What we’re reading (2/19)
“It’s Hard To Play The Market With Bed Bath & Beyond. These Meme Stock Investors Are Trying.” (Wall Street Journal). “Enthusiastic buyers sent the stock higher in January and early February, with the price at times more than doubling for the year even as the company seemed to careen toward bankruptcy. The gains then rapidly unwound after Bed Bath & Beyond Inc. landed a new financing deal, which should keep the company afloat, at least for now, but will also dilute existing shareholders. The stock has fallen for all but one of the nine trading sessions since the retailer’s deal with hedge fund Hudson Bay Capital Management was reported. “
“The Government Crackdown On Crypto Is Well Underway. Get Out While You Can” (Los Angeles Times). “The sun may be setting on the cryptocurrency craze. If you’re an investor or even just a curiosity-seeker on the fringes of this financial segment, you might want to prepare for its demise.”
“Sam Altman Is Tech’s Next Household Name — If We Survive The Killer Robots” (CNBC). “To anyone outside San Francisco, Altman would probably seem like just another young tech CEO. He’s a Stanford University dropout who sold a tech startup years ago for a fortune, and he’s spent the past decade investing and coaching other entrepreneurs. He posts confident and sunny life advice on Twitter and peppers his conversation with references to line graphs.”
“DEI Jobs Under Fire” (Marginal Revolution). “As sweeping layoffs plague Big Tech, DEI jobs are taking the brunt of the blow. According to a Bloomberg report, listings for DEI roles were down 19% last year — a larger downtick than in legal or general human resources departments per data from Textio, a company helping businesses create unbiased job ads.”
“Here Are The US Cities Where Home Prices Are Actually Falling” (CNN Business). “Home prices are going up across the country — in aggregate. Looking at individual markets, however, some are showing prices have fallen from a year ago. Single-family median home prices increased 4% in the fourth quarter from a year ago to $378,700. Prices were strongest in the Northeast in the last quarter, up 5.3%; followed by the South, up 4.9%; the Midwest, up 4% and the West, up 2.6%, according to the National Association of Realtors.”
