Stocks & Equities
PayPal is exploring a possible stock-trading platform.
After rolling out the ability to trade cryptocurrencies last year, the payments giant has been exploring ways to let users trade individual stocks, according to two sources familiar with the plans.
The San Jose, California-based company recently hired brokerage industry veteran Rich Hagen as part of the move, according to one of the sources. After leaving Ally Invest, Hagen is now the CEO of a previously unreported division of PayPal called Invest at PayPal, according to his LinkedIn page. Hagen was the co-founder of online brokerage TradeKing, which was bought by Ally Invest…read more.
Prime Minister Justin Trudeau did the worst job with housing in the history of leaders. No, it was definitely Prime Minister Stephen Harper that oversaw the worst… No… this goes back to… Brian Mulroney? Uh, that was 30 years ago, but whatever.
Ever since Canada’s election kicked off, everyone’s been arguing about housing. More specifically, whether the current Prime Minister (PM) dropped the ball on affordability. We hate data-less arguments, so we thought we would crunch the numbers to provide some gas to pour on those dumpster fire arguments. Consider it our little gift to the world.
The truth is PM Justin Trudeau has overseen one of the fastest declines in affordability. However, he didn’t oversee the worst drop in the past 40 years — he was just close to it. Let’s take a look at who did the worst…read more.
Support.com is a relatively unknown software company, considering how high it must rank in Google search results. But it’s under-the-radar no more: Amateur traders are gassing it up like friends at a bridal fitting.
Shares of Support.com skyrocketed as much as 203% on Friday, before closing the day up 34%.
Why Support.com? For the same reasons that traders doubled down on AMC and GameStop this winter: to profit off of professional investors’ short bets.
Last month, Wall Street shorted Support.com’s stock, betting on the company’s stock to go down. Amateur investors bet against their bets, attempting a “short squeeze” that can accelerate a stock’s surge like throwing Mentos into Diet Coke…read more.
Crude oil prices could rise further if OPEC+ stops adding barrels to global supply, which is a possibility after the cartel’s next meeting, according to the Kuwaiti oil minister.
“The markets are slowing. Since COVID-19 has begun its fourth wave in some areas, we must be careful and reconsider this increase. There may be a halt to the 400,000 (bpd) increase,” said Mohammad Abdulatif al-Fares, as quoted by Reuters.
OPEC+ had agreed to boost oil production by 400,000 bpd every month beginning August until the group’s combined output reached pre-agreement levels towards the end of next year. But now that demand concerns are once again coming to the fore, OPEC+ is signaling that it is always ready to change tack…read more.
Ever since John Paulson bet against the U.S. housing market more than a decade ago, people keep asking him about his next big trade.
The billionaire hasn’t found anything to rival his massive short, but it’s hard to top the $20 billion that Paulson made for himself and investors when subprime mortgage bonds collapsed and ignited the worst financial crisis since the Great Depression.
Now though, more than 14 years after CDOs and credit-default swaps dominated everyone’s attention, Paulson is again seeing signs of excessive speculation.
Paulson, 65, is increasingly concerned about rising prices, he said in an episode of “Bloomberg Wealth with David Rubenstein.” The rapidly expanding money supply could push inflation rates well above current expectations, he said, and gold, which he’s backed for years, is primed for its moment.
His harshest words are for the hottest investments of this era. SPACs, on average, will be a losing proposition, while cryptocurrencies are a bubble that will “eventually prove to be worthless.”…read more.
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