Wed, Jul 3, 2024 9:50 AM
Penny Stock Under Rs 5: DIIs Own 43.25% Stake : GTL Infrastructure
A Flip by Riya Sharma
The S&P 500 has continued to break records, with three stocks more than doubling in value this year. Super Micro Computer has risen 194% due to its role in the AI revolution, with revenue growing to $11.8 billion in the past 12 months. Nvidia's stock has soared 151% with a valuation of $3 trillion, despite a forward P/E of 47. Vistra has risen 127% due to its focus on alternative energy sources.
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Bank of America analyst Michael Hartnett's "Magnificent Seven" stocks, including Microsoft, Apple, Nvidia, Alphabet, Amazon, Meta Platforms, and Tesla, remain dominant forces in the market. Two of these stocks, Alphabet and Meta Platforms, stand out as top-tier buys due to their strong growth and reasonable valuations. Alphabet's ad revenue rose 13% to $61.7 billion in Q1.
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China's securities regulator vowed to crack down on financial fraud, promising harsher punishment against lawbreakers to revive confidence in the country's struggling stock markets. The regulator announced guidelines to tackle cheating, with penalties including fines of up to 10 million yuan ($1.38 million) for dishonest disclosures and imprisonment of up to 10 years for violators.
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