Bitcoin pops, Reddit drops, Wall Street tunes out the Disney fight: Markets news roundup
The Bitcoin rally is ‘getting out of control,’ a top strategist says
Jason Trennert, the chairman and CEO of Strategas Research Partners, spoke with Quartz for the latest installment of our “Smart Investing” video series.
Reddit stock dropped 25% in 2 days because the short-sellers have arrived
Snoo may not be smiling anymore. Reddit stock continued to drop significantly on Thursday as short-sellers made moves on the newly-public company. It closed down more than 14% on the day, capping a two-day fall of almost 25% that saw the stock end a shortened trading week at about $49 per share. That’s just below the $50 price where Reddit stock closed on its first day of trading, though still significantly higher than its $34 IPO price.
Boeing has ‘a cultural problem’ and the CEO quitting ‘doesn’t fix the issue,’ a top strategist says
Jason Trennert, Chairman and CEO of Strategas Research Partners, spoke with Quartz for the latest installment of our “Smart Investing” video series.
Disney and Nelson Peltz keep fighting but the stock just keeps rising
Disney CEO Bob Iger and activist investor Nelson Peltz have been embroiled in a heated proxy battle for control of two seats on the media giant’s board. The corporate fight has attracted bold-faced names including Laurene Powell Jobs, George Lucas, Jamie Dimon, and even Walt Disney’s heirs. The final showdown is Wednesday.
Sam Altman has made $30 million on Reddit’s IPO. His companies are doing even better
Sam Altman won big when the internet’s front page made its eye-popping debut on the stock market last week. The OpenAI CEO isn’t just a fan of the newly-public social platform (although he’s written before about how he used the site daily for nearly a decade). He’s also a major investor in it.
One of Binance’s detained executives reportedly escaped Nigerian authorities with a fake passport
It has all the makings of a crypto-criminal thriller: a global digital currency exchange, an (alleged) tax money heist, captured executives, and Nigerian feds hot on the pursuit. But today, the real-life case of Binance and the nation of Nigeria added a new twist to the alleged caper: a high-stakes escape plot.
A rising AI star has taken the stock market by storm — another sign of an IPO comeback
While everyone was talking about Reddit, Astera Labs quietly took the IPO market by a storm.
Astera Labs is a California-based AI tech firm that provides hardware and software for AI computing. The company — which counts Nvidia, Advanced Micro Devices, and Intel among its customers — went public for $36 per share on March 20.
What’s next for Boeing?
CEO Dave Calhoun stepped down, so is it time to buy the stock? Jason Trennert, Chairman and CEO of Strategas Research Partners, shares his thoughts with Quartz
Is Bitcoin a good speculative investment?
Jason Trennert, Chairman and CEO of Strategas Research Partners, tells Quartz why Bitcoin’s value keeps growing and what it means for investors