Chime Financial (CHYM) Jumps 8.93%, Tracks Financial Services Jump
Chime Financial, Inc. (NASDAQ:CHYM) rebounded by 8.93 percent on Wednesday to end at $31.59 apiece, in line with the rally in the financial services sector amid the broader industry's growing optimism and adoption of digital currencies.
This followed the passage of the Stablecoins bill in the Senate last week. Also called the GENIUS Act, it aims to regulate the framework for digital currencies and bolster their adoption and wider use.
Stablecoins are a type of digital currency designed to maintain a 1:1 ratio with the US dollar and are widely used by cryptocurrency traders to move funds between tokens.
Last week, financial technology companies, including Chime Financial, Inc. (NASDAQ:CHYM), earned a beating from the bill's passage as investors feared that the wider adoption of Stablecoins would pose a threat to traditional payment providers' profit margins and heighten competition in the industry.
A digital tablet presenting various payment options alongside an educational lecture on the benefits of diverse capabilities.
Various financial services companies have recently announced making a foray into the digital currency industry to keep up with the reshaping payments landscape.
While we acknowledge the potential of CHYM as an investment, our conviction lies in the belief that some AI stocks hold greater promise for delivering higher returns and have limited downside risk. If you are looking for an extremely cheap AI stock that is also a major beneficiary of Trump tariffs and onshoring, see our free report on the best short-term AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and 30 Best Stocks to Buy Now According to Billionaires.
Disclosure: None. This article is originally published at Insider Monkey.
Try Our AI Features
Explore what Daily8 AI can do for you:
Comments
No comments yet...
Related Articles
Yahoo
an hour ago
- Yahoo
Waystar Study Highlights AI's Critical Role, Proven ROI in Healthcare Payments
Waystar Holding Corp. (NASDAQ:WAY) is one of the best new stocks to buy now. On June 23, Waystar announced the findings of a commissioned study conducted by Forrester Consulting. The study is titled 'AI in Healthcare Payments Software: A Strategic Imperative,' and revealed that AI is becoming increasingly critical in revenue cycle management/RCM due to its proven impact and measurable ROI. The research shows acceleration in AI adoption within healthcare. 82% of healthcare leaders now consider AI an integral part of their RCM operations, with 70% identifying it as a top organizational priority. The study also found that AI is delivering improvements in key revenue cycle metrics, such as a 13% to 37% improvement in high-impact areas such as claim accuracy, denial prevention, workforce efficiency, and payment speed. A medical professional with a patient explaining the effects of neurostimulation treatments. Trust in AI is growing, with 60% of decision-makers reporting increased confidence since implementing AI. ~ 70% of healthcare leaders view AI as a high or critical organizational priority, and 60% plan to increase their AI investment. The study is based on responses from 300+ healthcare leaders and highlights a preference for existing RCM software partners when it comes to AI capabilities. Waystar serves ~30,000 clients and represents over 1 million distinct providers, including 16 of the top 20 institutions on the US News Best Hospitals list. Waystar Holding Corp. (NASDAQ:WAY) develops a cloud-based software solution for healthcare payments. While we acknowledge the potential of WAY as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey. Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
an hour ago
- Yahoo
Datadog Earns Forbes Global 2000 Spot, Unveils New AI, Observability Features at DASH 2025
Datadog Inc. (NASDAQ:DDOG) is one of the best NASDAQ growth stocks to buy for the next 3 years. On June 20, Datadog announced its inclusion on the Forbes Global 2000 and Forbes Global 2000 United States Lists for 2025. The recognition highlights the company's global impact and financial strength, with Forbes' annual ranking based on sales, profits, assets, and market value. For the trailing 12 months ending March 31 this year, Datadog reported $2.8 billion in revenue, which was up 26% year-over-year. As of then, Datadog served ~30,500 customers, which included companies such as Samsung, NASDAQ, Shell, Autodesk, and Toyota. A close-up of a laptop with a software engineer coding on the monitor. This milestone closely followed Datadog's annual DASH conference, which was held in New York City from June 9 to 11 this year, which attracted record attendance. At the event, Datadog unveiled several new products and features. These innovations include new AI agents for rapid application issue resolution, new LLM observability capabilities to monitor agentic AI and improve model performance, and AI security capabilities for protection against critical AI risks. Datadog also launched an Internal Developer Portal to ship production-ready code quickly and introduced new long-term retention, search, and data residency capabilities. Datadog Inc. (NASDAQ:DDOG) operates an observability and security platform for cloud applications in the US and internationally. While we acknowledge the potential of DDOG as an investment, we believe certain AI stocks offer greater upside potential and carry less downside risk. If you're looking for an extremely undervalued AI stock that also stands to benefit significantly from Trump-era tariffs and the onshoring trend, see our free report on the . READ NEXT: and . Disclosure: None. This article is originally published at Insider Monkey.
Yahoo
3 hours ago
- Yahoo
Elon Musk's $71 Billion Wealth Wipeout Dwarfs Next 7 Billionaire Decliners Combined
The world's richest person is worth less in 2025 than at the end of 2024, with Tesla Inc (NASDAQ:TSLA) CEO Elon Musk seeing his wealth take a hit as he battles with President Donald Trump. What Happened: The share price of Tesla has been highly volatile since Trump won the 2024 presidential election. Tesla shares hit new all-time highs in December 2024, driven by optimism for the electric vehicle leader and the strong relationship between Musk and Trump, which could help address regulatory issues and attract new fans. Tesla stock also traded over $400 at the start of 2025. Trending: GoSun's Breakthrough Rooftop EV Charger Already Has 2,000+ Units Reserved — Musk's work done with the government through the Department of Government Efficiency led to a call for boycotts against Tesla, and may be a reason for the weakened demand globally in 2025. Several recent falling outs between Musk and Trump have caused Tesla shareholders to worry about the future and have led to a significant decline in Musk's wealth in 2025. Musk is worth an estimated $361 billion according to Bloomberg. While that figure is significant and higher than second-place Mark Zuckerberg ($252 billion), it is down $71.2 billion year-to-date in 2025. For context, Musk has lost more in his net worth in 2025 than the next seven highest 2025 decliners combined, who are listed below with their rank on the list, net worth and YTD decline. 273. Dustin Moskovitz, Facebook co-founder, Asana Inc (NYSE:ASAN) founder: $11.4 billion, -$16.9 billion YTD 7. Bernard Arnault, LVMH (OTC:LVMUY) CEO: $162 billion, -$14.4 billion YTD 168. Mike Sabel, Venture Global (NYSE:VG) co-founder: $15.3 billion, -9.4 billion YTD 169. Bob Pender, Venture Global co-founder: $15.3 billion, -$9.4 billion YTD 9. Sergey Brin, Alphabet Inc (NASDAQ:GOOGL) co-founder: $152 billion, -$6.6 billion 8. Larry Page, Alphabet Inc co-founder: $162 billion, -$6.5 billion 189. Sukanto Tanoto, Royal Golden Eagle founder: $14.1 billion, -$6.3 billion Musk has lost more wealth than these seven individuals combined. In fact, the $71.2 billion drop in his net worth is so steep, it would rank as the 23rd largest fortune in the world on its own. That means in 2025 alone, Musk has lost more money than the total net worth of all but about 20 It's Important: Tesla stock is down 16.7% year-to-date in 2025, which has significantly impacted Musk's wealth, as he owns approximately 12% of the company. Other stakes in SpaceX and xAI have held up better but are less volatile, as they are privately held and don't experience the same valuation spikes as Tesla stock does on a day-to-day basis. Regardless of how much Musk and Trump are worth, the Tesla CEO's net worth is significantly higher, but investors may soon learn which figure truly matters when it comes to valuing Tesla. Trump has threatened to investigate the subsidies that Tesla receives and is again speaking critically of electric vehicles. Tesla investors should also keep in mind that Trump was once strongly opposed to autonomous vehicles and stated that he would ban them from the road. The president appears to have had a change of heart or been influenced by Musk to make it easier to get autonomous vehicles on the road today. Musk previously set a Guinness World Record in 2022 with the largest single-year wealth drop, with his net worth declining between $180 billion and $200 billion. It is unlikely that Musk could see such a significant drop again in 2025, but continued battles between Musk and Trump could be a storyline to watch. Read Next: Maximize saving for your retirement and cut down on taxes: Schedule your free call with a financial advisor to start your financial journey – no cost, no obligation. These five entrepreneurs are worth $223 billion – they all believe in one platform that offers a 7-9% target yield with monthly dividends Image created using photos from Shutterstock. Up Next: Transform your trading with Benzinga Edge's one-of-a-kind market trade ideas and tools. Click now to access unique insights that can set you ahead in today's competitive market. Get the latest stock analysis from Benzinga? This article Elon Musk's $71 Billion Wealth Wipeout Dwarfs Next 7 Billionaire Decliners Combined originally appeared on
