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GameStop frenzy leads to unrealistic expectations for returns
CNBC’s Jim Cramer on Thursday questioned “are prices real” on Wall Street anymore, as he exasperatingly tried to explain GameStop‘s rally of as much as 175% over the past two days. “I think the average…
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Robinhood is still on track for a hot IPO despite the GameStop uproar
Omar Marques | LightRocket | Getty Images Robinhood’s user growth, brand recognition and valuation appear to be stronger than ever as the online brokerage recovers from the GameStop trading chaos. Demand for Robinhood shares in…
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What to know about Astra, the rocket builder going public via a SPAC
Rocket 3.1 launches from Kodiak, Alaska. Astra / John Kraus Rocket builder Astra is preparing to go public in the second quarter, taking on a crowded field of competitors while aiming for daily deliveries to…
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GameStop stock soars more than 100% in late-afternoon trading
A GameStop store is pictured in New York, January 29, 2021. Carlo AllegriI | Reuters Shares of GameStop surged more than 100% on Wednesday as investors poured into the brick-and-mortar retailer amid a C-suite shake-up.…
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Wall Street clearing firm proposes 1-day trade settlement after Robinhood controversy
Pavlo Gonchar | LightRocket | Getty Images The firm that provides clearing and settlement services for brokers proposed shortening the time it takes to settle a trade, amid the GameStop controversy that caused brokerages like…
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MicroStrategy buys more than $1 billion worth of bitcoin, adding to massive holdings
MicroStrategy announced Wednesday it bought just over $1 billion worth of additional bitcoin, just days after finalizing another sale of convertible debt. The Virginia-based enterprise software company said it paid an average price of $52,765…
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Hedge funds that hunkered down after GameStop are now missing out on market gains
Pavlo Gonchar | LightRocket | Getty Images Hedge funds are still licking their wounds after a retail trading frenzy forced the industry to slash its overall exposure to stocks, leading to an underperformance in 2021.…
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Yellen sounds warning about ‘extremely inefficient’ bitcoin
Treasury Secretary Janet Yellen leveled criticism against bitcoin, which has seen a sharp slide in price this week. Leah Millis | Reuters Treasury Secretary Janet Yellen issued a warning Monday about the dangers that bitcoin…
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Cathie Wood’s funds take big morning hit before rebounding as the tech trade stumbles
Cathy Wood Crystal Mercedes | CNBC Some called it the “Cathie Wood sell-off.” At the open Tuesday, the top names owned by Ark Investment Management were the biggest decliners in the market. Shares of Palantir,…
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Workhorse Group drops nearly 50% after EV company is passed over for USPS contract
Workhorse W-15 Electric Pickup Truck. Source: Workhorse Shares of Workhorse Group dropped more than 50% at one point on Tuesday after the company was passed over for a key contract from the U.S. Postal Service.…
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