MicroStrategy's (NASDAQ: MSTR) stock took a hit today after the company announced that it has purchased an additional 13,005 Bitcoin tokens. The announcement came at the same time that China's central bank said that it would start cracking down on cryptocurrencies. MicroStrategy's share price was down by as much as 10.7% and had fallen by 9.7% as of 2:33 p.m. EDT.
Shares of Spotify (SPOT) soared during Tuesday's afternoon trading session,after the company's first-quarter earnings surpassed analysts' estimates. Raymond James Analyst Andrew Marok joins Market Domination Overtime to discuss his bullish stance on Spotify's stock moving forward. "For the first time," Marok says, Spotify has shown they have "a double focus" on growing both users and profitability. Spotify had been "stuck on the gross margin side" for several years, but now it's gaining margins on the operational side due to "a company-wide focus on being cost-conscious," Marok believes as he emphasizes his bullish outlook on the music streamer. Marok highlights that Spotify's earnings have demonstrated "sustainability in its gross margins," attributing the jump to various factors such as "cost efficiencies on streaming delivery," new pricing increases, and "better focus on their marketplace products." He stated that these factors can be "used indefinitely," signaling continued growth in the margin outlook. For more expert insight and the latest market action, click here to watch this full episode of Market Domination Overtime. This post was written by Angel Smith
Leading artificial intelligence companies including OpenAI, Microsoft, Google, Meta and others have jointly pledged to prevent their AI tools from being used to exploit children and generate child sexual abuse material (CSAM).
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