GameStop rises on Wall St open as FCA issues trading warning January 29, 2021 GameStop stock was up more than 100 per cent as US markets opened today, as popular trading platform Robinhood eased restrictions on buying into the stock. The army of small investors behind this week’s dramatic squeeze on Wall Street hedge funds returned to drive shares in GameStop and other hot companies higher on Friday as online broker [...]
Dr Martens valued at more than £3.7bn in London IPO January 29, 2021 British bootmaker Dr Martens started its London IPO in style on Friday, attracting bumper demand in a sale valuing the company at £3.7bn. Dr Martens’ shares were up 19 per cent in their market debut after the company priced the deal at 370p a share, raising nearly £1.3bn. Known for its chunky boots, Dr Martens [...]
FTSE 100 closes lower but US stocks rebound from slump and brush off dire data January 28, 2021 FTSE 100 closes lower but US stocks rebound
Crypto AM shines its Spotlight on BitcoinPoint.com January 28, 2021 With the largest ATM network in the UK, innovative ‘on-ramp’ solutions to instantly buy and ‘off-ramp’ to sell Bitcoin, BitcoinPoint.com brings cryptos closer to Mass Adoption, with the vision of bringing financial inclusion to the unbanked and the non-tech-savvy. 16,000 ATMs Bitcoin sales from cash withdrawals have reached an unprecedented scale in the UK, as [...]
Pearson and Cineworld shares jump amid ‘manic’ Reddit short-selling feud January 27, 2021 Shares in Pearson and Cineworld had remained buoyed by London close today, having sparked speculation of a major short squeeze fuelled by Reddit day traders. Education giant Pearson led the FTSE 100 risers, with shares up almost 12 per cent, while Cineworld was trading 12.5 per cent higher. By the close Pearson was up nearly [...]
FTSE 100 dips as sterling rallies and investors await big tech earnings January 27, 2021 The FTSE 100 fell on Wednesday as sterling rallied amid US stimulus speculation and investors eyed a busy day of tech earnings on Wall Street. London’s blue-chip index is down 2.2 per cent to 6,539 points while the more domestically-focused FTSE 250 was trading flat. Boris Johnson confirmed the third lockdown would continue until 8 [...]
Melvin Capital closes Gamestop short position amid Reddit feud January 27, 2021 The hedge fund targeted by Reddit investors Melvin Capital reportedly closed out its short position in Gamestop on Tuesday. The bricks-and-mortar retailer was targeted by an army of Reddit investors from the forum “Wall Street Bets” which boasts more than 2m subscribers. Manager of the fund Gabe Plotkin told CNBC it had closed out its [...]
Amazon halts alcohol sales in Northern Ireland following new Brexit customs rules January 27, 2021 Online retail giant Amazon has halted sales of wines, beers and spirits in Northern Ireland as it prepares to de-list more products under new Brexit customs rules. The company is concerned that excise duty will now have to be paid twice on alcohol shipments sent from British mainland across the Irish Sea. Amazon suspended orders [...]
Are any stock markets cheap going into 2021? January 27, 2021 Where is the value in stock markets today? This is a difficult question to wrestle with. At face value, the bad news is that everywhere looks to be at nosebleed-red levels of expensiveness. Of the 25 measures in our regular stock market valuation grid below (five markets and five measures for each), 16 are more [...]
New Skyscraper approved for City of London January 26, 2021 A new 30-storey skyscraper has been approved on 55 Gracechurch Street in the centre of the City of London. The new building, which the City of London Corporation has granted planning permissions for, will be located between Monument station and Leadenhall Market. It will include social and breakout zones, and the building’s floorplan will offer [...]