Best printers for Home

Best Mixer Grinder

Best wired Earphones

Best 43 Inch TV in India

Best Wi Fi Routers

Best Home Theatre in India

Smart Watch under 5000

Best Laptops for Education

Best Laptop for Students

<ul class="summary-list"><li>MicroStrategy is the latest company to announce a 10-for-1 stock split as its shares hit $1,340.</li><li>Record-high prices for stocks popular with investors have driven a stock-split boom this year. </li></ul>It's been a big year for stock splits. <a target="_blank" href="https://markets.businessinsider.com/stocks/mstr-stock?miRedirects=1">MicroStrategy</a> became the latest company to announce a split on Thursday, with a 10-for-1 share split set to go into effect in early August as its shares hover around $1,340.Other major companies that have implemented stock splits or announced plans to do so this year include <a target="_blank" href="https://markets.businessinsider.com/stocks/nvda-stock?miRedirects=1">Nvidia</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/wmt-stock?miRedirects=1">Walmart</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/avgo-stock?miRedirects=1">Broadcom</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/cmg-stock?miRedirects=1">Chipotle</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/wsm-stock?miRedirects=1">Williams-Sonoma</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/ctas-stock?miRedirects=1">Cintas</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/sony-stock?miRedirects=1">Sony</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/lrcx-stock?miRedirects=1">Lam Research</a>, and <a target="_blank" href="https://markets.businessinsider.com/stocks/tpl-stock?miRedirects=1">Texas Pacific Land.</a>So, why are so many firms splitting their stock? Simply put, they want to attract more investors. Many stocks that split this year are household names, like Nvidia, which has become nearly synonymous with AI. The pricier and more popular the stock, the more likely it is to split, one expert said. "The market is up — a lot — and the most popular stocks among individual investors are among those leading the charge. The rise in the market means that more stocks are now expensive enough to justify a split while the popularity with individuals is what prompts managements to consider splits," Interactive Brokers chief strategist Steve Sosnick told Business Insider. "Frankly, if a stock has little interest from individuals, then there is little reason for a company to consider splitting."As to which stocks could be ripe for a split, Sosnick pointed to a handful of names trading above $500 a share as potential candidates. He highlighted companies like <a target="_blank" href="https://markets.businessinsider.com/stocks/azo-stock?miRedirects=1">Autozone</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/meli-stock?miRedirects=1">MercadoLibre</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/lly-stock?miRedirects=1">Eli Lilly</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/klac-stock?miRedirects=1">KLA Corp</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/nflx-stock?miRedirects=1">Netflix</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/intu-stock?miRedirects=1">Intuit</a>, <a target="_blank" href="https://markets.businessinsider.com/stocks/adbe-stock?miRedirects=1">Adobe</a>, and <a target="_blank" href="https://markets.businessinsider.com/stocks/meta-stock?miRedirects=1">Meta Platforms</a>. According to <a target="_blank" href="https://markets.businessinsider.com/stocks/bac-stock?miRedirects=1">Bank of America</a>, stock splits can be rocket fuel for prices. "Average returns one year later are 25% vs. around 12% for the broad market. Splits seem to be bullish across market regimes, something management teams might consider if shares look too expensive for buybacks," Bank of America <a target="_blank" href="https://www.businessinsider.com/stock-splits-are-bullish-high-priced-sp500-stocks-next-nvidia-2024-5">said in a note in May.</a><div type="image" title="Stock splits are bullish" height="507" width="783" msid="111669487" hostid="261" sizebytes="25064"></div>But according to Sosnick, stock splits can also have a "buy the rumor, sell the news" impact on the share price, at least in the short term."Because they don't change the underlying value of the company, it is not uncommon to see a run-up in advance of the split, then a sell-off when no new demand arrives. [Chipotle] is a good recent example of this," Sosnick said.Shares of Chipotle have dropped 12% since its shares split 50-for-1 in late June. It represented one of the largest stock splits in the history of the New York Stock Exchange.

Stock splits can be rocket fuel for a company's shares. Here's who could be next.

<ul><li>Sony's growing exposure to anime content makes it a top stock to own, according to Goldman Sachs.</li><li>The bank upgraded Sony to "Buy" and added the stock to its conviction list with a price target suggesting 29% upside.</li><li>"We believe Crunchyroll... is well-placed to benefit from accelerating Japanese anime consumption overseas," Goldman said.</li></ul><a href="https://markets.businessinsider.com/stocks/sony-stock">Sony</a> is a top stock to own thanks to its growing exposure to anime content via its Crunchyroll streaming service, according to a Wednesday note from <a href="https://markets.businessinsider.com/stocks/gs-stock">Goldman Sachs.</a>The bank upgraded Sony to "Buy" from "Neutral" and set a price target of ¥16,000 for the Tokyo-listed shares, suggesting potential upside of nearly 30% from current levels. For Sony's ADR shares, it would suggest a price target of about $115. Goldman also added Sony to its conviction list, which highlights the bank's top stock ideas.Sony <a href="https://www.businessinsider.com/guides/tech/what-is-crunchyroll">acquired Crunchyroll from AT&amp;T in 2021,</a> and Goldman expects the anime-focused streaming service to help boost the company's operating profits as well as increase the demand for anime content around the world."In the past, overseas consumers had no means of accessing a broad range of Japanese anime, but the emergence of streaming services... provides access to anime content for any consumer with a smartphone, PC, tablet or other device," Goldman explained.The bank said Crunchyroll is making a significant contribution to anime's growth in overseas markets, and that by 2036 they will account for 80% of Japanese anime sales.Crunchyroll currently has just over 10 million paying subscribers and generated an estimated $1 billion in annual revenue. Goldman expects that figure to double to 20 million subscribers by 2027. "Crunchyroll in unique position as a dedicated anime distribution platform... Crunchyroll is now positioned as the most appealing platform for Japanese anime fans both in terms of content volume and quality," Goldman said.The quality of content is a sticking point for many anime fans, and Goldman said Sony can play to that strength by acquiring and developing exclusive anime content that drives fans to sign up for the service. If Sony succeeds in growing its Crunchyroll subscriber base, it could improve earnings stability, as they will be less driven by the staggered release of blockbuster games on its Playstation 5 console."We also expect Crunchyroll to make stable earnings contributions, as its business centers on video distribution and revenues comprising a large part of monthly subscription fees. Accordingly, we expect Sony's future earnings to be less dependent on the single-year game and entertainment content pipeline than before," Goldman said.

Sony's growing exposure to anime content makes it a top stock to buy, according to Goldman Sachs

<ul class="summary-list"><li>This post originally appeared in the Insider Today newsletter.</li></ul>Good morning! <a target="_blank" rel="noopener" href="https://www.businessinsider.com/super-bowl-lviii-winner-chiefs-49ers-pat-mahomes-overtime-2024-2">What a game</a>. Congrats to the Chiefs fans and Swifties. Speaking of Taylor, she wasn't the only celeb at the game. <a target="_blank" rel="noopener" href="https://www.businessinsider.com/super-bowl-celeb-photos-taylor-swift-travis-kelce-elon-musk-2024-2">Here are some other high-profile attendees</a>. In today’s big story, we’re looking at why the Magnificent 7’s domination of the stock market <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tech-stocks-ai-bubble-dotcom-crash-magnificent-7-nvidia-microsoft-2024-2">might not be such a bad thing</a>. What's on deck:<ul><li>Markets: BlackRock shook up its <a target="_blank" href="https://www.businessinsider.com/blackrock-financial-markets-advisory-brandon-hall-ben-leax-2024-2">secretive unit that advises governments</a>.</li><li>Tech: Inside Amazon’s plan to <a target="_blank" href="https://www.businessinsider.com/amazon-one-medical-project-espresso-reset-amazon-healthcare-bet-2024-2">reset its big bet on healthcare</a>.</li><li>Business: Jon Stewart’s coming back, but it’s to <a target="_blank" rel="noopener" href="https://www.businessinsider.com/jon-stewart-daily-show-audience-old-small-tv-ratings-streaming-2024-2">a much different TV world</a>.</li></ul>But first, don't sweat it.If this was forwarded to you, <a target="_blank" href="https://www.businessinsider.com/subscription/newsletter/insider-today">sign up here.</a><h2>The big story</h2><h3>The S&amp;P 500 7</h3><div type="image" title="An illustration picture taken in London on December 18, 2020 shows the logos of Google, Apple, Facebook, Amazon and Microsoft displayed on a mobile phone with an EU flag displayed in the background." height="3318" width="4977" msid="107635455" hostid="261" sizebytes="189730"></div>The stock market is looking a lot less like a "market" these days.The Magnificent 7 stocks — Alphabet, Amazon, Apple, Meta, Microsoft, Nvidia, and Tesla — account for roughly 29% of the S&amp;P 500 these days, according to data from Goldman Sachs. Such a top-heavy market creates unique occurrences. The S&amp;P 500 closed at a record high earlier this month despite more than <a target="_blank" href="https://markets.businessinsider.com/news/stocks/us-stock-market-outlook-tech-ai-bubble-dotcom-crash-economy-2024-2">twice as many stocks being down compared to those that were up</a>. The high market concentration has some concerned we could be on the cusp of disaster. But for others, like BMO’s chief investment strategist Brian Belski, <a target="_blank" href="https://markets.businessinsider.com/news/stocks/mega-cap-tech-concentration-stock-market-risks-overblown-bmo-belski-2024-2">the risk is overstated</a>, writes Business Insider’s Matthew Fox. The market has actually done well the year after the biggest stocks in the S&amp;P 500 outperformed the index, posting an average return of 14.3%. The index did drop after the tech bubble burst in 2000. But comparisons between the dot-com era and the current market <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tech-stocks-ai-bubble-dotcom-crash-magnificent-7-nvidia-microsoft-2024-2">are misguided</a>, writes BI’s Aruni Soni. The late ‘90s were full of companies charging into the public markets with more promise and potential than product and profit. This time around, what’s driving the market is highly profitable <a target="_blank" href="https://markets.businessinsider.com/news/stocks/tech-stocks-ai-bubble-dotcom-crash-magnificent-7-nvidia-microsoft-2024-2">companies with much stronger fundamentals</a>.<div type="image" title="BMO note" height="365" width="563" msid="107635456" hostid="261" sizebytes="22262"></div>The question of where that Magnificant 7 money goes remains to be seen.David Sekera, a senior US market strategist for Morningstar, told me he thinks it’s a good time for investors of those stocks to lock in some profits and reinvest in companies that lagged last year’s rally.The research firm’s five-star rating system for stocks is less bullish on the Magnificent 7 these days, after viewing almost all of them as undervalued to start 2023.Microsoft, Amazon, and Tesla have three stars, indicating a fair market value, while Apple, Nvidia, and Meta have two stars, indicating they are overvalued. Alphabet, with a four-star rating, is the only one among the group considered undervalued. Small-cap stocks, which some investors <a target="_blank" href="https://markets.businessinsider.com/news/stocks/stock-market-outlook-small-cap-stocks-big-upside-valuation-signal-2024-1">have speculated could have a big year</a>, are a potential landing spot for money rotating out of the Magnificent 7, Sekera told me. But some investors might want to keep their money in large-cap stocks. If that’s the case, blue-chip stocks like Exxon Mobil, Pepsi, and McDonald’s, all of which are rated four stars, could see interest, Sekera told me.Still, money moving out of the Magnificent 7 and into other stocks is not guaranteed to be a smooth transition. Geopolitical risks, uncertainty around the next interest rate cuts, and a looming US presidential election pose additional unknown risks.<h2>Your Monday headline catchup</h2>A quick recap of the top news from over the weekend:<ul><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/biden-netanyahu-relations-congress-israel-aid-2024-2">Biden and Netanyahu's relationship hits new low just as Congress gets ready to send Israel another $14 billion</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/super-bowl-lviii-winner-chiefs-49ers-pat-mahomes-overtime-2024-2">The Kansas City Chiefs beat the San Francisco 49ers 25 to 22 in Super Bowl LVIII</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/uber-lyft-driver-pay-protest-valentines-day-gig-economy-california-2024-2">Uber and Lyft drivers are staging a nationwide protest on Valentine's Day</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/trump-claimed-pennsylvanias-name-will-change-he-loses-the-state-2024-2">Trump bizarrely claims 'they' will change the name of the state of Pennsylvania if he loses it</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/jeff-bezos-sold-2-billion-amazon-shares-worlds-richest-man-2024-2?mrfhud=true">Bezos just sold off $2 billion in Amazon shares in what could be a strategy to make him the richest man in the world — again</a>.</li><li><a target="_blank" rel="noopener" href="https://www.businessinsider.com/democrats-biden-mind-fine-special-counsel-report-sunday-shows-2024-2">Democrats flooded the Sunday shows to insist Biden's mind is just fine</a>.</li></ul><h2>3 things in markets</h2><div type="image" title="BlackRock executive Charles Hatami, BlackRock CEO Larry Fink, and former BlackRock executive Craig Phillips on top of a BlackRock logo pattern and a black background" height="1200" width="2400" msid="107635458" hostid="261" sizebytes="335372"></div>1. BlackRock switched things up at its secretive unit that advises governments. The world’s largest money manager <a target="_blank" href="https://www.businessinsider.com/blackrock-financial-markets-advisory-brandon-hall-ben-leax-2024-2">promoted two executives who ran Financial Markets Advisory</a>. The unit, <a target="_blank" href="https://www.businessinsider.com/inside-blackrock-financial-markets-advisory-business-consulting-aladdin-2021-6">which serves as a consulting arm for BlackRock</a>, has been an internal launching pad for leaders.2. The commercial real estate crisis could force the Fed’s hand. Economist Komal Sri-Kumar said ongoing issues in the sector <a target="_blank" href="https://www.businessinsider.com/rate-cuts-fed-real-estate-crisis-regional-bank-systemic-risk-2024-2">might require the Fed to lower rates by May</a>. Sri-Kumar cited the 2008 financial crisis as a lesson in why the central bank shouldn’t wait too long. 3. Four top investors and economists aren't feeling great about the market. Jeremy Grantham, David Rosenberg, Jeffrey Gundlach, and Gary Shilling have all voiced concerns about the US still slipping into a recession. <a target="_blank" href="https://www.businessinsider.com/stock-market-outlook-recession-economy-warnings-grantham-gundlach-rosenberg-shilling-2024-2">Here’s what has got them so worried</a>, from overpriced stocks to the government’s aggressive spending. <h2>3 things in tech</h2><div type="image" title="Photo Collage featuring One Medical Office Building, Amazon Logo, pills and money" height="900" width="1200" msid="107635460" hostid="261" sizebytes="77612"></div>1. The secretive, painful reset of Amazon’s big healthcare bet. The tech giant paid $3.9 billion for One Medical as part of a push into healthcare. But with hundreds of millions in losses and questions about strategic direction, Amazon <a target="_blank" href="https://www.businessinsider.com/amazon-one-medical-project-espresso-reset-amazon-healthcare-bet-2024-2">embarked on a secret initiative to get back on track</a>.2. Hollywood’s real competition is YouTube, not Netflix. For all the praise Netflix has gotten for winning the streaming wars, YouTube <a target="_blank" href="https://www.businessinsider.com/youtube-not-netflix-is-big-threat-to-hollywood-analysis-2024-2">is still tops for view time and advertising</a>. It’s also winning in areas that matter to Gen Z.3. SoftBank’s Masayoshi Son is all in on AI. SoftBank realized a $72 billion gain on its investment in Alibaba over two-plus decades. But after essentially exiting its position completely, <a target="_blank" href="https://www.businessinsider.com/softbank-masayoshi-son-jack-ma-bet-ai-2024-2">the firm is turning to AI, albeit with mixed results</a>.<h2>3 things in business</h2><div type="image" title="Illustration of employees frustrated." height="900" width="1800" msid="107635462" hostid="261" sizebytes="45922"></div>1. Gen Zers aren’t the only ones fed up with their employers. It turns out that Gen X and Boomers aren’t as loyal to their workplace as senior correspondent Aki Ito previously thought. After all, <a target="_blank" href="https://www.businessinsider.com/work-loyalty-gen-z-millennials-gen-x-boomers-employee-engagement-2024-2">they actually remember when their companies used to treat them well</a>.2. Welcome back, Jon Stewart. His highly anticipated return to “The Daily Show” happens tonight, <a target="_blank" href="https://www.businessinsider.com/jon-stewart-daily-show-audience-old-small-tv-ratings-streaming-2024-2">but a lot has changed in the TV landscape since he’s been gone</a>. The people still tuning into their televisions are a much older and smaller group.3. Secretly working two jobs is risky, but it might be worth it. Job security was a major reason one millennial took a second remote gig on the sly — now he’s making $250,000 a year. <a target="_blank" href="https://www.businessinsider.com/overemployed-remote-worker-jobs-tech-layoffs-savings-credit-card-debt-2024-2">He shared some advice for overemployed</a> workers trying to pull it off.In other news<ul><li><a target="_blank" href="https://www.businessinsider.com/industrious-merger-breather-deskpass-flex-workspace-co-working-wework-2024-2">Industrious merges subsidiary to create a new force in coworking</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/how-to-manage-your-boss-2024-2">How to manage your boss</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/habits-most-likely-to-give-job-interviewers-hiring-recruiters-ick-2024-2">Dumb jokes, lateness, and saying 'literally': 11 habits most likely to give hiring managers the ick</a>.</li><li><a target="_blank" href="https://www.businessinsider.com/gen-z-work-fashion-tips-stylists-2024-2">Gen Z doesn't know how to dress for work. Here are 5 fashion tips to elevate your workwear, according to stylists</a>.</li></ul>What's happening today<ul><li>Today’s earnings: Goodyear Tire and Rubber Company and other <a target="_blank" href="https://markets.businessinsider.com/earnings-calendar">companies are reporting</a>.</li></ul>The Insider Today team<a target="_blank" href="https://www.businessinsider.com/author/dan-defrancesco">Dan DeFrancesco</a>, deputy editor and anchor, in New York. <a target="_blank" href="https://www.businessinsider.com/author/hallam-bullock">Hallam Bullock</a>, editor, in London. <a target="_blank" href="https://www.businessinsider.com/author/jordan-parker-erb">Jordan Parker Erb</a>, editor, in New York.Get in touch<a target="_blank" rel="noopener" class="insider-today-blue-link" href="mailto:insidertoday@insider.com">insidertoday@insider.com</a>To read unlimited articles, <a target="_blank" rel="noopener" href="https://www.businessinsider.com/subscription">subscribe</a> to Business Insider.

Magnificent 7 stocks aren't setting the market up for another tech bubble

Zee Entertainment, Zomato, Medplus Health and other hot stocks on December 23

<ul class="summary-list"><li>Shares of <keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony" source="Orion">Sony</keyword> Group jumped after the company announced it is acquiring <keyword id="13074813" type="UNKNOWN" weightage="60" keywordseo="bungie" source="Orion">Bungie</keyword> for $3.6 billion.</li><li>Bungie, founded in 1991, is the developer behind the <keyword id="13074816" type="UNKNOWN" weightage="60" keywordseo="destiny" source="Orion">Destiny</keyword> franchise.</li><li>The move follows <keyword id="11895708" type="UNKNOWN" weightage="60" keywordseo="microsoft" source="Orion">Microsoft</keyword>'s acquisition of <keyword id="11948810" type="UNKNOWN" weightage="60" keywordseo="activision" source="Orion">Activision</keyword> and Take-Two Interactive's purchase of Zynga.</li></ul>Shares of Sony Group jumped on Monday after the company <a href="https://www.businesswire.com/news/home/20220131005684/en/Sony-Interactive-Entertainment-to-Acquire-Leading-Independent-Videogame-Developer-Bungie">announced</a> it is acquiring Bungie — the developer behind Destiny and <keyword id="13074815" type="UNKNOWN" weightage="60" keywordseo="halo" source="Orion">Halo</keyword> franchises — for $3.6 billion as video game mergers and acquisitions heat up.Sony's stock price surged 5.92% to $113 at 1:22 p.m. in New York. It was last seen trading 3.78% higher to $110 as of 2:55 p.m ET. The company's American depositary receipts were halted pending the news.The move follows <a href="https://markets.businessinsider.com/stocks/msft-stock">Microsoft</a>'s blockbuster <a href="https://www.businessinsider.com/microsoft-buys-activision-in-a-nearly-70-billion-deal-2022-1">acquisition of Activision</a>, the major video game publisher behind the "Call of Duty" franchise, in an all-cash deal valued at about $68.7 billion, and Take-Two Interactive's <a href="https://www.businessinsider.com/take-two-interactive-buys-zynga-13-billion-deal-video-games-2022-1">purchase of mobile game maker Zynga</a> in a deal worth $12.7 billion. Take-Two is the video game publisher behind "Grand Theft Auto" and "Red Dead Redemption."This acquisition will give Sony access to Bungie's live service games, notably "Destiny." Bellevue, Washington-based Bungie will continue to operate independently and will maintain its ability to self-publish, the announcement said.After the acquisition, Bungie will be an independent subsidiary of Sony Interactive Entertainment. It will be led by its Board of Directors, which is chaired by Pete Parsons, Bungie's CEO and chairman. Sony said the transaction is still subject to closing conditions, including regulatory approvals.Importantly for gamers, Bungie's games will still be multiplatform, Sony said in its announcement of the deal. Microsoft's acquisition of Activision has sparked concerns that some of the most well-known franchises would end up exclusive to Xbox, similar to upcoming titles from Bethesda after the company was sold to Microsoft in 2020. "We've had a strong partnership with Bungie since the inception of the Destiny franchise, and I couldn't be more thrilled to officially welcome the studio to the PlayStation family," Jim Ryan, president and CEO, of Sony Interactive Entertainment, said in a statement. "What does Bungie bring to Sony? Well apart from some hugely successful IPs (especially Destiny) there are 800 developers with free to play and Gaming as a Service experience," said Neil Campling, head of TMT Research at Mirabaud Securities, in a note Monday. The Japanese entertainment and technology giant has regularly purchased video game studios in the past, although its acquisition of Bungie is among its largest.This isn't Bungie's first time being acquired. In 2000, it was purchased by Microsoft for around $30 million. In 2007, Bungie gained independence after releasing Halo 3. After that, Bungie signed a <a href="https://www.wired.com/2010/04/bungie-activision/">decade-long deal with Activision</a> that ended in 2019.

Sony jumps after announcing deal to acquire Bungie for $3.6 billion as video game M&A heats up

<ul><li><keyword id="1673591" type="General" weightage="20" keywordseo="indian-residents" source="Orion">Indian residents</keyword> are required to report their foreign investments, which may include holdings in foreign <keyword id="6354298" type="General" weightage="20" keywordseo="stocks" source="Orion">stocks</keyword>, bonds, or other financial instruments. </li><li>Ownership of foreign real estate, whether residential or commercial, must be reported to Indian tax authorities. </li><li>If you possess ESOPs from a foreign company, you are required to disclose these foreign holdings when filing your <keyword id="6354751" type="General" weightage="20" keywordseo="income-tax" source="Orion">income tax</keyword> return. </li></ul>Recently, the IT Appellate Tribunal of Mumbai imposed a penalty of ₹10 lakh per year on <keyword id="59866" type="General" weightage="20" keywordseo="taxpayers" source="Orion">taxpayers</keyword> who failed to report <keyword id="466213" type="General" weightage="20" keywordseo="foreign-assets" source="Orion">foreign assets</keyword> under schedule FA of the income tax return (ITR) form. The penalty was levied under black money Act. Compared to the Income Tax Act, the penalty under the black money act is enormous. "The ITAT decision is a wake-up call for many working professionals and NRIs regarding the complexity of tax compliance in India; even if the taxpayer has paid their taxes, mere non-disclosure results in hefty penalties,” says Suneel Dasari, CEO and founder, EZtax.in. Here's a breakdown of the key foreign assets and income that must be disclosed in the income tax returns. <cmsannotation type="cmsannotation" annotationid="Foreign investments" comment="Subhead" text="Foreign investments">Foreign investments</cmsannotation>: Indian residents are required to report their foreign investments, which may include holdings in foreign stocks, bonds, mutual funds, or other financial instruments. This reporting extends to income generated from these investments, such as dividends, interest, or capital gains. Individuals need to disclose the nature and value of these investments in their tax returns. For example, if you have invested in shares of Microsoft or Apple, the investments and any income from them, need to be disclosed when filing your tax returns. <cmsannotation type="cmsannotation" annotationid="ESOPs" comment="subhead" text="ESOPs">ESOPs</cmsannotation>: If you possess employee stock ownership plans (ESOPs) from a foreign company, you are required to disclose these foreign holdings when filing your income tax return, typically under schedule FA. “In India, when an Indian employee is allotted shares of a foreign parent company as a part of their compensation or as an employee stock option plan (ESOP), it is considered an investment in foreign assets,” says Abhishek Soni, CEO, Tax2Win.in, a tax filing platform. Foreign bank accounts: Any foreign bank accounts, whether savings, current, or fixed deposit accounts, must be reported. This includes accounts held individually or jointly, along with details such as the name of the bank, account numbers, and the highest balance maintained during the financial year. <cmsannotation type="cmsannotation" annotationid="Foreign real estate" comment="Subhead" text="Foreign real estate">Foreign real estate</cmsannotation>: Ownership of foreign real estate, whether residential or commercial, must be reported to Indian tax authorities. This includes details about the property's location, current market value, and any income generated from it, such as rental income. “Any rental income or capital gains from selling these assets may be subject to taxation,” says Soni. <cmsannotation type="cmsannotation" annotationid="Financial or beneficial interest in overseas entities" comment="Subhead" text="Financial or beneficial interest in overseas entities">Financial or beneficial interest in overseas entities</cmsannotation>: In case an individual possesses a financial or beneficial stake in any overseas entity, such as serving as a partner in an overseas limited liability partnership (LLP) or firm, or receiving benefits from a foreign private trust, it is imperative to disclose this interest in accordance with tax regulations. “Residents in India with foreign income from ESOPs, or the voluntary purchase of foreign stock or other non-tangible instruments are at risk due to country or central bank level reciprocity agreements that would allow the Indian government access to information that would otherwise be unavailable,” says Dasari. Non-declaration also revokes your right to claim relief under the double taxation avoidance agreement for your foreign income. Hence it is critical to disclose such foreign assets in the schedule FA of ITR.

Have foreign assets or income? Not disclosing it may lead to heavy penalties

<ul class="summary-list"><li>US stocks closed higher on the last trading day of January, wrapping up one of the worst months since the pandemic began.</li><li>The whiplash in equities began with jitters that the Fed will make an aggressive pivot to fight inflation</li><li>Mega-cap tech firms including Alphabet, Facebook, and Amazon are all set to report this week.</li></ul>US stocks closed the last trading day of January in the green as investors braced for more fourth-quarter earnings results amid a more hawkish Federal Reserve. January marked one of the worst months for equities since the pandemic began as investors grappled with a more aggressive central bank determined to tighten monetary policy in order to tamp down surging inflation.The benchmark <keyword id="11898248" type="UNKNOWN" weightage="60" keywordseo="sp-500" source="Orion">S&amp;P 500</keyword> and the <keyword id="11907242" type="UNKNOWN" weightage="60" keywordseo="dow-jones-industrial-average" source="Orion">Dow Jones Industrial Average</keyword> closed higher on Monday. Meanwhile, the tech-heavy <keyword id="6357328" type="UNKNOWN" weightage="60" keywordseo="nasdaq" source="Orion">Nasdaq</keyword> Composite spiked over 3%.Here's where US indexes stood shortly after 4:00 p.m. ET close on Monday:<ul><li><a href="https://markets.businessinsider.com/index/s&amp;p_500?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">S&amp;P 500</a>: 4,515.53, up 1.89% </li><li><a href="https://markets.businessinsider.com/index/dow_jones?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Dow Jones Industrial Average</a>: 35,131.86, up 1.17% (406.39 points)</li><li><a href="https://markets.businessinsider.com/index/nasdaq_composite?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Nasdaq Composite</a>: 14,239.88, up 3.41% </li></ul>The whiplash in US equities began with jitters that a Fed determined to curb inflation will turn aggressively hawkish. That included worries the central bank may hike rates and start to shrink its nearly $9 trillion balance sheet faster than expected this year."It seems the Fed will struggle to reach a clear consensus over how aggressive the March liftoff will be, so aggressive 'buying the dip' won't be happening anytime soon," Edward Moya, senior equity analyst at Oanda, said in a Monday note. "Economic conditions are still looking good this year but repositioning overvaluations and growth concerns will likely keep volatility elevated over the short-term."Meanwhile, earnings season continues with mega-cap tech firms <a href="https://markets.businessinsider.com/stocks/aapl-stock">Alphabet</a>, <a href="https://markets.businessinsider.com/stocks/fb-stock">Meta Platforms' Facebook</a>, and <a href="https://markets.businessinsider.com/stocks/amzn-stock">Amazon</a> set to report this week."A reminder of the real strength in well-established companies should give strength and confidence to investors to stay the course and look for bargains," Louis Navellier, chair and founder of fund manager Navellier &amp; Associates, said in a Monday note.<keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony" source="Orion">Sony</keyword> <a href="https://markets.businessinsider.com/news/stocks/sony-bungie-acquisition-stock-price-destiny-halo-playstation-2022-1">jumped nearly 6%</a> in Monday's session after the company <a href="https://www.businesswire.com/news/home/20220131005684/en/Sony-Interactive-Entertainment-to-Acquire-Leading-Independent-Videogame-Developer-Bungie">announced</a> it is acquiring <keyword id="13074813" type="UNKNOWN" weightage="60" keywordseo="bungie" source="Orion">Bungie</keyword> — the developer behind Destiny and Halo franchises — for $3.6 billion as video game mergers and acquisitions heat up.Spotify <a href="https://markets.businessinsider.com/news/stocks/spotify-stock-price-joe-rogan-covid-19-vaccines-neil-young-2022-1">surged 11%</a> as the audio <a href="https://www.businessinsider.com/what-is-streaming?utm_medium=ingest&amp;utm_source=markets">streaming</a> company said it will add an advisory to content containing discussions about COVID-19, a response to criticism that "The Joe Rogan Experience" program was spreading misinformation about the virus. Robinhood <a href="https://markets.businessinsider.com/news/stocks/robinhood-stock-price-cathie-wood-ark-invest-hood-2022-1">popped 11%</a> as Cathie Wood's Ark Invest revealed it bought the dip following <a href="https://markets.businessinsider.com/news/stocks/robinhood-stock-price-q4-earnings-guidance-outlook-trading-app-hood-2022-1?utm_medium=ingest&amp;utm_source=markets">lackluster earnings</a> from the popular trading app last week. The <a href="https://markets.businessinsider.com/rates/u-s--rates-10-years?utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets&amp;utm_medium=ingest&amp;utm_source=markets" target="_blank" rel="noopener">10-year Treasury</a> yield fell to 1.782% from Friday's 1.779%. Bond yields move inversely to prices. Oil prices hovered near seven-year highs as tensions over Russia and Ukraine are still drawing the market's attention ahead of this week's OPEC+ meeting to discuss a March production increase.<a href="https://markets.businessinsider.com/commodities/oil-price?type=wti&amp;utm_medium=ingest&amp;utm_source=markets">West Texas Intermediate crude</a> oil rose as much as 1.70% to $88.30 per barrel. <a href="https://markets.businessinsider.com/commodities/oil-price?utm_source=markets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest%3Futm_source%3Dmarkets&amp;utm_medium=ingest&amp;utm_medium=ingest&amp;utm_source=markets">Brent crude</a>, oil's international benchmark, jumped as much as 1.31% to $91.21 per barrel, and is headed for its best January in at least 30 years. <a href="https://markets.businessinsider.com/commodities/gold-price?utm_medium=ingest&amp;utm_source=markets">Gold</a> rose 0.48% to $1,798.02 per ounce.

US stocks rise to close volatile January as Nasdaq rallies over 3% ahead of mega-cap tech earnings

<ul class="summary-list"><li><keyword id="11911241" type="UNKNOWN" weightage="60" keywordseo="amc" source="Orion">AMC</keyword> and <keyword id="11933011" type="UNKNOWN" weightage="60" keywordseo="sony-pictures" source="Orion">Sony Pictures</keyword> are offering 86,000 NFTs to early buyers of the latest Spider-Man film.</li><li>The offering caused online ticket sales "to soar to the highest ever," AMC CEO <keyword id="12055581" type="UNKNOWN" weightage="60" keywordseo="adam-aron" source="Orion">Adam Aron</keyword> said.</li></ul><a href="https://markets.businessinsider.com/stocks/amc-stock">AMC</a> is offering thousands of NFTs in conjunction with early movie-ticket sales of the latest Spider-Man movie.The movie theater chain and Sony Pictures teamed up to offer up to 86,000 non-fungible tokens, aka NFTs, to <keyword id="11948148" type="UNKNOWN" weightage="60" keywordseo="retail-investors" source="Orion">retail investors</keyword> and rewards members who pre-order tickets to the December 16 premiere of "Spider-Man: No Way Home," the company said <a href="https://investor.amctheatres.com/newsroom/news-details/2021/Members-of-AMC-Stubs-and-Investor-Connect-to-Receive-an-Exclusive-SPIDER-MAN-NFT-with-an-Advance-Ticket-Purchase-for-Opening-Day-of-Sony-Pictures-SPIDER-MAN-NO-WAY-HOME-at-All-AMC-Theatres-U.S.-Locations-While-Supplies-Last/default.aspx">in a Sunday press release</a>.Only AMC Investor Connect, the <a href="https://markets.businessinsider.com/news/stocks/amc-launches-program-to-communicate-with-day-traders-2021-6">rewards program for retail investors</a>, and AMC Stubs Premiere &amp; A-List members are eligible for one of the thousands of <keyword id="11919795" type="UNKNOWN" weightage="60" keywordseo="nft" source="Orion">NFT</keyword>s, which come in 100 different designs, the press release said. AMC will deliver instructions to retrieve the NFT via email on December 22, and it must be redeemed by March 1, 2022.In a Sunday tweet, AMC Chief Executive Officer Adam Aron wrote, "They'll go quick!" In the upcoming film, <a href="https://www.insider.com/spider-man-no-way-home-new-trailer-video-2021-11">a trailer revealed</a> Spider-Man will face popular enemies like Doc Ock, Green Goblin, and Electro. Spider-Man, played by <keyword id="11932133" type="UNKNOWN" weightage="60" keywordseo="tom-holland" source="Orion">Tom Holland</keyword>, is joined in the cast by Zendaya and Benedict Cumberbatch, among others. On Monday, <a href="https://twitter.com/CEOAdam/status/1465257591794282501">Aron said</a>, "Our <a href="https://twitter.com/hashtag/AMCFirstEverNFT?src=hashtag_click">#AMCFirstEverNFT</a> with <a href="https://twitter.com/SonyPictures">@SonyPictures</a> and Spider-Man: No Way Home caused AMC's online ticketing traffic Sunday night/Monday morning to soar, to the highest ever in AMC's entire history. Oh did we sell tickets! But we are sorry wait times got long with the unprecedented volumes."Aron has <a href="https://markets.businessinsider.com/news/stocks/how-amc-ceo-adam-aron-embraced-the-company-meme-status-2021-6">become a leader</a> among the retail investing community. He's capitalized on interest from retail traders — who have driven his stock price up <a href="https://www.businessinsider.com/2021-thanksgiving-day-craziest-market-stories-meme-stocks-nfts-crypto-2021-11">more than 1,700%</a> since the beginning of the year — through tweets and perks like free popcorn. And now he's doing it through NFTs, which are digital pieces of art tied to the blockchain. The digital tokens along with blockchain technology have been criticized for harming the environment, but AMC said its offering is "eco-friendly." The press release said, "The Spider-Man NFT will be available to be redeemed at a dedicated site operated by WAX, an energy efficient, ultra-low carbon footprint blockchain and the first certified carbon neutral."

AMC is offering 86,000 NFTs to retail investors and movie theater rewards members who preorder Spider-Man tickets

<ul><li><keyword id="6358540" type="General" weightage="100" keywordseo="sony" source="Orion">Sony</keyword> has announced a special summer offer discount for all the PS5 variants.</li><li>The new effective price starts at ₹49,990 for the standard variant, and the digital variant is now priced at ₹39,990.</li><li>Both the variants are essentially back to the original price, which the company recently hiked.</li></ul> Japanese tech giant Sony has announced a price cut for their popular gaming console <keyword id="2428812" type="General" weightage="20" keywordseo="playstation-5" source="Orion">PlayStation 5</keyword> by ₹5000 for a special summer offer. The console is essentially back to its original launch price, which was <a href="https://www.businessinsider.in/tech/news/sony-hikes-the-prices-of-playstation-5-by-up-to-10/articleshow/93774516.cms#:~:text=The%20PlayStation%205%20is%20priced,5%20in%20the%20coming%20days.">recently hiked</a> by the company citing “challenging economic conditions.” But note that the price cut is temporary and might be reversed later. So we suggest you grab it when the stocks last and save some precious bucks. The flagship console, synonymous with gaming, is famous for hosting famous IPs like - The Last of Us and God of War. <cmsannotation type="cmsannotation" annotationid="Summer offer prices for PS5 variants" comment="subhead" text="Summer offer prices for PS5 variants">Summer offer prices for PS5 variants</cmsannotation> After the affected discount, the standard variant of the PS5 will now be priced at ₹49,990. The original sticker price for the same was ₹49,990. There is also a digital variant of the PS5 which does not feature a disk slot. This variant is now priced at ₹39,990. The original price for this variant was ₹44,990. These prices will be effective from 1st April 2023 and valid for a limited period. If you are eyeing the PS5 God of War Ragnarock bundle, you can now get it for ₹54,990. This is also ₹5000 less than its original asking price. Sony has confirmed that these prices are effective on all partner platforms like - Amazon, Flipkart, Chroma, Vijay Sales, Reliance Digital, and Sony offline and online stores. This price discount also put forward PS5’s stock situation, which has not been good due to supply chain issues and chip shortage. The news of the PS5 being sold in the black market way over sticker price was not a pretty sight. So perhaps, PS5 is now locked, stocked, and loaded, and it’s time for all of us to get one. See Also - <a href="https://www.businessinsider.in/business/startups/news/over-23000-techies-lose-jobs-in-nearly-82-indian-startups-to-date/articleshow/98995122.cms" data-type="tilCustomLink">Over 23,000 techies lose jobs in nearly 82 Indian startups to date</a> <a href="https://www.businessinsider.in/tech/mobile/news/samsung-unveils-galaxy-f14-5g-with-6000-mah-battery-in-india/articleshow/98972834.cms" data-type="tilCustomLink">Samsung unveils Galaxy F14 5G with 6000 mAh battery in India</a>

Sony PlayStation 5 gaming console will get a ₹5000 discount in India starting April — the best time to grab it

<ul class="summary-list"><li>A movie following 2021's GameStop stock frenzy, "Dumb Money," is in theaters now.</li><li>Financial analyst Keith Gill inspired a huge interest in the stock after pouring more than $50,000 into it.</li></ul>Sony Pictures' "Dumb Money" follows the man at the center of GameStop's stock surge in 2021. Former Mass Mutual financial analyst Keith Gill, played by Paul Dano, gained online followings for his YouTube persona, <a href="https://www.youtube.com/roaringkitty">Roaring K</a><a href="https://www.youtube.com/roaringkitty">itty</a>, and on Reddit under the username <a href="https://www.reddit.com/user/DeepFuckingValue">DeepFuckingValue</a> where he openly shared his personal stock strategies and spreadsheets, explaining why he believed GameStop was undervalued by hedge funds who bet the company wouldn't perform well in the future.Gill originally <a href="https://www.reddit.com/r/wallstreetbets/comments/dbkv9r/gme_yolo_monthend_update_sep_2019/">invested $53,000 of his life savings</a> into GameStop stock when it was <a href="https://www.wsj.com/articles/keith-gill-drove-the-gamestop-reddit-mania-he-talked-to-the-journal-11611931696">around $5 per share</a> in 2019, but as he gained a <a href="https://www.insider.com/wallstreetbets-reddit-history-gme-gamestop-stock-dow-futures-yolo-2021-1">following</a>, more everyday people — retail traders — began buying the stock, eventually resulting in a <a href="https://www.businessinsider.com/explainer-what-is-going-on-with-gamestop-stock-2021-1">rapid, exponential rise in the stock.</a>GameStop's stock price peaked in January 2021 at <a href="https://www.nytimes.com/2021/02/02/business/gamestop-investors-plunging-shares.html">$483 per share</a>, costing <a href="https://markets.businessinsider.com/news/stocks/hedge-funds-torched-wall-street-bets-gamestop-short-squeeze-reddit-2021-1-1030016596">some hedge funds billions</a> and <a href="https://www.forbes.com/sites/abrambrown/2021/02/12/the-new-gamestop-millionaires-meet-the-amateur-traders-who-won-investings-craziest-sweepstakes-ever/?sh=5272825c47f5">huge gains for retail traders</a>. Gill was seen by many as a David standing up to a Goliath.Though Gill received a subpoena to testify before Congress about his involvement in the GameStop stock frenzy, the ending of "Dumb Money" makes it look like everything turned out really well for Gill and his family. However, the reality of that is unclear.<h2>What actually happened to Keith Gill?</h2><div type="image" title="Keith Gill Reddit Wall Street Bets Deep Effing Value Washington.JPG" height="2186" width="3840" msid="103894009" hostid="261" sizebytes="145080"></div>The movie claims Mass Mutual gave Gill an ultimatum of resigning or getting fired from the company. He chooses to resign.Gill really resigned from his position in late January 2021. Reuters reports his <a href="https://www.reuters.com/business/retail-consumer/roaring-kitty-no-longer-has-financial-broker-license-filing-2021-03-02/">final day of employment was January 28, 2021</a>, the same day GameStop's stock price <a href="https://www.nytimes.com/2021/02/02/business/gamestop-investors-plunging-shares.html">reached its peak</a>.It was never reported whether or not he was given a choice between getting fired or resigning.In February of 2021, Gill and Mass Mutual were <a href="https://www.reuters.com/business/retail-consumer/roaring-kitty-massmutual-hit-with-lawsuit-ahead-gamestop-hearing-2021-02-17/" target="_blank" rel="noopener">sued in a lawsuit that alleged he caused "huge losses" for investors</a> and violated securities laws. Gill said he didn't break any laws, explaining his YouTube channel was "for educational purposes only" and that he didn't use social media to promote the stock. This lawsuit <a href="https://www.reuters.com/technology/year-gamestop-champion-roaring-kitty-is-quiet-yet-much-richer-2022-02-02/">was dismissed</a>.That same month, Gill was called to testify before Congress in a hearing titled, "<a href="https://www.youtube.com/watch?v=RfEuNHVPc_k">Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide</a>," in which he memorably explained his stance on GameStop simply as, "<a href="https://www.youtube.com/watch?v=ukXQGBpXaVM">I like the stock</a>," and, at another point, stating, "<a href="https://youtu.be/sXNRttPfeSI?si=fXbbRj5Ronj3bbtl&amp;t=25" target="_blank" rel="noopener">I am not a cat.</a>" He also testified that he didn't "solicit anyone to buy or sell" GameStop stock for his own profit. Part of this is adapted in the movie.In September 2021, Mass Mutual <a href="https://markets.businessinsider.com/news/stocks/roaring-kitty-gamestop-massmutual-fine-4-million-settlement-reddit-memes-2021-9">was fined $4.75 million</a> as part of a settlement for failing to supervise Gill's trading and online activity. A month later, the Securities and Exchange Commission decided <a href="https://www.sec.gov/files/staff-report-equity-options-market-struction-conditions-early-2021.pdf">no market manipulation occurred</a> with the trading of GameStop or any other meme stocks.<h2>Where is Gill now?</h2><div type="image" title="A still from Keith Gill aka Roaring Kitty's final YouTube video in April 2021." height="1400" width="2812" msid="103894011" hostid="261" sizebytes="83962"></div>The Massachusetts native is <a href="https://www.reuters.com/business/retail-consumer/roaring-kitty-no-longer-has-financial-broker-license-filing-2021-03-02/" target="_blank" rel="noopener">no longer a registered financial broker</a>. His final public YouTube post, titled "<a href="https://www.youtube.com/watch?v=qqOZ5mo7vOw">Cheers Everyone!,</a>" was shared in April 2021. Gill still retains over 500,000 subscribers.Reuters reported in 2022 that Gill had since <a href="https://www.reuters.com/technology/year-gamestop-champion-roaring-kitty-is-quiet-yet-much-richer-2022-02-02/">removed himself from the public eye</a>.Gill has a child with his wife, Caroline, who <a href="https://markets.businessinsider.com/news/stocks/roaring-kitty-full-congressional-hearing-full-opening-statement-2021-2-1030098139?_gl=1*18vj3e7*_ga*MTcyNzM0MDQzNi4xNjY0MjEyNjIx*_ga_E21CV80ZCZ*MTY5NTQwODA0NS4xMDgxLjEuMTY5NTQwODM3NC41LjAuMA..">he married in 2016</a>. In "Dumb Money," Caroline is played by Shailene Woodley.<h2>Did Keith Gill sell his GameStop stock and make money?</h2><div type="image" title="Keith Gill in his introductory post on YouTube in July 2020." height="1534" width="2676" msid="103894012" hostid="261" sizebytes="74022"></div>At the end of "Dumb Money," Gill considers selling his stock but he buys more instead. It's also implied that he may have sold some stock since his brother, Keith (Pete Davidson), is shown being gifted a brand-new sports car.The movie claims that, as of April 2021, Gill was worth $34 million. It's true that at this time, Gill <a href="https://www.cnbc.com/2021/04/16/roaring-kitty-stands-to-rake-in-millions-on-his-gamestop-options-bet-friday.html#:~:text=Keith%20Gill%20exercised%20his%20500,a%20strike%20price%20of%20%2412." target="_blank" rel="noopener">exercised GameStop call options that otherwise would have expired and bought additional shares</a>, bringing his total share count to 200,000.Gill uploaded <a href="https://www.reddit.com/r/wallstreetbets/comments/msblc3/gme_yolo_update_apr_16_2021_final_update/" target="_blank" rel="noopener">one final spreadsheet to Reddit</a> in April 2021 valuing his GameStop stock at $34,473,248.01. At its peak, Reuters valued Gill's GameStop <a href="https://www.reuters.com/article/us-retail-trading-roaringkitty/famed-gamestop-bull-roaring-kitty-is-a-massachusetts-financial-advisor-idUSKBN29Y0AF" target="_blank" rel="noopener">stock at $48 million</a>.Those who have followed the saga are <a href="https://www.reddit.com/r/MuseumOfReddit/comments/129fbxp/keith_gill_udeepfuckingvalue_and_the_gamestop_saga/" target="_blank" rel="noopener">split on whether Gill ever sold any of the stock</a> or if he's still holding onto most of it.Some believe he's lying low after selling some since his large following came from holding onto GameStop.

'Dumb Money' follows Keith Gill and the GameStop stock surge — here's where the financial analyst and YouTuber is now

<ul><li><keyword id="2847944" type="PERSON" weightage="60" keywordseo="CD-Projekt">CD Projekt</keyword> stock tumbled as much as 22% to a nine-month low on Friday.</li><li>The "<keyword id="4395289" type="PERSON" weightage="60" keywordseo="cyberpunk-2077">Cyberpunk 2077</keyword>" developer shed up to $1.8 billion in market capitalization after <keyword id="6358540" type="UNKNOWN" weightage="60" keywordseo="sony">Sony</keyword> said it would pull the buggy game from its <keyword id="1421063" type="ORGANIZATION" weightage="60" keywordseo="PlayStation-Store">PlayStation store</keyword> and provide refunds to players.</li><li>CD Projekt apologized on Monday for disappointing players and promised to fix the problems in the coming weeks.</li><li>"After three delays, we were too focused on releasing the game," co-CEO Adam Kicinski said during an analyst call this week. "It was the wrong approach and against our business philosophy."</li><li><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories</a>.</li></ul><a href="https://markets.businessinsider.com/stocks/cd_projekt_red-stock">CD Projekt</a> shares plunged as much as 22% to a nine-month low on Friday as the Polish game studio suffered fresh backlash to its release of a bug-ridden "Cyberpunk 2077" last week.Sony announced on Friday that it was pulling the video game from its PlayStation Store and offering full refunds to players following a wave of complaints about the long-awaited title. The news erased the equivalent of $1.8 billion from CD Projekt's market capitalization.CD Projekt <a href="https://www.businessinsider.com/cyberpunk-2077-refunds-ps4-xbox-one-bugs-cd-projekt-red-2020-12">apologized</a> for disappointing players on Monday, and pledged to fix the game through software updates over the coming months. It also offered refunds to those who bought the game for the PlayStation 4 and the Xbox One, as the experience is especially bad on those older consoles.Players have reported frequent crashes, poor graphics, choppy frame rates, and characters and objects repeatedly glitching.Read more: <a href="https://www.businessinsider.com/stock-picks-to-buy-for-2021-top-earnings-growth-jpmorgan-2020-12" target="_blank" rel="noopener">JPMorgan says stocks are primed for sustained gains in a way they haven't been in years - and identifies 43 names to buy for above-average earnings growth in 2021</a>"After three delays, we were too focused on releasing the game," co-CEO Adam Kicinski said during an analyst call on Monday. "We underestimated the scale and complexity of the issues. We ignored the signals about the need for additional time to refine the game on the base last-gen consoles. It was the wrong approach and against our business philosophy."Fortunately for the embattled developer, it can afford a few refunds. It turned a profit on the game before it even launched, thanks to pre-order sales of more than 8 million copies.

'Cyberpunk 2077' publisher's stock plummets 22% after Sony pulls the buggy game from its online store and offers refunds

<ul><li>The deal, announced in September last year, has received the <keyword id="139820" type="General" weightage="80" keywordseo="competition-commission" source="Orion">Competition Commission</keyword> of <keyword id="3658" type="General" weightage="80" keywordseo="india" source="Orion">India</keyword>'s nod. </li><li>The deal remains subject to applicable regulatory and other approvals, <keyword id="353090" type="General" weightage="80" keywordseo="zeel" source="Orion">ZEEL</keyword> said.</li><li>The combined entity will own over 70 TV channels, 2 video streaming services (ZEE5 and <keyword id="6358540" type="General" weightage="100" keywordseo="sony" source="Orion">Sony</keyword> LIV) and two film studios (<keyword id="3415325" type="General" weightage="50" keywordseo="zee-studios" source="Orion">Zee Studios</keyword> and Sony Pictures Films India). </li></ul> The Competition Commission on Tuesday gave its conditional approval to the mega-merger deal between Sony and <keyword id="6372205" type="General" weightage="80" keywordseo="zee" source="Orion">Zee</keyword> that will create one of the largest media groups in the country. The deal, announced in September last year, has received the Competition Commission of India's nod after the regulator accepted "voluntary remedies" proposed by the parties, sources close to the development said. In a tweet, the watchdog said it has cleared the deal with certain modifications. CCI said it has approved the "amalgamation of <keyword id="1417408" type="General" weightage="50" keywordseo="zee-entertainment-enterprises-limited" source="Orion">Zee Entertainment Enterprises Limited</keyword> (ZEEL) and Bangla Entertainment Private Limited (BEPL) with Culver Max Entertainment Private Limited (<keyword id="55015" type="General" weightage="80" keywordseo="cme" source="Orion">CME</keyword>), with certain modifications". Details about the proposed modifications could not be immediately ascertained. CCI had issued show cause notices to the parties after it initially concluded that the deal could have an adverse impact on competition, the sources said. Subsequently, the parties proposed voluntary remedies, which have been accepted by the regulator, they added. ZEEL said CCI has granted the approval in phase-1 after evaluating the official legal and economic submissions made by the company. Most of the deals get cleared by CCI in phase-1 and only if there are serious concerns then the deal concerned is put up for public scrutiny under phase 2. "Considering the immense value which the proposed merger will generate for all its stakeholders, the company has offered the necessary remedies in accordance with the regulator's guidelines," ZEEL said, adding that further details are awaited. On September 7, the National Company Law Tribunal (NCLT) had advised the company to convene and conduct the meeting with its shareholders on October 14 to seek their approval for the proposed merger. The deal remains subject to applicable regulatory and other approvals, ZEEL said. In a separate statement, Sony Pictures Networks India said it is delighted to receive CCI approval for the merger. "We will now await remaining regulatory approvals to finally launch the new merged company. The merged company will create extraordinary value for Indian consumers and eventually lead the consumer transition from traditional pay TV into the digital future," it said. Culver Max Entertainment Private Limited was earlier known as Sony Pictures Networks India Pvt Ltd. Deals beyond certain thresholds require the approval of CCI, which keeps a tab on unfair business practices and also promotes fair competition in the marketplace. Both parties had entered into a definitive agreement for the deal in December last year and the proposed merger has already received approval from stock exchanges NSE and BSE. ZEEL, in September 2021, said it has entered into a non-binding term sheet with SPNI to bring together their linear networks, digital assets, production operations and programme libraries. The combined entity will own over 70 TV channels, 2 video streaming services (ZEE5 and Sony LIV) and two film studios (Zee Studios and Sony Pictures Films India), making it the largest entertainment network in India, ZEEL said in September last year. Under the deal, there will be amalgamation of ZEE and BEPL with CME. Besides, preferential allotment of certain shares will be made by CME to Sunbright International Holdings Limited, earlier known as Essel Holdings Limited, and Sunbright Mauritius Investments Limited, according to a release issued by CCI. CME is an indirect wholly-owned subsidiary of Sony Group Corporation (SGC). CME has several general entertainment channels, film, sports and kids' entertainment channels in India. SonyLIV is CME's digital entertainment video service which provides OTT services in India and international markets. CME reaches out to over 700 million viewers in India and is available in 167 countries. BEPL is an indirect wholly-owned subsidiary of SGC and a part of the SGC Group. It is broadly engaged in the acquisition of rights for motion pictures, events and other TV cont ent; and in generating advertising revenue from the telecast of TV content. ZEE is a media and entertainment company, with presence across the segments of broadcasting, digital content, movies, music and live entertainment, spread over 190 countries, as per the release. ZEE5 is the company's digital entertainment video service which provides OTT services in India and international markets. SEE ALSO: <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/telecom/news/reliance-jio-to-begin-beta-trial-of-5g-in-four-cities-on-dussehra-with-unlimited-data/articleshow/94645577.cms">Reliance Jio to begin beta trial of 5G in four cities on Dussehra with unlimited data</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/business/news/with-950-billionaires-asia-outnumbers-all-other-regions-forbes/articleshow/94644883.cms">With 950 billionaires, Asia outnumbers all other regions: Forbes</a> <a target="_blank" class="c-link c-message_attachment__title_link" href="https://www.businessinsider.in/entertainment/15-ott-releases-to-watch-this-festive-season-starring-madhuri-dixit-hasan-minhaj-and-more/articleshow/94640843.cms">15 OTT releases to watch this festive season starring Madhuri Dixit, Hasan Minhaj and more</a>

Competition Commission gives conditional approval to Sony-Zee merger deal

<ul><li>According to the latest information, PlayStation 5 restocking will begin tomorrow.</li><li>We can expect PS5 to be on Flipkart, Amazon, Reliance Digital, and Croma.</li><li>According to ShopAtSC, PS5 Digital Edition is priced at ₹39,990.</li></ul>The <keyword id="4480494" type="General" weightage="20" keywordseo="sony-playstation-5" source="Orion">Sony PlayStation 5</keyword> will be up for pre-booking on May 13. The news comes from the company’s official website ShopAtSC. As per the banner, customers can pre-book Sony’s PS5 another with Gran Tourismo Bundle at a slightly higher price and PS5 Digital Edition on Friday, May 13 at 12 pm. You can buy the PlayStation 5 for ₹49,990, PS5 Digital Edition at ₹39,990, and PS5 Gran Turismo 7 Bundle for ₹54,490. Where to book? At the time of writing this, only the <a href="https://shopatsc.com/collections/playstation-5">ShopAtSC</a> website has the pre-booking banner with ‘notify me’ buttons under the products. There is no information about delivery or shipping dates and when the deliveries will be done. While this doesn’t confirm anything, it does give us a hint that Sony might soon restock the PS5. It also means you can expect it to be available on e-commerce websites like Flipkart, Amazon, Reliance Digital, Croma and Vijay sales and others. Additionally, you can keep a check on offline resellers and Sony stores for an update. How to buy a PS5? For this particular pre-booking, you can set the reminder by going to ShopAtSC and clicking on ‘notify me’. Once it’s done, you need too wait till tomorrow and be ready before 12 pm with your Sony account logged in to the website. You should be on the product page that you want to buy and you should see the pre-book button once the page is updated. PS5 restock is good news but getting hands on one of these still remains challenging as stock doesn’t last very long. Also, buyers should be aware of scams and fake websites posing as a retailer. ShopatSC is offering a standard PlayStation 5 with Gran Turismo 7 at ₹54,990. The same deal isn’t being offered with PlayStation 5 Digital Edition which is priced at ₹39,990. The standard edition will cost you ₹49,990. Remember, the only difference between digital edition and standard edition is that latter does not offer an optical disc drive, meaning you can only run games that are downloaded onto PS5 internal storage. Just like always, Sony’s PlayStation 5 is in high demand and we can assume restocked inventory won’t last long once pre-booking starts. SEE ALSO: <a href="https://www.businessinsider.in/tech/mobile/google-pixel-5a-vs-google-pixel-6a-smartphones-check-out-difference-in-both-mobiles/slidelist/91516969.cms">Google Pixel 5A vs Google Pixel 6A— what are the key differences?</a> <a href="https://www.businessinsider.in/tech/news/google-teased-ar-glasses-that-hint-at-breaking-language-barriers/articleshow/91514326.cms">Google teases much awaited AR glasses that hint at breaking language barriers</a>

You Searched For "sony stock" and got 13 results

Stock splits can be rocket fuel for a company's shares. Here's who could be next.

Matthew Fox

Sony's growing exposure to anime content makes it a top stock to buy, according to Goldman Sachs

Matthew Fox

Magnificent 7 stocks aren't setting the market up for another tech bubble

Dan DeFrancesco

Zee Entertainment, Zomato, Medplus Health and other hot stocks on December 23

Rounak Jain

Sony jumps after announcing deal to acquire Bungie for $3.6 billion as video game M&A heats up

Isabelle Lee

Have foreign assets or income? Not disclosing it may lead to heavy penalties

Anagh Pal

US stocks rise to close volatile January as Nasdaq rallies over 3% ahead of mega-cap tech earnings

Isabelle Lee

AMC is offering 86,000 NFTs to retail investors and movie theater rewards members who preorder Spider-Man tickets

Natasha Dailey

Sony PlayStation 5 gaming console will get a ₹5000 discount in India starting April — the best time to grab it

Dhruv Mohan

'Dumb Money' follows Keith Gill and the GameStop stock surge — here's where the financial analyst and YouTuber is now

Kirsten Acuna

'Cyberpunk 2077' publisher's stock plummets 22% after Sony pulls the buggy game from its online store and offers refunds

Theron Mohamed

Competition Commission gives conditional approval to Sony-Zee merger deal

PTI

Sony PS5 will be up for pre-booking in India on May 13: Where, how to buy

Rahul Verma

Popular Keywords

Buying Guides