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Goldman Sachs made $200 million in paper gains from shrewd investments as the US went into deep freeze in February, new report finds

Pike Electric service trucks line up after a snow storm on February 16, 2021 in Fort Worth, Texas. Ron Jenkins/Getty Images The deep freeze in Texas that left most of the state without power has resulted in paper gains for Goldman Sachs, according to Bloomberg. If the investment bank collects, it could see a gain of more than $200 million. Bank of America also reportedly saw large gains as a result of the storm, according to the Financial Times.   Sign up here for our daily newsletter, 10 ...
Tags: Texas, US, Trends, Markets, Bank Of America, Bloomberg, Goldman Sachs, Houston, Financial Times, Energy Markets, Fort Worth Texas, Lone Star State, Goldman Sachs Group, Isabelle Lee, Pike Electric, Texas Winter Storm


22% of Goldman Sachs clients expect bitcoin to exceed $100,000 in 12 months

Bitcoin has fallen sharply from all-time highs this week S3studio/Getty Images Goldman Sachs in a recent survey revealed that 22% of its clients expect bitcoin's price to hit at least $100,000 in the next 12 months.  54% predict the price of the cryptocurrency will hover between $40,000 to $100,000 in the same period.  Published on March 3, the investment bank surveyed 280 respondents on their exposure, perspective, and outlook of digital assets.  Sign up here for our daily newsletter, 10 ...
Tags: US, Trends, Markets, Tesla, Bitcoin, Janet Yellen, Goldman Sachs, Federal Reserve, Cryptocurrencies, Mastercard, Reuters, Goldman Sachs Group, MicroStrategy, Cryptocurrency Trading, Bitcoin Price, Getty Images Goldman Sachs


Bitcoin mining company Cipher to go public via $2 billion SPAC merger with Good Works

Alain Pitton/NurPhoto via Getty Images Cipher Mining Technologies announced it will go public through a merger with blank-check company Good Works Acquisition. The deal values the combines entity at $2 billion. The transaction is expected to close in the second quarter of 2021.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell Newly formed bitcoin mining operation Cipher Mining Technologies announced it will go public in a merger with blank-check company Good Works...
Tags: Trends, Markets, Bitcoin, Morgan Stanley, Cryptocurrencies, SPAC, Fidelity Management Research Company, Bitcoin mining, Crypto Mining, Isabelle Lee, MI Exclusive, Alain Pitton NurPhoto, Cipher Mining Technologies, Getty Images Cipher Mining Technologies, Cipher Mining, Good Works Co


GameStop bucks market sell-off with 19% surge as Reddit chatter picks up

Robert Galbraith/Reuters Shares of GameStop surged 19% on Thursday, bucking the broader market slump. Reddit chatter seemed to have picked up around 2 PM ET.  At around the same time, Ryan Cohen tweeted a photo, which users interpreted the post as a positive outlook for GameStop. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Shares of GameStop surged 19% on Thursday, bucking a broader market slump amid a massive sell-off as the chatter on Reddit appeared to gain...
Tags: Koss, Trends, Markets, Reddit, Trading, Stock Market, Gamestop, Reuters, Robert Galbraith, GME, AMC Entertainment, Ryan Cohen, Isabelle Lee, Gamestop Stock, Wall Street Bets, MI Exclusive


Tesla extends 3-day slide to 15% as tech sell-off continues following comments from Fed chief

A Tesla supercharger station at Burbank Town Center, in Burbank on Friday, Sept. 4, 2020 in Burbank, CA. Kent Nishimura / Los Angeles Times via Getty Images Shares of Tesla continued to sell off for the third day, tumbling 15% amid wider tech-sector weakness. The remarks of Jerome Powell failed to ease concerns about the spike in longer-term US bond yields.  The Nasdaq erased its year-to-date gains from its February 12 record close Sign up here for our daily newsletter, 10 Things Before th...
Tags: US, Interest Rates, Trends, Markets, Tesla, Treasury, Federal Reserve, Nasdaq, Fed, Burbank, Powell, Federal Reserve Chair, Jerome Powell, Federal Open Market Committee, Tech Stocks, Tesla Stock


Home insurance startup Hippo reportedly set to go public in $5 billion merger with Reid Hoffman's SPAC

Big Tech recovers after a rough day Wednesday on Wall Street. Matteo Colombo/Getty Images Hippo Enterprises said it will go public through a merger with Reinvent Technology Partners Z, a SPAC backed by Mark Pincus and Reid Hoffman. It's the latest name in the insurance technology industry to go public via SPAC. The merger will put both entities at a pro forma value of $5 billion. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Home insurance startup Hippo Enterpris...
Tags: Ipo, Trends, Markets, Zynga, Reid Hoffman, New York Stock Exchange, Fintech, Mark Pincus, SPAC, Hippo, Palo Alto California, Insurtech, Hippo Insurance, Assaf Wand, Spinnaker Insurance Company, Isabelle Lee


Mark Cuban's Dallas Mavericks will accept dogecoin for tickets and merchandise

AP Photo/David J. Phillip Mark Cuban said Dallas Mavericks will now accept dogecoin to purchase tickets and merchandise. "Sometimes in business, you have to do things that are fun," Cuban told DealBook Monday. This isn't the first time for the basketball team. In May 2019, the team began accepting bitcoin Sign up here for our daily newsletter, 10 Things Before the Opening Bell In another sign that dogecoin may be moving beyong its roots as a meme token, the Dallas Mavericks are set to beg...
Tags: Elon Musk, Dallas Mavericks, Trends, Markets, Bitcoin, Mark Cuban, Cryptocurrency, Musk, Shark Tank, Dogecoin, Shiba Inu, Isabelle Lee, CoinFlip, David J Phillip Mark Cuban, MI Exclusive, Dallas Mavs


UBS more than doubles its Tesla price target, citing huge upside in the automaker's software business

Johannes Eisele/AFP via Getty Images UBS more than doubled its price target for Tesla from $325 to $730 this week. The analysts cited the electric car maker's emerging leadership in software. "Tesla has the potential to become one of the most valuable software companies," UBS said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell UBS more than doubled its price target for Tesla on Tuesday, from $325 to $730, while keeping its neutral rating, citing the electric car...
Tags: Electric Vehicle, Elon Musk, Trends, Markets, Tesla, Ubs, Autonomous Driving, Tesla Stock, Johannes Eisele, Patrick Hummel, Analyst Commentary, Isabelle Lee, Opening Bell UBS, Getty Images UBS


Trading of first bitcoin ETF slows in Canada after a roaring debut for the groundbreaking fund

A visual representation of the digital Cryptocurrency, Bitcoin is on display in front of the Bitcoin course's graph Chesnot/Getty Images The Purpose Bitcoin ETF during its first two days of trading saw nearly $400 million of shares change hands.  But on Tuesday, Bloomberg reported the amount slumped to just $17 million.  Buzz has also quieted down around Evolve Fund Group's Bitcoin ETF, which launched a day after BTCC.  Sign up here for our daily newsletter, 10 Things Before the Openin...
Tags: US, Trends, Markets, Bloomberg, Bitcoin, Canada, North America, Securities And Exchange Commission, VanEck, bitcoin ETF, Bitcoin Trading, Cryptocurrency Trading, Bloomberg Bitcoin, Bitfinex CTO, Isabelle Lee, Paolo Ardoino


Hertz stock investors will not be paid back under a reorganization plan as a chapter of the meme-stock saga comes to an end

Cindy Ord/Getty Images Hertz on Tuesday detailed its reorganization plan. The proposal comes nine months after the car rental company entered chapter 11 proceedings. Hertz creditors will mostly be repaid in full, while shareholders will get nothing.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell Hertz Global Holdings on Tuesday detailed its reorganization plan, which revealed that shareholders will get nothing. The restructuring proposal comes nine months after ...
Tags: US, Trends, Markets, Bankruptcy, Reddit, Trading, Stock Market, Hertz, Bankruptcy Court, Wilmington Delaware, US Bankruptcy Court, Cindy Ord Getty Images Hertz, Isabelle Lee, Hertz stock, MI Exclusive, Opening Bell Hertz Global Holdings


SPACs are trying to stand out in a sea of blank-check listings. Here's what 4 high-profile backers are doing to make their IPOs more attractive to investors.

A man sits on the Wall street bull near the New York Stock Exchange Spencer Platt/Getty Images The SPAC frenzy continues in 2021, with over 130 blank check firms listing this year already. Standing out has become much more challenging as the field becomes crowded. Some SPACs are resorting to new methods to catch the eye of investors, according to a report in DealBook on Wednesday. Sign up here for our daily newsletter, 10 Things Before the Opening Bell SPACs are booming. Otherwise known as...
Tags: Ipo, Trends, Linkedin, Markets, New York Times, Reid Hoffman, Paul ryan, Fireeye, Bill Ackman, Stock Market, SPAC, Ackman, Former House, Evercore, DealBook, Dave DeWalt


Rocket Companies surges 70% as chatter from Reddit's Wall Street Bets spikes

Shares of Rocket Companies soared over 60% on Tuesday amid a recent spike in chatter around the company on the Wall Street Bets subreddit. In the past 24 hours, two users have posted screenshots of how much they individually invested in the company. Both have received thousands of upvotes. Another post, however, reiterated that anything other than GameStop is a distraction. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Shares of Rocket Companies soared over 70% on Tue...
Tags: Trends, Markets, Reddit, Trading, Stock Market, Detroit, Cnbc, Gamestop, Rocket Companies, Isabelle Lee, Wall Street Bets, William Callewaert


CBOE files for approval to list the first US bitcoin ETF

Bitcoin. KTS Design/Science Photo Library/Getty Images The CBOE filed a request with the SEC on Monday to list shares of VanEck's bitcoin ETF. The attempt builds on VanEck's earlier S-1 filing from December 30.  If approved, VanEck's bitcoin ETF will be CBOE's first crypto product since it halted offering bitcoin futures in February 2019. Sign up here for our daily newsletter, 10 Things Before the Opening Bell The Chicago Board Options Exchange has filed a request with the US Securities an...
Tags: US, Trends, Markets, Bitcoin, Canada, SEC, North America, Cryptocurrencies, Chicago Board Options Exchange, US Securities and Exchange Commission, CBOE, Van Eck, VanEck, bitcoin ETF, Cryptocurrency Trading, Isabelle Lee


Man Group, the world's largest publicly-listed hedge fund, built a system to analyze daily stock-trading posts on Reddit

In this photo illustration, a Reddit logo is seen displayed on a smartphone. Mateusz Slodkowski/SOPA Images/LightRocket via Getty Images Man Group CEO Luke Ellis said the hedge fund has built a system that tracks popular topics on Wall StreetBets, according to Bloomberg. Ellis said that managers will receive daily reports detailing the trending names or companies being mentioned on the popular subreddit. The report will showcase the ability of the firm to use "technology to address investm...
Tags: Trends, Markets, Bloomberg, Reddit, Gamestop, Ellis, Man Group, Luke Ellis, Bloomberg Ellis, Bloomberg Last, Mateusz Slodkowski, Isabelle Lee, Wall Street Bets, KitrosReddit, Getty Images Man Group, Opening Bell Man Group


Goldman Sachs restarts cryptocurrency trading and will begin dealing bitcoin futures for clients next week, report says

The Goldman Sachs logo is seen displayed on an Android mobile phone Omar Marques/SOPA Images/LightRocket via Getty Images Goldman Sachs Group has restarted its cryptocurrency trading desk amid a boom in bitcoin, Reuters first reported.  The investment bank will deal bitcoin futures and non-deliverable forwards beginning next week.   Goldman Sachs is also reportedly exploring a bitcoin exchange traded fund. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Goldman Sac...
Tags: Trends, Markets, Tesla, Bitcoin, Goldman Sachs, Cryptocurrencies, Mastercard, Reuters, Cryptocurrency Trading, Omar Marques, Isabelle Lee, Getty Images Goldman Sachs Group, Things Before the Opening Bell Goldman Sachs, US Global Markets


New York Attorney General says cryptocurrencies are 'high-risk' and 'unstable', and urges caution when trading

Yuriko Nakao/Getty Images NY attorney general Letitia James called cryptocurrencies "high-risk" and" unstable" investments. She urged investors to exercise "extreme caution" when trading the digital assets. James also warned brokers, dealers, and advisors, of the possibility of facing "both civil and criminal liability" for unauthorized businesses. Sign up here for our daily newsletter, 10 Things Before the Opening Bell New York Attorney General Letitia James on Monday called cryptocurren...
Tags: New York, Trends, Markets, Bitcoin, Cryptocurrencies, James, Letitia James, New York Attorney General, Cryptocurrency Trading, Isabelle Lee, Yuriko Nakao Getty, Things Before the Opening Bell New York


Goldman Sachs restarts cryptocurrency trading and will begin trading bitcoin futures for clients next week, report says

The Goldman Sachs logo is seen displayed on an Android mobile phone Omar Marques/SOPA Images/LightRocket via Getty Images Goldman Sachs Group has restarted its cryptocurrency trading desk amid a boom in bitcoin, Reuters first reported.  The investment bank will deal bitcoin futures and non-deliverable forwards beginning next week.   Goldman Sachs is also reportedly exploring a bitcoin exchange traded fund. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Goldman Sac...
Tags: Trends, Markets, Tesla, Bitcoin, Goldman Sachs, Cryptocurrencies, Mastercard, Reuters, Cryptocurrency Trading, Omar Marques, Isabelle Lee, Getty Images Goldman Sachs Group, Things Before the Opening Bell Goldman Sachs, US Global Markets


77% of people surveyed believe Robinhood's restriction of meme stocks during the GameStop frenzy was market manipulation, new report finds

Robinhood app SOPA Images/Getty Images A survey of 1,300 people found that 77% believe that Robinhood's restriction of some stocks in January was market manipulation. The survey found that 39% felt the whole event was "exciting and good", while 17% felt it was "exciting but a bad investment."  28% said the Robinhood frenzy was chaotic in a positive way, while 15% felt it was detrimental.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell A survey by data analytics fi...
Tags: Congress, Trends, Markets, Commission, Reddit, Robinhood, Gamestop, Vlad Tenev, Citadel, Ken Griffin, Short Squeeze, Robinhood app, Isabelle Lee, Reddit Traders, Wall Street Bets, GameStop short


Bitcoin surges 9% amid Citi comments, China region mining ban

SOPA Images/Getty Images Bitcoin surged as much as 9% on Monday after its worst weekly performance since March 2020 last week.  The cryptocurrency rose after a bullish report from Citi that said bitcoin could be at the start of a "massive transformation" into the mainstream of finance. The price of bitcoin also jumped amid news that China's Inner Mongolia will ban all cryptocurrency mining activities by April 2021. Sign up here for our daily newsletter, 10 Things Before the Opening Bell T...
Tags: China, Trends, Markets, Bloomberg, Ukraine, Beijing, Bitcoin, Citigroup, Argentina, Cambridge University, Cryptocurrencies, Cto, Citi, Reuters, Inner Mongolia, Bitfinex


Rocket Lab agrees to go public via SPAC merger with Vector Acquisition, valuing the space-transport startup at $4.1 billion

Rocket Lab's Launch Complex 2 at NASA's Wallops Island facility in Virginia. Rocket Lab Rocket Lab said it will go public through a merger with SPAC Vector Acquisition Corp. The value of the combined entity is expected to be approximately $4.1 billion.   The deal is expected to close in the second quarter of this year.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell Space transport startup Rocket Lab announced it will go public through a merger with blank-...
Tags: US, Trends, Markets, Nasa, New Zealand, Richard Branson, Space Flight, Stock Market, Nasdaq, Commercial Space Flight, Vector, SPAC, Lockheed Martin Corp, Virginia USA, Wallops Island, Rocket Lab


Bitcoin surges 8% amid Citi comments, China region mining ban

The Grayscale Bitcoin Trust has fallen sharply along with the cryptocurrency itself SOPA Images/Getty Images Bitcoin surged 7% on Monday after its worst weekly performance since March 2020 last week.  The cryptocurrency rose after a bullish report from Citi that said bitcoin could be at the start of a "massive transformation" into the mainstream of finance. The price of bitcoin also jumped amid news that China's Inner Mongolia will ban all cryptocurrency mining activities by April 2021. Si...
Tags: China, Trends, Markets, Bloomberg, Ukraine, Beijing, Bitcoin, Citigroup, Argentina, Cambridge University, Cryptocurrencies, Cto, Citi, Reuters, Inner Mongolia, Bitfinex


Bitcoin staged an epic rally in February. Here is a look back at its record-setting month.

Reuters February was a record-breaking month for the world's most popular currency. Bitcoin's price jumped more than 50%, hit a $1 trillion market cap, and smashed above the $58,000-level. Insider takes a look back at what is likely to be remembered as a historic month for the world's most popular cryptocurrency.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell Bitcoin had a momentous run in February, from catapulting to a market capitalization of $1 trillion to s...
Tags: Apple, Elon Musk, Microsoft, Jay Z, India, New York City, Africa, US, America, Trends, Markets, Tesla, European Central Bank, Bitcoin, Square, Janet Yellen


Bitcoin staged an epic rally in February. Here's a look back at its record-setting month.

Reuters February was a record-breaking month for the world's most popular currency. Bitcoin's price jumped more than 50%, hit a $1 trillion market cap, and smashed above the $58,000-level. Insider takes a look back at what is likely to be remembered as a historic month for the world's most popular cryptocurrency.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell Bitcoin had a momentous run in February, from catapulting to a market capitalization of $1 trillion to s...
Tags: Apple, Elon Musk, Microsoft, Jay Z, India, New York City, Africa, US, America, Trends, Markets, Tesla, European Central Bank, Bitcoin, Square, Janet Yellen


The SEC suspends trading in 15 stocks because of suspicious activity and social-media chatter

Mark Wilson/Getty Images The SEC suspended trading in 15 companies on Friday, citing suspicious activity and social-media chatter.The suspension is part of the agency's ongoing effort to prevent attempts to exploit investors, especially amid market volatility. The agency under federal law can suspend trading in a stock for 10 days.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.The US Securities and Exchange Commission on Friday suspended trading in 15 companies...
Tags: Trends, Markets, SEC, Stocks, Stock Market, Securities And Exchange Commission, Mark Wilson Getty, US Securities and Exchange Commission, SCIE, Ptah, SpectraScience Inc, Market Manipulation, Stock Market Volatility, Isabelle Lee, NTLK, BBDA


Here is why booming bitcoin will never be a form of payment, according to 5 experts

The Bitcoin price has risen more than 340% this year, causing some analysts to label it a 'bubble' Dado Ruvic/Reuters As more institutions embrace bitcoin, some experts say the cryptocurrency is not well suited as a method of payment. Janet Yellen on Monday said bitcoin is "an extremely inefficient way of conducting transactions." Insider asked five experts whether they think bitcoin will see widespread use as a form of payment. Sign up here for our daily newsletter, 10 Things Befo...
Tags: America, Trends, Markets, Tesla, Paypal, Bitcoin, Janet Yellen, US Treasury, Cryptocurrencies, Btc, Yellen, USDC, Julius, Stablecoins, William Quigley, Isabelle Lee


DoorDash slips as expectations of weaker delivery demand following vaccine rollout weigh on strong 4th-quarter revenue

A delivery person for Doordash rides his bike in the rain during the coronavirus disease (COVID-19) pandemic in the Manhattan borough of New York City, New York, U.S., November 13, 2020. Carlo Allegri/Reuters Shares of DoorDash slipped 3% on Thursday after it acknowledged the possibility of weaker demand in 2021 as COVID-19 vaccinations accelerate. Food delivery companies last year saw a surge in demand from customers ordering food and groceries as stay-at-home orders persisted.  For the f...
Tags: San Francisco, Trends, Markets, Manhattan, Earnings, Stock Market, Doordash, EBITDA, GAAP, New York City New York, Delivery Services, Adarkar, Prabir Adarkar, COVID, Isabelle Lee, DoorDash stock


Virgin Galactic slips 14% on further test flight delay, pushing commercial service launch to 2022

Virgin Galactic (SPCE) logo is displayed on a screen on the floor of the NYSE in New York Reuters Shares of Virgin Galactic Holdings tumbled 14% on Friday after it announced that it would push its next test flight to May. The postponement pushes commercial service to 2022. The company currently has 600 people who have paid for trips to space.  Sign up here for our daily newsletter, 10 Things Before the Opening Bell Shares of Virgin Galactic Holdings tumbled 14% on Friday after the spacefli...
Tags: New York, Trends, Markets, Virgin Galactic, Virgin, Richard Branson, Space Flight, New Mexico, Air Force, Stock Market, Nyse, EBITDA, Spaceport America, LAS CRUCES New Mexico, Michael Colglazier, SPCE


Cathie Wood says bitcoin's market cap could swell into the trillions

Cathie Wood is the CEO and chief investment officer of ARK Invest, which runs three of the highest-returning stock ETFs of the last three years. ARK Invest Cathie Wood says she could see bitcoin's market cap swelling into the trillions. The ARK Invest founder said bitcoin is still in its "very early" stages. The announcement of bitcoin investments by major institutions this month was a pleasant surprise, Wood said. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Ca...
Tags: Apple, Trends, Markets, Tesla, Bitcoin, Wood, Cryptocurrency, Mastercard, Securities and Exchange Commission Read, Bitcoin Price, Cathie Wood, Bloomberg Crypto, ARK Invest, Isabelle Lee, Grayscale Bitcoin Trust, Opening Bell Cathie Wood


MicroStrategy CEO Michael Saylor says he'll consider stock or debt financing in order to buy more bitcoin

A visual representation of the digital Cryptocurrency, Bitcoin is on display in front of the Bitcoin course's graph Chesnot/Getty Images The MicroStrategy CEO said the company is considering issuing more debt to buy bitcoin.  "It makes sense to buy as much of that asset class as we can," the CEO said. In total, MicroStrategy has amassed 90,531 bitcoins as of February 24 since it began purchases of the digital asset in August.  Sign up here for our daily newsletter, 10 Things Before the...
Tags: US, Trends, Markets, Bitcoin, Cryptocurrency, Saylor, MicroStrategy, Michael Saylor, Bloomberg Crypto, Isabelle Lee, Opening Bell MicroStrategy, Microstrategy bitcoin


Nvidia slips as concerns over global chip shortage weigh on 4th-quarter earnings beat

Mike Blake/Reuters Shares of Nvidia fell on Thursday as investor concerns about a global chip shortage weighed on an otherwise positive earnings report. The stock fell 3% in premarket trades on Thursday. The semiconductor industry has been struggling to meet global demand, thanks to an unexpected boom in online activity brought about by the pandemic. Sign up here for our daily newsletter, 10 Things Before the Opening Bell Shares of chip maker Nvidia fell 3% in premarket trading on on Thur...
Tags: Softbank, Trends, Markets, Intel, Nvidia, Earnings, Trading, Stock Market, Samsung Electronics, Apple Samsung, Huang, Santa Clara California, Mike Blake, Nvidia Nvidia, Jensen Huang, Nvidia stock