Elon Musk has made the headlines for his wealth increasing significantly thanks to the rising valuation of Tesla Inc (NASDAQ: TSLA), a new member of the $1-trillion market capitalization club.
Mainstream adoption of cryptocurrencies is growing with each passing day, and the latest organization to hop onto the crypto bandwagon is the Wharton School.
Each day, Benzinga takes a look back at a notable market-related moment that occurred on this date.
What Happened: On Oct. 28, 2008, the Dow and S&P 500 each gained roughly 11% on optimism surrounding another potential Federal Reserve interest rate cut.
Investors who have owned stocks in the last year have generally experienced some big gains. In fact, the SPDR S&P 500 (NYSE: SPY) total return over the last 12 months is 33.6%. But there is no question some big-name stocks performed better than others along the way.
Meme coin Shiba Inu (CRYPTO: SHIB) shot up nearly 70% over 24 hours leading to press time late Wednesday to become the ninth-largest token by market cap, as per CoinGecko. This remarkable spurt of growth means it now enjoys a market capitalization larger than some familiar names.
In 2006, Google made its biggest acquisition in company history in a move that transformed it and is considered by many experts to be among the best acquisitions of all time.
General Motors Co (NYSE: GM)’s pledge to switch to an all-electric portfolio by 2035 has begun to take shape as it pumps in billions of dollars and set tighter deadlines towards electrification — and this journey prominently started in 2016 with the unveiling of the Chevy Bolt.