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Here are the latest tech and energy stocks to fall

19.08.2022

Here are the events that take place on Friday.

The price of virtual currency fell sharply on Friday, dragging it to a three-week low. The reason for the drop was not immediately known. Over the course of a few minutes, the price of digital currency fell as much as 7.7% to $21,404. In the past week, the price of cryptocurrencies rebounded a bit to nearly $22,000, but was down more than 2%.

The month's value was off by more than 1% and down more than 49% year-to-date.

In the past week, the price of ether fell more than 5% to around $1,700, and is down more than 1%.

BED, BATH BEYOND: Shares of the retailer plunged another 40% in after-hours trading after investor Ryan Cohen sold his shares for average prices between $18.68 and $29.22 per share. A GameStop chair sold the stock Tuesday and Wednesday.

The after-hours drop was caused by a 20% drop in the regular trading session.

Cohen's interest in Bed Bath Beyond sent shares on a rollercoaster ride this week.

Shares surged 20% in after-hours trading, according to BED BATH BILL.COM. Wall Street revenue and profit estimates were topped by a provider of cloud-based software that simplifies, digitizes and automates financial operations. Revenue grew 156% to $200.2 million in the fourth quarter. Analysts predicted a total of $183.1 million. The core revenue, which consists of subscription and transaction fees, rose 151% to $194.8 million.

The net loss for the three months ended June increased to $84.9 million from $41.9 million. The non-GAAP loss was 3 cents, beating the analyst estimate of 14 cents.

The e-commerce company made its debut on the Nasdaq on Thursday, a rare initial public offering by a Chinese company, according to the Wall Street Journal. The company's stock went up 28% to $15.69. A online platform that connects manufacturers of bulk consumer items with buyers around the world, raised $36 million in gross proceeds after selling 2.94 million Class A shares. The deal valued the company at $486 million.

OIL PRICES: It edged lower on Friday, putting the brakes on a rally in the last couple of days. After a larger than expected drawdown in U.S. crude stocks, investors tried to weigh in on hopes of strong fuel demand.

U.S. West Texas Intermediate crude was around $90.00 a barrel, after a 2.7% increase in the previous session. After settling 3.1% higher on Thursday, crude futures traded around $96.00 a barrel.

The benchmark contracts were headed for weekly losses of about 1.5%.