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How the stock market went viral

How the stock market went viral
By Reuters
By Colm Fulton
Stockholm - Stocks only go up , concludes a video montage of televangelists, dancing Ghanaian pallbearers, and Donald Trump s personal pastor repeatedly saying she can hear the sound of victory .
The tongue-in-cheek meme, designed to characterise bullish stock market sentiment when news of Pfizer BioNTechâs successful COVID-19 vaccine broke, has been viewed more than 1 million times on Instagram and Twitter.
Far more wide-reaching than broker research notes, memes have become central to a new form of financial literacy - or illiteracy, depending on your viewpoint - behind the frenzied boom in retail trading of cryptocurrencies or stocks on platforms like Robinhood. ....

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Gambling addiction experts see familiar aspects in Robinhood app

Gambling addiction experts see familiar aspects in Robinhood app
Cyrus Farivar
© Provided by NBC News
While the broader public may have gotten its first glimpse this week of the troubling and addictive nature of trading apps like Robinhood, gambling experts, finance watchers and even rival trading apps have long been thinking about how to address these problems.
“The online day trader with problems is indistinguishable from the online gambling addict,” said Keith Whyte, the executive director of the National Council on Problem Gambling, pointing to graphics like the iconic green confetti that displays on a user’s phone when a Robinhood trade executes. “A lot of this is directly taken from the user experience of casinos: It encourages immediacy and frequent engagement.” ....

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From broker notes to memes: how the stock market went viral

5 Min Read
Stockholm (Reuters) - “Stocks only go up”, concludes a video montage of televangelists, dancing Ghanaian pallbearers, and Donald Trump’s personal pastor repeatedly saying she can hear the “sound of victory”.
A screenshot of a meme posted on January 6, 2021 on Instagram by Litquidity about the Capitol Hill rioters and the stock market, in this screen grab obtained from social media on January 28, 2021. Litquidity/Instagram/via REUTERS
The tongue-in-cheek meme, designed to characterise bullish stock market sentiment when news of Pfizer BioNTech’s successful COVID-19 vaccine broke, has been viewed more than 1 million times on Instagram and Twitter.
Far more wide-reaching than broker research notes, memes have become central to a new form of financial literacy - or illiteracy, depending on your viewpoint - behind the frenzied boom in retail trading of cryptocurrencies or stocks on platforms like Robinhood. ....

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H&M warns on Q1 sales after annual profit plummets

H&M warns on Q1 sales after annual profit plummets
Published 2 months ago
STOCKHOLM (Reuters) – H&M reported an 88% fall in profit for the year through November on Friday and warned the pandemic was still hitting sales at the world’s second-biggest fashion group.
The Swedish fashion retailer said its full-year pretax profit fell to 2.05 billion Swedish crowns ($245.29 million) from 17.4 billion, hurt by restrictions and lockdowns.
In its final quarter, profit fell to 3.67 billion crowns from 5.40 billion, less than expected, helped by large cost cuts. That beat the 3.07 billion expected by analysts polled by Refinitiv.
H&M had already reported a 10% fall in sales for the fourth quarter. ....

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Taylor Swift proves herself the queen of pandemic productivity

Taylor Swift proves herself the queen of pandemic productivity
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Taylor Swift proves herself the queen of pandemic productivity
By Erin Riley
Normal text size
When Taylor Swift surprised the world on Friday with a new album,
evermore, it was all the more remarkable for being her second unscheduled album release this year alone, after
folklore in July.
While many of us entered COVID-19 lockdowns with a determination to put our time at home to good use, a good chunk of us drifted into an understandable pandemic malaise. Or we just binged Netflix and made sourdough. ....

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