0

Dow Jones Jumps 500 Points After House Stimulus Vote; DraftKings Stock Soars

Posted on

InvestorPlace

Marathon Digital’s Bitcoin Story Faces Some Serious Questions

Marathon Digital (NASDAQ:MARA) has been one of the single biggest winners of the past year. Incredibly, over the past 12 months, MARA stock is up more than 12,000%. Some of that is due to how low shares plunged during March of 2020, of course. But the run has been incredible regardless. As recently as November, MARA stock sold for $2. Now it’s in the high $40s. Source: Shutterstock The reason for the recovery is pretty clear: Bitcoin (CCC:BTC-USD) is back. Last year, crypto’s star had dimmed a bit. But now, with aggressive central bank actions to bolster the economy, traders fear inflation and are buying assets such as Bitcoin as hedges. Marathon Digital, a Bitcoin mining company, has naturally benefitted from the abrupt change in sentiment. However, speculators have gotten ahead of themselves in MARA stock. Marathon Is Still a Tiny

Read More

0

Dow Rallies As House Clears Way For Stimulus; Apple Jumps On Car Buzz, While GME Stock Crumbles 37%

Posted on

Bloomberg

OPEC+ Is Poised to Cool Down Oil Market With Extra Production

(Bloomberg) — OPEC+ is poised to agree a production increase this week as it seeks to cool a rapid rally in crude prices.There’s a widespread view within the group that the market can absorb additional barrels, according to people familiar with the deliberations. While the usual differences are present — with Saudi Arabia cautious and Russia keen to open the taps — all sides are ready to increase production, they said, asking not to be named because the information was private.That could put the group on track to implement the majority of the 1.5 million barrel-a-day output increase that’s up for debate on Thursday.An agreement to hike OPEC+ supply would be the latest sign that the global economy is recovering from the damage wrought by the coronavirus pandemic. The cartel has endured a year of pain, dominated by

Read More

0

Darden stock jumps as Olive Garden parent cuts executive pay, to-go sales skyrocket

Posted on

A customer arrives at a Darden Restaurants Inc. Olive Garden location in San Antonio, Texas, U.S., on Thursday, June 14, 2018.

Callaghan O’Hare | Bloomberg | Getty Images

Darden Restaurants said Tuesday that it is furloughing some restaurant support center employees and slashing executive pay as same-store sales plummet 39% so far in the fiscal fourth quarter.

Shares of the restaurant company rose 13% in trading. The stock, which has a market value of $7.1 billion, has dropped 45% so far in 2020.

In the week ended Sunday, Darden’s same-store sales fell 71% across all of its chains, which include Olive Garden, LongHorn Steakhouse and Cheddar’s Scratch Kitchen.

Olive Garden’s same-store sales have declined 34.5% so far in the fourth quarter, as of Sunday. Same-store sales at LongHorn steakhouse have fallen 36.4% in the same time period. But both chains are seeing significant spikes in to-go sales per restaurant. Olive

Read More