Tag: stock market
Spotify to spend $1B buying its own stock
Music streaming service Spotify today said it will spend up to $1 billion between now and April 21, 2026 to repurchase its own shares. The dollar amount represents just under 2.5% of Spotify’s market cap, with the company valued at $41.06 billion this morning as its shares rose 5.1% following…
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Robinhood’s CFO says it was ready to go public
But the company’s debut is not burning up the stock charts. What happened? Alex Wilhelm 7 hours Robinhood priced at $38 per share this week, opened flat and closed its first day’s trading yesterday worth $34.82 per share, or a bit more than 8% underwater. The company posted a mixed…
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Robinhood’s stock drops 8% in its first day’s trading
Robinhood priced its public offering at $38 per share last night, the low end of its IPO range. The company was worth around $32 billion at that price. But once the U.S. consumer investing and trading app began to allow investors to trade its shares, they went down sharply, off…
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Apple releases torrent of updates, and Wall Street yawns
Today’s WWDC keynote from Apple covered a huge range of updates. From a new macOS to a refreshed watchOS to a new iOS, better privacy controls, FaceTime updates, and even iCloud+, there was something for everyone in the laundry list of new code. Apple’s keynote was essentially what happens when…
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Social media bots may have fuelled the GameStop stock frenzy
The GameStop stock frenzy appears to largely have been the product of Reddit users and trading apps like Robinhood, but some of its contributors might not have been human. According to Reuters, cybersecurity firm PiiQ Media has determined that people… Source
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Markets dragged down by abysmal retail sales and factory output
U.S. major stock indexes fell in Wednesday trading as new data from the Commerce Department and Federal Reserve indicated a collapse in manufacturing output and retail sales. However, the declines did not completely erase yesterday’s gains in another sign that U.S. investors and corporations may be better positioned to withstand…
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