Dick’s Sporting Goods just posted an epic quarter—but these 3 factors may limit the stock’s upside

The stock’s up 200% since March. Online sales in the most recent quarter were up 194%. A hot cloud computing company? No, we’re actually talking about that strip-mall staple for soccer cleats and golf clubs: Dick’s Sporting Goods.

The sports retailer, like many of its peers, was hit hard by the pandemic amid shutdowns and store closures, and even announced it would suspend its dividend when things were looking especially bleak in March.

But now, Dick’s stock has not only clawed its way back for its trough at around $16 per share in March, but has soared to just under $54 as of the market close on Wednesday, nearing its all-time high of $62 in 2016.

“I don’t think people would have seen it as a pandemic winner,” Morningstar’s David Swartz tells Fortune.

On Wednesday, Dick’s reported 2nd quarter earnings up 148% from the quarter a year prior. … Read More

A new report from Mexico says banks are used to launder money more than crypto By Cointelegraph

A new report from Mexico says banks are used to launder money more than crypto

Mexico’s Financial Intelligence Unit recently published the results of its second National Risk Assessment. The report highlighted that the risk of money laundering in the banking sector far surpasses the issues encountered by fintech companies.

According to El Economista, the so-called “G7 banking” group – BBVA (MC:), Santander (MC:), Citibanamex, Banorte, HSBC, Scotiabank, and Inbursa – registers significantly more money laundering in Mexico than Blockchain firms. Brokerage companies, exchange firms, and banking institutional providers are also included in the “high risk” classification given by the report.

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