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“#GameStop booster ‘Roaring Kitty’ testifies before regulators” Keith Gill, the social media persona known as “Roaring Kitty,” whose online posts helped spark January’s trading frenzy in GameStop shares, appeared before Massachusetts securities regulators on Wednesday to testify as part of an examination into his activities. Massachusetts Secretary of the Commonwealth William Galvin, the state’s top…
“#How a 10-second video clip sold for $6.6 million” LONDON – In October 2020, Miami-based art collector Pablo Rodriguez-Fraile spent almost $67,000 on a 10-second video artwork that he could have watched for free online. Last week, he sold it for $6.6 million. The video by digital artist Beeple, whose real name is Mike Winkelmann,…
“#Why rising rates are unsettling Wall Street” Yes, it’s possible to have too much of a good thing, and that’s exactly why stock markets around the world are getting so unsettled. Optimism for an economic revival is surging following a year of coronavirus-induced misery. But expectations for stronger growth — plus the higher inflation that…
“#Bots hyped GameStop on major social media platforms: analysis” Bots on major social media platforms have been hyping up GameStop and other “meme” stocks, according to an analysis by Massachusetts-based cybersecurity company PiiQ Media, suggesting organized economic or foreign actors may have played a role in the Reddit-driven trading frenzy. Shares in GameStop soared last…
“#Charlie Munger calls out investor gambling mentality, bitcoin” Charlie Munger, the longtime business partner of Warren Buffett, on Wednesday suggested the stock market environment bears signs of a bubble, reflecting a “dangerous” mentality among some investors to gamble on stocks as they would horse races. Munger, 97, was speaking at the annual meeting of Daily…
“#Painful as it was, patience paid off for investors” Good things came to fund investors who waited in 2020. But, what a terrifying wait it was. Mutual funds and exchange traded funds of all stripes delivered strong annual returns, even better than usual. Consider the largest fund by assets, a core holding of many 401(k)…
“#Bitcoin soars past $20,000 mark to new all-time high” The price of Bitcoin surged past the $20,000 mark to a new record on Wednesday, continuing a dizzying rally for the cryptocurrency. Bitcoin surged as much as 7.2 percent to an all-time high of $20,890.11 — about two weeks after posting its last record peak on…
“#Biden campaign pulls ad with ‘struggling’ bar owner outed as investor” Joe Biden’s campaign has scrapped a political ad featuring a Michigan music venue owner who depicted himself as a cash-strapped business owner — yet was revealed as a wealthy tech investor. The ad was removed from Biden’s campaign YouTube channel after reports outing the…
“#Ferragamo family explores stake sale in turnaround strategy: report” The family owners of Italian fashion house Salvatore Ferragamo have held informal talks with investors to sell a minority stake in their holding firm as they scramble to turn around the brand famous for shoes worn by Hollywood stars such as Audrey Hepburn, five sources told…
“#Robinhood says some customer accounts may have become target of hackers” Fintech startup Robinhood said Friday some customers might have become a target of hackers because of their personal email accounts being compromised outside of its platform. The issue did not occur from a breach in the firm’s systems, a spokesperson for the company said…