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After three days of bloodbath, Chinese concept stocks cost Wall Street billions! The Archegos liquidation case has resulted in Bill Hwang being convicted of fraud and market manipulation.
Three years ago, the Archegos crisis caused the market cap of Chinese concept stocks, such as Baidu, Tencent Music, and VIPShop, to evaporate more than 30 billion US dollars, and also caused investment banks such as Goldman Sachs and Morgan Stanley to suffer losses of billions.
Spotify Takes the Music Industry Market Cap Crown in Omdia's Second Quarter Music Industry Share Review
New analysis from Omdia has revealed that Spotify overtook Universal Music Group (UMG) to become the biggest music industry company in market capitalization terms in the second quarter of 2024. According to the Omdia's Music Industry Sharewatch, 2Q24, Spotify's market cap at the end of June stood at $62.5bn compared with $53.7bn for UMG. Spotify's market cap increased 18.2% from $52.8bn at the end of the first quarter, while UMG's edged down 1.5% from $54.5bn.
Express News | Shares of US-listed Chinese Stocks Are Trading Higher Possibly Ahead of China's CPI and PPI Data Expected Later Today
Tencent Music Likely to Report 2Q Margin Expansion -- Market Talk
0334 GMT - Tencent Music Entertainment is likely to post a stronger 2Q gross profit margin, Jefferies analysts Thomas Chong and Zoey Zong say in a research note. The expected margin expansion is likel
Daily short sale tracking: NVIDIA's short volume increased by 4 million, with a short sale ratio of 9%
NVIDIA(NVDA.US) ranked top of the list had the largest change in short volume (4.02 million shares), and the short volume ratio of Mattel(MAT.US) reached 35.58%. See more about the top 10 list of short selling volume changes in the latest trading day of the US stock market.
Express News | Watching Tencent Music Entertainment Group; Hearing Investors Business Daily SwingTrader Buys Stock