Didi Global denies media report it plans to go private after $4.4 bln New York IPO

2021-07-30 09:30:23

Ride-hailing company Didi Global on Thursday denied a media report that the company was considering going private to placate Chinese authorities and compensate investor losses since it listed in the United States.

The Wall Street Journal, citing people familiar with the matter, reported that the Chinese company has been mulling delisting plans as a crackdown in China widens and it has received support from cybersecurity regulators.

Didi, which listed in New York last month after raising $4.4 billion

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Fake Tesla, Apple stocks have started trading on blockchains

2021-07-06 18:25:08

By Michael P. Regan

For years, the powers that be on Wall Street have toyed with questions about whether it would be feasible to move the stock market onto a blockchain, the underlying technology behind cryptocurrencies.

The innovators in the fast-moving world of decentralized finance — or DeFi — aren’t waiting around to see how those discussions unfold. Instead, they’ve built synthetic versions of equities that track some of the world’s biggest companies. In essence, the anti-establishment ethos

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Cathie Wood’s ARK Invest teams up on a Bitcoin ETF

2021-06-29 22:15:34

Star stock picker Cathie Wood‘s ARK Invest is teaming up with 21Shares US LLC, which filed with the U.S. Securities and Exchange Commission on Monday to create a bitcoin exchange traded fund (ETF), the latest fund manager attempting to cash in on investors’ growing interest in cryptocurrencies.

Wood, whose ARK Innovation ETF was the top-performing U.S. equity fund last year, has been a vocal proponent of bitcoin, and Wood’s firm will provide marketing for the proposed ETF,

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Cathie Wood’s ARK Invest files to offer a Bitcoin ETF

2021-06-29 09:12:38

Star stock picker Cathie Wood‘s ARK Invest filed with the U.S. Securities and Exchange Commission on Monday to create a bitcoin exchange traded fund (ETF), the latest fund manager attempting to cash in on investors’ growing interest in cryptocurrencies.

Wood, whose ARK Innovation ETF was the top-performing U.S. equity fund last year, has been a vocal proponent of bitcoin.

Her flagship ARK Innovation fund owns around $820 million worth of shares in cryptocurrency exchange Coinbase Global, making

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Robinhood CEO calls for changes to exchange pricing rules

2021-06-24 23:52:49

NEW YORK: U.S. securities rules should be changed to allow stock exchanges to quote bids and offers in price increments of less than a penny so they can better compete with wholesale brokerages for retail orders, Robinhood Chief Executive Officer Vlad Tenev said on Thursday.

Retail trading volumes have soared over the past year-and-a-half, fueled by the move to commission-free trading by most large online brokerages in November 2019 – a model Robinhood helped pioneer – and by

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‘Meme’ stock prices may not properly reflect demand: NYSE president

2021-06-17 13:12:53

NEW YORK: The prices of so-called meme stocks may be distorted because the majority of trades in those names are executed away from public exchanges where share price formation occurs, the head of the New York Stock Exchange said on Wednesday.

“Meme stocks,” which often start as low-priced, highly shorted stocks that users of online forums such as Reddit’s WallStreetBets rally behind, are some of the most heavily traded and volatile shares on any given day.

Shares of

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US regulator delays decision on Bitcoin ETF, seeks views on potential for manipulation

2021-06-17 09:43:38

WASHINGTON: U.S. regulators on Wednesday again delayed a decision on whether to approve an application for what would be the country’s first bitcoin exchange traded fund (ETF), filing a request for public consultation over concerns about market manipulation.

The move by the U.S. Securities and Exchange Commission (SEC) on Wednesday was the second delay for the VanEck Bitcoin Trust’s proposed bitcoin ETF after an extended delay in April.

Analysts say the regulator is worried it is

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GameStop tumbles, other meme stocks falter after big runups

2021-06-10 22:19:07

Shares of GameStop Corp fell more than 17% on Thursday and other so-called meme stocks also declined, setting the stage for another roller-coaster session for stocks favored by retail investors on social media platforms.

GameStop shares recently traded at around $249, after the video game retailer on Wednesday reported stronger-than-expected earnings, named the former head of Amazon.com Inc’s Australian business as its chief executive officer and said it may sell new shares. Wedbush Securities on Thursday raised its

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GameStop tumbles, Clover Health rises in meme stock roller coaster

2021-06-10 16:58:17

Shares of GameStop Corp fell 7% and Clover Health Investments Corp jumped 6.4% in early deals on Thursday, setting the stage for another roller coaster session for stocks favored by small-time investors on social media platforms.

Videogame retailer GameStop on Wednesday named the head of Amazon.com Inc’s Australian business as its chief executive officer and said it may sell new shares after it reported quarterly results that were stronger than analysts expected.

GameStop’s shares were trading at around

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Invesco plans crypto-linked ETFs in bid to bypass SEC aversion

2021-06-10 06:54:55

Invesco is planning to launch a pair of cryptocurrency-focused exchange-traded funds, even as regulators have repeatedly delayed the approval of a U.S. Bitcoin ETF.

About 85% of the Invesco Galaxy Blockchain Economy ETF and the Invesco Galaxy Crypto Economy ETF will be in crypto-linked equities, according to a filing with the U.S. Securities and Exchange Commission. The rest of the portfolio will be in other trusts and funds that hold cryptocurrencies.

The SEC has delayed making a

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The crypto-space needs more regulation to grow: Galaxy Digital

2021-06-09 22:29:22

NEW YORK: More regulation of the cryptocurrency space is needed to help institutional investors become more comfortable with digital assets and have the burgeoning asset class really take off, Mike Novogratz, founder of crypto investment firm Galaxy Digital said on Wednesday.

“We need some regulation,” he said at a conference held by Piper Sandler. “That’s an unpopular opinion in crypto circles, but if you want to have institutions join the revolution, you need some regulation.”

Bitcoin, the largest

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Clover Health shares surge as ‘meme stock’ rally expands

2021-06-09 08:39:42

Shares of Clover Health Investments Corp jumped as much as 109% on Tuesday as it became a new focus for small individual traders on social media platforms who have prompted rallies in heavily shorted U.S. stocks this year.

Traders had exchanged more than $14 billion worth of Medicare-backed insurance seller Clover Health shares by the close, eclipsing the company’s overall stock market value of about $9 billion.

Clover Health shares, which closed up 85.8% at $22.15 after earlier

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SEC approves Nasdaq proposal to allow IPO alternative to raise funds

The U.S. Securities and Exchange Commission (SEC) has approved a proposal by exchange operator Nasdaq Inc to allow companies to raise capital through direct listings.

In a filing dated May 19, the SEC said Nasdaq’s proposed rule change was consistent with the regulator’s rules and regulations and could be beneficial to investors as an alternative to a traditional initial public offering.

The move is a big breakthrough for the exchange operator that has been pushing for an alternative

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SPACs raise record $100 billion in IPOs so far this year

Special purpose acquisition companies (SPACS) have raked in a record $100 billion through initial public offerings so far in 2021, data from Refinitiv showed, in what has been Wall Street’s biggest gold rush in recent years.

About 341 global SPAC IPOs have been brought to the market since the start of this year, with U.S.-listed SPACs dominating the marketplace, according to the data.

“Amid all the uncertainty caused by the pandemic, SPACs became a good option to access

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