Robinhood was sued Monday for wrongful death by the family of Alex Kearns, a 20-year-old customer who took his life last summer after believing he had racked up big losses on the millennial-favored stock trading app. CNBC reports: “This case centers on Robinhood’s aggressive tactics and strategy to lure inexperienced and unsophisticated investors, including Alex, to take big risks with the…
Tag: investors
Twitter Considers Subscription Fee for Tweetdeck, Unique Content
Twitter is building a subscription product as a way to ease its dependence on advertising — a plan the social network has considered for years, and one that has taken on a heightened priority given the pandemic and pressure from activist investors to accelerate growth. From a report: The majority of Twitter’s revenue comes from targeted advertising, which serves up promoted…
To the Moon? Dogecoin Leaps 46% in 24 Hours After Tweets From Elon Musk, Snoop Dogg
Friday the 71-year-old former lead singer of the band Kiss tweeted “I bought Dogecoin…six figures,” to his 922,000 followers, along with other supportive tweets. Saturday rap artist Snoop Dogg tweeted an image of “Snoop Doge” to his 19.2 million followers. Later Elon Musk tweeted a picture from the Lion King with Musk’s head appearing on a monkey holding up a monkey…
Was GameStop’s Rise Actually Orchestrated By Hedge Funds?
Robert J. Shapiro advised senior members of the Obama administration on economic policy, and served as an Under Secretary of Commerce under Bill Clinton. Now a senior fellow at the McDonough School of Business at Georgetown, he’s suspicious of the surge in GameStop’s stock price:
Allegedly, this is the tale of scrappy, small online day traders buying shares of a beleaguered company…
Robinhood Stops Limiting GameStop Shares
Robinhood has lifted all the buying curbs imposed at the height of the battle between amateur investors and Wall Street hedge funds. The change comes one week after the online broker limited clients to only buying a single share of GameStop and expanded its list of restricted stocks from 13 to 50. Reuters reports: The videogame retailer, the initial trigger for…
Remote Tasmanian Island To Be Powered By ‘Blowhole’ Energy That Harnesses Waves
An anonymous reader quotes a report from The Guardian: Technology that harnesses wave energy through a “blowhole” is being tested at a remote Tasmanian island in a project backed by federal grants and investors. When the mostly above-water unit is connected in about a month, King Island in Bass Strait will be powered by three renewables — wave, wind and solar….
Sony Says It Sold 4.5 Million PlayStation 5 Consoles Last Year and Took a Loss on Sales
Sony shipped more than 4.5 million PlayStation 5s from the console’s Nov. 12 launch to the end of the year, but it took a loss on those sales because the PS5’s “strategic price point” is lower than what it cost to manufacture it. From a report: The disclosure was part of Sony’s quarterly report to investors, delivered in Japan earlier today….
Exxon Mobil To Invest $3 Billion In Carbon Capture and Other Projects To Lower Emissions
An anonymous reader quotes a report from The New York Times: Exxon Mobil, which has long been criticized by environmentalists and some investors and elected leaders for not doing enough to curb climate change, said on Monday it would invest $3 billion over the next five years in energy projects that lower emissions. The company said the first area it would…
Facebook Testing Notification To Users About Apple Privacy Changes
Facebook is testing a notification that notifies Apple iOS users about ways the tech giant uses their data to target personalized ads to them. Axios reports: The test is happening in light of upcoming changes to Apple’s privacy settings that will make it harder for Facebook and others to collect data on Apple users for ad targeting. Facebook warned investors last…
Xiaomi Sues US Seeking To Reverse Investment Ban
AmiMoJo shares a report: Xiaomi has sued the U.S. Defense and Treasury departments, challenging a blacklisting that blocks American investors from buying the Chinese smartphone giant’s securities. The lawsuit came after the Defense Department determined earlier this month that China’s biggest smartphone maker was affiliated with the People’s Liberation Army. Beijing-based Xiaomi called the blacklisting “unconstitutional” and seeks a court ruling…