A handful of stocks are enjoying a sort of halo effect from investors’ bitcoin mania — but market watchers are cautioning against getting into the names at current levels. Shares of Overstock.com have surged 118 percent in the last three months as the company announced it would enter into the blockchain and cryptocurrency space. Meanwhile, […]
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Amazon’s stock is up big this year, but hedge fund legend Stanley Druckenmiller thinks the e-commerce giant’s shares have more room to run. “I love Amazon. This company, which everybody keeps quoting the multiple, is selling for less than three times sales. The S&P 500 is selling for over two times sales,” Druckenmiller, the chairman […]
Read moreFacebook’s decision to book European sales through individual countries there starting next year — rather than through a regional headquarters in Dublin — signals that the company thinks higher tax rates are coming in Europe. It’s unlikely CFO David Wehner would undertake the costs of making such a change if Facebook hadn’t already sounded things […]
Read moreCoinbase, the leading U.S. platform for buying and selling major digital currencies, said twice on Tuesday that transactions in ethereum were “temporarily disabled.” In the morning New York time, Coinbase said buys and sells of ethereum and litecoin were temporarily disabled. That issue was resolved around noon ET. But by 2:04 p.m., Coinbase said on […]
Read moreTesla shares rose more than 2 percent Tuesday after PepsiCo said it had pre-ordered a fleet of 100 Tesla Semi trucks. PepsiCo’s order is the largest known pre-order for the trucks, which were unveiled in late November and are scheduled for production in 2019. Several other companies, such as Walmart, Anheuser-Busch and J.B. Hunt Transport […]
Read moreSan Francisco Mayor Ed Lee, who had longstanding ties with the tech community, died unexpectedly early Tuesday morning. During his tenure since 2011, Lee brokered a temporary tax break to attract tech companies to the city over Silicon Valley, located to the south. The payroll tax breaks, informally dubbed the “Twitter tax break,” temporarily exempted […]
Read moreProtests to preserve net neutrality, or rules that ensure equal access to the internet, migrated online on Tuesday, with numerous online companies posting calls on their sites for action to stop a vote later this week. Reddit, Etsy and Kickstarter were among the sites warning that the proposal at the Federal Communications Commission to roll […]
Read moreHe’s runs a $2.6 billion technology venture capital firm based in Palo Alto, California, in the heart of Silicon Valley. He was an early Facebook executive, and an early bitcoin adopter. But Chamath Palihapitiya told CNBC on Tuesday he keeps his kids as far away from technology as possible. The device rules in his household? […]
Read moreI bought $200 worth of bitcoin last Friday for a story I was writing on “how to give the gift of bitcoin” during the holiday season. I held on for my stash for a weekend to see what owning bitcoin was like. Here’s what I learned. You should probably know this if you’re buying bitcoin, […]
Read moreEveryone’s got their theories of what exactly bitcoin is in today’s economy — currency, value store or fraud — and NYU professor Scott Galloway is throwing a new one in the mix: A millennial “mistrust index.” “It’s basically young people saying they have no faith in our institutions,” Galloway told CNBC’s “Squawk Alley” Tuesday. “As […]
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