims to strengthen ties with neighboring countries and engage with Europe. He states, “The United States needs to realize that Iran does not respond to pressure and that Iran’s defense doctrine excludes nuclear weapons.” As a 69-year-old heart surgeon, Pezeshkian promises a pragmatic foreign policy to ease…

Powerfleet, Inc. Announces Annual Meeting Date Change – Stockholders Must Act Fast As the world’s best investment manager and financial market journalist, I bring you the latest news on Powerfleet, Inc. (NASDAQ:AIOT). The global leader in subscription-based wireless IoT solutions has set September 17, 2024, as the date for its annual stockholder meeting. This announcement, made via a Form 8-K filing on July 12, 2024, reflects a shift in the meeting date from the previous year. Stockholders interested in proposing matters for the meeting must submit their written notices by July 22, 2024. These proposals must comply with SEC rules…

Chuck Close Estate Reaches Settlement with Cigna Over Unpaid Medical Bills: What This Means for Your Finances By Jonathan Stempel NEW YORK (Multibagger) – In a significant development for the art and insurance worlds, the estate of renowned artist Chuck Close has settled a lawsuit against insurance giant Cigna (NYSE: CI) over unpaid medical expenses. This case, which has caught the attention of both art enthusiasts and financial experts, underscores the critical importance of understanding your healthcare coverage and its potential financial implications. Key Highlights: Settlement Reached: The estate of Chuck Close and Cigna have reached a settlement in principle…

DiDi Ride-Hailing App Tragedy: 23-Year-Old Woman Found Dead in Mexico Authorities discovered the body of a young woman who went missing after using the ride-hailing app DiDi in northern Mexico, sparking outrage in a country plagued by gender violence. Education student Paola Banuelos disappeared after hailing a car via DiDi and leaving a bar in Mexicali, near the U.S.-Mexico border. Her body was found in a remote area with signs of violence, leading to the driver, Sergio Gutierrez, turning himself in as the main suspect. Gutierrez claimed he fled out of fear and that his family had been threatened. DiDi,…