Breaking news

Nvidia Recorded The Largest One-day Drop In The Market Value Of A US Company In History

by THEFUTURE.TEAM

September 4, 2024

Nvidia recorded the largest one-day drop in the market value of a US company in history, Reuters reported.

KEY FACTS

Nvidia lost $279 billion in market capitalization, a major indication that investors are becoming more wary of emerging AI technologies that have fueled much of the stock market’s gains this year.
Nvidia’s share price fell 9.5%.
The latest worries about AI came to light after Nvidia gave a quarterly forecast last Wednesday that failed to meet high investor expectations, sending its shares skyrocketing.

IMPORTANT QUOTE

“Such a huge amount of money has gone into technology and semiconductors over the past 12 months that trading has been completely distorted,” said Todd Sohn, ETF strategist at Strategas Securities.

TANGENT

At its all-time high close in July, Nvidia booked a near-tripling of its market capitalization for 2024. However, its recent stock retreats leave it with a 118% year-to-date share price gain.

Weakness in chip stocks on Tuesday accompanied big declines on Wall Street. The Nasdaq was down 3.3%, and the S&P 500 was down 2.1%.

Devastating Hollywood Fires Cause Delay In Oscar Nominations

by THEFUTURE.TEAM

January 15, 2025

The ongoing wildfires in California, which have ravaged much of Hollywood, have forced the Academy of Motion Picture Arts and Sciences to delay the announcement of the 2024 Oscar nominations. The nominations, originally scheduled for January 16, will now be announced on Thursday, January 23.

Key Facts

The Oscar nominations voting period has been extended to Friday, January 17, moving from the original deadline of Sunday, January 12.
The 97th Academy Awards ceremony will still take place on March 2 at the Dolby Theatre.
The nominations will be announced live on YouTube.
Academy CEO Bill Kramer and President Janet Young explained in a joint statement that the extension and change in schedule were necessary due to the ongoing fires and their impact on the Los Angeles community. They expressed solidarity with those affected and emphasized the need to accommodate the region’s infrastructure and housing challenges.

Accent

The fires, including the massive Palisades Fire, which has burned over 23,000 acres, continue to ravage the Los Angeles area. The fires have claimed at least 24 lives, and 23 people are still missing. Authorities have evacuated over 90,000 residents.

Tactical Impact

The devastating fires have also led to the postponement of other major industry events. The Writers Guild of America delayed the announcement of its nominations, which were originally set for January 9. The Critics’ Choice Awards, originally scheduled for January 12, have been rescheduled to January 26.

Despite the devastation, the Academy remains committed to supporting the industry and its members during this challenging time.