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Coronavirus and the Markets: What You Need to Know

Every new reported case of COVID-19, the disease caused by the novel coronavirus, seems to send the Dow Jones Industrial Average down another 100 points.
The popular perception that the federal government is unprepared for an outbreak in the United States doesn’t help matters.
That has wreaked havoc on the markets. They fell 13% in seven trading days.
Is it different this time? It certainly feels like it. Events are being canceled around the world. Schools are closing in Japan, and factories in China have temporarily shut down.
Yet more people have died from the flu in the United States in 2020 than have …read more […]

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Tilray Shares Tumble After Pot Firm Misses on Revenue and Ebitda

(Bloomberg) — Tilray Inc. shares tumbled as much as 13% in post-market trading after the cannabis company reported a wider-than-expected Ebitda loss and revenue that missed the lowest analyst estimate.Key InsightsTilray’s fourth-quarter revenue of $46.9 million was below the consensus estimate of $55.4 million and missed even the lowest analyst estimate of $53 million. It sold $17 million worth of recreational cannabis in the period, up 7.4% from the prior quarterIts adjusted Ebitda loss of $35.3 million also missed the consensus expectation of $21.8 million and was wider than the biggest estimated loss of $29.3 millionTilray announced that it closed …read more […]

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The Biggest Market Drops in History – Explained in Today’s Coronavirus Context

As I’m sure you know, U.S. stockholders lost $2.8 trillion in value last week – and $4.6 trillion since the February 19 high.
What we witnessed last week was truly history – something we’ll be talking about for decades to come.
Just this week, Barron’s said…
The black swan event Wall Street has long feared materialized with the coronavirus epidemic after an 11-year bull market.
In the midst of this carnage…
Only seven stocks in the entire S&P 500 went up last week:

Gilead Sciences (a vaccine player)
Regeneron Pharmaceuticals (another vaccine player)
CME Group (an exchange play that thrives in volatile markets)
Cboe Global Markets (another exchange play …read more […]

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Klobuchar drops out of 2020 race, will endorse Biden: NBC

Minnesota Senator Amy Klobuchar announced she would be dropping out of the 2020 presidential race and will endorse Former Vice President Joe Biden, according to NBC,. Yahoo Finance’s Jessica Smith joins Zack Guzman, Brian Cheung and Salt Financial President Alfred Eskandar on YFi PM to break down the latest. …read more […]

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Tesla Registrations Plunge in Musk’s Top European Markets

(Bloomberg) — Tesla Inc. has had a rough couple months in two European markets Elon Musk counted on for growth last year.The U.S. carmaker registered just 83 new cars in Norway last month, compared with 1,016 vehicles during the same period last year, according to data from the country’s transport authority. In the Netherlands, registrations plunged 68% to 155 units.The results are a bad omen for two of only four countries for which Tesla breaks out revenue on a quarterly basis. Registrations in Norway and the Netherlands during the first two months of the year were down 77% and 42%, …read more […]

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Senior Marijuana Use Doubles

After last week’s series of turbulent sessions, the number of Americans looking to calm their nerves with a couple of puffs could be on the rise.
We just survived the fastest correction in market history.
Not to mention the largest single-day point drop ever!
It was the worst week in a dozen years for investors.
The Dow Jones Industrial Average shed 4,000 points in a matter of days.

The Nasdaq and S&P 500 cascaded lower. And now all three of the major indexes are deep in the red for 2020.
Fears of a coronavirus pandemic suddenly leapt to “ludicrous speed.”

Personally, I believe we’re way beyond oversold.
But …read more […]