Tag : Business

Tag: Business

Bitcoin Plummets as Doubts Grow Over Sky-High Valuation

LONDON/SINGAPORE—Bitcoin plummeted as much as 17 percent on Tuesday as investors grew nervous at sky-high valuations, triggering the liquidation of leveraged bets and sparking a sell-off across cryptocurrency markets. The world's biggest cryptocurren...

Florida Congressman Urges NY Stock Exchange to Move to His State

Rep. Byron Donalds (R-Fla.) is urging the New York Stock Exchange (NYSE) to relocate to Florida, where he says there's no danger that the company will be hit with a tax on stock trades. “We have a lot of nice land here in Southwest Florida. We can fi...

Bitcoin Vaults Above $50,000 for First Time Ever

LONDON—Bitcoin rose above $50,000 on Tuesday to a new record high, building on a rally fuelled by signs that the world's biggest cryptocurrency is gaining acceptance amongst mainstream investors. Bitcoin hit a new high of $50,602 and was last up 5 pe...

Chinese Money Pours Into Hong Kong as It Becomes Stock Gambling Paradise

On the eve of President Joe Biden's inauguration, the Hong Kong stock market soared as Chinese money poured in. On Jan. 19, the daily trading volume of Hong Kong stocks exceeded 300 billion Hong Kong dollars ($38.7 billion). On Jan. 21, the Hang Seng...

NYSE Chief Warns of Potential New York Exit If Stock Trades Are Taxed

The New York Stock Exchange may leave New York if state lawmakers approve a proposal to tax stock trades, the president of the exchange said on Feb. 9. "The New York Stock Exchange belongs in New York," Stacey Cunningham wrote in an op-ed in the Wall...

Global Firms Raise $546 Billion in January as SPAC Frenzy Continues

Companies raised $546 billion from new bond and share issues in January, as a flood of central bank money-printing and recovering stock markets brought record numbers of new listings, special-purpose acquisition company (SPAC) deals, and share sales,...

Robinhood Lifts Trading Caps on GameStop and Other Stocks

Online brokerage app Robinhood said on Thursday it has removed temporary trading restrictions on all stocks, including GameStop and AMC, according to an update on its website. "There are currently no temporary limits to increasing your positions," th...

Yellen Convenes Meeting to Probe GameStop Volatility and Ensure ‘Markets Are Functioning Properly’

Treasury Secretary Janet Yellen said she will hold a meeting Thursday with top financial market regulators to discuss recent trading volatility that saw shares like GameStop soar, fueled by online communities seeking to build buying momentum and prof...

Small GameStop Investors Aren’t Giving Up as Price Slips Below $100

While the price of video game retailer GameStop has slumped this week, many of the small investors who have rushed the stock are still holding, and some are buying more. The company’s efforts to reinvent its struggling business model remain laden wit...

GM Hit by Chip Shortage, to Cut Production at Four Plants

DETROIT—General Motors Co became the latest automaker hit by the global shortage of semiconductor chips as the U.S. automaker said on Feb. 3 it will take down production next week at four assembly plants. GM said it will cut production entirely durin...

GameStop Trading Frenzy a ‘Perfect Storm’ and a Warning for Canada

GameStop and a handful of other stocks have experienced roller-coaster rides that have gripped financial markets over the last week.

Yellen Calls Meeting With Financial Regulators Over GameStop Trading Frenzy

Treasury Secretary Janet Yellen is set to meet with financial regulators to discuss market volatility, including frenzied trading of GameStop stock. Yellen will meet with officials from the Securities and Exchange Commission, the Federal Reserve, the...

Rocket Startup Astra to Go Public Through $2.1 Billion Blank-Check Deal

Astra, a startup that makes small rockets to send satellites into orbit, is going public at a valuation of $2.1 billion through a deal with blank-check company Holicity Inc, the companies said on Tuesday. The deal with Holicity is expected to provide...

Robinhood CEO Tells Elon Musk There Was No ‘Shadiness’ in Halting GameStop Trading

Robinhood CEO Vlad Tenev defended the app's decision to halt trading of GameStop stocks during last week's trading turmoil, telling Tesla CEO Elon Musk during a webcast on Monday there was no "shadiness" involved and pushing back against what he refe...

GameStop Stock Drops Then Increases After Robinhood Lifts Restrictions

Update (11:30 a.m. ET): After dropping earlier, GameStop and other heavily shorted stocks are rising after trading app Robinhood lifted some trading restrictions. Reports say clients can now purchase up to 100 shares of GameStop and raised limits on...