Yahoo News

WeWork shares made their public debut on Thursday, marking a milestone for the shared workspace company after a failed initial public offering two years ago.  WeWork’s stock closed at $11.78 per share in its first day of trading on the New York Stock Exchange under the ticker “WE.” The listing came following a merger with the special purpose acquisition company BowX Acquisition Corporation. Shares of BowX had closed at $10.38 apiece on Wednesday.  The deal provided WeWork with gross cash… Source link

Tesla’s (TSLA) record profits for the fourth quarter are sending shares toward record highs. The next catalyst to take the stock up could be the electric vehicle giant’s autonomous program, Oppenheimer analyst Colin Rusch told Yahoo Finance Live. “Valuation is pretty substantial for the company, and it’s really predicated in our view, around their ability to deliver on the autonomous program,” he said. “We think the EV program where they’ve done a tremendous job and are continuing to make… Source link

Huh?! That was the general first hot take on the news that crossed the wires Wednesday afternoon that PayPal was exploring a deal to buy Pinterest. It was a logical initial reaction as PayPal is a payments platform that happens to own Venmo and is dabbling in crypto. And Pinterest lets you lay out your dream meal on a digital vision board.  But now that the news has sunk in, some on Wall Street are starting to see some merit to the deal even if it took 10 hours.  “We see technology companies… Source link

(Bloomberg) — Just days after launch, the first U.S. Bitcoin futures exchange-traded fund risks becoming too popular for its own good. Most Read from Bloomberg The Proshares Bitcoin Strategy ETF (ticker BITO) is already on track to breach a limit on the number of futures contracts it is permitted to hold by the Chicago Mercantile Exchange, according to data compiled by Bloomberg. After two days trading BITO owns nearly 1,900 contracts for October, and CME rules cap the number of front-month… Source link

The Federal Reserve on Thursday said it will tighten its ethics rules concerning personal finances among its most senior officials, the latest development in a trading scandal that has led to the resignation of two policymakers. The central bank said it has introduced a “broad set of new rules” that restricts any active trading and prohibits the purchase of any individual securities (i.e. stocks, bonds, or derivatives). The new restrictions effectively only allow purchases of diversified… Source link

Investors are chowing down on shares of newly minted publicly traded hot dog chain Portillo’s.  Shares of Portillo’s (PTLO) — a Chicago-founded outfit with a cult-like following across nine states — exploded more than 50% as investors ate up the stock on its first day of trading on Thursday.  “While we are a 58-year-old company, we are still infants when it comes to our growth inflection point,” Portillo’s CEO Michael Osanloo said on Yahoo Finance Live. Osanloo isn’t kidding when he said… Source link

Shares of Digital World Acquisition Corp (DWAC), the special purpose acquisition company which will merge with former President Trump’s social media company soared more than 270% on Thursday. Trading was briefly halted for volatility as retail investors piled on the stock.  Digital World Acquisition is one of the top trending tickers on Yahoo Finance. It’s also the #1 stock on Fidelity’s orders by retail customers, behind Tesla (TSLA). It is also the most mentioned ticker on Stockwits in the… Source link

(Bloomberg) — Oil slid by the most since August, falling from overbought territory amid concerns around global economic growth. Most Read from Bloomberg Futures in New York declined as much as 3.2% on Thursday after holding at the highest since 2014 this week. Technical indicators have signaled oil has been due for a pullback since earlier this month. Meanwhile, the resurgence of lockdowns in Eastern Europe and Russia due to rising coronavirus cases are threatening the global economic… Source link

Tesla’s first quarterly earnings call on Wednesday night without CEO Elon Musk (by his own design) was as boring as watching a Pinto head down a quarter mile track for time.  But Wall Street pros say that the lack of Musk’s presence didn’t really matter, the more important thing is that Tesla (TSLA) continues to squeeze out more profits from each vehicle it makes.  “Tesla reported particularly strong 3Q21 operating performance, delivering its highest auto gross margins since Model 3 was… Source link

Bitcoin (BTC-USD) smashed its previous all-time high of just under $65,000 on Wednesday — just a day after the launch of ProShares’ Bitcoin Strategy ETF (BITO) on Tuesday, Oct. 19. In light of these developments surrounding bitcoin, Grayscale CEO Michael Sonnenshein believes that investment in crypto shows no signs of stopping. “Well, the asset class is here to stay, and investors have a general appreciation of that. Investing in crypto is now something thematic, right?” Sonnenshein… Source link