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“#WeWork reportedly cuts deal to go public with SPAC” WeWork has reportedly agreed to a merger with a newly formed company — and is back on track to go public. The office-sharing giant, which had spectacularly failed nearly two years ago and botched a previous effort to go public, agreed to merge with BowX Acquisition…
“#Dow closes above 33,000 for 1st time after Fed’s upbeat projections” The S&P 500 and Dow Jones Industrial Average closed at record highs on Wednesday after the Fed predicted a fast economic recovery from the coronavirus pandemic and said it would maintain its interest rate at close to zero. It was the first time the…
“#GameStop stock surges for 5th day with other ‘meme stocks’” GameStop shares soared their highest level in more than a month Tuesday as the video-game retailer’s pivot to e-commerce added more fuel to Reddit’s favorite “meme stock.” Shares in the Texas-based company surged 26 percent to a peak of $246.35 on their fifth consecutive day…
“#Stocks surge, tech lags after Senate clears stimulus bill” The Dow Jones industrial average crossed the 32,000 mark for the first time to hit a record high after the Senate cleared a stimulus bill to boost the economy’s recovery from the coronavirus crisis. The blue-chip index climbed more than 2 percent, or 651.74 points, on…
“#Tech rebound pulls stocks out of a slump and to weekly gain” Wall Street ended sharply higher after a volatile session Friday, with the Nasdaq rebounding at the end of a week that saw it extend losses to about 10 percent from its previous record high. All three main indexes bounced back from losses earlier…
“#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…
“#Dow adds 600 points as bond jitters ease, vaccinations rise” March is coming in like a lion on Wall Street. The Dow surged more than 600 points on Monday and the S&P 500 had its best day since June as last week’s jitters over the bond market cooled and investors grew increasingly optimistic about fiscal…
“#‘Share-plunge’ GameStop traders serve valuable function” It feels wrong to hope that a company goes out of business and its stock craters to zero, which is why short sellers — the traders who make money when stocks tank — are treated with disdain in many corners of Wall Street and now increasingly in Washington. But…
“#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…
“#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…