Sunday, 20 Jun 2021

Clover Health jumps 20% in premarket trading as frenzy continues. Shares are up more than 150% this week

In One Modest Cotton Sack, a Remarkable Story of Slavery, Suffering, Love and Survival

By Jennifer Szalai

When you purchase an independently reviewed book through our site, we earn an affiliate commission.

As a historian, Tiya Miles is well aware of the professional obligation to proceed with caution, to keep her own expectations from getting ahead of the material at hand.

Life at the Shore, With or Without a Partner

Buying a home tied to a hotel brand comes with advantages, and downsides. Here are some factors to consider.

By Shivani Vora

When you consider buying a waterfront property, no matter where in the world it is, there are generally two ways to go: choosing a residence affiliated with a hotel brand or one that is not.

Gold Slips As US Inflation Data Looms

Gold prices eased on Wednesday and the dollar index held firm, as investors looked to upcoming U.S. inflation data and a European Central Bank (ECB) policy meeting for directional cues.

Spot gold slid 0.2 percent to $1,889.98 per ounce, while U.S. gold futures were down 0.1 percent at $1,891.95.

U.S. benchmark 10-year Treasury yields held near their lowest in more than a month, helping limit the downside momentum.

Amid ample chatter about rising inflation, the release of key U.S. consumer inflation data on Thursday may provide some cues on policy tapering.

U.S. Treasury Secretary Janet Yellen on Sunday noted that a slightly higher interest-rate environment “would actually be a plus for society’s point of view and the Fed’s point of view”.

Data released earlier today showed that China’s factory gate prices rose at their fastest annual pace in over 12 years in May on the back of surging commodity prices.

The Bank of Canada is scheduled to announce its decision on interest rates at 10.00 am ET. Economists forecast the benchmark rate to hold at 0.25 percent.

The European Central Bank is likely to maintain a higher pace of asset purchases for another quarter when it reviews monetary policy on Thursday.

Sensex tumbles 334 points; Nifty drops below 15,650

PowerGrid, NTPC, Titan, HCL Tech and Asian Paints were among the gainers

Equity benchmark Sensex tanked 334 points on Wednesday, tracking heavy losses in index heavyweights Reliance Industries, ICICI Bank and L&T amid a weak trend in global markets.

The 30-share BSE index ended 333.93 points or 0.64% lower at 51,941.64. Similarly, the broader NSE Nifty slumped 104.75 points or 0.67% to 15,635.35.

L&T was the top loser in the Sensex pack, shedding around 2%, followed by Reliance Industries, Bajaj Finserv, IndusInd Bank, SBI, Maruti, Axis Bank and Bajaj Auto.

On the other hand, PowerGrid, NTPC, Titan, HCL Tech and Asian Paints were among the gainers.

"Domestic equities fell sharply as selling pressure in financials, auto and RIL dragged indices down," said Binod Modi, Head – Strategy at Reliance Securities.

This was the steepest correction after May 12, he said, adding that all key sectoral indices witnessed selling pressure as investors preferred to book some amount of profit ahead of crucial CPI data in the US.

Further, Asian markets also traded weak today mainly reacting on higher-than-expected jump in China’s producer price index at 9% for May.

Elsewhere in Asia, bourses in Seoul, Tokyo and Hong Kong closed in the red, while Shanghai ended with gains.

Equities in Europe were also trading on a negative note in mid-session deals.

International oil benchmark Brent crude was trading 0.36% higher at $72.48 per barrel.

Tucker Carlson’s Ridiculous ‘Hater’ Attack On Barack Obama Torn Apart On Twitter

Tucker Carlson on Tuesday again showed he’s the king of hypocrisy when he bombastically declared that former President Barack Obama is “a hater.”

Carlson — who routinely spews divisive, anti-immigrant and white nationalist rhetoric on his widely watched prime time show on Fox News — railed against Obama’s criticism of “certain right-wing media venues” in his Monday interview with CNN’s Anderson Cooper.

Obama lamented how such organizations “monetize and capitalize on stoking the fear and resentment of a white population that is witnessing a changing America and seeing demographic changes, and do everything they can to give people a sense that their way of life is threatened and that people are trying to take advantage of them.”

Carlson hit back, claiming Obama had “spent eight years dividing the country along racial lines.”

“That guy is a hater. For real,” Carlson added, responding to Obama’s mockery of the attention that conservatives are currently giving to critical race theory over other issues affecting the country.

Twitter users quickly pointed out the hypocrisy of Carlson’s attack:


Clover Health jumps 20% in premarket trading as frenzy continues. Shares are up more than 150% this week

Shares of Clover Health surged again in premarket trading on Wednesday, continuing a dramatic move for a Medicare insurance stock that has become a favorite of traders on Reddit.

Clover was trading at $26.60 per share in premarket trading, up 20% from its previous close.

The stock rose 86% on Tuesday and was up more than 100% during the session at one point. Shares also jumped 32% on Monday.

Shares of the company had struggled after a short-seller report from Hindenburg Research in February. More than 40% of the stock was sold short as of Tuesday, according to S3 Partners, which makes Clover a target for retail traders who want to cause a short squeeze.

Prior to becoming the focus of retail traders, Clover often had a daily trading volume below 10 million. On Tuesday, its shares changed hands more than 700 million times.

Clover went public last year through a merger with a special purpose acquisition vehicle. The company is one of many SPAC-related deals involving billionaire investor Chamath Palihapitiya.

The stock is up 146% on the week through Tuesday's close.

Become a smarter investor with CNBC Pro
Get stock picks, analyst calls, exclusive interviews and access to CNBC TV. 
Sign up to start a free trial today.

Related Posts