Endeavor Mining (EDV.L)
Endeavor Mining’s share price fell sharply as the London market opened this morning, after news broke on Thursday that CEO Sebastian de Montesse had been sacked for gross misconduct related to the sale of the company’s assets. The stock fell by 12%.
The move came after a board investigation into $5.9 million in “irregular payment instructions” issued by De Montesus.
The former executive said in a statement that in 2021 he directed the company’s unnamed creditors to offset outstanding amounts owed on essential security equipment to protect partners and employees in unspecified conflict zones.
He added that the deal did not benefit him in any way, but that he did not report the wrongdoing to the board, which “I freely acknowledged was an error in judgment.”
The company is also considering responding to allegations raised in October about the CEO’s personal conduct with colleagues.
Peloton (PTON)
Shares of exercise equipment company Peloton closed nearly 14% higher on Thursday and continued to rise in pre-market trading on Friday after announcing a partnership with TikTok. As part of the deal, Peloton content will be featured in a dedicated fitness hub on the platform.
This is the first time the exercise bike company has created bespoke social content for partners outside of its own channels. TikTok has more than 1 billion active users worldwide, and this partnership will bring new audiences to the content typically licensed and distributed through the company’s machines. Become.
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Shares rose 1.3% in premarket trading.
Bitcoin has been in the spotlight this week amid heightened expectations for a U.S. Securities and Exchange Commission (SEC) decision on the various spot Bitcoin exchange-traded fund (ETF) filings working their way through the system.
The sell-off continued on Wednesday, dropping to about $41,000 before rising more than 2% to trade at $43,000 on Friday.
These ETFs allow everyday investors to trade Bitcoin (BTC-USD) just like stocks without owning it.
The approval expands widespread acceptance of the world’s largest cryptocurrency, potentially making Bitcoin the primary currency in 401(k)s, individual retirement accounts, and pension plans used by the general public.
Applicants include some of Wall Street’s biggest names, from BlackRock (BLK) to Franklin Templeton (BEN), as well as many well-known names in the crypto world.
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