7:56 a.m. Nov. 5, 2020
- By Tomi Kilgore
Hall of Fame Resort & Entertainment's stock rockets as SI media deal overshadows new 'going concern' languageShares of Hall of Fame Resort & Entertainment Co. more than doubled (up 105.1%) on very heavy volume Thursday, after the football-focused entertainment company's announcement of a media deal with Sports Illustrated Studios overshadowed the "going concern" language added to the company's quarterly filing. Trading volume exploded to 73.2 million shares, enough to make the stock the most actively traded on the Nasdaq exchange, and multiples of the full-day average of around 145,500 shares. The company said that, in partnership with WaV and Sports Illustrated Studios, it will produce an original docuseries centered on the NFL Alumni Academy, the NFL Alumni Association's player development academy. Separately, the company disclosed in its 10-Q filing for the third quarter that given "recurring losses and negative cash flows, and given that the cash it currently has is less than upcoming debt maturities, there is "doubt about the company's ability to continue operations as a going concern." The "going concern" language was not included in its second-quarter 10-Q. The stock, , has tumbled 26.8% over the past three months, while the S&P 500 has gained 5.5%.
11:00 a.m. Aug. 13, 2020
- By Ciara Linnane
Coronavirus update: Global cases top 20.7 million and U.S. suffers biggest one-day death toll since May The U.S. is ‘an anomaly among the higher-income countries of the world in that we never did lock down sufficiently; we only slowed down to get the virus activity by May to a so-so level,’ says Dr. Michael OsterholmThe number of confirmed cases of the coronavirus illness COVID-19 world-wide rose above 20.7 million on Thursday and the U.S. suffered its biggest death toll since May with almost 1,500 fatalities counted in a single day.
4:19 a.m. July 29, 2020
- By Jon Swartz
Congress has a million-plus documents from Big Tech antitrust investigation, and are ready to grill big-name CEOs Bezos, Cook, Pichai and Zuckerberg will testify remotely Wednesday before House antitrust panelFor more than a year, the federal government has circled Big Tech and its business practices. On Wednesday, members of the House of Representatives will roll out evidence their staffs have found and put pressure directly on some of the most prominent executives in the world.
1:58 a.m. June 30, 2020
- By Selin Bucak
Sports are back on the pitch. So is private equity — and the competition is heating up For buyout groups that are persisting with the view that sport has significant growth potential, this has been a good time to buyBuyout groups are scouting for bargains among teams and leagues that are battling with the impact of COVID-19.