Shares of Strategy Inc (MSTR) fell nearly 4% following Bitcoin's drop below $80,000, which pressured the stock due to its leveraged exposure to the cryptocurrency. Strong US August employment data, far exceeding forecasts, increased expectations for further interest rate hikes, adding to negative sentiment on speculative assets like cryptocurrencies and related stocks. Strategy also expanded its repurchase program for preferred shares to $2 billion but excluded common stock, offering no direct benefit to regular shareholders. Despite technical resistance near $139 and overbought signals, Canaccord Genuity raised MSTR's price target to $179, maintaining a Buy rating, though near-term downside risks remain.
XRP has climbed sharply from its August low near $1.00 to trade around $1.40-$1.44, but faces resistance between $1.47 and $1.52. Trading volume and ETF inflows have slowed, indicating cautious market sentiment. Key upcoming events include the US CPI...
Sovereign Metals reported a scoping study indicating a potential $84 million annual EBITDA increase from adding a rare earth circuit at its Kasiya project in Malawi. The study suggests this circuit, recovering monazite concentrate from processing was...
Tether has frozen approximately $39.3 million in USDT across 10 Tron wallets connected to Xinbi Guarantee, a Chinese-language Telegram-based crypto escrow marketplace linked to scams and money laundering. This follows a previous freeze on Huione Guar...
MPLX LP reported a 10.3% year-over-year revenue increase and a 5% rise in adjusted EBITDA in Q2, driven by record utilization rates and strategic capacity expansions planned through 2029. The company maintains sector-leading EBITDA margins of 50.8% a...
Chord Energy Corporation reported strong second-quarter results with high oil production, solid free cash flow, and a strong balance sheet featuring minimal net debt and ample cash reserves. Management aims to return at least 75% of adjusted free cas...
