The synthetic SpaceX perpetual contract on the decentralized exchange Hyperliquid plunged 45% in a flash crash, dropping from $2,277 to $1,254 within 30 minutes on May 28. This caused $1.51 million in liquidations across 1,393 leveraged positions held by 405 users, mostly retail traders with small margins. The crash highlights the risks of trading synthetic assets tied to private companies like SpaceX, which lacks a public price benchmark ahead of its expected June IPO. Hyperliquid's platform, built on decentralized technology, faces challenges with thin liquidity and volatile pricing in these pre-market contracts, prompting the firm to pledge compensation to affected users.
Universal Music Group's Board of Directors unanimously rejected an unsolicited buyout proposal from Pershing Square Capital Management, stating it undervalues the company and won't create superior value. The Board, supported by shareholders, highligh...
Cuprina Holdings completed a reverse stock split on May 27, 2026, aiming to meet Nasdaq's minimum $1.00 bid price requirement after failing to regain compliance. The company requested a hearing with the Nasdaq Hearings Panel to appeal a delisting det...
Kun Peng International Ltd. will implement a 1-for-10 reverse stock split of its common stock effective June 2, 2026, reducing outstanding shares from 400 million to about 40 million. The company also amended its Articles of Incorporation to reduce a...
Hedge fund billionaire Daniel Loeb increased his stake in Broadcom by buying 50,000 shares while reducing holdings in NVIDIA and Taiwan Semiconductor. Broadcom reported strong Q1 revenue of $19.31 billion, beating estimates, and expects Q2 revenue ar...
U.S. stocks reached new highs with the Dow Jones Industrial Average topping 51,000, driven by a 28% surge in Dell Technologies shares after a strong Q1 report. Dell reported $43.8 billion in revenue, up 88% year-over-year, with $24.4 billion in AI-re...
