GameStop Corp. surged 13 per cent Monday, its second double-digit rally in three days. AMC Entertainment Holdings Inc. closed 7.5 per cent higher, building on last weeks 36 per cent jump. A basket of stocks caught up in Januarys Reddit-fueled meme-stock frenzy rose 5.6 per cent for its best performance since late March.
This Startup Is Building a Chip to Save Traders Vital Microseconds South Korea-based Rebellions aims to build a chip that runs AI more efficiently to speed up high-frequency trades.
Bloomberg | Apr 14, 2021
Hooyeon Kim and Whanwoong Choi (Bloomberg) In the unfathomably fast realm of high-frequency trading, a South Korean startup’s plan to build a microchip that speeds markets up by a few microseconds is bound to get some attention.
The company, Rebellions Inc., was set up six months ago in Seoul by Park Sunghyun, who used to work as a quant developer at Morgan Stanley in New York, with two partners. The chip they’re developing aims to run artificial intelligence more efficiently, which could cut precious millionths of a second off the reaction times of automatic-trading machines.
Tapping Day-Trader Cash, ETF Launches Go From Risky to Roaring According to a new study, financial advisers and fund managers are looking for a new ETF to have least $100 million in assets before investing in it.
Claire Ballentine | Mar 16, 2021
(Bloomberg) It wasn’t long ago that the odds of successfully launching an ETF were stacked heavily against the little guy. To survive, a fund needed scale, early cash and wide distribution, and that gave larger issuers a built-in advantage.
The retail investing revolution may be changing all that.
Suddenly, newcomers are luring big chunks of cash from the outset with exchange-traded funds built to surf the trends beloved by the day-trading masses.
As governments ponder how best to extract more tax revenue from the wealthy and pay the bill for tackling Covid, the idea of a levy on financial trades is having a moment. Hong Kong increased its financial transaction tax in February, while jurisdictions in the U.S. and Europe debate a similar move. Watching warily are those who would stand to lose out, including market makers and high-frequency traders who make tiny margins from trading millions of positions a day.
Rise of the retail army: the amateur traders transforming markets
Once dismissed as a quirky sideshow, the growth of retail trading is forcing mainstream investors to take note. Many in the industry point out that the market-moving power of the amateurs is more than a fleeting fad focused on a narrow set of stocks.
Katie Martin and Robin Wigglesworth
Mar 10, 2021 – 11.15am
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London/Oslo | When newcomers discover Robinhood, and decide to use the zeitgeist US trading platform to punt around in stocks, many of them have questions. Chief among them, it seems, is “what is the stock market?“.
Along with “what is the S&P 500?“, that is one of the most commonly visited educational pages on the broker’s website, according to a new paper by academics at Oklahoma State and Emory universities. But what Robinhood’s army of untrained investors lacks in market knowledge, it more than makes up for in enthusiasm and impact.