Chewy shares fall nearly 7% as the boost from Roaring Kitty’s new stake diminishes

Keith Gill, aka Roaring Kitty, hosting a YouTube livestream on June 7th, 2024. Source: Roaring Kitty | YouTube The rally in Chewy shares lost steam Monday as traders reacted to a Securities and Exchange Commission filing that showed meme stock trader “Roaring Kitty” took a stake in the pet food e-commerce retailer. The filing showed … Read more

Ken Griffin says he’s not convinced AI will replace human jobs in near future

Ken Griffin speaks to Citadel and Citadel Securities interns during a discussion moderated by Citadel software engineer, and former intern, Bharath Jaladi. Courtesy: Citadel Ken Griffin, founder and CEO of Citadel, said he remains skeptical that artificial intelligence could soon make human jobs obsolete as he sees flaws in machine learning models applied in certain … Read more

How Magnificent 7 affects S&P 500 stock market concentration

Jensen Huang, co-founder and chief executive officer of Nvidia Corp., displays the new Blackwell GPU chip during the Nvidia GPU Technology Conference on March 18, 2024.  David Paul Morris/Bloomberg via Getty Images The U.S. stock market has become dominated by about a handful of companies in recent years. Some experts question whether that “concentrated” market … Read more