Shares Surge

• Aandelen Pop Mart [HKG: 9992] stegen met 7% tijdens de handel in Hong Kong nadat miljardairsbelegger Duan Yongping op sociale media aankondigde dat hij al zijn belangen in steenkool, waaronder China Shenhua Energy, heeft ingeruild voor aandelen van de speelgoedmaker. • De zet signaleert vertrouwen in het bedrijfsmodel van Pop Mart en weerspiegelt een bredere verschuiving onder grote beleggers, weg van traditionele energiesectoren richting consumentengerichte aandelen. • De ruil demonstreert de aanhoudende belangstelling van beleggers voor Chinese consumentengerichte bedrijven, ondanks macro-economische tegenwind en regelgevend toezicht in de technologie- en financiële sectoren.

Rebrand as NewBird AI sent shares up 582% in bizarre and rapid turnaround for firm that had fallen on hard timesAllbirds, the maker of minimalist wool sneakers beloved by Silicon Valley, announced on Wednesday that it is leaving shoes behind and pivoting to artificial intelligence. The new focus and rebrand as “NewBird AI” sent the company’s stock up 582% as of mid-day during a flurry of trading.The surging stock price and new direction is a bizarre, rapid turnaround for a company that had fallen into disrepair in recent years. Once valued at $4bn, Allbirds’ shares had lost 99% of their worth since 2021 and earlier this month the company announced plans for a $39m sale to brand management firm American Exchange Company. Continue reading...

Specialist lender says it expects its slice of £9.1bn compensation set by FCA to be about £320mClose Brothers shares surged on Wednesday after the UK bank declared it could “comfortably absorb” its slice of a £9.1bn compensation bill over the motor finance scandal, hours after one of its rivals announced it was selling its UK operations over looming costs.The specialist lender said it expected the final terms of the Financial Conduct Authority’s (FCA) compensation scheme to cost roughly £320m, a sum that is “broadly similar” to previous estimates and the £294m put aside to date. Continue reading...