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The fund that staged a board revolt at Exxon last month is launching a retail ETF designed to spar with corporate management

Francis Scialabba. Francis Scialabba The activist group that won two board seats at Exxon last month is launching an ETF. The fund is explicitly aimed at retail investors, and will vote on corporate matters related to ESG goal. The new ETF comes as the SEC is evaluating its role in regulating the growing universe of ESG investments. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Engine No. 1, the activist group that fomented a coup against Exxon and won two seats...
Tags: Trends, Markets, Exxon Mobil, SEC, ESG, Exxon, Shareholder Activism, Blackrock, Morningstar, ETF, Elad Roisman, MI Exclusive, Francis Scialabba Francis Scialabba, Ethan Wu, Engine No. 1, Yasmin Dahya Bilger


Bitcoin stages a rebound above $34,000 after wiping out all of its 2021 gains a day earlier

NurPhoto/Getty Images Bitcoin staged a rebound Wednesday, just a day after wiping out all its gains for 2021. The cryptocurrency had fallen as much as 30% since reaching a multiweek high on Jun 15. One expert sees bitcoin trading rangebound near-term between $30,000 to $42,000. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Bitcoin staged a rebound Wednesday, just a day after wiping out all its gains for 2021.The world's largest cryptocurrency climbed as muc...
Tags: China, Trends, Markets, Bitcoin, Delta, Cryptocurrencies, Btc, Wu, Alexandra Clark, Bitcoin mining, China Bitcoin, John Wu, Isabelle Lee, Opening Bell Bitcoin, Bitcoin options, NurPhoto Getty Images Bitcoin


A Canadian bitcoin fund just became the Middle East's first crypto listing after debuting on Nasdaq's Dubai exchange

A pile of bitcoin cryptocurrencies. Jakub Porzycki/NurPhoto via Getty Images Jakub Porzycki/NurPhoto via Getty Images The Bitcoin Fund listed on the Nasdaq Dubai Wednesday as the Middle East joins the crypto craze. The fund was the first of its kind to be listed on a major exchange in Toronto last year. The Bitcoin Fund has risen about 10% since listing, according to data from Nasdaq Dubai. See more stories on Insider's business page. The Middle East has joined the crypto craze. On W...
Tags: Elon Musk, China, Toronto, Trends, Markets, Tesla, Bloomberg, Bitcoin, Canada, Middle East, Dubai, Nasdaq, Cryptocurrencies, North Africa, Corp, Nasdaq Dubai


Retail traders bought $2.1 billion worth of stocks in a single day last week - the most on record

Amanda Perobelli/ Reuters Amanda Perobelli/ Reuters Retail traders bought $2.5 billion of stocks last Friday, a daily record, Vanda Research said. The retail inflows came as the S&P 500 had a losing week. While retail investors poured into value stocks, institutional investors exited. See more stories on Insider's business page. Retail traders purchased $2.1 billion worth of stocks last Friday alone, a single-day record. The size of retail purchases last Friday was high compared to t...
Tags: Trends, Markets, Stock Markets, Reddit, Federal Reserve, Gamestop, Vanda, AMC Entertainment, ContextLogic, Millennial investors, Natasha Dailey, Wall Street Bets, Meme stocks, Vanda Research, Retail Traders, Giacomo Pierantoni


Cathie Wood's Ark ETFs loaded up on Coinbase and the Grayscale Bitcoin Trust as crypto collapsed

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's Ark ETFs loaded up on crypto-related investments as bitcoin fell below $30,000 on Tuesday. The Ark CEO's funds bought over 1 million shares of the Grayscale Bitcoin Trust and 214,718 shares of Coinbase. Despite recent bitcoin drawdowns, Wood is sticking to her long-term price target of $500,000. Sign up here for ou...
Tags: Trends, Markets, Tesla, Wood, Dogecoin, Cathie Wood, ARK Invest, Emily Graffeo, Cathie Wood Bitcoin, Grayscale Bitcoin Trust, ARKK, ARKW, Opening Bell Cathie Wood, MI Exclusive, Ark ETF, Cathie Wood Buying


Jeremy Grantham says the stock market is in a meme-fueled bubble - and shares the drastically lower valuation level that would make him a buyer of equities

Matthew Lloyd/Getty Images for ReSource 2012 Jeremy Grantham explained why the stock market is in a meme-fueled bubble during an interview with Bloomberg on Tuesday.Grantham pointed to stretched valuations, commission-free retail trading, and cryptocurrencies to back up his view.The legendary investor also shared the valuation level that would make him feel comfortable buying stocks again.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Legendary investor Jeremy Gra...
Tags: Finance, US, Trends, Markets, Bloomberg, Trading, Goldman Sachs, Stock Market, Grantham, FactSet, Jeremy Grantham, Dogecoin, Matthew Fox, Matthew Lloyd Getty, Bloomberg Opinion, Stock Market Outlook


Morgan Stanley plans to block unvaccinated employees and guests from entering its New York offices

Morgan Stanley is requiring employees and clients entering its New York offices to be fully vaccinated against COVID-19. Mario Tama/Getty Images Morgan Stanley will require a COVID-19 vaccine for entry at its NY offices, Financial Times said. Once the policy goes into effect July 12, all unvaccinated employees will lose building access. The bank has already implemented "vaccine-only" work areas, FT reported. See more stories on Insider's business page. Morgan Stanley plans to block all...
Tags: New York, News, Finance, New York City, Trends, Markets, Vaccine, Morgan Stanley, Financial Times, Pandemic, COVID-19, COVID, Tyler Sonnemaker, Vaccine Passports, Mario Tama Getty Images Morgan Stanley, Westchester Morgan Stanley


Nasdaq closes at a record as Fed's Powell reiterates that rising inflation is transitory

Spencer Platt/Getty Images US stocks climbed Tuesday as investors digested messaging from the Federal Reserve. Fed chairman Jerome Powell reiterated that inflation will be transitory in a congressional testimony. Bitcoin slid below $30,000 for the first time since January. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. US stocks ticked higher after the Federal Reserve chair reiterated his outlook that inflationary pressures will be transitory. In a testimony t...
Tags: Apple, Microsoft, US, America, Trends, Gold, CIO, Markets, Oil Prices, Federal Reserve, Nasdaq, Dow, S&P 500, Fed, Powell, Jerome Powell


Jeremy Grantham reiterates his view that the stock market is in a meme-fueled bubble - and shares the drastically lower valuation level that would make him a buyer of equities

Matthew Lloyd/Getty Images for ReSource 2012 Jeremy Grantham explained why the stock market is in a meme-fueled bubble during an interview with Bloomberg on Tuesday.Grantham pointed to stretched valuations, commission-free retail trading, and cryptocurrencies to back up his view.The legendary investor also shared the valuation level that would make him feel comfortable buying stocks again.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Legendary investor Jeremy Gra...
Tags: Finance, US, Trends, Markets, Bloomberg, Trading, Goldman Sachs, Stock Market, Grantham, FactSet, Jeremy Grantham, Dogecoin, Matthew Fox, Matthew Lloyd Getty, Bloomberg Opinion, Stock Market Outlook


Peloton pops 8% as company announces corporate wellness program and pushes into wearables market

RBL/Bauer-Griffin/GC Images via Getty Images Peloton popped Tuesday on news the company was pitching companies on corporate wellness programs Bloomberg also reported that the company was mounting a venture into the wearable device market. The stock built on its gains throughout the trading session, and closed at $117.17, up 8.4%. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Peloton climbed 8% Tuesday after it announced it would offer discounted products and se...
Tags: Wearables, Trends, Markets, Bloomberg, Wayfair, Peloton, Corporate Wellness, Opening Bell Peloton, MI Exclusive, Ethan Wu, RBL Bauer Griffin GC Images, Getty Images Peloton, Samsung SAP


Oil could jump above $100 for the first time since 2014 next year as demand soars, Bank of America says

Anton Petrus/Getty Images Oil prices could briefly spike to $100 per barrel in 2022 as demand surges, Bank of America says. On the demand front, pent-up desires to move out and about after an 18 month lockdown will push prices higher. Brent crude hasn't hit $100 since 2014. On Tuesday it jumped above $75 a barrel for the first time in two years. Sign up here our daily newsletter, 10 Things Before the Opening Bell. Oil prices could briefly spike to $100 per barrel in 2022 as demand s...
Tags: US, Trends, Markets, Bank Of America, Opec, Oil Prices, Brent, ESG, Blanch, Oil Demand, Francisco Blanch, Emily Graffeo, Oil Analysis, Opening Bell Oil, Oil Prices Today, MI Exclusive


A tiny biotech company focused on breast cancer treatments has soared 29% amid Reddit hype

Omar Marques/SOPA Images/LightRocket via Getty Images Omar Marques/SOPA Images/LightRocket via Getty Images Atossa Therapeutics rallied 29% Tuesday on hype from retail traders on Reddit. Redditors cheered that the company will soon be included on the Russell 2000 and 3000 indexes. The Seattle-based biopharmaceutical is focused on developing its breast-cancer treatment. See more stories on Insider's business page. Shares of a tiny biopharmaceutical company soared 29% Tuesday as Reddit ...
Tags: Breast Cancer, Trends, Markets, Reddit, Biotech, Seattle, Gamestop, Russell, Atos, Atossa, Omar Marques, Natasha Dailey, Meme stocks, Retail Traders, Getty Images Omar Marques SOPA Images LightRocket, Getty Images Atossa Therapeutics


Crypto-custody firm Fireblocks is being sued by a company that says it was locked out of a wallet containing more than $70 million of ether

Jack Taylor/Getty Images Fireblocks is being sued by a company that claims it was locked out of a wallet containing more than $70 million of ether. StakeHound says Fireblocks did not back up the private keys to its digital wallet and funds were lost. Fireblocks has denied wrongdoing, claiming StakeHound didn't store the backup per Fireblock's guidelines. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. Israeli crypto-custody firm Fireblocks is facing a l...
Tags: Trends, Markets, Ethereum, Digital Wallet, Calcalist, Ether, Jack Taylor Getty, Emily Graffeo, MI Exclusive, Fireblocks, Crypto crash, Stakehound


Investors' view on cryptocurrencies is split, with 49% calling it 'rat poison' or a temporary fad, JPMorgan survey finds

Drew Angerer/Getty Images Cryptocurrencies remain a polarizing topic among investors, according to a survey conducted by JPMorgan.About half of investors surveyed believe that cryptocurrencies are here to stay, while the other half believes the asset class is either a temporary or "rat poison."One thing the surveyed investors can agree on: cryptocurrencies will be subject to tighter regulations going forward.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Investors...
Tags: Finance, Trends, Markets, Bitcoin, Crypto, Trading, SEC, Warren Buffett, Cryptocurrencies, Jpmorgan, Matthew Fox, JPMorgan About, Analyst Note, MI Exclusive


Splunk surges 14% after the software company announces a $1 billion investment from Silver Lake

Doug Merritt, the CEO of Splunk, tells Insider about partnering with Microsoft and navigating a tough transition to cloud. Splunk Splunk stock leaped 14% after the company announced a $1 billion investment from Silver Lake. The cash infusion will be plowed back into the business and used to fund a $1 billion share buyback. Splunk has been undergoing a long-term pivot from software license sales to recurring revenue cloud services. Sign up here for our daily newsletter, 10 Things Before the...
Tags: Microsoft, Trends, Markets, Private Equity, Silver Lake, Splunk, Data Analytics, Doug Merritt, Kenneth Hao, MI Exclusive, Ethan Wu, Hao Splunk


Torchlight cashes in on Reddit hype and sells $100 million in new shares after retail traders help drive a 58% surge in the stock price

Reuters Reuters orchlight sold $100 million worth of new shares amid retail-trader hype, a new SEC filing shows. Shares of the small Texas oil driller tumbled as much as 25% Tuesday after a record rally Monday. Reddit investors are backing the stock ahead of its merger with Metamaterial at the end of June. See more stories on Insider's business page. Torchlight Energy Resources was quick to cash in on retail-trader hype, selling $100 million worth of new shares amid the stock's rec...
Tags: Texas, Trends, Markets, Bloomberg, Reddit, SEC, Securities And Exchange Commission, Short Sellers, Transocean, Peabody, Plano Texas, Reuters Reuters, Short Squeeze, Share Sale, AMC Entertainment, Torchlight Energy Resources


Fears of 1970s-era inflation are overblown and ignore key differences in labor and commodities markets, says Bridgewater's co-CIO

Some investors worry that fiscal and monetary stimulus will drive up inflation Eva Hambach/Getty Images A return to 1970s-style inflation is unlikely, Bridgewater co-CIO Bob Prince told the Financial Times. Back then, the American economy experienced "cost push" inflation, driven by rising costs for labor and commodities. Prince offered a note of caution, warning that continuous wage growth could lead to inflation. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. A...
Tags: America, Trends, CIO, Markets, Inflation, Prince, Financial Times, Fed, Bridgewater, Ray Dalio, Bridgewater Associates, Bob Prince, MI Exclusive, Ethan Wu, Eva Hambach Getty Images, Bridgewater co CIO


A quarter of financial advisors have crypto in their clients' portfolios - while 35% say they will be buying in the future, Credit Suisse survey finds

Robinhood reported a surge in interest in bitcoin from women NurPhoto/Getty Images A Credit Suisse survey found that 25% of financial advisors have digital assets in clients' portfolios. Additionally, 35% indicated that they will be including allocations to digital assets "in the future." The survey comes as the cryptocurrency sector faces a harsh sell-off. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. A small survey from Credit Suisse found that 25% of fin...
Tags: Trends, Markets, Bitcoin, Credit Suisse, SEC, Robinhood, VanEck, Emily Graffeo, Bitcoin Investing, Bitcoin Allocation, Bitcoin Institutional Investor, MI Exclusive, Cryptocurrency allocation, Crypto Allocation, Crypto Portfolio, NurPhoto Getty Images A Credit Suisse


Clover Health jumps 20% as Redditors cheer company's acknowledgement that the stock is the target of a short squeeze

Chamath Palihapitiya. Brian Ach/Getty Images for TechCrunch Brian Ach/Getty Images for TechCrunch Clover Health shares surged 20% Tuesday amid hype from Reddit retail traders. Redditors on popular investing threads cheered the opportunity for a short-squeeze. The Chamath Palihapitiya-backed healthcare company has a 26% short-interest ratio. See more stories on Insider's business page. Redditors drove a new rally in shares of Chamath Palihapitiya-backed Clover Health Tuesday amid excite...
Tags: Trends, Markets, Barclays, Reddit, Gamestop, Clover, Clover Health, Chamath Palihapitiya, Short Sellers, SPAC, Redditor, Medicare Advantage, Short Squeeze, Redditors, Hindenburg Research, Natasha Dailey


GameStop jumps 10% after raising $1.1 billion in a new stock offering

Reuters Reuters GameStop shares rallied 10% early Tuesday after the company raised $1.1 billion in a stock offering. The rally adds to the video-game retailer's nearly 1,000% rise so far this year. The company plans to use proceeds for general corporate purposes and growth initiatives. See more stories on Insider's business page. GameStop shares rallied 10% early Tuesday after the video-game retailer announced it raised $1.1 billion from an equity offering. In a statement, the co...
Tags: Amazon, Texas, Trends, Markets, Reddit, Gamestop, Transocean, Peabody, Express, AMC Entertainment, Ryan Cohen, Markets Insider, Natasha Dailey, Wall Street Bets, Meme stocks, Retail Traders


US stocks trade mixed as investors mull economic outlook ahead of Fed chief's testimony

Bryan R. Smith/AFP/Getty Images US stocks were mixed on Tuesday as investors digested messaging from the Federal Reserve. Fed chairman Jerome Powell reiterated his outlook that inflationary pressures are transitory. Bitcoin slid below $30,000 for the first time since January. Sign up here for our daily newsletter, 10 Things Before the Opening Bell. See more stories on Insider's business page. US stocks edged slightly lower on Tuesday as investors digested talks from a number of Fede...
Tags: Congress, US, Trends, Gold, Markets, Oil Prices, Deutsche Bank, Federal Reserve, Nasdaq, John Williams, Dow, S&P 500, Fed, Powell, New York Fed, Jerome Powell


Tumbling bitcoin is testing the crucial $30,000 threshold - and its ability to stay above it could determine whether the plunge deepens or a rebound takes hold

Johannes Eisele/AFP via Getty Images Bitcoin is testing a key technical support level at $30,000 after falling as much as 10% on Tuesday. The popular cryptocurrency could see further downside to $20,000 if the support level doesn't hold.Alternatively, a successful test of the $30,000 support level could set bitcoin up for a surge back to $40,000.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.Bitcoin is facing a make-or-break moment after falling as much as 10%...
Tags: Finance, China, Trends, Markets, Bitcoin, Crypto, Trading, Goldman, Btc, Technical Analysis, Cryptocurrency, Matthew Fox, Johannes Eisele, Bitcoin Price, BTC price, Getty Images Bitcoin


GameStop jumps 8% after raising $1.1 billion in a new stock offering

Reuters Reuters GameStop shares rallied 8% Tuesday after the company raised $1.1 billion in a stock offering. The rally adds to the video-game retailer's approximate 1,000% rise so far this year. The company plans to use proceeds for general corporate purposes and growth initiatives. See more stories on Insider's business page. GameStop shares rallied 8% early Tuesday after the video-game retailer announced it raised $1.1 billion from an equity offering. In a statement, the compa...
Tags: Amazon, Texas, Trends, Markets, Reddit, Gamestop, Transocean, Peabody, Express, AMC Entertainment, Ryan Cohen, Markets Insider, Natasha Dailey, Wall Street Bets, Meme stocks, Retail Traders


Dow soars 586 points in best day since March as the reopening trade recovers

Xinhua/Wang Ying/ Getty Images The Dow Jones soared 5TK points and had its best day since March on Monday.The surge higher was driven by sectors tied to the physical reopening of the economy, like energy and industrials.Sign up here for our daily newsletter, 10 Things Before the Opening Bell.US stocks surged on Monday with the Dow Jones having its best day since March, jumping more than 600 points. The rally was driven by the reopening trade, which has mostly stumbled in June as large-cap ...
Tags: Finance, China, US, Trends, Markets, Bill Ackman, Federal Reserve, Stock Market, Dow Jones, S&P 500, Dow Jones Industrial Average, Fed, SPAC, Ackman, Dogecoin, MicroStrategy


Lordstown Motors insiders reportedly sold $8 million of stock ahead of bad news that sent shares of the EV maker plummeting

The Endurance. Lordstown Motors Top execs at Lordstown Motors sold $8 million worth of stock a month before reporting disappointing financial results, according to the Wall Street Journal. The disclosure of the sales comes only a week after the resignations of the firm's CEO and CFO. Lordstown says a special committee concluded that the sales were "made for reasons unrelated to the performance of the company." Sign up here for our daily newsletter, 10 Things Before the Opening Bell. T...
Tags: Trends, Markets, Electric Vehicles, SEC, Wall Street Journal, Cfo, Lordstown, Electric trucks, Julio Rodriguez, Lordstown Motors, Hindenburg Research, MI Exclusive, Ethan Wu, Rich Schmidt, Endurance Lordstown Motors Top, CFO Lordstown


A tiny oil driller has surged 249% in just 6 days as a newly minted meme stock amid Reddit speculation of a short squeeze

Anton Petrus/Getty Images Anton Petrus/Getty Images Torchlight surged 249% in just six days of trading amid retail-trader interest. Retail traders touted opportunity for profit in the stock with the dividend or a short squeeze. The Texas oil driller extended the deadline to merge with Metamaterial in order to pay out a dividend. See more stories on Insider's business page. Shares of a tiny Texas oil driller have more than tripled in price in a week amid hype from retail investors arou...
Tags: Texas, Oil, Trends, Markets, Bloomberg, Reddit, Oil And Gas, Gamestop, Short Selling, Redditor, Plano Texas, Short Squeeze, Torchlight Energy Resources, Dartmouth Canada, Retail Trading, Natasha Dailey


Renewable energy-focused bitcoin mining firm Bitfarms slumps 8% in Nasdaq debut

A worker checks the fans on miners, at the cryptocurrency farming operation, Bitfarms, in Farnham, Quebec, Canada. Reuters/Christinne Muschi Renewable energy-focused bitcoin mining company Bitfarms slumped 8.6% in its first day of trading on the Nasdaq. The Canadian company has traded on the Toronto Stock Exchange since 2019. Bitfarms estimates that among other publicly traded cryptocurrency mining companies, it has mined the largest amount of bitcoin with renewable energy. Sign up here ...
Tags: China, Trends, Markets, Bitcoin, TSX Venture Exchange, Toronto Stock Exchange, Bitcoin mining, Emily Graffeo, MI Exclusive, Bitcoin Mining Stocks, Marathon Digital Holdings, Bitfarms, Bitfarms nasdaq, Renewable energy mining, Sichuan province Sichuan, South China Morning Post Bitfarms


Shipping stocks have notched triple-digit gains in 2021 as transport rates skyrocket

Suez Canal Authority via AP Shares of shipping companies have been on a tear in 2021 as supply-chain bottlenecks persist. The owner of the Ever Given ship that got stuck in the Suez Canal has gained 273% in 2021. In the US, Eagle Bulk Shipping and Diana Shipping are both up over 170% year-to-date. See more stories on Insider's business page. Shares of shipping companies have been on a tear in 2021 as supply-chain bottlenecks and pent-up demand drive up the costs of transport.Evergreen...
Tags: Trends, Markets, Bloomberg, Ap, Shanghai, Rotterdam, Suez Canal, Stifel, Diana Shipping, Shipping Costs, Shipping Fees, Yang Ming Marine Transport Corporation, COSCO Shipping Holdings, Suez Canal Authority, Ben Nolan, Emily Graffeo


ContextLogic jumps 22% as Redditors highlight it as a meme-stock play for the week

Mateusz Slodkowski/SOPA Images/LightRocket/Getty Images Mateusz Slodkowski/SOPA Images/LightRocket/Getty Images ContextLogic, the e-commerce company that runs the Wish platform, rallied 22% Monday. The company was the top-hyped stock on Reddit investing threads like Wall Street Bets. "Wish is the play this week," said one Redditor. See more stories on Insider's business page. Shares of ContextLogic jumped as much as 22% Monday, as retail traders on Reddit investing threads touted the...
Tags: Trends, Markets, Tesla, E-commerce, Reddit, Blackberry, Gamestop, Marketwatch, San Francisco California, Redditor, Short Squeeze, AMC Entertainment, Clean Energy Fuels, Torchlight, ContextLogic, Mateusz Slodkowski


Struggling companies are following AMC's lead and trying to raise money through stock offerings as day-traders reinvent the market

Express Inc. executives Fran Horowitz-Bonadies, Colin Campbell, David Kornberg, Arlene Weiss, Michael Weiss, President & CEO Express, Inc., Stefan Kaluzny, Chairman of the Board, Express Inc., Elliot Tobias, Jeanne St. Pierre, Doug Tilson, Jack Rafferty, Matt Moellering and Lisa Gavales ring the opening bell at the New York Stock Exchange on May 14, 2010 in New York City. Photo by Slaven Vlasic/Getty Images Photo by Slaven Vlasic/Getty Images Express, Peabody, and Transocean are seeking he...
Tags: Amc, Trends, Debt, Markets, Reddit, New York Stock Exchange, Wall Street Journal, Securities And Exchange Commission, St Louis Missouri, COLUMBUS Ohio, Transocean, Peabody, New York City Photo, Express, Scott Hartman, Adam Aron