Fund manager Cole Smead has described the meme stock craze as “frankly stupid,” as day traders once again pile into GameStop and AMC. “It is gambling,” he said Tuesday on CNBC’s “Street Signs Europe.” Smead is the CEO of Smead Capital Management which has around $6 billion of assets under management. “You’ve got to remember … Read more
It’s fair to say that AI is all over the 12th annual CNBC Disruptor 50 list. Roughly two-thirds of the 50 companies making the Disruptor 50 list describe artificial intelligence as “critical” to their businesses. And it starts at the very top: for the first time ever, a company repeats as the list ‘s No. … Read more
A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange on March 29, 2022. Brendan McDermid | Reuters The jaw-dropping rally in GameStop on Monday caused losses approaching $1billion for short sellers, according to data from S3 Partners. With GameStop soaring 74%, short-selling hedge funds suffered a mark-to-market … Read more
CNBC’s Jim Cramer on Monday reminded investors that much of the stock market currently depends on the Federal Reserve’s interest rate decisions, which are hard to predict as inflation persists. He said he is hopeful new artificial intelligence technology will help cut costs, but stressed that it will not happen any time soon. “We keep … Read more
CNBC’s Jim Cramer on Monday provided his take on four major stocks in the gig economy sector: Uber, Lyft, DoorDash and Instacart parent Maplebear. “After hearing from all of these companies, what I see is a confusing situation: Uber, DoorDash and Instacart are all lower after earnings, while Lyft managed to gain a bit of … Read more
My top 10 things to watch Monday, May 13 1. Stocks are set to begin the week higher ahead of key inflation releases on Tuesday and Wednesday. The data will offer a test for the quiet market rally we’re enjoying. The Dow, which on Friday wrapped up its best week of the year, is riding … Read more
A man passes by a GameStop location on 6th Avenue in New York, March 23, 2021. View Press | Corbis News | Getty Images GameStop shares rallied more than 80% on Monday after “Roaring Kitty,” the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years. The post, … Read more
When a company performs well and I interview its CEO on CNBC, I consider the stock’s performance before fashioning my questions. When a chief executive is hitting it out of the park, the interview is going to be easy. My main objective is to find out if the great numbers are sustainable. Is there something … Read more
SoftBank’s Vision Fund, the brainchild of the company’s founder Masayoshi Son, has faced a number of headwinds including a slump in technology stocks as a result of rising interest rates, a tough China market and geopolitics. Kentaro Takahash | Bloomberg | Getty Images SoftBank posted a 7.24 billion Japanese yen ($4.6 billion) gain on its … Read more
Skynesher | E+ | Getty Images Fewer homeowners have been taking on remodeling projects, reports show. But don’t mistake it for a slow market. The Leading Indicator of Remodeling Activity, an outlook measuring home improvement and repair spending on owner-occupied homes, peaked at 17.3% in the third quarter of 2022. The LIRA has been declining … Read more
