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☆ Founders Fund partner Sam Blond has left the firm
▼ + stars: | 2024-03-04 | by ( Melia Russell | ) www.businessinsider.com time to read: +3 min

Sam Blond has left Founders Fund after 17 months with the firm. Blond's departure from Founders Fund is the second in as many months after Keith Rabois left. AdvertisementSam Blond, the Founders Fund partner who brought sales expertise from his years at Brex and Zenefits, has left the firm, he announced on X. He's the second partner to depart Founders Fund this year after Keith Rabois made a return to Khosla Ventures in January. In 2022, Founders Fund took part in 84 rounds that totaled about $6.6 billion.

Persons: Sam Blond, he's, Keith Rabois, —, I've, Blond, Forbes, Rabois, Axios Organizations: Fund, Service, Founders Fund, Khosla Ventures, Brex, Institutional Locations: Brex

☆ Money market funds saw record inflows even as stocks continued their climb to fresh highs
▼ + stars: | 2024-03-04 | by ( Michelle Fox | ) www.cnbc.com time to read: +2 min

Total assets in money market funds have hit a new record high, according to the latest data from the Investment Company Institute. The funds, which still have yields above 5%, saw total assets hit $6.06 trillion for the week ended Feb. 28, the firm said . While some on Wall Street think some of the cash in money markets will move into stocks, Crane has said there is no correlation between the two. Instead, money markets are competing with bank deposits, he believes. The annualized seven-day yield on the Crane 100 list of the 100 largest taxable money funds is currently 5.14%.

Persons: Peter Crane, January's, Moody's, Crane, Teresa Ho Organizations: Investment Company Institute, New York Community Bancorp, Crane, New, New York Community, Fitch, JPMorgan, CNBC Locations: New, New York

☆ Activist Investor’s Group Raises Bid for Macy’s
▼ + stars: | 2024-03-03 | by ( Lauren Hirsch | Jordyn Holman | ) www.nytimes.com time to read: +1 min

The activist investor group that is seeking to buy Macy’s increased the pressure on the department store chain on Sunday, raising its offer and disclosing additional details about its financing plans. Arkhouse Management and Brigade Capital Management said in a news release that they were now offering $24 per share, valuing the retailer at $6.6 billion. The new offer is up from the $21 a share they last put forward and a 33.3 percent premium to Macy’s closing share price of at $18.01 on Friday. Arkhouse and Brigade named additional investors they had brought on as equity partners, Fortress Investment Group and One Investment Management. The investor has since nominated nine people to Macy’s board.

Persons: Arkhouse Organizations: Arkhouse Management, Brigade Capital Management, Brigade, Fortress Investment Group, One Investment Management Locations: Macy’s

☆ Investors should tread carefully in March after bitcoin's explosive rally to $60,000
▼ + stars: | 2024-03-03 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +4 min

With bitcoin on a hot streak this past week, investors should brace themselves for a cooling in March. "But cash inflows into spot bitcoin ETFs are accelerating, and that seems to have been overpowering those technical signals." Although Bitcoin traded above $62,000 to end the week, it's realized price was down at the $42,000 level, according to CryptoQuant. CryptoQuant also showed the cost of opening new long positions in the futures market spiked in the recent rally, which historically signals a coming correction in the bitcoin price. Ether, however, has ended the month higher in six of the last eight March's since its inception, with an average gain on the month of 25%.

Persons: Yuya Hasegawa, Hasegawa, Julio Moreno, Bitcoin, it's, bitcoin, CryptoQuant, David Duong, Duong, Michael Bloom Organizations: JPMorgan, CNBC, Federal, New York Community Bancorp Locations: New York

☆ Venture capital firm's plan to buy nonprofit hospital system has Ohio community on edge
▼ + stars: | 2024-03-02 | by ( Ashley Capoot | In | ) www.cnbc.com time to read: +17 min

In late 2022, Harrison joined venture firm General Catalyst, which has backed tech highfliers like Stripe, Snap and Airbnb . This is the first holistic transformation of a health system to a thoughtful combination of digital and in-person care." "It just makes people a little nervous, and it doesn't feel quite aligned with this concept of health care being a human right." To revolutionize how we care for patients, we in health care are doing the same." "This is not like a turnaround, this is not a distressed system," Harrison said.

Persons: Marc Harrison, who's, Astrid Stawiarz, Mark Zuckerberg, Elon Musk, He's, screeds, Harrison, Catalyst, HATCo, Fitch, Ceci Connolly, Connolly, She's, Freddy Krueger, John Bass, Bass, he's, Chris Bischoff, Bischoff, it's, Harrison isn't, Michael Greeley, Greeley, Beaumont, Cliff Deveny, hadn't, Deveny, Ben Sutton, Sutton, Shammas Malik, James Hardy, Hardy, Mayor Malik, Malik, we've, Capital's Greeley, Catalyst's Organizations: Healthy, CNBC, Intermountain Healthcare, Catalyst, Summa Health, Health Assurance Transformation Corporation, Summa Health Medina, Urban Institute, Fitch Ratings, Alliance of Community Health, General Catalyst, HCA Healthcare, University of California Davis Health, Intermountain, Flare Capital Partners, Beaumont Health, Health, Akron, Ideastream Public Media, HATCo Locations: New York City, Silicon Valley, Utah, Ohio, Harrison, PitchBook, U.S, Canada, Israel, Michigan, Beaumont, Akron, Summit County, Akron's

☆ Activist Elliott calls for a big buyback at Mitsui Fudosan — 3 ways the company may create value
▼ + stars: | 2024-03-02 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Business: Mitsui Fudosan is a Japan-based company engaged in the real estate business. Even as a commercial real estate company, Mitsui Fudosan does possess some brand power, which translates to premium pricing power. Mitsui Fudosan is grappling with a low valuation and return on equity in absolute terms and relative to peers. Right now, Mitsui Fudosan has 0.65 times price to adjusted book value (for real estate companies) and the lowest ROE among its peers. There are three things Mitsui Fudosan can do right away to create value for shareholders.

Persons: Elliott, Palliser, ROE, debatably, Dai, Takashi Ueda, Ken Squire Organizations: Mitsui Fudosan, Mitsui Home, Mitsui, Nikkei, Oriental Land Company, Tokyo, Mitsui Fudosan's, Tokyo Stock Exchange, Keisei Rail, Dai Nippon Printing, Dai Nippon, Services, 13D Locations: Japan, COOs, ValueAct, OLC, OLC .

☆ Big-name investors are betting AI gadgets could change the way we interact with tech
▼ + stars: | 2024-03-01 | by ( Dan Defrancesco | ) www.businessinsider.com time to read: +5 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. What's on deck:This story is available exclusively to Business Insider subscribers. The big storyAI (literally) in your pocketTech workers are criticizing Humane's hotly anticipated Ai pin. AdvertisementIn fact, heavy hitters like legendary investor Vinod Khosla believe that AI devices will completely change how we interact with technology. Humane's Ai Pin, which can project text onto users' hands and translate voice messages, didn't get a warm welcome when it launched late last year .

Persons: —, Oompa, I've, Willy Wonka, Elon Musk, Sam Altman, Humane's, Vinod Khosla, Samantha Stokes, Vishal Persaud, Khosla, Ai, didn't, Tim Cook, Salesforce's Marc Benioff, OpenAI's Sam Altman, Franck Robichon, Paul Krugman, shouldn't, we're, Wells, Bank of America's Merrill, Bitcoin, Tyler Le, maven, Alexei Navalny's, Dan DeFrancesco, Hallam Bullock, Jordan Parker Erb, George Glover Organizations: Service, Business, Humane, Khosla Ventures, Rabbit, Bank of America's, Wall, The New York Times, WW, SEC Locations: Franck, Wells Fargo, New York, London

☆ Private credit may offer high yields, but investors should tread carefully. What to know
▼ + stars: | 2024-02-29 | by ( Michelle Fox | ) www.cnbc.com time to read: +8 min

Private credit has become a hot investment on Wall Street as institutional investors seek out alternative investments with attractive dividends. "Investors might consider allocating a portion of their portfolio to private credit, depending on their individual risk tolerance, investment horizon and financial goals." Private credit funds have yields generally in the low-teens, although it can vary, he said. In a February report on U.S. life insurance ratings, Fitch Ratings said, "elevated private credit borrower leverage and a relative deterioration in private credit terms and conditions during more competitive lending environments are adding to pressures in the credit quality of private credit assets." The majority of the portfolio is in direct lending private credit, but a portion is also in publicly-traded securities of larger corporate issuers.

Persons: SoFi, Vivek Paul, Paul, Goldman, Greg Olafson, David Solomon, Fitch, Lisa Kwasnowski, Blackstone, Kwasnowski, Chuck Failla, it's, Failla, Oppenheimer, Mitchel Penn, Penn, Ares Capital, They've Organizations: Street, Franklin BSP Private Credit Fund, CNBC, Wall, BlackRock, Research, Management, UBS, Blackstone Private Credit Fund, Sovereign Financial Group, Securities and Exchange Commission, Owl, Golub, Ares, Sixth, SEC Locations: DBRS Morningstar's

☆ The NFL is gearing up to change team ownership rules in what could be a massive win for Wall Street
▼ + stars: | 2024-02-29 | by ( Tiara White | ) www.businessinsider.com time to read: +9 min

Team owners will meet at the annual league meeting in March to discuss private equity. The investment ownership model is favored in the NBA, MLB and NHL— but not in the NFL. So, what will a rule change mean for institutional investors and their Wall Street brokers, as well as owners and sports fans? Experts also think NFL team owners' "wealth would increase drastically," said Rotthoff— due to the considerable profits they've already made from team valuations in the past decade. Wall Street investment banks could also benefit in their role as advisors to wealthy investors and sports teams, including helping to connect buyers with sellers.

Persons: —, Josh Harris, Mark Patricof, Carrie Potter, Mellody Hobson, Condoleezza Rice, Sir Lewis Hamilton, Kurt Rotthoff, Dwayne Wade, Venus Williams, Eric Thomas, Gil Fried, Rotthoff, Rob Gronkowski, Spencer Platt, Goldman Sachs, Thomson, Taylor Swift, Jamie Squire, Potter, Fried Organizations: NBA, MLB, NHL, NFL, Service, Silicon, Forbes, The, Patricof, Rice, Denver Broncos, Seton Hall, Wall, Kansas City Chiefs, West, Sport Finance, Sports, Group, Wall Street, Chiefs, Dolphins, Getty Locations: The Washington, Crestview, United States, Orlando , Florida, West Florida

☆ AI startup Perplexity is in talks to raise more money at a significantly higher valuation just months after its last round
▼ + stars: | 2024-02-29 | by ( Rebecca Torrence | Melia Russell | ) www.businessinsider.com time to read: +4 min

download the appSign up to get the inside scoop on today’s biggest stories in markets, tech, and business — delivered daily. Read previewOnly months after buzzy AI search-engine startup Perplexity AI raised its last round of funding, the company is yet again raising additional funds, as investors clamor to back tech's next big generative AI startup. This story is available exclusively to Business Insider subscribers. Perplexity is raising this additional money at a significantly higher valuation cap than its previous pricing of $520 million, according to two people with direct knowledge. A spokesperson told Business Insider that the details of the deal were incorrect but did not clarify when asked for further information.

Persons: —, clamor, Jeff Bezos, Perplexity, OpenAI's ChatGPT, Google's Bard, Aravind Srinivas, It's, Elad Gil, Nat Friedman, Fred Wilson, aren't Organizations: Service, Google, Business, Institutional Venture Partners, New Enterprise Associates, Bessemer Venture Partners, Nvidia Locations: OpenAI

☆ The fastest-growing hedge funds are now investing conglomerates. That's changing how investors judge the biggest firms.
▼ + stars: | 2024-02-29 | by ( Bradley Saacks | ) www.businessinsider.com time to read: +7 min

The rise in multi-manager hedge funds over the past five years has forced allocators to create a separate due diligence model for the fastest-growing segment in the industry. Even an executive at a midsized multi-manager admits their firm and its peers are "more like corporations than hedge funds." AdvertisementA new type of hedge-fund kingsFounders were once simply the best traders and money-makers, spinning out of banks' trading desks and larger hedge funds. Bobby Jain, the former Millennium executive starting his own multi-billion hedge fund, hasn't traded in decades but was a part of the leadership team at one of the biggest hedge funds in the world. Jobs at multi-manager platforms are roughly a quarter of the industry's overall roles, despite these funds holding roughly 14% of the assets.

Persons: —, allocators, Griffin's, Izzy Englander's, Jack Springate, Allen Cheng, Cheng, Bobby Jain, hasn't, Michael Gelband, Dmitry Balyasny, Steve Cohen, Izzy Englander, Ajay, Kevin Lyons, Lyons, Springate Organizations: Service, Business, Fortune, Goldman Sachs Asset Management, Aon, Millennium, Treasury Locations: Schonfeld's

☆ Ark Invest says this 'optimal' bitcoin strategy will yield better returns
▼ + stars: | 2024-02-28 | by ( Weizhen Tan | ) www.cnbc.com time to read: +3 min

Bitcoin prices have rebounded since 2023, recovering from steep declines in the couple of years before. On Tuesday, bitcoin prices reached a two-year high of over $56,000. Ark Invest's chief futurist, Brett Winton, believes that a "responsible allocation to innovation generally is really, really critical." On average, Ark Invest's research shows that the "optimal" allocation to maximize risk-adjusted returns — on a five-year time horizon — would be 4.8% on average since 2015. The breakdown of Ark Innovation ETF's tech investments is as follows: cryptocurrencies make up 6.9% of it, and digital wallets 8.8%, among other tech themes.

Persons: Ark, Brett Winton, CNBC's, Winton, —, bitcoin's Organizations: Invest, Innovation, Ark Invest Locations: bitcoin, U.S, Europe

☆ Bitcoin jumps above $60,000 for the first time since November 2021
▼ + stars: | 2024-02-28 | by ( Tanaya Macheel | ) www.cnbc.com time to read: +1 min

The price of the flagship cryptocurrency was last higher by 6% at $60,391.10, according to Coin Metrics. Bitcoin has soared more than 18% this week alone, after a week-long pause of this year's rally. "The economics of bitcoin dictate that it should continue to drive higher." Specifically, the halving, an event mandated in the Bitcoin code, reduces the bitcoin mining reward by half in order to limit the supply. "Institutional capital is still getting up to speed with bitcoin ETFs – platform approvals, advisor education, client education – I expect a lot more demand is still under the surface and yet to be seen."

Persons: cryptocurrency, It's, Bitcoin, We've, it's, Joel Kruger, Ryan Rasmussen, Rasmussen Organizations: Metrics, LMAX, Bitwise Asset

☆ Trump warns the market will crash if he loses. Investors just laugh
▼ + stars: | 2024-02-27 | by ( Matt Egan | ) edition.cnn.com time to read: +7 min

New York CNN —Former President Donald Trump is once again warning the stock market is doomed unless voters return him to the White House. He went on to say a loss for him would spark “the largest stock market crash we’ve ever had.”But there is no evidence to support that claim. “This is just an encore presentation of what he said last time,” said Art Hogan, chief market strategist at B. Riley Financial. In fact, the stock market has generated higher annual returns when Democrats are in power. It’s true that Trump’s surprise victory in November 2016 helped spark an impressive rally in the stock market as investors bet on deregulation, tax cuts and infrastructure.

Persons: Donald Trump, Trump, you’re, ” Trump, ”, Brian Gardner, “ There’s, ” David Kelly, “, Kelly, Joe Biden, Biden, Hogan, ” Sam Stovall, he’s, “ It’s, Dow, ” Kelly, Gardner, James Singer, CNN it’s “, ” Singer, Jerome Powell —, Powell, Jerome Powell, Greg Valliere, Trump’s Organizations: New, New York CNN, CNN, White, Trump, Asset Management, Dow, Riley, CFRA Research, GOP, “, Nasdaq, Federal Reserve, JPMorgan, Biden, Republicans, Democrat, Research, —, Republican, AGF Investments Locations: New York, Washington, Trump, China

☆ Unilever and Dell have shut down some sustainability marketing initiatives as big corporations embrace 'green hushing'
▼ + stars: | 2024-02-27 | by ( Lara O'Reilly | ) www.businessinsider.com time to read: +7 min

Late last month, computing giant Dell cut part of its marketing team that focused on sustainability and other ESG-related marketing roles, Business Insider has learned. This story is available exclusively to Business Insider subscribers. AdvertisementThis is feeding into a growing trend of "green hushing," where companies stop publicizing their sustainability efforts due to concerns around regulatory scrutiny or a consumer backlash, experts say. Other sustainability agencies have been absorbed into wider offerings, R3 EVP of delivery Sarah Tan told Business Insider. Leo Rayman, head of the sustainability consultancy and venture studio Eden Lab, said that the green hushing phenomenon could suggest a sign of maturity in the space.

Persons: we're, Hein Schumacher, hushing, Pimco, , Harriet Kingaby, Sarah Tan, Kingaby, Bud, Bud Light, influencer Dylan Mulvaney, Guy Parker, — that'll, Parker, Leo Rayman, Rayman, Townsend Organizations: Dell, Business, Unilever, JPMorgan, State, ACT Climate Labs, Media, Advertising Network, Brands, Green Guides, Standards Authority, ASA, BMW, Shell, Etihad Airways, Competition, Markets Authority, Eden, Sustainability

☆ DEI Programs Are Under Attack. Here Is How to Fix Them, Chief Diversity Officer.
▼ + stars: | 2024-02-27 | by ( Steve Pemberton | ) www.businessinsider.com time to read: +13 min

In 2007, I became Monster.com's first chief diversity officer, then Walgreens' in 2012. Most recently I served as chief human-resources officer at Workhuman. When done right, DEI programs not only give companies a competitive edge but also can be the very means of mending a broken America. Unsurprisingly, the role of chief diversity officer became more popular during this time as CEOs and boards recognized that they needed a dedicated team with resources to prevent similar class-action settlements and public-relations disasters. Prior to serving as chief people officer for Workhuman, he was chief diversity officer for Walgreens and Monster.com.

Persons: unschooled, Monster.com's, meritocracy, Kennedy, Johnson, Nixon, ERGs, Charles Walgreen, Jim Crow, Rep, Robert B, Elliott of, Steve Pemberton Organizations: Walgreens, Revelio Labs, America, Commission, Texaco, Denny's, Nextel, Harvard, The Lighthouse Academy Locations: America, Elliott of South Carolina

☆ Bitcoin firm MicroStrategy pops 27% in two days as company's crypto stake hits $11 billion
▼ + stars: | 2024-02-27 | by ( Mackenzie Sigalos | ) www.cnbc.com time to read: +4 min

In this article MSTR Follow your favorite stocks CREATE FREE ACCOUNTMicroStrategy CEO Michael Saylor speaks at the Bitcoin 2021 Convention, a crypto-currency conference held at the Mana Convention Center in Wynwood on June 04, 2021 in Miami, Florida. MicroStrategy, along with its subsidiaries, now owns about 193,000 bitcoins worth $11 billion. watch nowInvestors have been increasingly bullish on the bitcoin trade following the SEC's approval of multiple spot bitcoin exchange-traded funds last month. "Institutional capital is still getting up to speed with bitcoin ETFs. For example, MicroStrategy has the ability to acquire bitcoin using proceeds from debt and equity issuances, the firm said.

Persons: Michael Saylor, Joe Raedle, MicroStategy, Andrew King, bitcoin, Bitcoin, Ryan Rasmussen, —, MicroStrategy, Cowen, CNBC's Dylan Butts, Ari Levy Organizations: Mana Convention, Getty, Bitwise Asset Management, Research, Benchmark Locations: Wynwood, Miami , Florida, bitcoin, Bitcoin

☆ Standard Chartered suspends key outbound investment channel for Chinese clients
▼ + stars: | 2024-02-27 | by ( ) www.cnbc.com time to read: 1 min

Standard Chartered has suspended new subscriptions by its clients in China into offshore products via a quota-based channel since last week, the Asia-focused bank said in a statement to Reuters. The London-headquartered bank cited "commercial reasons" as its explanation for the suspension of new investments under the qualified domestic institutional investor (QDII) program. It did not elaborate. StanChart's move comes amid Beijing's efforts to stem capital outflows as weaker yuan and a slowing economy have driven savers to move assets offshore. Launched in 2006, QDII is one of the few outbound investment channels qualified domestic and foreign institutions use to help Chinese wealth and corporate clients invest in offshore funds, bonds and other structured products.

Persons: QDII Organizations: Chartered, Reuters Locations: China, Asia, London

☆ An abrupt exit at a Goldman Sachs-backed crypto bank spotlights the industry's tug-of-war with regulators
▼ + stars: | 2024-02-26 | by ( Rebecca Ungarino | ) www.businessinsider.com time to read: +13 min

Read previewWhen the chief executive of cryptocurrency startup Anchorage Digital posted a message in the company's "announcements" Slack channel in late November about an executive's departure, employees started buzzing. Just over a year after it received the charter, the OCC issued a consent order against Anchorage in April 2022. Regulators are aggressively scrutinizing crypto players and prioritizing monitoring crypto compliance. Regulators' viewThe OCC is now led by Michael Hsu, the former Federal Reserve regulator and self-described crypto skeptic who has viewed crypto companies' regulatory compliance in some areas as inadequate. A crypto bank would face risks in safeguarding digital assets in its custody, maintaining appropriate hedges in crypto-lending, and adhering to capital requirements specific to crypto assets, said Kim, who studies crypto and blockchain technology.

Persons: —, Georgia Quinn, Nathan McCauley's, McCauley, Goldman Sachs, Andreessen Horowitz, Quinn, Brian Brooks, CoinDesk, Oliver Wyman, FTI, Brooks, Michael Hsu, Hsu, Evelyn Hockstein, Mark duBose, Seoyoung Kim, University's, Kim, Diogo Mónica, Axel Springer, Mark McCombe, Max Levchin, BNY, Seyfarth Shaw, Ellenoff Grossman, it's Organizations: Service, Anchorage, Business, Citadel Securities, Apollo Global Management, Visa, OCC, Regulators, Securities, Exchange, IBM, KPMG, Anchorage Digital Bank National Association, Federal Reserve, Reuters, Business Insider, Santander Bank, University's Leavey School of Business, KKR, BlackRock, BNY Mellon Locations: Anchorage, United States, Santa, San Francisco, Portugal

☆ Here’s how Reddit users can participate in the company’s IPO
▼ + stars: | 2024-02-26 | by ( Clare Duffy | ) edition.cnn.com time to read: +4 min

The IPO direct share program will be open to adult US Reddit users with accounts created on or before January 1, 2024, who are not current or former Reddit employees. Reddit has not yet set the price at which shares will be listed in its IPO. Reddit is set to be the first major social media company to IPO in years. While somewhat unusual, offering users the opportunity to invest in its IPO makes sense for Reddit, a platform with a community of users famously — some might say infamously — interested in investing. “As with any investment opportunity, you should make an individual decision based on your own personal circumstances and risk tolerance,” Reddit said in an email inviting eligible users to participate in the IPO.

Persons: New York CNN —, ” Reddit, what’s, Reddit, they’ve Organizations: New, New York CNN, New York Stock Exchange, week’s Securities, Exchange Commission, GameStop, Wall Street Locations: New York

☆ Why India’s economy under Modi offers a real alternative to China
▼ + stars: | 2024-02-26 | by ( Diksha Madhok | ) edition.cnn.com time to read: +9 min

The market value of companies listed on India’s exchanges crossed $4 trillion in late November. But the country is stuck in recession and recently lost its position as the world’s third biggest economy to Germany. While interest in the world’s fifth largest economy is rising, the lofty prices of India’s stocks are scaring some international investors away. According to Macquarie, retail investors alone own 9% of India’s equity market value versus foreign investors at slightly under 20%. China “has a few too many companies which are $100 and $200 billion plus [in value],” Mittal said.

Persons: Peeyush Mittal, there’s, ”, Mittal, They’ve, Narendra Modi, Indranil Mukherjee, Jefferies, “, MSCI, Aditya Suresh, Modi’s, Modi, there’ll, ” Suresh, shoring, Hubert de Barochez, Elon Musk, India “, ” Musk, Suresh, Satish Babu, China “, ” Mittal, Priyanka Agnihotri, Nirmala Sitharaman Organizations: New, New Delhi CNN —, Matthews Asia, Getty, Macquarie Capital, Bharatiya Janata Party, Monetary Fund, Jefferies, Capital Economics, Apple, Foxconn, ”, Workers, Chennai Metro Rail, Advisory, Indian Locations: New Delhi, Jaipur, San Francisco, India, China, Shanghai, Shenzhen, Hong Kong, Japan, Germany, Beijing, Washington, “ India, Macquarie, Chennai, Baltimore

☆ South Korea unveils measures aimed at boosting stock markets, tackling 'Korea discount'
▼ + stars: | 2024-02-26 | by ( Shreyashi Sanyal | ) www.cnbc.com time to read: +1 min

A man leads a bull during a ceremony celebrating the New Year's opening of the South Korea stock market at the Korea Exchange in Seoul on January 2, 2023. The announcement by the FSC highlighted steps that Korean authorities are taking to boost valuations of stock markets in Asia's fourth-largest economy. The country's stock markets are often considered undervalued by analysts, who refer to the phenomenon as the "Korea discount." The FSC said it will also introduce the "Korea Value-up Index" for institutional investors, including pension funds. "ETFs that track the Korea Value-up index will also be listed to facilitate retail investors' access to these companies," according to the statement.

Organizations: South, Korea Exchange, Financial, Commission, FSC, Nikkei Locations: South Korea, Korea, Seoul, Asia's, Tokyo

☆ Starboard nominates directors to Alight’s board. A plan to improve margins could be on the horizon
▼ + stars: | 2024-02-24 | by ( Kenneth Squire | ) www.cnbc.com time to read: +7 min

Activist Commentary: Starboard is a very successful activist investor and has extensive experience helping companies focus on operational efficiency and margin improvement. Additionally, Starboard has extensive experience helping portfolio companies improve margins from a board level and adding one or two of their nominees to the board could expedite this. CEO Issue: Alight's CEO Stephan Scholl is a talented technologist and software expert, but not an experienced operator of a benefits administration company. Like the experienced activist Starboard is, the firm wanted to preserve its options as it speaks privately with Alight. Shareholders would certainly benefit from the addition of two or three Starboard directors to the board.

Persons: Keith D, Dorsey, Matthew C, Levin, Gavin T, Molinelli, Foley Trasimene, William P, Foley, Stephan Scholl, William Foley, Coretha, Denise Williams, Ken Squire Organizations: ExCo, CR Consulting Alliance, FIS, 13D Locations: Boyden, SPACs

☆ Reddit has never turned a profit in nearly 20 years, but it just filed to go public anyway
▼ + stars: | 2024-02-23 | by ( Clare Duffy | John Towfighi | ) edition.cnn.com time to read: +6 min

The move would make Reddit the first major social media company to go public since Snapchat in 2017. In its 18 years as an online social hub, Reddit has seen enormous growth, occasional controversy and even market-shifting stunts. Reddit users often post anonymously in these forums, discussing everything from memes to major news events. Steve Huffman, CEO of Reddit attends Variety & Reddit An Evening With Future Makers at Wynn Las Vegas on January 05, 2023 in Las Vegas, Nevada. Still, the incident helped draw attention to the power of Reddit communities.

Persons: New York CNN — Reddit, Reddit, ”, Steve Huffman, ” Huffman, Condé Nast, Alexis Ohanian, Huffman, Sam Altman, Ohanian, TheFacebook, Greg Doherty, ” Reddit Organizations: New, New York CNN, San Francisco, New York Stock Exchange, Securities and Exchange Commission, Advance, University of Virginia, Facebook, YouTube, Twitter, Wynn Las, Variety, GameStop, Google Locations: New York, San, Wynn Las Vegas, Las Vegas , Nevada

☆ Reddit Warns That Meme Stock Investors Could Come for Its Own Stock
▼ + stars: | 2024-02-22 | by ( Meghan Morris | ) www.businessinsider.com time to read: +2 min

As Reddit prepares to go public, the social-media company issued an unusual warning to investors. AdvertisementGameStop, AMC, and other companies saw huge swings in their stock prices starting in 2021, thanks to chatter on social-media platform Reddit. In lawyerly language, Reddit wrote that individual ("retail") investors may home in on the company's stock. AdvertisementReddit S-1 cautions that retail investors could make the stock volatile Reddit S-1 screenshotReddit is offering its most frequent users a chance to buy into the IPO alongside institutional investors. Reddit users, meanwhile, gather on WallStreetBets (mentioned five times in the S-1) and other subreddits, where many posters are bearish about the company's upcoming IPO.

Persons: Reddit, Redditors, — Organizations: GameStop, Service, AMC, Securities and Exchange Commission

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