Closing Market Report 3/15/2018

The KUIK Closing Market Report for Thursday, March 15:

Markets were mixed.

Index

Direction

Change

Units

Index

Time

Change

Dow

Up

                   116

 points

        24,874

S&P500

Down

-0.1%

percent

          2,747

Nasdaq Composite

Up

0.2%

percent

          7,482

30 Year Treasury

Unchanged

                     –  

Basis Points

           3.06

Annual Yield

The Securities and Exchange Commission announcd today that startup blood test company Theranos committed a “massive” financial fraud, “raising more than $700 million from investors through an elaborate, years-long fraud in which they exaggerated or made false statements about the company’s technology, business, and financial performance.” Neither the company nor founder 34 year old Elizabeth Holmes admitted guilt. Holmes dropped out of Stanford to start the company after her sophomore year. Holmes  agreed to pay a $500,000 penalty, be barred from serving as an officer or director of a public company for 10 years, and return her 18.9 million shares and give up control of Theranos.

Serving the West Side first, I am Bill Roller of brcapitalinc.com for 1360 KUIK.

www.marketwatch.com/story/the-sec-called-theranos-fraud-massive-but-it-didnt-get-the-company-or-founder-to-admit-guilt-2018-03-15

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