Here's Why Bitcoin Is Tumbling Once Again

The price of bitcoin and most other major cryptocurrencies dropped sharply on Friday after financial regulators in Japan ordered several crypto exchanges to improve their anti-money laundering practices, adding to long-standing fears that government crackdowns could hurt the market.

In response to the mandate from Japan’s Financial Services Agency, bitFlyer—the largest cryptocurrency exchange in the country—suspended the creation of new accounts while it improves its practices.

“Our management and all employees are united in our understanding of how serious these issues are, as well as how serious we are in responding to them going forward,” bitFlyer said in a statement.

Japanese regulators gave the same order to five other exchanges after reportedly noticing weaknesses in how they combatted money laundering.

To some, the move might seem like a minor setback that should be expected as users and governments continue to adapt to new technologies. But Friday’s selling stems from a few legitimate concerns about what Japan’s regulatory move could mean in the near- and long-term future.

For starters, bitFlyer’s response interrupts the flow of new capital to one of the largest cryptocurrency exchanges in the world. The Japanese yen accounts for a majority of bitcoin’s daily volume, so it is obvious that any interruption in this market will cause headwinds.

Moreover, the regulatory order speaks to a greater concern for crypto enthusiasts—one which threatens the potential long-term impact of digital currencies. Widespread government crackdowns and new laws could very well diminish the overarching point of cryptocurrencies, which—for many users—is to circumvent traditional financial sector barriers.

Japan has led the way in terms of regulation so far, although other countries have joined in the effort recently. Just a few weeks back, The Wall Street Journal reported that U.S. regulators are investigating potential price manipulation at four major exchanges occurring after CME Group (CME ) launched bitcoin futures.

According to CoinMarketCap.com, bitcoin prices have dropped more than 7.7% over the past 24 hours. In that time, Ethereum—the world’s second largest cryptocurrency by way of market cap—has slumped about 9.9%, Ripple has tumbled 6.5%, and Bitcoin Cash has lost more than 11.8%. Litecoin, a popular coin among traders and retail investors, has also dropped about 11.5%.

Overall, only two of the top 100 cryptocurrencies have remained in the green in the past day, based on CoinMarketCap’s data. The total capitalization of the global crypto market has shed nearly 9.5%.

Shares of crypto-proxy stocks like Riot Blockchain (RIOT ) and the Bitcoin Investment Trust (GBTC ) were also sharply lower on Friday morning.

Want more market analysis from this author? Make sure to follow @Ryan_McQueeney on Twitter!

Looking for Stocks with Skyrocketing Upside?

Zacks has just released a Special Report on the booming investment opportunities of legal marijuana.

Ignited by new referendums and legislation, this industry is expected to blast from an already robust $6.7 billion to $20.2 billion in 2021. Early investors stand to make a killing, but you have to be ready to act and know just where to look.

See the pot trades we're targeting>>

Fort Washington Investment Advisors Inc. OH Has $271.25 Million Holdings in Amazon.com (AMZN)

Fort Washington Investment Advisors Inc. OH reduced its holdings in Amazon.com (NASDAQ:AMZN) by 2.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 187,411 shares of the e-commerce giant’s stock after selling 3,868 shares during the period. Amazon.com comprises 2.8% of Fort Washington Investment Advisors Inc. OH’s holdings, making the stock its 4th largest position. Fort Washington Investment Advisors Inc. OH’s holdings in Amazon.com were worth $271,247,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of AMZN. Broadleaf Partners LLC acquired a new stake in shares of Amazon.com in the fourth quarter worth approximately $6,772,000. Bank of Montreal Can boosted its stake in shares of Amazon.com by 9.6% in the fourth quarter. Bank of Montreal Can now owns 558,105 shares of the e-commerce giant’s stock worth $652,687,000 after acquiring an additional 48,847 shares during the last quarter. Kistler Tiffany Companies LLC boosted its stake in shares of Amazon.com by 15.2% in the fourth quarter. Kistler Tiffany Companies LLC now owns 486 shares of the e-commerce giant’s stock worth $568,000 after acquiring an additional 64 shares during the last quarter. Suntrust Banks Inc. boosted its stake in shares of Amazon.com by 14.9% in the fourth quarter. Suntrust Banks Inc. now owns 67,992 shares of the e-commerce giant’s stock worth $79,513,000 after acquiring an additional 8,806 shares during the last quarter. Finally, CAPROCK Group Inc. boosted its stake in shares of Amazon.com by 29.3% in the fourth quarter. CAPROCK Group Inc. now owns 4,347 shares of the e-commerce giant’s stock worth $5,674,000 after acquiring an additional 986 shares during the last quarter. 56.62% of the stock is currently owned by institutional investors.

Get Amazon.com alerts:

In related news, SVP Jeffrey M. Blackburn sold 2,054 shares of the business’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $1,574.11, for a total transaction of $3,233,221.94. Following the completion of the transaction, the senior vice president now directly owns 44,541 shares of the company’s stock, valued at approximately $70,112,433.51. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Brian T. Olsavsky sold 2,028 shares of the business’s stock in a transaction on Tuesday, May 15th. The stock was sold at an average price of $1,587.50, for a total value of $3,219,450.00. Following the transaction, the chief financial officer now directly owns 1,781 shares of the company’s stock, valued at $2,827,337.50. The disclosure for this sale can be found here. Insiders have sold a total of 10,993 shares of company stock valued at $17,357,939 over the last three months. 16.30% of the stock is currently owned by insiders.

A number of analysts have recently issued reports on the company. BidaskClub raised Amazon.com from a “buy” rating to a “strong-buy” rating in a research note on Saturday. DA Davidson reaffirmed a “buy” rating and issued a $2,100.00 price target on shares of Amazon.com in a research note on Thursday, June 14th. Morningstar reaffirmed a “neutral” rating on shares of Amazon.com in a research note on Wednesday, June 13th. Macquarie reaffirmed a “buy” rating on shares of Amazon.com in a research note on Monday, June 11th. Finally, Morgan Stanley set a $1,700.00 price target on Amazon.com and gave the stock a “buy” rating in a research note on Saturday, June 9th. Two equities research analysts have rated the stock with a hold rating, fifty-one have issued a buy rating and two have issued a strong buy rating to the stock. The company has a consensus rating of “Buy” and an average target price of $1,715.55.

Amazon.com opened at $1,723.79 on Tuesday, according to MarketBeat. Amazon.com has a 12 month low of $931.75 and a 12 month high of $1,726.74. The firm has a market cap of $832.63 billion, a P/E ratio of 378.85, a P/E/G ratio of 4.46 and a beta of 1.59. The company has a quick ratio of 0.77, a current ratio of 1.06 and a debt-to-equity ratio of 0.78.

Amazon.com (NASDAQ:AMZN) last released its earnings results on Thursday, April 26th. The e-commerce giant reported $3.27 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of $1.80 by $1.47. Amazon.com had a return on equity of 11.77% and a net margin of 2.04%. The firm had revenue of $51.04 billion during the quarter, compared to analysts’ expectations of $49.94 billion. During the same period in the previous year, the firm posted $1.48 EPS. Amazon.com’s revenue for the quarter was up 42.9% on a year-over-year basis. research analysts forecast that Amazon.com will post 12.73 EPS for the current fiscal year.

Amazon.com Company Profile

Amazon.com, Inc engages in the retail sale of consumer products and subscriptions in North America and internationally. The company operates through three segments: North America, International, and Amazon Web Services (AWS) segments. It sells merchandise and content purchased for resale from vendors, as well as those offered by third-party sellers through physical stores and retail Websites, such as amazon.com, amazon.ca, amazon.com.mx, amazon.com.au, amazon.com.br, amazon.cn, amazon.fr, amazon.de, amazon.in, amazon.it, amazon.co.jp, amazon.nl, amazon.es, and amazon.co.uk.

Rent-A-Center shares surge 22% in single day on buyout

Shares of Rent-A-Center soared more than 20 percent on Monday after the rent-to-own retailer announced it is being acquired by Vintage Capital Management.

Vintage Capital will pay $15 per share in cash for the company, which went public back in 1995. Including debt, the deal is valued at around $1.37 billion. The acquisition is expected to close by the end of the year, both companies said in a release.

The stock jumped 22 percent to $14.73 cents on Monday.

The announcement "reflects the significant progress we have made to materially improve our performance and would not have been possible without the hard work and focus of our talented co-workers over the last several months," said Rent-A-Center CEO Mitch Fadel.

"Vintage is a natural partner for Rent-A-Center given its deep knowledge of the rent-to-own industry, and we look forward to partnering with them to realize the full benefits of the transaction," Fadel said.

Engaged Capital, the largest Rent-A-Center shareholder, had also been pressuring the company to sell itself recently.

The stock had already posted solid gains for the year prior to Monday's pop. Through Friday's close, Rent-A-Center had gained more than 8 percent for 2018.

Top 5 Value Stocks To Buy Right Now

tags:BRC,BDX,CLF,DOOR,XIN,

Were you tempted in 2017 by cryptocurrencies promising huge financial gains? If you did make a Bitcoin purchase, you may have done very well. The value of Bitcoin gained more than 1,200% over the year.

Your gains pose a vexing question. How are you supposed to pay taxes on your Bitcoin earnings? In large part, that depends on what you do with them.

The IRS gave limited direction in a 2014 guideline that classified cryptocurrencies as property, subjecting them to capital gains taxes instead of lumping them into ordinary income. Unfortunately, in practice there is no solid dividing line on their use. The tax rules become correspondingly complex.

There's a reason it's called a cryptocurrency. A significant number of businesses and retailers accept Bitcoin for payment. You can't normally use property in retail purchases – imagine paying for your foot-long meatball sub with a share of Apple stock. What would you receive in change?

Property, Currency, or Both?

Do you consider cryptocurrencies a form of long-term investment like stocks, a true currency, or something in-between? The further you get away from the stock analogy, the messier your taxes will be.

Top 5 Value Stocks To Buy Right Now: Brady Corporation(BRC)

Advisors' Opinion:

• [By Stephan Byrd]

  Get a free copy of the Zacks research report on Brady (BRC)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

• [By Lisa Levin] Companies Reporting Before The Bell Best Buy Co., Inc. (NYSE: BBY) is projected to report quarterly earnings at $0.74 per share on revenue of $8.73 billion. McKesson Corporation (NYSE: MCK) is expected to report quarterly earnings at $3.56 per share on revenue of $51.25 billion. Medtronic plc (NYSE: MDT) is estimated to report quarterly earnings at $1.39 per share on revenue of $8.00 billion. Hormel Foods Corporation (NYSE: HRL) is projected to report quarterly earnings at $0.45 per share on revenue of $2.39 billion. Brady Corporation (NYSE: BRC) is expected to report quarterly earnings at $0.49 per share on revenue of $291.47 million. Sanderson Farms, Inc. (NASDAQ: SAFM) is projected to report quarterly earnings at $2.2 per share on revenue of $841.75 million. The Toronto-Dominion Bank (NYSE: TD) is estimated to report quarterly earnings at $1.16 per share on revenue of $6.86 billion. Royal Bank of Canada (NYSE: RY) is expected to report quarterly earnings at $1.61 per share on revenue of $8.05 billion. 58.com Inc. (NYSE: WUBA) is projected to report quarterly earnings at $0.21 per share on revenue of $372.49 million. Luxoft Holding, Inc. (NYSE: LXFT) is estimated to report quarterly earnings at $0.59 per share on revenue of $228.53 million. The Toro Company (NYSE: TTC) is expected to report quarterly earnings at $1.21 per share on revenue of $916.73 million. StealthGas Inc. (NASDAQ: GASS) is projected to report quarterly earnings at $0.06 per share on revenue of $37.75 million. Stage Stores, Inc. (NYSE: SSI) is estimated to report earnings for its first quarter. Thermon Group Holdings, Inc. (NYSE: THR) is projected to report quarterly earnings at $0.2 per share on revenue of $96.24 million. Tuniu Corporation (NASDAQ: TOUR) is estimated to report quarterly loss at $0.03 per share on revenue of $76.72 million.

   

• [By Max Byerly]

  Brady (NYSE: BRC) and PlayAGS (NYSE:AGS) are both industrial products companies, but which is the better business? We will contrast the two companies based on the strength of their institutional ownership, dividends, profitability, earnings, analyst recommendations, risk and valuation.

Top 5 Value Stocks To Buy Right Now: Becton, Dickinson and Company(BDX)

Advisors' Opinion:

• [By Brian Orelli]

  Becton, Dickinson (NYSE:BDX) reported wacky results for its second fiscal quarter.�This is the first quarter that the medical supply company has included results from its�acquisition�of�C.R. Bard. But looking at the two companies on a comparable basis, it was a solid quarter for the newly combined company.

• [By Keith Speights]

  Dividend Yield

  Abbott Laboratories (NYSE:ABT) Drugs $109 billion 19.37 1.88% AstraZeneca (NYSE: AZN) Drugs $93 billion 19.70 3.97% Becton Dickinson and Co. (NYSE: BDX) Medical supplies $60 billion 17.74 1.29% DexCom (NASDAQ: DXCM) Medical devices $8 billion N/A N/A Eli Lilly and Co. (NYSE: LLY) Drugs $85 billion 14.91 2.77% Insulet (NASDAQ: PODD) Medical devices $5 billion 273.03 N/A Johnson & Johnson (NYSE: JNJ) Drugs, medical devices $325 billion 14.16 2.57% Lexicon Pharmaceuticals (NASDAQ:LXRX) Drugs $1 billion N/A N/A MannKind (NASDAQ: MNKD) Drugs $270 million N/A N/A Medtronic (NYSE: MDT) Medical devices $117 billion 15.36 2.14% Merck & Co. (NYSE: MRK) Drugs $159 billion 12.99 3.22% Novo Nordisk (NYSE:NVO) Drugs $116 billion 18.29 2.61% Pfizer (NYSE: PFE) Drugs $209 billion 11.62 3.82% Regeneron Pharmaceuticals (NASDAQ: REGN) Drugs $32 billion 13.95 N/A Sanofi (NYSE: SNY) Drugs $95 billion 10.75 4.64% Senseonics Holdings (NYSEMKT: SENS) Medical devices $447 million N/A N/A Tandem Diabetes Care (NASDAQ: TNDM) Medical devices $711 million N/A N/A

  Data source: Yahoo! Finance. P/E = price-to-earnings ratio; N/A = not applicable. Data as of May 25, 2018.

• [By Logan Wallace]

  Evergreen Capital Management LLC grew its holdings in shares of Becton Dickinson (NYSE:BDX) by 12.8% in the first quarter, according to its most recent filing with the SEC. The firm owned 15,558 shares of the medical instruments supplier’s stock after acquiring an additional 1,768 shares during the quarter. Evergreen Capital Management LLC’s holdings in Becton Dickinson were worth $3,371,000 as of its most recent SEC filing.

Top 5 Value Stocks To Buy Right Now: Cliffs Natural Resources Inc.(CLF)

Advisors' Opinion:

• [By WWW.GURUFOCUS.COM]

  For the details of Gallagher Fiduciary Advisors, LLC's stock buys and sells, go to http://www.gurufocus.com/StockBuy.php?GuruName=Gallagher+Fiduciary+Advisors%2C+LLC

  These are the top 5 holdings of Gallagher Fiduciary Advisors, LLCFifth Third Bancorp (FITB) - 7,424,558 shares, 43.91% of the total portfolio. New PositionUnited States Steel Corp (X) - 3,763,643 shares, 25.82% of the total portfolio. Franklin Resources Inc (BEN) - 1,825,092 shares, 15.42% of the total portfolio. Shares reduced by 2.44%Cleveland-Cliffs Inc (CLF) - 1,780,977 shares, 2.5% of the total portfolio. Shares reduced by 1.33%Finisar Corp (FNSR) - 349,639 shares, 1.39% of t
• [By Lisa Levin] Gainers AGM Group Holdings Inc. (NASDAQ: AGMH) shares climbed 30.3 percent to $11.05 after climbing 34.60 percent on Thursday. Limelight Networks, Inc. (NASDAQ: LLNW) jumped 21.2 percent to $4.9699 following a first-quarter earnings beat. The company also raised its fiscal 2018 estimates. Telefonaktiebolaget LM Ericsson (NASDAQ: ERIC) shares climbed 18.8 percent to $7.89 after reporting strong Q1 earnings. Farmers Capital Bank Corp (NASDAQ: FFKT) gained 15.4 percent to $48.75. WesBanco Inc (NASDAQ: WSBC) announced an agreement and plan of merger with Farmers Capital Bank Corporation. TransUnion (NYSE: TRU) climbed 10.2 percent to $66.76 after the company posted upbeat Q1 results and issued a strong forecast for the second quarter. TransUnion announced plans to acquire Callcredit. Myomo, Inc. (NYSE: MYO) shares gained 9.2 percent to $3.9299 after rising 8.11 percent on Thursday. Pinnacle Foods Inc (NYSE: PF) gained 8.8 percent to $60.04 after a 13-D filing from Jana Partners showed an increased stake in the comapny, from 1.42 million shares at the end of last quarter to 10.83 million shares, or a 9.3-percent stake. Associated Banc-Corp (NYSE: ASB) shares climbed 8.8 percent to $26.70 following upbeat Q1 earnings. OFG Bancorp (NYSE: OFG) gained 8.5 percent to $12.80 after reporting Q1 results. Cleveland-Cliffs Inc. (NYSE: CLF) climbed 7.5 percent to $7.73 following Q1 results. Seaspan Corporation (NYSE: SSW) shares climbed 6.7 percent to $7.50. Deutsche Bank upgraded Seaspan from Hold to Buy. General Electric Company (NYSE: GE) shares rose 4.6 percent to $14.63 after the company reported better-than-expected earnings for its first quarter. Ionis Pharmaceuticals, Inc. (NASDAQ: IONS) rose 4.3 percent to $47.80. Biogen and Ionis have expanded their strategic collaboration to develop drug candidates for a broad range of neurological diseases.

  Check out these big penny stock gainers and losers

• [By Tyler Crowe, Reuben Gregg Brewer, and Travis Hoium]

  For people looking to build wealth, penny stocks simply aren't worth it. You're better off pursuing well-run businesses and letting the power of their earnings grow your position over the long haul. So we asked three of our Motley Fool investors to choose stocks they like right now that would be good alternatives. Here's why they picked Cleveland-Cliffs (NYSE:CLF), Apple (NASDAQ:AAPL), and Franco-Nevada Corporation (NYSE:FNV).��

Top 5 Value Stocks To Buy Right Now: Masonite International Corporation(DOOR)

Advisors' Opinion:

• [By Max Byerly]

  Masonite International (NYSE:DOOR) – Wedbush dropped their Q2 2018 earnings per share (EPS) estimates for shares of Masonite International in a note issued to investors on Monday, May 7th. Wedbush analyst J. Mccanless now expects that the company will post earnings per share of $1.02 for the quarter, down from their prior forecast of $1.04. Wedbush currently has a “Neutral” rating and a $70.00 target price on the stock. Wedbush also issued estimates for Masonite International’s Q3 2018 earnings at $1.16 EPS, Q4 2018 earnings at $1.03 EPS, FY2018 earnings at $3.93 EPS, Q1 2019 earnings at $0.92 EPS, Q2 2019 earnings at $1.24 EPS, Q3 2019 earnings at $1.39 EPS, Q4 2019 earnings at $1.25 EPS and FY2019 earnings at $4.80 EPS.

• [By Matt Hogan]

  Masonite International Corp (NYSE: DOOR) supplies exterior and interior doors primarily to the North American residential market. There are in a great position to profit from both new construction and the repair, renovation, and remodel ("RRR") trends of a hot real estate market.

• [By Ethan Ryder]

  Get a free copy of the Zacks research report on Masonite International (DOOR)

  For more information about research offerings from Zacks Investment Research, visit Zacks.com

Top 5 Value Stocks To Buy Right Now: Xinyuan Real Estate Co Ltd(XIN)

Advisors' Opinion:

• [By Shane Hupp]

  Xinyuan Real Estate Co., Ltd. (NYSE:XIN) declared a quarterly dividend on Wednesday, May 30th, RTT News reports. Stockholders of record on Monday, June 11th will be given a dividend of 0.05 per share by the financial services provider on Friday, June 22nd. This represents a $0.20 annualized dividend and a dividend yield of 3.74%.