Apple Shares Down 22% since January Peak

Apple shares fell yesterday, with the stock now about 22% below its January peak as a selloff in technology stocks spreads from more speculative shares to the world’s biggest companies.

The stock fell 2.7% to $142.56 and is trading at its lowest since October. Apple’s slump has erased about $700 Billion in market value since the Jan. 3 record, a slump that enabled Saudi Aramco to overtake the tech giant as the world’s most valuable company earlier this week.

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The U.S. Senate has been Forced to Postpone the Final Passage of the $40 Billion Ukraine aid package after Republican Rand Paul Objected to the Vote

The Senate was forced to postpone the final passage of a $40 Billion Ukraine aid package after Senator Rand Paul refused to allow the vote unless the language he demanded was added.

The Senate, where work can be slowed by objections from one senator, is now expected to vote on the legislation and send it to President Joe Biden’s desk for his signature next week.

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Germany will not Tax for Selling Bitcoin or Ethereum if Helf for Over a Year

The federal finance ministry of Germany has laid down crypto tax guidelines. German individuals can now sell bitcoin or Ethereum tax-free after one year of holding. The guidelines also deal with tax issues around crypto-centric activities like mining, staking, lending, hard forks, and airdrops.

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RobinHood Finished up 23.83% in After-Hours Trading on news that FTX CEO Sam Bankman-Fried had taken a 7.6% Stake in the Company

Sam Bankman-Fried, the CEO of crypto exchange FTX, took a sizable position in Robinhood on May 2, according to a Securities and Exchange Commission filing.

Executed through an Antiguan firm called Emergent Fidelity Technologies Ltd, the position represents a 7.6% stake in the popular trading app, according to the filing published Thursday. At over 56 million shares, it was worth nearly $482 Million at market close.

Shares of Robinhood rallied 28% after-hour trading.

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