What GameStop Would possibly Actually Be Value

0
90

Yield season More than a fifth of the S&P 500 companies report this week. They’re hoping to get a number of better-than-expected results: According to FactSet, more than 80 percent of companies have exceeded their fourth quarter earnings forecasts so far.

Among the notable reports are alphabet, Amazon, BP, Exxon and Pfizer on Tuesday; Apollo and Qualcomm On Wednesday; and Deutsche Bank, ford, Bowl and SoftBank on Thursday.

Kuaishou, a hugely popular video sharing app in China, is set to raise more than $ 5 billion in Hong Kong on Friday, the largest IPO in over a year.

The U.S. employment report An increase of 50,000 jobs in January is expected on Friday, which only partially offsets the loss of 140,000 jobs in December.

At the center of the meme stick frenzy is Reddit, whose WallStreetBets forum was the birthplace of the trade that drove GameStop’s stocks to dizzying heights. Steve Huffman, CEO of the Message Board operator, took part in the Times Opinion podcast “Sway” with Kara Swisher and had a lot to say about his company’s role in the meltdown. Two of its main points:

Reddit can’t do much. Stressing the company’s responsibility to protect users from the hustle and bustle, Huffman likened trading to other dangerous activities. “I would be concerned if people jumped off a cliff into a river, too,” he said to Kara.

  • According to Mr. Huffman, users are just giving their opinion, and that’s legal: “I’m not even sure what gates we’d set up.”

Reddit is no different from the media. When asked how his company’s forums could be used to spread disinformation, Huffman said his company was behaving like mainstream financial media:

I would criticize CNBC as much as I would any financial newsletter. This is how the game is played. People have their theories. They have their wishes. They have stocks to push. You go on TV. You go to newsletters. They write newsletters. You go to forums.

deals

  • Shares in companies affiliated with HNA, the once high-flying Chinese conglomerate, collapsed as creditors tried to bankrupt their parent company. (Reuters)

  • Last month, thanks to SPACs, a record was set for IPO offers. The London Stock Exchange CEO said the city’s attractiveness for blank check funds could help maintain its post-Brexit hub status. (Bloomberg, Reuters)

Politics and politics

  • The paycheck protection program was revived, but researchers say the loan program saved relatively few jobs. (NYT)

  • The January 6 rally in Washington, which preceded the Capitol uprising, was largely funded by the heiress of the supermarket chain Publix, a top Trump campaign donor. (WSJ)

technology

  • In the fall of the mountain. Gox, once a huge bitcoin exchange. (Bloomberg)

  • The winners of a federal auction for 5G spectrum, for which bids valued at $ 81 billion have been submitted, are expected to be announced soon. (CNBC)

The best of the rest

  • The shocking story of one man’s hunt for the person who is destroying the reputation of his family and family – and many, many others – online. (NYT)

  • “How Women Are Changing the Philanthropy Game” (NYT)

  • Forget the Ivy League: The CIA is searching Twitter and LinkedIn to recruit Millennial and Gen Z agents. (WSJ)

We appreciate your feedback! Please email your thoughts and suggestions to [email protected]