US technology giants are increasingly dominating the stock market in the midst of the coronavirus pandemic, even as they draw accusations of unfair business practices. Some investors fear the pump is primed for a tech-fuelled sell-off.
Browsing: Investment
The JSE has publicly censured Ayo Technology Solutions and imposed a R6.5-million fine on the controversial technology group after it published a series of “false and misleading” financial statements.
Cape Town-based DataProphet, a major provider of artificial intelligence solutions that enable manufacturers to implement autonomous manufacturing, has raised $6-million in a new funding round.
A Naspers shareholders’ meeting is, appropriately enough, more like the annual gathering of China’s rubber-stamp parliament, the National People’s Congress.
The enormous rally in tech stocks has further to run, according to analysts at investment bank JP Morgan, who recommend staying invested across the sector for its growth potential.
Short-term home rental company Airbnb has filed confidentially for an initial public offering with US regulators, setting the stage for one of 2020’s marquee stock market debuts.
Apple became the first publicly listed US company with a $2-trillion stock market value on Wednesday, as Wall Street investors put aside challenges to its iPhone ecosystem.
Elon Musk’s SpaceX has raised $1.9-billion in new funding, according to a regulatory filing. This would be the largest single fundraising round to date by SpaceX, according to PitchBook data.
The rand began the week stronger on Monday after President Cyril Ramaphosa announced a sweeping removal of lockdown restrictions over the weekend.
Key South African data released this week suggests a record economic contraction in the second quarter as the damage wrought by a nationwide lockdown becomes clear.