“No other brokerage as far as we know needed a billion-dollar bailout,” said one securities expert.
Category Archives: business
Ford, Samsung warn of impact from semiconductor chip shortage
A recent report estimated that Detroit automakers alone could lose as much as $61 billion in revenue this year if the chip shortage continues.
Dow tumbles 700 points amid GameStop mania, on pace for worst day since October
There are fears that the GameStop frenzy is a sign of a larger bubble in the market.
Biden's plan to halt evictions does not address 'structural problems,' housing advocates say
“It will be many months for assistance to make its way across the country to households who are behind on rent.”
SEC vows to protect 'retail investors,' amid GameStop frenzy
“We will act to protect retail investors when the facts demonstrate abusive or manipulative trading activity that is prohibited by the federal securities laws,” the SEC said in a release.
Robinhood raises $1 billion and taps credit lines to make trading of GameStop available to customers
Robinhood CEO Vlad Tenev told CNBC that tapping the credit lines was a proactive measure and denied it was because of a liquidity issue.
GM to go all-electric by 2035, phase out gas and diesel engines
GM launched its first long-range electric car, the Chevy Bolt, in 2016.
Online brokers restrict GameStop trading to protect users, but instead prompt fury
Furious Robinhood users said that they were unable to transfer funds to their bank account or to other trading platforms.
'Tax the rich': Progressive lawmakers react to GameStop frenzy with push for more oversight
Rep. Alexandria Ocasio-Cortez said that “it’s really something to see Wall Streeters” who treat “our economy as a casino” complain.
From theater director to cheese expert: Displaced workers in some industries switch careers to stay afloat
“We’ve learned just how precarious so many jobs were.”