Widely followed investor Cathie Wood remains a holder of Robinhood (HOOD) even as the threat of a clampdown on payment for order flow by regulators looms as a key risk.  The founder, CEO and CIO of Ark Invest said in an exclusive interview on Yahoo Finance Live that Robinhood is currently a 1% holding for her firm.  Wood sent the market for Robinhood’s stock into a tizzy in early August after she revealed purchases of the trading platform’s stock after a disappointing IPO in late July…. Source link

President Biden now has his very own pandemic: The one driven by the Delta variant of the coronavirus. Hiring retreated in August, largely because the highly contagious Delta strain is now ravaging parts of the country with tenacity rivaling the original coronavirus outbreak last year. Employers created just 235,000 new jobs in August, barely one-third of what economists were expecting. The average for the three prior months was 876,000 new jobs per month. Job growth in August was the slowest… Source link

Cathie Wood is pouring millions into these China tech stocks — time to follow? It’s been a whiplash 2021 for Chinese tech stocks. The Nasdaq Golden Dragon China Index, which tracks 98 of the biggest Chinese companies listed in the U.S., hit a record high of 20,688 on Feb. 12. But the index has been walloped since then on concerns that China’s tech sector could soon be facing greater scrutiny and tighter regulations at the hands of the Chinese government. Cathie Wood, founder of Ark… Source link

Reddit, the social media platform synonymous with retail traders involved in the GameStop (GME) frenzy, could reportedly go public early next year. The company is looking to hire investment bankers and lawyers to prepare for an IPO in New York, according to a Reuters report. Some users on the Reddit forum WallStreetBets are concerned with how going public will impact the 16-year-old platform. WallStreetBets exploded in popularity during the GameStop frenzy and now has more han 10 million… Source link

The August jobs report added just a third of the jobs expected, changing the expectations for the Fed’s future moves. Economists agree that the rising specter of the Delta variant over the economy is responsible for the slowdown in jobs numbers. Though demand for labor is still strong, the changes in the economy’s trajectory make it “unlikely” the Fed will announce a taper at the September meeting, Bank of America analysts wrote in a note Friday. A taper is when the Fed slows down its… Source link

The worst result, after buying shares in a company (assuming no leverage), would be if you lose all the money you put in. But when you pick a company that is really flourishing, you can make more than 100%. For instance, the price of Yandex N.V. (NASDAQ:YNDX) stock is up an impressive 254% over the last five years. And in the last month, the share price has gained 15%. We note that Yandex reported its financial results recently; luckily, you can catch up on the latest revenue and profit… Source link

With the White House aiming for a Sept. 20 start date for COVID-19 booster shots for adults in the U.S., the countdown has begun for the U.S. Food and Drug Administration (FDA) to review booster data from vaccine companies.  Moderna (MRNA), meanwhile, is focused on halving its booster shot, from the current 100 microgram dose. The company submitted to the FDA an initial round of data to support the half dose this week. According to Moderna officials, the lower dosage has production benefits… Source link

The August jobs report out just before Labor Day missed big. The economy added just 235,000 new payrolls, dramatically falling short of expectations of 733,000 — by a third. The unemployment rate stayed the same at 5.4%. So why did it miss so big? Expectations underestimate the rising number of COVID cases. It sounds obvious in retrospect, but this month’s data encompasses the Delta variant’s economic impact, particularly on the leisure and hospitality sector. After adding 415,000 jobs in… Source link

In fact, the distribution payments were a centerpiece of last October’s Department of Justice antitrust lawsuit against Google, for good reason. It makes it nearly impossible for a smaller startup to get a foothold in the market where Google has a monopoly-type hold. According to StatCounter, the internet giant has 92% of the global search engine industry. And with the payouts only inclined to soar further, I don’t see how this blatantly anti-competitive practice can stand in court. Source link

Apple CEO Tim Cook announces the new iPhone 11 Pro as he delivers the keynote address during a special event on September 10, 2019 in the Steve Jobs Theater on Apple’s Cupertino, California campus. (Photo by Justin Sullivan/Getty Images) Apple (AAPL) is expected to launch its new iPhone, likely called the iPhone 13, later this month. Like football, the autumnal equinox, and pumpkin spice lattes, it’s all but a guarantee this fall. So what can you expect from Apple’s next-generation… Source link