Registered Coward v2 writes: Wall Street has decided if you can’t beat them, at least watch them. They’re paying for data that shows which stocks are most talked about on Reddit stock forums, ostensibly to allow them to adjust their positions or take advantage of opportunities to trade based on Reddit. Nothing could go wrong there, since Reddit would decide to…
Tag: retail
Amazon’s Anti-Union Blitz Stalks Alabama Warehouse Workers Everywhere, Even the Bathroom
Some workers in Amazon’s Bessemer, Ala., warehouse complain that the company’s aggressive performance expectations leave them little time to take bathroom breaks. From a report: When they do get there, they face messaging from Amazon pressing its case against unionization, imploring them to vote against it when mail-in balloting begins Feb. 8. “Where will your dues go?” reads a flier posted…
Elon Musk Grills Robinhood CEO Over GameStop Trading Freeze: ‘The People Demand Answers’
Elon Musk had just wrapped up a wide-ranging 90-minute interview on the audio chat app Clubhouse early on Monday, when he threw the hosts a curveball. “Do you want to hear the real story from Vlad [from] Robinhood about what happened on the Street with GameStop?” Musk asked. He advised the moderators to click on Robinhood CEO Vladimir Tenev so he…
How Reddit’s Co-Founder, Jim Cramer, and Wall Street Reacted to GameStop’s Surge
Friday afternoon CNBC reported that “heightened speculative trading by retail investors” (later referred to as “GameStop mania”) had “continued to unnerve the market.”
The Dow Jones Industrial average lost 620.74 points, or 2%, to 29,982.62, the first time the 30-stock gauge has closed below the 30,000 mark since Dec. 14…. The market also experienced the highest trading volume in years as the…
Amazon Can Make Just About Anything — Except a Good Video Game
An anonymous reader quotes a report from Bloomberg, which is “based on interviews with more than 30 current and former Amazon employees, most of whom spoke under the condition of anonymity citing fears of litigation or career repercussions.” From the report: Mike Frazzini had never made a video game when he helped start Amazon Game Studios. Eight years later, he has…
AOC, Ted Cruz Slam Robinhood for Freezing Some Trades Amid GameStop Volatility
With Reddit’s interest in sending some stocks soaring showing no sign of slowing down, the trading app Robinhood started restricting some transactions Thursday morning. Reddit wasn’t happy — and neither are some lawmakers. From a report:The incident apparently struck an unusual bipartisan chord, with Texas Republican Ted Cruz throwing his weight behind progressive Democrats who called out the company. Rep. Rashida…
GameStop, AMC Trading Now Being Restricted at TD Ameritrade, Schwab
Some major brokerage houses have begun to respond to a frenetic surge in the price of shares of companies that has been attributed to rabid buying by individual investors on social-media platforms. From a report: On Wednesday, TD Ameritrade said it was restricting trading for GameStop and AMC Entertainment Holdings, as well as other names, amid a triple-digit percentage surge in…
After 28 Years, Tucows Finally Closes Its Downloads Site
“We have made the difficult decision to retire the Tucows Downloads site,” writes CEO Elliot Noss in a blog post at Tucows.com/retired: We’re pleased to say that much of the software and other assets that made up the Tucows Downloads library have been transferred to our friends at the Internet Archive for posterity. The shareware downloads bulletin board system (BBS) that…
Walmart’s E-Commerce Chief Is Leaving To Build ‘a City of the Future’
An anonymous reader quotes a report from Recode: Marc Lore, a serial entrepreneur who sold his startup Jet.com to Walmart for $3 billion and then oversaw the transformation of the retail giant’s e-commerce business over the last four years, is leaving his full-time role with the company at the end of the month, he told Recode. His next big entrepreneurial swing…
GDPR: German Laptop Retailer Fined $12.6M For Video-Monitoring Employees
The data regulator for the German state of Lower Saxony has fined a local laptop retailer a whopping $12.6 million for keeping its employees under constant video surveillance at all times for the past two years without a legal basis. From a report: The penalty represents one of the largest fines imposed under the 2018 General Data Protection Regulation (GDPR) not…