Carvana's incredible rise continues, hitting an all-time high with a staggering 10,000% increase since late 2022, much to the dismay of short sellers. Meanwhile, Microsoft celebrates a historic achievement, becoming the second company to reach a $4 trillion market cap, fueled by strong earnings and a booming cloud business. Additionally, Figma's IPO dazzles with a 250% jump on its debut, indicating a thriving market for new public offerings. The lively banter about weekend plans adds a fun twist to the financial discussions.
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Carvana's Remarkable Turnaround
Carvana shares surged to an all-time high after Q2 revenue beat estimates and net income increased six-fold.
The stock rose over 10,000% from its 2022 low, defying bearish arguments and short sellers' losses.
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Microsoft Hits $4 Trillion Market Cap
Microsoft became the second company to reach a $4 trillion market cap following strong AI-centric earnings.
Its Azure cloud sales grew 39%, surpassing analysts' 34% expectations, confirming AI leadership.
insights INSIGHT
Figma's Explosive IPO Debut
Figma's shares surged 250% in their IPO debut, far surpassing its previous Adobe merger valuation.
The company raised $1.2 billion, reflecting strong investor confidence in design software.
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- Carvana (CVNA) shares notched an all-time high this week — rising more than 10,000% from a low in late 2022 — and delivering a blow to investors betting against the online used-car dealer. The jump to record caps a roller-coaster ride for the stock that quickly became an investor darling after a public debut in 2017, but has also been plagued by criticisms ranging from claims that the company was overvalued and allegations of lax business practices. The latest gains came after the company’s blockbuster second-quarter results on Wednesday fueled expectations that a turnaround is taking hold at the embattled company.
- Microsoft (MSFT) has become the second company in the world to reach a $4 trillion market capitalization after reporting quarterly earnings that beat Wall Street’s expectations, sending the stock soaring Thursday. Shares of the technology behemoth jumped, pushing its market value to $4.1 trillion. Nvidia Corp. became the first company to hit the milestone earlier this month. The company’s latest results confirmed that it’s a leader in the artificial intelligence boom that’s lifted megacap tech stocks, and the broader market, for the last few years. Microsoft reported better-than-expected growth in its cloud business, and its closely-watched Azure cloud-computing unit posted a 39% rise in sales, handily beating the 34% analysts expected.
- Figma (FIG) shares jumped 250% in their public debut after the design software maker and some of its shareholders raised $1.2 billion in an IPO, with the trading valuing the company far above the $20 billion mark it would have reached in a now-scrapped merger with Adobe. The company sold 12.47 million shares in the IPO, which priced Tuesday, while investors including Index Ventures, Greylock Partners and Kleiner Perkins sold 24.46 million shares. The trading gives Figma a market value of nearly $55 billion, based on the outstanding shares listed in its filings. Accounting for employee stock options and restricted stock units, and restricted stock units for Chief Executive Officer Dylan Field, which are subject to vesting conditions, the fully diluted value is well above $65 billion.
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