Credit default swaps forecast AI bankruptcies
CDS spreads are deteriorating across mega-cap AI stocks including Alphabet, Amazon, Meta, and SpaceX, which all hit record spreads this week.
Results for Crypto, Stocks
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South Korea’s KOSPI has erased more than Bitcoin’s market cap in 29 days
The KOSPI has erased about $1.6T of market value since June 19, more than all the BTC in the world is worth.
Intel posts record $16B growth, workers rewarded with job cuts
Intel beat its own forecasts, posted a massive $16B in revenue, but still found a raft of jobs to terminate.
SpaceX IPO banks yell ‘buy’ as stock craters
SpaceX has shed over $1.1T since June 16, but the banks that split $500M selling its IPO still rate the stock a "buy."
Apple overtook Nvidia as largest public company this morning
Apple surpassed Nvidia at 9:40am New York time to become the world’s largest public company, then handed back that crown within an hour.
South Korea’s stock market is officially more volatile than BTC
South Korea’s stock market index, KOSPI, now swings harder on an average day than BTC, with higher annualized realized volatility.
Some SpaceX bonds have already sunk to junk-like territory
Investors lent SpaceX billions in June, and its longest-dated bonds have sunk to an effective junk-like yield of 7.5% at $0.90 on the dollar.
BNB Plus suspended by Nasdaq after failed BNB treasury bet
Anthony Scaramucci-advised treasury company BNB Plus has crashed 99.9% and has been delisted from Nasdaq.
— Crime, South Korea
Stock YouTuber stabbed in South Korea during market crash
A 20-year-old allegedly stabbed a South Korean investment YouTuber on the same day the country's stock market crashed 9%.
IBM just had its worst day since Black Monday
IBM crashed 26%, shedding $72B of its market cap in a single day after CEO Arvind Krishna confessed the company faltered during Q2.