Most Adani Group companies' stocks tanked yesterday as the Indian conglomerate's rebuttal of a U.S. short-seller's criticism failed to pacify investors. The Adani-Hindenburg battle led to a market rout causing $65 billion in losses in the group's stock values. Adani Transmission, Adani Total Gas, Adani Green Energy, Adani Power and Adani Wilmar shares plunged between 5% and 20% on Jan 31.
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The International Monetary Fund's executive board approved a $4.7 billion worth of support program for Bangladesh. Following this, the neighbouring country emerged as the first to access its new Resilience and Sustainability Facility (RSF). The funding consists of $3.3 billion under the IMF's Extended Credit Facility and Extended Fund Facility programs and $1.4 billion under the new RSF.
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DoorDash Inc.'s Chief Executive Tony Xu, Chief Technology Officer Andy Fang and Chief Product Officer Stanley Tang have decided to offload millions of shares in the company from February 2023. The three co-founders have unexercised stock options that expire on June 25, 2024, so they will sell up to 6.6 million shares among themselves. Following this, DoorDash shares plunged yesterday.
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