Tag: markets
-
Robinhood prices IPO at $38 per share, valuing the online brokerage app at $32 billion
SOPA Images/Getty Images Robinhood priced its IPO at $38 per share on Wednesday, valuing the company at about $32 billion.The online brokerage app revealed surging growth in its S-1 filing amid the COVID-19 pandemic and government stimulus checks.Robinhood is set to trade on the Nasdaq under the symbol "HOOD" on Thursday.Sign up here for our…
-
US stock futures slip ahead of Tesla earnings in the wake of Asia’s rout, while bitcoin surges past $38,000
Spencer Platt/Getty Images After US stocks logged all-time highs last week, futures point to a retreat on Monday. Asian stocks plunged as China tightened rules on its education and property sectors. Bitcoin rose above $38,000, partly driven by speculation that Amazon may accept it as payment. Sign up here for our daily newsletter, 10 Things…
-
Cathie Wood’s ARK bought more shares in Grayscale’s trust after bitcoin’s fall below $30,000
Cathie Wood Cindy Ord/ Getty Images Cathie Wood's fund bought another 140,157 shares in the Grayscale Bitcoin Trust. Grayscale is the world's largest bitcoin investor and its trust offers exposure to the price. The purchase came ahead of the "B Word" conference Wood is hosting later on Wednesday. Sign up here for our daily newsletter,…
-
Warren Buffett won’t be following Jeff Bezos and Richard Branson into space – he ruled out a rocket trip 25 years ago
Warren Buffett. CNBC Warren Buffett won't be following Jeff Bezos or Richard Branson into space. The investor once said he admired space explorers but had no desire to board a rocket himself. Buffett joked he would charge less to insure Elon Musk's Mars mission if Musk was on board. See more stories on Insider's business…
-
The UK economy grew just 0.8% in May as manufacturing troubles caused the rebound to lose steam
UK car production plunged in May, official data showed. Owen Humphreys – PA Images/Getty Images The UK economy grew 0.8% in May compared with April, much slower than economists had expected. Car production was hit hard by a global microchip shortage, official figures showed on Friday. Economies are contending with bottlenecks as demand surges with…
-
Jim Cramer says he’s investing in ethereum because it is more like a currency, a week after revealing he sold nearly all his bitcoin
Jim Cramer Noam Galai/Getty Images CNBC host Jim Cramer said he is investing in ethereum. His comments on CNBC on Monday came days after he said he sold nearly all of his bitcoin holdings. "I like ethereum because people actually use it much more to be able to buy things," he said. Sign up here…
-
Britain bans cryptocurrency exchange Binance from operating in the UK without ‘written consent’
Binance CEO, Changpeng Zhao. REUTERS/Darrin Zammit Lupi Britain's financial regulator has ordered Binance to stop all regulated activity in the UK. The watchdog also issued a warning to potential crypto investors, telling them to be "wary" of promises of big returns. Binance's CEO has previously said the company is "very regulated." See more stories on…
-
ContextLogic jumps 22% as Redditors highlight it as a meme-stock play for the week
Mateusz Slodkowski/SOPA Images/LightRocket/Getty Images Mateusz Slodkowski/SOPA Images/LightRocket/Getty Images ContextLogic, the e-commerce company that conducts the Wish platform, rallied 22 percent Monday. The company was the top-hyped stock on Reddit investing threads such as Wall Street Bets. "Wish is that the play week," said one Redditor. See more information on Insider's business page. Shares of ContextLogic…