Monthly Archives: September 2023
Elon Musk says Twitter, now X, is moving to monthly subscription fees and has 550 million users
(CNBC) Elon Musk discussed his plans for Twitter, now called X, on Monday during a livestreamed conversation with Israeli Prime Minister Benjamin Netanyahu. Among other things, Musk said the social network is “moving to having a small monthly payment for […]
Instacart prices IPO at $30 a share, valuing grocery-delivery company at about $10 billion
(CNBC) Instacart, the grocery-delivery company that saw its business boom during the pandemic, priced its long-awaited IPO at $30 a share on Monday, and will become the first notable venture-backed tech company to hit the U.S. public market since December […]
CFTC Orders Utah Man to Pay More Than $2.5 Million for Leveraged Bitcoin Fraud
(HedgeCo.Net) The Commodity Futures Trading Commission has issued an order simultaneously filing and settling charges against Jacob Orvidas. The order finds Orvidas fraudulently solicited at least four people (pool participants) to trade leveraged bitcoin in a commodity pool, lost almost […]
Stock futures are little changed as Wall Street awaits Fed meeting: Live updates
(CNBC) U.S. stock futures inched up Sunday night as investors look toward the Federal Reserve’s next policy decision. Futures tied to the Dow Jones Industrial Average added 32 points, or 0.1%. The S&P 500 and Nasdaq 100 futures also ticked […]
Larger hedge funds outperform smaller funds in August: hedge fund news
(Opalesque) In the week ending September 15th 2023, HFR reported that hedge funds posted mixed strategy performance in the volatile month of August as inflationary pressures remained persistent, interest rates increased, and equities declined. The HFRI Fund Weighted Composite Index […]
Instacart aims for valuation of up to $10 billion in upcoming IPO
(CNBC) Grocery delivery platform Instacart raised its initial price range to between $28 and $30 per share in a regulatory filing Friday, aiming for a valuation of up to $10 billion. Instacart plans to offer 22 million total shares when […]
Ray Dalio warns of ‘great disruptions,’ shares top tips for new investors
(CNBC) U.S. billionaire Ray Dalio says new investors should have a diversified portfolio as economic and geopolitical headwinds persist. “I would like to have diversification, because what I don’t know is going to be much greater than what I do […]
Brevan Howard predicts digital assets boom
(Hedgeweek) Brevan Howard Asset Management is targeting “disproportionate returns” from digital assets, having predicted a boom in the space similar to that seen with the internet over the past 20 years, according to a report from Bloomberg. To read this […]
Stock futures are little changed on Thursday evening: Live updates
(CNBC) Stock futures were flat in overnight trading Thursday after markets rallied on the back of the latest IPO debut. Futures connected to the Dow Jones Industrial Average added 32 points, or 0.09%. S&P 500 futures and Nasdaq-100 futures hovered […]
Connecticut Advisory Firm GlennCap and its Owner Charged with Cherry-Picking
(HedgeCo.Net) The Securities and Exchange Commission has settled fraud charges against GlennCap LLC, a Connecticut-based investment advisory firm, and its owner, Jonathan Vincent Glenn, for allocating profitable securities trades to favored accounts, including GlennCap’s own accounts and client accounts that […]
GM sweetens UAW offer to include 20% wage increase, other benefits as it tries to avoid strike
(CNBC) The proposal, which GM CEO Mary Barra called “compelling and unprecedented,” addresses many of the union’s demands but continues to fall short on others, such as a 40% pay increase over the four years of the deal that UAW […]
SoftBank’s Masayoshi Son says AI-fueled technology can surpass human intelligence ‘big time’
CNBC) Artificial intelligence is capable of helping solve some of the world’s biggest problems and could potentially surpass the intelligence of humankind, according to SoftBank’s Masayoshi Son. “Mankind was the smartest animal on the earth — AI is going to […]