Unusual Whales

Hedge funds piled into tech stocks in the weeks before Nvidia earnings, now, they’re cashing out and selling at the fastest pace in seven months

Hedge funds piled into tech stocks in the weeks before Nvidia earnings. Now, they’re cashing out and selling at the fastest pace in seven months, per Bloomberg. Nvidia's impressive earnings report last week triggered significant outflows from the tech sector among hedge funds, as they moved to

Kellogg’s CEO has suggested people should eat cereal for dinner to save money

Kellogg’s CEO has suggested people should eat cereal for dinner to save money. Americans are currently spending more on food than they have in three decades, prompting Kellogg's CEO Gary Pilnick to propose a solution: have cereal for dinner. Pilnick made this suggestion during a recent TV

BREAKING: Apple, $AAPL, winding down electric car plans, ending decade-long foray into autos

Apple Inc. has made a surprising internal announcement, terminating its decade-long effort to develop an electric car, as disclosed by individuals familiar with the matter. This move marks the end of one of the most ambitious projects in the company's history. The decision was communicated on Tuesday to

The average 30-year mortgage rate is back above 7%, at 7.09%

The average 30-year mortgage rate is back above 7%, at 7.09%. The U.S. Department of Housing and Urban Development reported that the national median family income for 2023 was $96,300, while the National Association of Realtors stated that the median price of an existing home sold in

Millennials and Gen Zers are pulling in bigger paychecks than before the pandemic, but much of their spending power is fueling short-term purchases like groceries and vacations, not saving

Millennials and Gen Zers are pulling in bigger paychecks than before the pandemic, but much of their spending power is fueling short-term purchases like groceries and vacations, not saving, per NBC. The net worth of Americans ages 18-39 surged by 80% from the start of 2019 to the third quarter

Delinquency rates on credit cards and auto loans spiked to their highest since the Great Recession, according to a New York Fed and Axios

Delinquency rates on credit cards and auto loans spiked to their highest since the Great Recession, according to a New York Fed and Axios Delinquency rates on credit cards and auto loans surged to their highest levels since the Great Recession, according to a report from the New York Fed

The magnificent 7 US stocks profits now exceed almost every country in the world

The magnificent 7 US stocks profits now exceed almost every country in the world, per CNBC he group of seven major U.S. tech companies, dubbed the “Magnificent 7,” now holds more financial power than nearly every other major country globally, according to recent research from Deutsche Bank. The rapid

Apollo has said that the current AI bubble is bigger than the 1990s tech bubble

Apollo has said that the current AI bubble is bigger than the 1990s tech bubble. "The top 10 companies in the S&P 500 today are more overvalued than the top 10 companies were during the tech bubble in the mid-1990s," noted Torsten Sløk, chief economist at

Jamie Dimon of $JPM: if rates go up and we have a recession there will be real estate problems

Jamie Dimon of $JPM: if rates go up and we have a recession there will be real estate problems. JPMorgan Chase CEO Jamie Dimon noted an improvement in market sentiment for equities and mergers and acquisitions, despite maintaining caution regarding the economic outlook, as per a CNBC interview on Monday.

Wendy’s, $WEN, is planning Uber-style ‘surge pricing’ where burger prices fluctuate based on demand

Wendy’s, $WEN, is planning Uber-style ‘surge pricing’ where burger prices fluctuate based on demand. Wendy’s CEO Kirk Tanner, who assumed the role earlier this month, revealed the plan for a new pricing system in a call with investors. The company aims to begin testing the dynamic pricing menu

David Ramsey has said to stop spending $4 on a latte every morning

David Ramsey has said to stop spending $4 on a latte every morning. “You’ll spend $63 in a month. You’ll spend $766.50 in a year. You’ll spend $22,995 over the course of 30 years,” he writes. Create a Budget If you haven't already,

Reddit lists WSB as a risk factor for its IPO

Reddit's upcoming initial public offering (IPO) will offer a unique opportunity for some of its active users to purchase the stock, potentially increasing the risk for other investors. In its S-1 filing on Thursday, the social media company disclosed that certain Reddit moderators and users would be able

Bill Ackman has said this week: “Biden is done. I mean, it’s embarrassing. It’s embarrassing for the country having him as a Presidential candidate, let alone the President. It’s crazy and it’s just going to get worse""

Bill Ackman has said this week: “Biden is done. I mean, it’s embarrassing. It’s embarrassing for the country having him as a Presidential candidate, let alone the President. It’s crazy and it’s just going to get worse.” "I'm upset with him and I&

The judge who hit Donald Trump with a $355 million verdict in New York state’s civil fraud suit against him said the former president owes $99 million in interest

The judge who hit Donald Trump with a $355 million verdict in New York state’s civil fraud suit against him said the former president owes $99 million in interest, per Bloomberg. A judgment confirming Justice Arthur Engoron's February 16 decision was filed on Friday in Manhattan, establishing

The SEC has charged Houston resident with insider trading for using non-public info he obtained from his wife, a manager with BP, without her knowledge, about the company’s planned merger with TravelCenters of America

The SEC has charged Houston resident with insider trading for using non-public info he obtained from his wife, a manager with BP, without her knowledge, about the company’s planned merger with TravelCenters of America. Tyler Loudon, aged 42, has pleaded guilty to securities fraud in Houston federal court and

A recession is likely to hit the US economy in 2024, per the economist David Rosenberg

A recession is likely to hit the US economy in 2024, per the economist David Rosenberg. Rosenberg's economic indicator, referred to as the "full model," indicates an 85% likelihood of a recession occurring within the next 12 months. This is the model's highest reading

OpenAI CEO Sam Altman is one of the biggest shareholders in Reddit

Altman holds the third-largest stake in Reddit, owning 8.7% of the online discussion platform, as revealed in its IPO prospectus released on Thursday. While the filing did not specify the offering price, reports suggest Reddit aims for a valuation of at least $5 billion. This valuation would value Altman&

The net worth of Americans ages 18-39 surged by 80% from the start of 2019 to the third quarter of last year

The net worth of Americans ages 18-39 surged by 80% from the start of 2019 to the third quarter of last year. The wealth of Americans aged 18-39 soared by 80% from early 2019 to the third quarter of last year, according to research from the Federal Reserve Bank of

Only 11% of those in Gen Z have enough savings to cover the cost of living for more than a year if they had no income, while 48% cannot cover more than two months’ worth of expenses

Only 11% of those in Gen Z have enough savings to cover the cost of living for more than a year if they had no income, while 48% cannot cover more than two months’ worth of expenses, per CNBC. Meanwhile, Gen Z is prioritizing living over working because they'

$929 billion of the $4.7 trillion outstanding commercial mortgages held by lenders and investors will come due this year

$929 billion of the $4.7 trillion outstanding commercial mortgages held by lenders and investors will come due this year, per MBA. Billions of dollars of debt will fall due this year on hundreds of big US office buildings that their owners are likely to struggle to refinance at current

Jeremy Grantham has said the AI bubble will burst and take the stock market down with it

The co-founder of GMO and a long-term investment strategist predicted that the AI frenzy would lose momentum and bring down the stock market with it. The market historian also criticized the Federal Reserve for repeatedly inflating asset bubbles, and highlighted climate change, dwindling resources, and population decline as significant long-term

Mercedes-Benz is backing off its plan to only sell electric vehicles after 2030

Mercedes-Benz is backing off its plan to only sell electric vehicles after 2030 In 2021, the German automaker announced its intention to sell only electric vehicles by 2030, "where market conditions allow." However, it now appears that market conditions may not permit this. In its fourth-quarter statement released

Tyler Perry halts $800 million studio expansion after being shocked by OpenAI’a Sora

Tyler Perry halts $800 million studio expansion after being shocked by OpenAI’a Sora. Tyler Perry has halted an $800 million (£630 million) expansion of his Atlanta studio complex following the release of OpenAI's video generator Sora, warning that the film industry will likely see significant job losses

Reddit has struck a deal with Google, $GOOGL, to make its content available for training the search engine giant's artificial intelligence models

Reddit has struck a deal with Google, $GOOGL, to make its content available for training the search engine giant's artificial intelligence models, per Reuters. One of the sources indicated that the contract with Alphabet-owned Google is valued at approximately $60 million per year. This agreement highlights Reddit'

Bad commercial real estate loans have overtaken loss reserves at the biggest US banks

Bad commercial real estate loans have become a concern at major US banks as late payments on offices, shopping centers, and other properties have surged. The average reserves at JPMorgan Chase, Bank of America, Wells Fargo, Citigroup, Goldman Sachs, and Morgan Stanley have dropped from $1.60 to 90 cents