Trump Media & Technology Group CEO Raises Concerns Over Stock Manipulation, Requests Probe By Louisiana Regulator: Anomalies Surrounding Trading Have Become 'Chronic And Alarming' from randi market video Watch Video

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✓ Published: 29-May-2024
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Devin Nunes, CEO of Trump Media & Technology Group, the owner of Donald Trump‘s social networking site Truth Social, has formally raised concerns about alleged stock manipulation with the Louisiana Office of Financial Institutions.

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Devin Nunes, CEO of Trump Media & Technology Group, the owner of Donald Trump‘s social networking site Truth Social, has formally raised concerns about alleged stock manipulation with the Louisiana Office of Financial Institutions.
⏲ 0:57 👁 285K
Devin Nunes, CEO of Trump Media & Technology Group, the owner of Donald Trump‘s social networking site Truth Social, has formally raised concerns about alleged stock manipulation with the Louisiana Office of Financial Institutions.
⏲ 0:57 👁 230K
Salesforce shares fell 18% after the company reported fiscal first-quarter revenue that missed estimates for the first time since 2006 and provided lighter-than-expected guidance. Revenue for the quarter increased 11% but still came in below analysts' estimates. Guidance also came in below estimates. Analysts said broader macroeconomic challenges impacted Salesforce's performance during the quarter more than expected. Execution issues and changes to their go-to-market strategy also played a role. Analysts remain optimistic about Salesforce's long-term prospects, especially around their investments in generative AI and how it could drive future growth.
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Abercrombie & Fitch CEO Fran Horowitz wants to capitalize on the success of the company's women's wedding attire business by launching a new men's suit collection. The company's first quarter same-store sales rose by double digits for both its Abercrombie & Fitch and Hollister brands, beating analyst estimates. Profit margins also expanded significantly. Analysts were impressed with Abercrombie & Fitch's ability to sell products at full price and control inventory in the current retail environment. The company plans to open more stores in the US by the end of the year and ramp up growth initiatives in international markets like Germany and the UK. Shares of Abercrombie & Fitch jumped 22%.
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Delaware Judge Kathaleen McCormick said she feels assured that Tesla would not use its 2024 Annual Stockholders’ Meeting to challenge her decision to rescind Elon Musk's 2018 compensation package. Tesla's legal team said such claims were \
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Eurozone inflation increased to 2.6% in May 2024 from 2.4% in April, as both headline and core inflation came in higher than economists expected. Services inflation, an important metric for the ECB, rose to 4.1%. Markets continued to fully price in an interest rate cut by the ECB at its June meeting, following signals from policymakers that a cut is likely. Inflation has cooled significantly from a peak of 10.6% in October 2022 but has remained below 3% for the past eight months. The euro was slightly higher against the dollar and pound after the inflation release.
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Shares of Trump Media dropped 15% in extended trading following Former President Donald Trump's guilty verdict in New York. Trump owns 65% of shares in Trump Media, the company that owns the Truth Social app. Trump Media merged with shell company Digital World Acquisition Corp in March, sending its stock surging initially. The company has a market cap of around $9 billion, based largely on Trump's personal brand and following. In its first quarter, Trump Media reported a net loss of more than $320 million on less than $1 million in revenue.
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Renowned economist Peter Schiff has warned about the potential for a major financial crisis due to “run-away inflation” and a weakening U.S. dollar. Schiff also predicts a significant surge in gold prices.
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