Latest news with #rally
Bloomberg
2 days ago
- Business
- Bloomberg
Almost Every Corner of Emerging Markets Is Surging as Dollar Sinks
After more than a decade as an afterthought in investing circles, developing assets are having a moment as Trump roils the dollar. Between them, Tina Vandersteel and Pramol Dhawan have more than 50 years of experience in emerging markets. And they can only recall, at most, a handful of times that their phones have rung non-stop like they are now — one call after another from people interested in tapping into the powerful rally building across the asset class. For Dhawan, the head of emerging markets portfolio management at Pacific Investment Management Co., it's taken some getting used to. For years, it had always been the other way around: Dhawan making calls to client after client trying to drum up interest in the developing world.
Yahoo
2 days ago
- Business
- Yahoo
Bitcoin May Turn Range-Bound Soon For These 3 Reasons: 10x Research
Benzinga and Yahoo Finance LLC may earn commission or revenue on some items through the links below. Bitcoin's (CRYPTO: BTC) recent rally, in light of catalysts such as corporate earnings, the upcoming White House digital asset report, and the FOMC meeting could lose momentum once these events conclude. According to a report by 10x Research, with no major triggers ahead and August–September historically weak months for crypto, Bitcoin may trade sideways or retrace unless new catalysts emerge. The research notes that Bitcoin's latest price movements have been closely tied to short bursts of momentum rather than sustained trends, with each major rally triggered by events such as ETF approvals, Fed policy signals, or political developments. Trending: 7,000+ investors have joined Timeplast's mission to eliminate microplastics— With corporate earnings, the White House digital asset report on July 30, and the Federal Open Market Committee (FOMC) meeting all concluding this week, the research suggests the market could enter a quieter phase. Bitcoin recently dropped to $115,000 ahead of options expiry, a level that 10x had targeted in its June 24 report when it sold the $115,000 strike call for July. While 10x remains constructive on the asset in the longer term, its latest strategy involves a strangle trade selling the $105,000 put and $130,000 call for the August 29 expiry to generate yield during a potential consolidation phase. Why It Matters: The White House digital asset report is expected to address a Strategic Bitcoin Reserve, regulatory frameworks, and systemic oversight. 10x Research cautions that a lack of clarity on the U.S. government's actual Bitcoin holdings and the timing of policy decisions could limit its market suggest that the U.S. Marshals Service controls around 28,988 BTC, significantly below earlier estimates exceeding 200,000 BTC. 10x also highlights that Ethereum's (CRYPTO: ETH) rally, driven primarily by treasury allocations from companies like Bitmine (AMEX:BMNR) and Sharplink (NASDAQ:SBET) rather than core network activity, could face similar risks if momentum slows. Ethereum's market cap and trading volumes have surged by over 50% in the past month, while fees and active addresses have only risen in single-digit percentages. With August seasonality often resulting in lower volumes and reduced institutional participation, 10x warns that the Bitcoin market could become range-bound between $111,673 and $120,000. The research stresses that discipline and tighter stop-losses will be crucial for traders navigating the weeks ahead. Read Next: $100k+ in investable assets? Match with a fiduciary advisor for free to learn how you can maximize your retirement and save on taxes – no cost, no obligation. If there was a new fund backed by Jeff Bezos offering a 7-9% target yield with monthly dividends would you invest in it? Image: Shutterstock This article Bitcoin May Turn Range-Bound Soon For These 3 Reasons: 10x Research originally appeared on 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
Bloomberg
2 days ago
- Business
- Bloomberg
Jefferies Sees Value, Small Caps Joining Record US Stocks Rally
The rally in large cap growth stocks that has powered US equities to record after record is about to get some fresh fuel, according to Jefferies. 'This feels like a crazy train, but breadth is bad and that is good,' strategists including Andrew Greenebaum and Chris Wood wrote in a note.
Yahoo
2 days ago
- Business
- Yahoo
'I'm not here to pump up a stock': The hedge funder who sparked a speculative frenzy says he's not playing the meme stock game
Opendoor isn't a meme stock, says the hedge funder whose thesis sparked a huge rally in the shares. Eric Jackson, known for his call on Carvana in 2023, thinks Opendoor can rally more than 3,000%. He says Opendoor shouldn't be lumped together with other meme stocks that surged this week. The architect of the latest meme stock rally doesn't want you to call him that. Eric Jackson, the founder of EMJ Capital, is bullish on Opendoor—the online real estate platform that embarked on a blistering rally after he posted his thesis on X—but it isn't a meme stock, he says. In his eyes, it's the real deal, a pandemic-era darling with big turnaround potential despite a 92% tumble since its peak. Jackson is known for what ended up being a correctly bullish call on Carvana in 2023. He laid out his views on Opendoor on social media on July 14, sparking not only a rapid rise in the stock, which also seems to have revived the meme stock trade among a newer group of unloved stocks, including Kohl's, Krispy Kreme, and GoPro. But for Jackson, Opendoor isn't a joke. He declined to disclose the value of his firm's stake, but it's now the single biggest position in EMJ Capital's portfolio, he told Business Insider. "I never thought of it that way," he said of investors who called Opendoor a meme stock. "So I sort of take offense, because I find all the meme stocks to be, to me, kind of terrible businesses that I would never want to own. Whereas I see Opendoor as a legitimate turnaround story." Opendoor will probably be the only company among the meme-stock cohort that won't be forgotten about by next week, he said, adding that he sees the latest speculative buying spree fizzling out. Indeed, most of this week's meme stock cohort was already giving up their biggest gains by midday on Friday. Opendoor's stock price spiked as high as $4.97 this week in intraday trading, an almost 830% increase in July. The stock has since pared its gains, trading around $2.46 a share on Friday, but Jackson still thinks shares could hit $82 within the next several years, a gain that would mark a 3,200% increase from current levels. The next leg-up for the stock could come in the next few weeks when the company reports third-quarter earnings, Jackson said. 'I'm not here to pump up a stock' Opendoor first appeared on Jackson's radar in 2022, around the time he started paying attention to Carvana. In a podcast called "The Compound and Friends," he said he believed both companies, which were struggling at the time, could stage a massive turnaround. His bet on Carvana paid off. Shares of the online used car retailer have risen almost 7,000% since the beginning of 2023. The bet on Opendoor — until now — did not. The stock traded between $1-$3 a share around the time Jackson finally gave up on the call and cashed out his shares nine months ago. "It's like having a painful ex in your history and you just don't want to look at their Instagram page or something like that, because it just brings up bad feelings," he said. Jackson thinks the story could be different this time around for a few reasons: Opendoor stock now looks similar to Carvana when Jackson first made his call on the used car seller. Opendoor shares were trading under $1 around the time he fired off a series of posts about the company on X. Opendoor has aggressively slashed its costs in recent years. In 2024, it cut its workforce by 17%. The firm doesn't have much competition in the iBuying space now that Zillow and Redfin have exited that business. Opendoor was likely "thrown for a loop" by the Fed keeping interest rates higher for longer than expected in 2022 and 2023, Jackson said. High borrowing costs significantly impact the real estate sector, but most investors expect the central bank to cut rates several more times this year, potentially stimulating fresh activity in the housing market. Opendoor might also be able to benefit from a big AI play, Jackson told BI, citing conversations with a former company insider. Jackson says what he sees going for Opendoor sets it apart from the meme stocks at the center of this week's euphoric rally. "Does Kohl's have an AI strategy? Does American Eagle, other than hiring Sydney Sweeney, have an AI strategy? I mean, GoPro — I mean, come on," he said of the other meme stocks in the spotlight. On social media, Jackson frequently tells his followers he's on the quest to find the next "100-bagger," a term coined by the investor Chris Mayer to describe an investment that has the potential to return 100 times its value over the long run. Jackson's firm, which has also started leaning on AI models to identify stocks with glimmers of potential, tries to look for three things, he said: Have other people given up on the stock? Does it look substantially mispriced? Does it look like it has a sustainable turnaround trajectory? If the answers are "yes," it could be a winning trade, though he acknowledges the approach isn't an exact science. Successful investments Jackson has made that he deems as 100-baggers include Alibaba, Microsoft, Coinbase, and Roku, he said in a post on X in June. The Opendoor call, in particular, has garnered him a lot of attention. Speaking to Bloomberg, Jackson said his firm had received 600 calls or emails from people inquiring about his fund and investment ideas in the last several weeks. Since posting the Opendoor thread on X, he told BI he's spoken with investors all over Asia, Africa, Europe, and South America who buy into his call, but he has also come across "a lot of negative stuff" on X about his thesis. "I guess it comes with the territory when you stick your neck out there as a real person with real thoughts. You get all these anonymous trolls chirping back at you," he said. "I really hope that if all of retail and all institutional investors truly believe in this $82 story, my hope is they zero in with like, the Death Star on this planet, and just buy and hold," he said, adding that he believed investors could stage a rally similar to Cisco's meteoric rise during the dot-com bubble. Importantly, he emphasized that he's not a fan of people saying he sparked the meme stock rally. "But I'm some grifter or flipper, no. I'm in this for the long run. I'm not here to pump up a stock and jump out of it. I've never done that." Read the original article on Business Insider
The Herald
2 days ago
- Automotive
- The Herald
Van Wyk and Swartz dominate Algoa National Rally
Jono van Wyk, dubbed the 'Swazi Cowboy', and his navigator, Nico Swartz, pushed their Mazda 2 1.6-litre turbocharged four-wheel drive to its limits to win both rounds three and four of the National Rally Championship hosted by the Algoa Rally Club at the weekend. Round three took place in and around Kariega and Despatch, with round four playing out in the Longmore Forest. In Friday's third round action, Benjamin Habig and Barry White pushed hard, winning two of the stages with the 'comeback kids' Nico and Juandre Nienaber taking the final stage win after having rolled their Hyundai i20 during Thursday afternoon's qualifying run. The Nienaber brothers misjudged a jump on a high-speed section in the Spiders Web area and hit a marker tyre, which resulted in them cartwheeling numerous times, with their new car landing in a mangled mess. The true spirit of the Algoa Rally Club was soon evident as many of their members jumped in to assist in sourcing parts and lending panel beating equipment and welders to assist the team in rebuilding the badly damaged Hyundai to ensure it was on the start line on Friday morning. After eight stages in round three, it was Van Wyk and Swartz on the top step of the podium, followed by Habig and White in second, and the Nienaber brothers in third. In the Algoa Rally Club Championship, the Nienabers took first place, followed by Zambian visitors Seth and Urshlla Gomes in second, with Neels Vosloo and Rikus Fourie in third. Round four then moved to the Longmore Forest on Saturday with an early start in freezing conditions that didn't keep the spectators away, even when the forecasted midmorning rain arrived to add an exciting dimension to the well-prepared roads throughout the forest. Habig and White unfortunately damaged a rear CV Joint in the VW Polo, leaving them with drive to only three of the wheels. The Nienabers chased hard and entertained the crowd with their fearless, high-speed antics but were unable to match the dominance of Van Wyk and Swartz, who won every stage, leading to them taking their third overall win and extending their lead in the championship. The Nienaber brothers were second, with Habig and White in third. In the Algoa Rally Club standings, it was the Nienabers who triumphed, with Wade van Zummeren and Henry Adams in second, and Deon Kretzmann and Jason Schreiber third. The Herald
