Tag: Investment News

  • Drake Lifts ‘Curse’ With $30M Stake Jackpot and $1M Canada World Cup Win

    Drake Lifts ‘Curse’ With $30M Stake Jackpot and $1M Canada World Cup Win

    Key Takeaways

    • Drake won a record $30 million Stake jackpot.
    • The rapper also collected a seven-figure payout from the World Cup after Canada beat South Africa.
    • The wins come after years of volatile betting results.

    Canadian rapper Drake has enjoyed one of the strongest runs of his high-profile gambling career after landing a record-breaking slot jackpot worth more than $30 million days after collecting a seven-figure payout from a successful World Cup bet.

    The wins mark a rare reversal for the famed rapper, whose public betting record has swung between multi-million-dollar gains and losses in recent years — helping to fuel the long-running “Drake Curse” meme among sports fans.

    Disclaimer: This article is for informational and entertainment purposes only. It does not offer financial or betting advice.

    Drake Lands Record $30 Million Stake Jackpot

    Drake won more than $30 million playing the “OMG Counter” slot on crypto gambling platform Stake, marking the largest publicly disclosed payout of his partnership with the company.

    Stake said the prize totaled $30,042,235, representing Drake’s first maximum jackpot since becoming the platform’s global ambassador in 2022.

    The win came on a slot game developed by Easygo, Stake’s parent company, and ranks among the largest gambling payouts publicly associated with the rapper.

    In response to the video on his Instagram showing him reacting to the win, Stake CEO Edward Craven wrote: “Not even pissed.”

    Social media users have responded to the win, with one stating:

    “Stake bout to try not to pay Drake for the rest of the year.. they gonna rig all his bets to lose for the next year and a half.”

    Another wrote: “Drake has successfully switched career from music to a successful gambler.”

    Stake has expanded rapidly in recent years but has also faced increased regulatory scrutiny.

    The company withdrew from the UK market in 2025 after regulators imposed a £316,250 fine over anti-money laundering and social responsibility failings.

    Its marketing practices, including the use of influencers and streamers, have also attracted attention from regulators in several jurisdictions.

    Canada World Cup Bet Delivers Seven-Figure Payout

    The slot jackpot follows another successful wager for Drake after Canada defeated South Africa 1-0 in the FIFA World Cup, allowing him to cash a sports bet worth just over $1 million.

    Before kickoff, Drake revealed he had staked $770,000 through Stake on Canada progressing, with the bet offering a total payout of approximately $1.001 million.

    Following Canada’s victory, the wager generated a profit of roughly $231,000.

    Drake bags Canada world cup bet win. | Source: X (@Stake)

    Sharing the bet on Instagram before the match, Drake joked that he had increased the size of the wager after receiving messages from South African DJ Black Coffee.

    Canada’s win secured its place in the Round of 16 as the country continues its home World Cup campaign alongside co-hosts the United States and Mexico.

    Betting Record Has Swung Between Big Wins and Heavy Losses

    Drake has regularly shared major sports bets through Stake, backing events across the NFL, UFC, boxing, football, and the NBA.

    His public betting record has been highly volatile.

    After suffering several costly defeats in late 2022, including a $1.595 million wager on Israel Adesanya at UFC 281, his tracked results fell to an overall loss of roughly $3.84 million.

    The following year marked a dramatic turnaround.

    Winning bets on a variety of sports events helped erase those losses and lifted his publicly tracked betting record to a peak profit of around $4.58 million by mid-2023.

    More recently, however, his results have deteriorated again.

    High-profile losing wagers across boxing, UFC, and NFL have pushed his publicly tracked sports betting record back into negative territory before his latest winning streak.

    Bloomberg Businessweek also reported earlier this year that Drake had won unusually frequently on Stake slot games produced by Easygo.

    The publication cited internal data reviewed during an investigation into the platform and its relationship with the rapper.

    ‘Drake Curse’ Continues to Follow His Bets

    The fluctuations in Drake’s gambling record have helped sustain the long-running “Drake Curse”, an internet meme suggesting athletes and teams publicly backed by the rapper often go on to lose.

    The theory has become a recurring talking point across major sporting events, with fans frequently highlighting Drake’s wagers before championship games and title fights.

    Drake has frequently acknowledged the reputation.

    On Saturday, Drake posted his $1 million bet on Morocco to qualify against Canada, claiming he was trying the “reverse curse strategy.”

    Drake tries the “reverse curse” strategy. | Source: Instagram @champagnepapi

    In a bittersweet turn, Morocco beat Canada 3-0, giving Drake a payout of $1.4 million — but ultimately seeing his team kicked out of the competition.

    In 2025, Drake jokingly stated that sports betting “isn’t my gift” and suggested there would likely be “plenty more content” for believers in the curse as he continued placing wagers.

    His recent Canada victory and record slot jackpot, however, may have temporarily shifted the narrative.

    The information provided in this article is for informational purposes only. It is not intended to be, nor should it be construed as, financial advice. We do not make any warranties regarding the completeness, reliability, or accuracy of this information. All investments involve risk, and past performance does not guarantee future results. We recommend consulting a financial advisor before making any investment decisions.

    Kurt Robson

    Kurt Robson is a London-based reporter at CCN, specialising in the fast-moving worlds of crypto and emerging technology. He began his career covering local news in Cornwall after graduating from Falmouth University with First Class Honours in Journalism. There, he cut his teeth on everything from council meetings to missing swans.

    He quickly rose through the ranks to become a frontline journalist at several of the UK’s leading national newspapers. Over the years, he has interviewed musicians and celebrities, reported from courtrooms and crime scenes, and secured multiple front-page exclusives.

    Following the upheaval of the COVID-19 pandemic, Kurt shifted his focus to technology journalism—just ahead of the AI boom. With a natural curiosity and a trained eye for emerging trends, he has found a new rhythm in reporting on innovation.

    At CCN, Kurt’s work focuses on the cutting edge of crypto, blockchain, AI, and the evolving digital world. Drawing on his background in people-first reporting and his deep interest in disruptive tech, Kurt delivers stories that are insightful, entertaining, and human-centric.



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  • Lionsgate Studios director Mark Rachesky reports large share transfers By Investing.com

    Lionsgate Studios director Mark Rachesky reports large share transfers By Investing.com

    NEW YORK – Mark H. Rachesky, a Director and Ten Percent Owner of Lionsgate Studios Corp. (NASDAQ: LION), reported significant transactions involving the company’s common shares on July 8, 2026, according to a recent SEC Form 4 filing. These transactions were part of a complex continuation fund transaction and did not involve cash sales or purchases. The restructuring comes as Lionsgate shares trade at $13.47, giving the entertainment company a market capitalization of $3.92 billion. The stock has delivered impressive returns of 92% over the past year, though InvestingPro analysis suggests the shares are currently trading above their Fair Value.

    In a series of dispositions on July 8, Dr. Rachesky indirectly transferred a total of 42,500,497 common shares. These transactions, which were part of the continuation fund transaction, were reported with a price of $0.0 per share and a total dollar value of $0.0. The dispositions included:

    1,469,450 common shares that were contributed from MHR Institutional Partners II to Sun II and LION Holdco A.

    3,701,988 common shares that were contributed from MHR Institutional Partners IIA to Sun IIA and LION Holdco B.

    25,173,882 common shares that were contributed from MHR Institutional Partners III to Sun III and LION Holdco B.

    499,765 common shares that were contributed from LION Holdco A to LION SubHoldco A.

    11,755,412 common shares that were contributed from LION Holdco B to LION SubHoldco B.Despite the strong stock performance, Lionsgate faces financial challenges with a negative earnings per share of $0.64 over the last twelve months and total debt of $4.19 billion against revenue of $2.63 billion. InvestingPro assigns the company a “FAIR” financial health score and identifies it among overvalued stocks in the market. Investors can access detailed analysis through the comprehensive Pro Research Report, available for LION and 1,400+ other US equities, which transforms complex Wall Street data into clear, actionable intelligence.

    Concurrently, Dr. Rachesky indirectly acquired a total of 42,600,497 common shares through various contributions and exchanges related to the same continuation fund transaction. These acquisitions were also reported with a price of $0.0 per share and a total dollar value of $0.0. The acquisitions included:

    797,526 common shares acquired for the account of MHR Sun II LP.

    1,916,271 common shares acquired for the account of MHR Sun IIA LP.

    11,154,680 common shares acquired for the account of MHR Sun III LP.

    671,924 common shares acquired for the account of MHR LION Holdco A LP.

    499,765 common shares acquired for the account of MHR LION SubHoldco A LP.

    15,804,919 common shares acquired for the account of MHR LION Holdco B LP.

    11,755,412 common shares acquired for the account of MHR LION SubHoldco B LP.

    The filing indicates that these share movements were part of a “continuation fund transaction” (referred to as the “CV Transaction” in the filing footnotes), where shares were contributed to various entities in exchange for limited partnership interests or other interests. This explains why no cash price per share or total dollar value is reported for these specific share movements.

    Following these transactions, Dr. Rachesky’s direct holdings include 262,212 common shares and 20,107 restricted share units, which are scheduled to vest in November 2026. His indirect beneficial ownership of Lionsgate Studios common shares is distributed across several entities, including MHR Capital Partners Master Account LP, MHR Capital Partners (100) LP, MHR Institutional Partners IV LP, MHR LION Holdco A LP, MHR LION Holdco B LP, MHR LION SubHoldco A LP, and MHR LION SubHoldco B LP, among others. Dr. Rachesky, through affiliated entities, disclaims beneficial ownership of these common shares except to the extent of his pecuniary interest therein.

    In other recent news, trading activity in Lionsgate Studios options has seen a significant increase, with a total of 21,646 contracts traded. Of these, call options accounted for 18,828 contracts, while put options totaled 2,818 contracts. The most notable single position was the July 17, 2026, $18 call, which had 6,409 contracts against an open interest of 5 contracts. These developments indicate heightened interest in Lionsgate Studios from investors. While the trading data does not include specific earnings or revenue results, the substantial options activity suggests that market participants are actively positioning themselves in anticipation of future events. Analyst opinions or ratings were not mentioned in the recent updates. Investors should continue to monitor for any forthcoming earnings announcements or analyst reports for more detailed insights.

    This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.



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  • There’s an IPO Gold Rush—and Texas Is Coming for New York

    There’s an IPO Gold Rush—and Texas Is Coming for New York

    In the fall of 2022, the governor of Texas went to dinner in Houston with a half-dozen friends. Before the plates were cleared, Greg Abbott told his buddies around the table that there was something else he wanted to order—and it wasn’t on the menu. 

    He’d like the Lone Star state to have its own stock exchange. Sitting across from the governor, James Lee was just the man to build it.

    Even for a state that takes pride in making everything outsized, the idea was a big one. When Nasdaq launched in the 1970s it took the exchange two decades to become competitive with the New York Stock Exchange.

    This week, traders from Goldman Sachs and Citadel Securities, traded mock symbols in practice runs on the Texas Stock Exchange. On Friday, at 9:30 a.m., a handful of small stock symbols began trading and TXSE—“tex-ee” as they say—was up and running for real.

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  • WisdomTree launches Space Economy ETF to tap into launch and orbital boom

    WisdomTree launches Space Economy ETF to tap into launch and orbital boom

    “The cost revolution in launch has already happened,” said Christopher Gannatti of WisdomTree.

    ETF provider WisdomTree has launched a fund that it is touting as a way for advisors and investors to harness growth in the space industry.

    The WisdomTree Space Economy Fund (Ticker: WSPC) is listed on the Nasdaq and has an expense ratio of 0.75%. The Fund provides exposure to launch and orbital vehicles, deep space infrastructure, satellite broadband, Earth observation, defense space systems, and emerging technologies, according to the ETF provider.

    The fund’s top holding is SpaceX Corp. (Ticker: SPCX), which recently enjoyed the the biggest IPO of all time, followed by launch and space infrastructure companies Rocket Lab Corp. (Ticker: RKLB) and Firefly Aerospace Inc. (Ticker: FLY).

    “Space has been evolving from a government-monopolized domain to a multi-layer commercial economy for some time, but we believe that transition has now reached a point where the enabling conditions are clearly in place,” said Christopher Gannatti, global head of research at WisdomTree, in a statement. “The cost revolution in launch has already happened.”

    A number of ETF issuers have sought to tap the massive interest in the SpaceX mega-IPO with the launch of new single-stock funds themed around the rocket maker. Last month, Themes ETFs also launched two leveraged ETFs tied to the performance of SpaceX’s stock. In May, asset manager VanEck unveiled the VanEck Space ETF (Ticker: WARP), which tracks the MarketVector Space Index (MVWARP).

    It is not just SpaceX IPO that has grabbed attention – the success of NASA’s Artemis II mission earlier this year has also thrust the space industry into the spotlight, spelling opportunities for advisors and their clients.

    Clearly, the space industry spells opportunity. McKinsey projects that the so-called space economy will be worth $1.8 trillion by 2035, up from $630 billion in 2023. This includes both “backbone” applications such as those for satellites, launchers, and services such as broadcast TV and GPS, according to McKinsey, as well as “reach applications.” To illustrate the latter, in a 2024 report, McKinsey used the example of Uber, whose business relies on a combination of satellite signals and chips inside smartphones to connect drivers and rider and guide them to their destination.

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