Chipotle's stock split, Trump Media's slide, Nvidia's rise, and an AI bubble: Markets news roundup
Plus, The IRS wants to close an ‘abusive’ tax loophole used by the ultra-rich
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Chipotle Mexican Grill’s stock reached a new 52-week high, up nearly 1.2% to $3,408 shortly after the market opened Tuesday morning, as the company’s historic stock split is almost here. The burrito chain’s 50-for-1 stock split will be one of the biggest splits in the history of the New York Stock Exchange.
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Trump Media & Technology Group stock slumped 14% on Thursday afternoon, as the company’s shares continue on their downward trajectory.
Shares of Trump Media, the company behind former President Donald Trump’s social media site Truth Social, traded at around $26.92 in midday trading, as they approach the stock’s all-time low of $22.55. The stock has fallen roughly 50% since Trump was convicted on 34 felony counts in his New York hush money trail.
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The Internal Revenue Service says it could raise more than $50 billion over the next decade by closing a major tax loophole used by the wealthy, according to the Treasury Department.
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Jim Thorne, Chief Market Strategist at Wellington-Altus, spoke with Quartz for the latest installment of our “Smart Investing” video series.
Watch the interview above and check out the transcript below. The transcript of this conversation has been lightly edited for length and clarity.
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Bitcoin’s price fell below $66,000 in Monday morning trading, extending last week’s declines as a slew of new U.S. economic data put a damper on its earlier hot streak.
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Jim Thorne, Chief Market Strategist at Wellington-Altus, spoke with Quartz for the latest installment of our “Smart Investing” video series.
Watch the interview above and check out the transcript below. The transcript of this conversation has been lightly edited for length and clarity.
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GameStop stock plunged 12% on Monday afternoon following the company’s annual shareholder meeting, which was all work and no play.
In to-the-point remarks delivered at the opening of the meeting, GameStop CEO Ryan Cohen said the company is focused on “building shareholder value over the long term.”
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Goldman Sachs lifted its year-end target for the S&P 500 to 5,600 from 5,200 — and the investment firm bets it could even go as high as 6,300.
These rosy expectations were driven by “milder-than-average negative earnings revisions and a higher fair value price/earnings multiple,” a team of strategists led by David Kostin wrote in a note to clients last Friday.
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Jim Thorne of Wellington-Altus says he’s concerned about what will happen to the stock market in 2026 and the Fed is too late to stop it
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Jim Thorne, Chief Market Strategist at Wellington-Altus, shares why he thinks AI and big tech companies will continue to be good places for investors to profit