(Bloomberg) -- Maybe it was another case of mistaken identity, or just Pavlovian enthusiasm on a day when the FANG stocks were powering up. Whatever the reason, a company called Fangdd just jumped fivefold without any news to explain it.Fangdd Network Group Ltd., a Shenzen, China-based real estate firm that trades in the U.S. under the ticker DUO, nearly quintupled on Tuesday, jumping 395% to close at $47.06 per American depository receipt after starting the day at $10.The stock touched as high as $129.04 -- an advance of more than 1,200% -- before prompting a trading halt that paused the stock for an hour. The momentum continued after the bell, lifting shares an additional 34%.It’s unclear what sparked the runaway rally, which occurred in a week that’s already seen high volatility chalked up to factors from retail investors bidding up bankrupt stocks to short covering or just a fear of missing...
EUR/USD Current Price: 1.1341 * Equities retreated from their recent highs, but the dollar couldn't benefit from the dismal mood. * The U.S. Federal Reserve is expected to maintain its monetary policy unchanged, focus on the dot-plot. * EUR/USD is nearing the multi-week high at 1.1384 posted after the upbeat US employment report.The EUR/USD pair is nearing its post-NFP peak at 1.1383 ahead of the most relevant event of the week, the US Federal Reserve monetary policy decision. The greenback tried to recover some ground during European trading hours, helped by the sour tone of equities. Nevertheless and despite stocks were unable to recover, the dollar resumed its decline during the American session, ending the day lower against most of its major rivals.In the data front, Germany published the April Trade Balance, which posted a surplus of €3.2B below expected, with exports falling by 24% and imports collapsing by 16.5%. The...
AUD/USD Current Price: 0.6964 * The Australian NAB's Business Confidence improved to -20 in May from -45 in April. * Australia will publish the June Westpac Consumer Confidence, previously at 16.4%. * AUD/USD is correcting lower but neutral in the short-term.The AUD/USD pair put a halt to its bullish run this Tuesday, ending the day in the red in the 0.6960 price zone. The pair bottomed at 0.6898 during the European session, weighed by the sour tone of equities, later bouncing on the back of the broad dollar's weakness. Australian data released at the beginning of the day was mixed, as the NAB's Business Confidence improved to -20 in May from -45 in April. The NAB's Business Conditions for the same period came in at -24 from -34, missing expectations of -16. On a positive note, the ANZ Job Advertisements improved to 0.5% in May from -53.4% in April.Early on Wednesday,...
Other car companies besides Tesla are hopping on the electric car band wagon, with companies like Nikola and GM developing electric vehicles. Yahoo Finance’s Rick Newman joins The Final Round panel to break down when he anticipates the automotive industry to make a hard shift to electric vehicles. ...
AMC released its first quarter earnings report after hours on Tuesday, which missed on both top and bottom lines after closing down all its theaters for the coronavirus pandemic. The company did announce that it was expecting to be fully re-opened around the globe in July. Yahoo Finance’s Jared Blikre breaks down the movie theater company’s earnings....
In this article we will take a look at whether hedge funds think Macy's, Inc. (NYSE:M) is a good investment right now. We check hedge fund and billionaire investor sentiment before delving into hours of research. Hedge funds spend millions of dollars on Ivy League graduates, unconventional data sources, expert networks, and get tips from […]...
