Japan’s SoftBank 9434 -5.95% is the epitome of the excesses that fueled the boom in technology stocks. With the market now cratering, the Japanese technology investor can’t avoid sharing tech stocks’ fate. Moreover, the real pain for the company — and its investors — may still be ahead. SoftBank on Thursday reported a loss of … Read more
Until fairly recently, the idea of selling a tweet wouldn’t have made much sense. But last year, Twitter co-founder Jack Dorsey auctioned a nonfungible token, or NFT, of the first tweet ever sent. Dorsey’s historic message: “just setting up my twttr.” Pretty mundane for sure. Still, crypto entrepreneur Sina Estavi made the winning bid for … Read more
A scene from Apex Legends Mobile, published by Electronic Arts. Courtesy of Electronic Arts Text size Electronic Arts shares were rising in late trading after the company revealed an array of new games it plans to release later this fiscal year. Electronic Arts (ticker: EA) reported adjusted revenue or net bookings of $1.75 billion, slightly … Read more
Text size Tens of billions of investors’ capital has been vaporized inside some top tech hedge funds. It could be the quickest collapse of dollar value in hedge fund history. Dreamstime Warren Buffett once said, “You don’t find out who’s been swimming naked until the tide goes out.” Well, the tide has gone out for … Read more
Text size China is sticking with its zero-Covid policy but also said it would ease off regulatory crackdowns on tech firms. Here, a subway station in Beijing. Wang Zhao / AFP via Getty Images China’s recent announcements that it will pause its long-running regulatory crackdowns on leading tech firms is drawing skepticism from analysts. And … Read more
Bored Apes may be carrying the NFT market on its shoulders. NFTs, or nonfungible tokens, are digital files that grant holders some rights to a unique digital asset – such as a video clip, image, audio file, or deed to online real estate. Most NFTs are minted and trade on the Ethereum blockchain, priced in … Read more
WASHINGTON — The Securities and Exchange Commission will boost the size of its special unit devoted to investigating cryptocurrency fraud and other misconduct, a move that follows the agency’s aggressive push to get the unregulated industry to come under federal supervision. The SEC said it plans to add 20 investigators and litigators to its Crypto … Read more
Text size Jeff Bezos has given investors a new reason to worry about the valuations of tech stocks. David Ryder / Getty Images Technology investors hoping for a quick rebound to new highs may be in for a longer wait. Over the weekend, Jeff Bezos warned that when the “bull run” in technology ends, “the … Read more
The Big Tech earnings boom is officially over, but some of the world’s most powerful and valuable companies are breaking off from the pack. As this column told you months ago, profit increases are no longer a given for Big Tech. Collectively, Alphabet Inc. GOOGL, + 3.70% GOOG, + 3.82%, Amazon.com Inc. AMZN, + 4.65%, … Read more
US stocks fell, extending their April losses, as investors digested earnings reports from leading companies and weighed concerns about inflation and the spread of Covid-19 in China. Stocks slid for much of Tuesday, dropping further late in the session. The S&P 500 closed down 2.8%, or 120.92 points, to 4175.20, a day after tech stocks … Read more