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Instablog9ja
15 m
11
A businessman, identified as Nsikak, has been accused of d3filing his tenant’s one-year-old child.
According to CrossRiverVine, the incident occurred on Tuesday, September 10, 2024, in Betem, Biase LGA, Cross River State. It was reported that the mother of the victim had recently moved into the compound. The child, along with a 7-month-old, was left to play with Nsikak’s 7-year-old son when the tragic incident took place.
After the a§§ault, Nsikak fled to his farm, leaving the child inj¥red. Angr¥ youths in the community confronted him, and he allegedly attempted to bribe them to keep quiet. The offer was rejected, and Nsikak was handed over to the police. The child was immediately taken to the hospital for medical treatment.
Investopedia 15 m 15
GameStop (GME) shares plunged in premarket trading on Wednesday after the brick-and-mortar video gamer retailer announced a 20 million share offering and reported a 31% drop in quarterly sales, as consumers continue to pivot from physical discs to digital downloads and game streaming.
The company’s shares, which shot to prominence during a pandemic-era meme stock frenzy, have seen significant price fluctuations this year as influential trader Keith Gill—also known as "Roaring Kitty"—made several cryptic posts about the retailer following a three-year hiatus.
GameStop shares were down 13% at $20.40 about 45 minutes before Wednesday's opening bell.
Below, we’ll take a look at what the technicals are saying on GameStop’s chart and identify key post-earnings price levels that investors will likely be watching.
GameStop shares have oscillated within a symmetrical triangle since meme-driven volatility subsided in early June, with bulls successfully defending the pattern’s lower trendline twice throughout August.
More recently, a three day winning streak up to the triangle’s top trendline came to an abrupt end on Tuesday, indicating uncertainty ahead of the video game retailer’s quarterly results.
Indeed, Wednesday’s projected earnings-driven drop opens the door for a potential breakdown below the pattern.
Upon a breakdown below the symmetrical triangle’s lower trendline, investors should monitor three important price levels.
Firstly, it’s worth watching the $18.50 area, a location on the chart where the shares may encounter support near the 200-day moving average (MA) and several peaks and troughs from September 2023 to August this year.
A failure to hold above this level could see the shares fall to $15.25, where investors may seek entry points near a trendline linking a period of narrow consolidation on the chart between January and March.
Further selling could drive a decline to $13.25, about 43% below Tuesday’s close, an area where the stock would likely attract buying interest near a range of comparable lows on the chart from October to March.
Amid the possibility for a meme-fueled rally in GameStop shares, it’s worth keeping an eye on the $30.50 area, where an army of retail traders who have bought at lower prices may be happy to book profits near the May 13 gap close and a series of similar trading levels in mid June.
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Instablog9ja
1 h
12
A lady has reacted to paternity fra¥d allegations involving footballer Kayode Olanrewaju and his estranged wife.
She said If he is not the biological father of his three children, then he is the problem and he should thank his wife for giving him the opportunity to be a father regardless.
Investopedia
1 h
12
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GameStop's (GME) second quarter sales declined year-over-year, missing Wall Street's expectations, but the video game retailer managed to swing to a surprise profit.
Revenue in the latest was $798 million, down 31% year over year and short of the Visible Alpha analyst consensus. Net income jumped to $14.8 million, 4 cents per share, compared to a loss of $2.8 million, or 1 cent per share, a quarter earlier. Analysts had expected the company’s loss to widen year-over-year.
Shares of GameStop fell more than 3% ahead of the results Tuesday and are down a bit less than 1% after the bell. The stock is up nore than 30% in 2024, due in part to spikes in its share price earlier this year driven by posts from the meme stock influencer known as "Roaring Kitty.”
GameStop said it would not hold an earnings call, and the company did not release guidance.
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Instablog9ja
2 hrs
10
Skitmaker NastyBlaq has tearfully announced the passing of his beloved mother.
These past few days have been filled with nothing but sadness in my heart concerning the passing of my beloved mother 8. I pray God gives me the strength to heal.
This is a great loss in my family and as much as this saddens our hearts we know she’s gone to a better place.
Rest in peace my first love, the only reason for my motivation, you will surely be missed less
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Investopedia
2 hrs
13
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Crude oil futures slipped roughly 4% in trading Tuesday after OPEC—a dominant coalition of oil-producing nations—cut back on its demand outlook and growth projections for this year and the next.
November contracts for Brent crude futures slipped to $68.68, a level not seen since May 2023, while October contracts for U.S. benchmark West Texas Intermediate Texas (WTI) dropped to $65.27, witnessed last in March 2023.
Oil prices have faltered in recent weeks because of geopolitical tensions and potential weather-related production changes. That prompted OPEC+, which comprises OPEC countries and others, including Russia, to delay its plan to boost oil production after a meeting last week.
World oil demand is expected to grow by 2 million barrels per day (B/D) to about 104.2 million B/D in 2024, slightly lower than OPEC's previous projection and the second downward revision to the number. The oil producers expect the demand to moderate further next year, growing at 1.7 million B/D.
And while oil demand seems to be slowing, OPEC said these levels were still far greater than the pre-pandemic historical average of 1.4 million B/D.
However, there are some concerns about the sustainability of demand from China, given the economic challenges the world's second-largest consumer of oil is currently facing.
"Headwinds in the real estate sector and the increasing penetration of LNG trucks and electric vehicles are likely to weigh on diesel and gasoline demand going forward," OPEC said about oil demand from China in its monthly report released Tuesday.
The resilience of U.S. consumers is helping oil as well. Despite some weakness in manufacturing demand, OPEC expects U.S. oil demand to grow in 2024, with upside potential coming from "ongoing support from steady private household consumption throughout 2H24."
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