News

Ferrari shares tumbled 4.67% on Wednesday, closing at $413.73, as investors anxiously awaited President Trump's announcement of new tariffs on automobile imports. The potential for increased production costs and squeezed profit margins due to these tariffs weighed heavily on investor sentiment, leading to the significant decline in Ferrari's stock price.

GameStop Corp. (GME), the video game retailer turned meme stock darling, has made a significant move in the financial arena with its announcement of a $1.3 billion private offering of convertible senior notes. This strategic decision, unveiled after the close of trading on Wednesday, October 26th, 2023, is designed to bolster the company's financial resources and propel its ambitious foray into the world of Bitcoin.

MicroVision Inc. (MVIS) reported fourth-quarter revenue of $1.7 million, missing analyst estimates of $3.25 million, due to a customer delay that pushed revenue into 2025. The company remains optimistic about its future prospects and believes it is well-positioned to secure revenue opportunities in 2025.

The DEA is attempting to curb the popularity of cannabis by paying teenagers to make anti-weed videos on Instagram, despite the growing legalization and public support for marijuana. This campaign appears out of touch with reality, as the cannabis industry continues to thrive and public opinion overwhelmingly favors legalization.

Petco Health and Wellness Company (WOOF) reported a fourth-quarter loss of five cents per share, missing analyst expectations, but exceeded revenue expectations with $1.52 billion. Despite the mixed results, CEO Joel Anderson expressed confidence in the company's future, citing progress in returning Petco to retail operating excellence and plans for double-digit adjusted EBITDA improvement in 2025.