DJT Partners with Crypto.com to Launch ETFs
19 minutes ago
Shares of Trump Media & Technology Group (DJT) rose sharply on Tuesday following the announcement that President Donald Trump’s social media enterprise has collaborated with the cryptocurrency exchange Crypto.com to introduce exchange-traded funds (ETFs).
The company, which operates the Truth Social site and the Truth+ streaming service, indicated that these financial products would roll out later this year under the Truth.Fi brand.
The partnership will see the ETFs offered through Crypto.com’s broker, Foris Capital US LLC, and they are projected to include both digital assets and securities focusing on American-made companies across various sectors, including energy. Trump Media noted that these ETFs would feature a unique selection of cryptocurrencies like Bitcoin, Cronos, and other crypto assets.
Trump Media’s CEO Devin Nunes expressed that the goal is to develop innovative funds that center on rapid growth and tech advancement while bolstering the U.S. economy.
Following these developments, shares increased by 8%, although they have still seen a decline of approximately one-third in value this year.
Cloudflare Shares Surge After Upgrade from BofA
40 minutes ago
Shares of Cloudflare (NET) climbed on Tuesday after analysts at Bank of America delivered a rare double upgrade to the stock, pointing to its strong prospects in artificial intelligence and security.
Bank of America described Cloudflare as “poised to be a leading ‘AI winner’ in the software sector,” forecasting a growth rate of 30% by 2028, largely driven by momentum in AI and security.
The bank upgraded the stock from “underperform” to “buy,” raising the price target from $60 to $160. The stock saw an increase of 2.5%, settling at around $127 during recent trades.
The firm’s AI-as-a-Service model distinguishes Cloudflare in the competitive landscape, as it appears that customers are preferring its services over major players like Amazon (AMZN), Oracle (ORCL), and Microsoft (MSFT) Azure. A recent survey indicated that Cloudflare clients plan to increase their AI spending by 8% over the next year, averaging about $100,000 per customer.
KB Home Stock Drops Amidst Declining Demand
1 hr 18 min ago
KB Home’s (KBH) stock dipped on Tuesday after the homebuilder reported disappointing earnings and revised its guidance downwards due to reduced demand from potential buyers.
The company announced a first-quarter fiscal 2025 earnings per share of $1.49, while revenue fell 5% year-over-year to $1.39 billion, both figures below market expectations. Home deliveries also decreased by 9% to 2,770 homes, although the average selling price increased by 4% to $500,700.
CEO Jeffrey Mezger stated that consumers are hesitant due to concerns about affordability and macroeconomic uncertainties, which have led to more cautious home-buying decisions. He mentioned that the beginning of the crucial spring selling season has been less robust than historically seen despite adequate traffic to their communities.
With a revised outlook reflecting lower net orders in Q1, KB Home’s anticipated housing revenue is now between $6.6 billion and $7.0 billion, a decrease from a previous estimate of $7.0 billion to $7.5 billion.
Tesla Sales Decline Continues in European Union
2 hr 4 min ago
Tesla’s (TSLA) sales in the European Union (EU) saw a significant drop for the second month in a row in February, despite a broader increase in new electric vehicle registrations.
The European Automobile Manufacturers’ Association reported a 47% decline year-over-year in new Tesla car registrations, totaling 11,743 units in February, following a prior 50% drop.
In contrast, overall battery-electric vehicle (BEV) registrations within the EU rose nearly 24% overall. Tesla stock dipped by 1% in early trading on Tuesday, following a 12% increase that positioned it as a leader in the S&P 500 the day prior.
Concerns that CEO Elon Musk’s focus on collaborations with President Donald Trump may distract from Tesla’s operations and impact brand perception have contributed to over a 30% decline in Tesla shares this year, compounded by weak sales in key markets like Europe and China.
MicroStrategy Stock Levels to Monitor Post-Monday’s Rise
3 hr 34 min ago
MicroStrategy’s (MSTR) stock experienced a slight decrease this morning after a significant surge of over 10% on Monday.
The company, known for being the largest corporate holder of bitcoin, gained attention following a regulatory filing that revealed it had acquired an additional 6,911 bitcoins between March 17 and March 23, boosting its total holding to over 500,000 BTC. MicroStrategy’s accumulation of bitcoin, which began in 2020, continues unabated.
As of Monday’s close, MicroStrategy shares had risen by 16% since the start of the year and have more than doubled over the past year as investors see it as a leveraged bet on Bitcoin.
Following a consolidation around the 200-day moving average, shares have shown renewed interest recently, closing above the 50-day moving average on Monday, possibly indicating a continuation of the longer-term upward trend.
Investors are advised to observe critical resistance levels for MicroStrategy’s stock around $383, $543, and $870, while support levels near $232 and $180 should also be monitored.
Major Stock Index Futures Show Modest Gains
4 hr 8 min ago
Futures for major U.S. stock indexes were each up by 0.2% in recent trading sessions.
Dow Jones Industrial Average
S&P 500
Nasdaq 100
