If Robinhood got one thing spot on, it s that free sells.
Prior to setting off a stock market firestorm last week, investors in Robinhood, the Menlo Park, California-based trading platform, were only too happy to keep fueling its growth. Now they have no choice.
Robinhood faced crippling cash demands brought on by a Reddit subgroup named WallStreetBets, which was driving up the stock price of companies, including GameStop and AMC, that had been targeted by well-known short sellers. The stated goal: squeeze the shorts. The ensuing volume of orders pushed Robinhood into tricky territory with its cash position, when the clearinghouse that helps the firm process and settle trades asked the company to put up more capital to meet margin requirements. Robinhood responded by restricting trading on 13 stocks on Thursday, infuriating the WallStreetBets investors and sending prices on those stocks down.
12 Biggest Chinese Software Companies
The Chinese economy has seen astounding growth over the last few decades. With the world’s second-largest economy and the world’s largest mobile payment penetration, China has become a global technology leader, and many global companies are assessing the country’s present and future outlook. China is home to some of the largest software companies in the world, such as Huawei, Alibaba, Baidu, Tencent, and Xiaomi. The country’s technological innovation has been an advantage for it to be home to huge investments in AI, 5G, self-driving cars, robotics, electric vehicles, and even missions to Mars. Check out the top 10 robotics and artificial intelligence stocks to buy in our article here.
Investors who missed the rally may wonder if they should chase up Airbnb s soaring stock price. But first, they need to understand why Airbnb is getting so much love.
Image source: Getty Images.
Alongside
Uber, Airbnb is seen as the poster child of the sharing economy. It runs a software platform connecting hosts (people who own homes) and users (those looking to stay in a particular area). This highly capital-efficient business model is one of its biggest merits.
By turning unused bedrooms into an alternative to hotel accommodations, Airbnb has made travel a less expensive affair. In the process, it has also unlocked a valuable source of extra income for homeowners. Since Airbnb was founded in 2008, hosts have earned over $110 billion through the platform.
Swedish mobile phone directory and caller identification service Truecaller has hired a chief financial officer as it plans to go public as early as the end of this year, two sources familiar with the matter said.