News

The S&P 500 has significantly underperformed global markets in the first quarter of 2023, marking a notable shift from recent years where U.S. stocks dominated. This underperformance is attributed to declining technology stocks and a strong energy sector, leading to revised earnings growth estimates and a surge in gold prices.

Political economist Ed Price believes Elon Musk is being used as a pawn in Donald Trump's political strategy, ultimately becoming a scapegoat for more radical moves. Price also warns that Trump's ambitions could extend beyond the U.S. border and potentially involve foreign policy decisions like ceding Taiwan to China.

Ark Invest, led by Cathie Wood, made significant trades on Monday by purchasing a substantial number of shares in CoreWeave Inc. and Robinhood Markets Inc. The transactions, valued at approximately $3.64 million for CoreWeave and $1.32 million for Robinhood, highlight the firm's continued investment focus despite recent challenges faced by these companies.

Red Cat Holdings announced its financial outcomes for the 2024 transition period, reporting $4.9 million in revenue and a loss of 57 cents per share, while emphasizing its growing international presence with new drone models. The company also outlined an ambitious revenue outlook for 2025, forecasting between $80 million and $120 million fueled by strong sales across multiple product lines and enhanced financing support.

Intel CEO Lip-Bu Tan outlined a bold vision for the company's future, emphasizing a major cultural overhaul and potential support from the Trump administration. Tan's strategy focuses on reducing bureaucracy, recruiting top talent, and collaborating with the government to maintain U.S. leadership in the semiconductor industry.