ProfitPunk

13/01/2022

Stock options gained popularity on Main Street this year as a growing number of retail investors started executing high-speed derivative trades, but most of them are playing a losing game given the lack of access to more complex strategies.

A record of 39 million options contracts have traded daily on average this year, rising 35% from 2020, according to Options Clearing Corp. Retail investors account for more than 25% of total options trading activity, due to easy access via commission-free online brokers, according to data from Alphacution Research Conservatory.

People wait in line for t-shirts at a pop-up kiosk for the online brokerage Robinhood along Wall Street after the company went public with an IPO earlier in the day on July 29, 2021 in New York City. Spencer Platt | Getty Images News | Getty Images Stock options gained popularity on Main Street this...

12/01/2022

Cryptocurrencies have had yet another wild year.

Bitcoin, the world’s largest digital asset, has seen a roughly 65% gain since January — with some ten to twenty percent swings in between. It brought in a crop of new, individual investors along the way as payment giants like PayPal started letting users trade crypto. More billionaires and institutional investors dove in to help legitimize the asset class.

The industry now sprawls well beyond bitcoin. NFTs, blockchain-based videogames and “Web3” are top of executives’ minds heading into next year. Regulation remains as the biggest uncertainty.

Here’s a look at what some of the industry’s most influential executives had to say.

Sam Bankman-Fried, CEO of cryptocurrency exchange FTX, at the Bitcoin 2021 conference in Miami, Florida, on June 5, 2021. Eva Marie Uzcategui | Bloomberg | Getty Images Cryptocurrencies have had yet another wild year. Bitcoin, the world’s largest digital asset, has seen a roughly 65% gain since Ja...

24/12/2021

The “backdoor Roth” tax strategy used largely by wealthy retirement savers and slated to be killed next year has survived — for now.

The loophole lets rich 401(k) and individual retirement account owners save in a Roth-style account, shielding future investment growth from tax. Roth accounts are generally off-limits to such investors due to an income cap.

Democrats aimed to end the rules starting in 2022 as part of the Build Back Better Act, a roughly $1.75 trillion package of climate and social investments coupled with changes to the tax code aimed at rich Americans.

Sen. Joe Manchin, D-W.Va., walks outside of the Senate Chamber on Capitol Hill on Dec. 9, 2021. Kent Nishimura | Los Angeles Times | Getty Images The “backdoor Roth” tax strategy used largely by wealthy retirement savers and slated to be killed next year has survived — for now. The loophole le...

22/12/2021

Chinese electric car company Nio revealed Saturday a new sedan and custom augmented reality (AR) glasses that reduce the need for in-car screens.

Augmented reality is a technology for imposing digital images over the real, physical world. For cars, the tech can let drivers keep their eyes on the road without having to glance down at a dashboard.

Nio said it partnered with Chinese augmented reality start-up Nreal for the AR glasses that go with its new sedan, the ET5.

Nio’s et5 electric sedan is set to begin deliveries in Sept. 2022. Nio BEIJING — Chinese electric car company Nio revealed Saturday a new sedan and custom augmented reality (AR) glasses that reduce the need for in-car screens. Augmented reality is a technology for imposing digital images over th...

21/12/2021

Stock futures climbed in overnight trading Monday following a broad sell-off amid fears about the fast-spreading Covid omicron variant.

Futures on the Dow Jones Industrial Average gained 140 points, S&P 500 futures rose 0.4% and Nasdaq 100 futures added 0.6%.

Nike shares jumped about 3% in extended trading after the sneaker maker reported quarterly earnings and sales that exceeded analysts’ expectations, despite ongoing supply chain pressures.

Traders work on the trading floor at the New York Stock Exchange (NYSE) in New York, December 17, 2021. Andrew Kelly | Reuters Stock futures climbed in overnight trading Monday following a broad sell-off amid fears about the fast-spreading Covid omicron variant. Futures on the Dow Jones Industrial A...

26/11/2021

With Revenue Skyrocketing and Technology to Fuel Many Lucrative Industries, Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) is One of the Longest-Serving Commercial Drone Companies to be Flying Under the Radar!

Facebook Twitter With Revenue Skyrocketing and Technology to Fuel Many Lucrative Industries, Draganfly Inc. (NASDAQ: DPRO) (CSE: DPRO) (FSE: 3U8) is One of the Longest-Serving Commercial Drone Companies to be Flying Under the Radar! Sponsored Content By: Draganfly Inc.7/7/2021 SHARE THIS ARTICLE Sha...

22/11/2021

Stocks making the biggest moves premarket: Foot locker, Dillard’s, Farfetch and others.

Check out the companies making headlines before the bell:

Check out the companies making headlines before the bell: Foot Locker (FL) – Foot Locker slid 3.6% in the premarket after the athletic footwear and apparel retailer said it expects global supply chain constraints to persist through this quarter. The slide comes despite a beat on both the top and b...

18/11/2021

Famed economist Mohamed El-Erian says he bought some bitcoin a few years ago — but misjudged when to sell due to “behavioral mistakes.”

The Allianz chief economic advisor revealed he purchased an unspecified amount of bitcoin in the “crypto winter” of 2018, when the world’s largest digital coin plunged close to $3,000 after a monster rally that took it above $19,000 a year earlier.

“I felt compelled to buy it — I really did,” El-Erian said in an interview with CNBC’s Dan Murphy on Monday. “I felt like I had framed it. I had this level, I had an entry point.”

Famed economist Mohamed El-Erian says he bought some bitcoin a few years ago — but misjudged when to sell due to “behavioral mistakes.” The Allianz chief economic advisor revealed he purchased an unspecified amount of bitcoin in the “crypto winter” of 2018, when the world’s largest digit...

18/11/2021

Upgrade, the fintech start-up that turns credit card balances into installment loans, has closed a fundraising round that values the company at $6.28 billion, CNBC has learned.

The company raised $280 million in its Series F round led by new investors Coatue Management and DST Global, according to Upgrade CEO Renaud Laplanche. That’s an 83% jump from a previous round this year that valued Upgrade at $3.43 billion, he said.

Upgrade CEO Renaud Laplanche speaks at a conference in Brooklyn, New York, in 2018. Alex Flynn | Bloomberg via Getty Images Upgrade, the fintech start-up that turns credit card balances into installment loans, has closed a fundraising round that values the company at $6.28 billion, CNBC has learned....

14/11/2021

Scammers are using the child tax credit to try to steal from unsuspecting Americans, according to the Federal Trade Commission.

Often, these criminals perpetuate a type of “government impersonator” scam. They contact people by phone, text, e-mail and social media, pretending to be IRS agents and directing victims to fake websites that seem legitimate.

The American Rescue Plan, a pandemic relief law passed in March, temporarily enhanced the value of the child tax credit and authorized the IRS send funds in monthly installments through 2021.

https://bddy.me/3Hxascv

MoMo Productions | DigitalVision | Getty Images Scammers are using the child tax credit to try to steal from unsuspecting Americans, according to the Federal Trade Commission. Often, these criminals perpetuate a type of “government impersonator” scam. They contact people by phone, text, e-mail a...

12/11/2021

Check out the companies making headlines before the bell: Coinbase, Poshmark, DoorDash, FuboTV plus more!

Check out the companies making headlines before the bell: Coinbase (COIN) — Shares of Coinbase sunk more than 11% premarket after the company reported lower-than-expected quarterly revenue. The cryptocurrency exchange reported revenue of $1.31 billion versus the Refinitiv consensus of $1.57 billio...

10/11/2021

British start-up Zilch is riding the “buy now, pay later” wave to America.

The London-based company said Wednesday it has raised $110 million in a fresh round of funding which values it at $2 billion — four times the $500 million Zilch was worth in its last private investment round eight months ago.

The London-based company said Wednesday it has raised $110 million in a fresh round of funding which values it at $2 billion — four times the $500 million Zilch was worth in its last private investment round eight months ago.

06/11/2021

Swedish electric self-driving truck start-up Einride said on Wednesday it has launched operations in the U.S. market and signed up GE Appliances, Swedish vegan milk maker and Oatly and tiremaker Bridgestone as customers.

The company has already started operating a fleet of 20 Einride Pods - its electric self-driving truck without a driver cabin - at the Louisville headquarters of GE Appliances, a unit of Chinese home appliance maker Haier, which includes a sprawling manufacturing complex.

By Nick Carey LONDON (Reuters) - Swedish electric self-driving truck start-up Einride said on Wednesday it has launched operations in the U.S. market and signed up GE Appliances, Swe...

04/11/2021

U.S. stock index futures were largely steady on Wednesday as investors refrained from making big bets ahead of the conclusion of the Federal Reserve's meeting, where policymakers are widely expected to signal the withdrawal of the pandemic-era support.

The U.S. central bank will likely announce the tapering of its $120 billion-a-month asset purchase program in its policy statement due at 2 p.m. ET (1800 GMT).

The statement will be followed by Chair Jerome Powell's news conference, which market participants will be closely watching for views on inflation and interest rate hikes.

Check out the rest of the article: https://bddy.me/3GOZm1W

04/11/2021

Coca Cola HBC will step up investment in marketing next year, Chief Executive Zoran Bogdanovic said on Wednesday, after the bottler posted higher third-quarter sales as people returned to visiting restaurants and pubs.

With input cost pressures high, the Switzerland-based company will also implement further "slight" price increases in the fourth quarter and 2022, it said.

https://bddy.me/3wftHln

By Priyanshi Mandhan and Pushkala Aripaka (Reuters) -Coca Cola HBC will step up investment in marketing next year, Chief Executive Zoran Bogdanovic said on Wednesday, after the bottler ...

28/10/2021

Thermo Fisher Scientific Inc's third-quarter profit is likely to get a boost from a rebound in COVID-19 testing due to the highly contagious Delta variant and sustained demand for vaccines against the coronavirus, Wall Street analysts said.

In July, when cases eased in the United States, the company cut its annual sales forecast for COVID-19 tests by $900 million. But the demand has again picked up pace in recent months amid a surge in Delta-led infections.

By Amruta Khandekar and Mrinalika Roy (Reuters) - Thermo Fisher Scientific Inc's third-quarter profit is likely to get a boost from a rebound in COVID-19 testing due to the highly co...

27/10/2021

Tesla Inc surpassed $1 trillion in market value on Monday, overshadowing the combined value of five of its biggest rivals, Toyota Motor Corp, Volkswagen AG, Daimler AG, Ford Motor Co and General Motors.

The electric vehicle maker landed its biggest-ever order from rental car company Hertz of 100,000 cars to be delivered by the end of next year.

(Reuters) - Tesla Inc surpassed $1 trillion in market value on Monday, overshadowing the combined value of five of its biggest rivals, Toyota Motor Corp, Volkswagen AG, Daimler AG, Ford Motor Co a...

22/10/2021

Cuba has reached a deal with the Paris Club of creditor nations to postpone an annual debt payment due in November until next year, according to diplomats from five of the governments involved, the latest sign the Communist-run country is suffering a grave foreign exchange crisis.

The historic 2015 Paris Club agreement with Havana forgave $8.5 billion of $11.1 billion in sovereign debt Cuba defaulted on in 1986, plus charges. Cuba agreed to repay the remainder in annual installments through 2033, but only partially met its obligations in 2019 and defaulted last year.

https://bddy.me/3ndv93u

By Marc Frank HAVANA (Reuters) - Cuba has reached a deal with the Paris Club of creditor nations to postpone an annual debt payment due in November until next year, according to dipl...

21/10/2021

Zuckerverse. Timesuck. Faceplant.

They're just a few of the suggestions being bandied around online following reports that Facebook plans to rebrand itself with a new group name. The company refused to comment on rumor or speculation, of course, but the Twitterati had no problem.

The debate careered from sensible to screwball to strange.

By Nivedita Balu and Antonio Denti (Reuters) - Zuckerverse. Timesuck. Faceplant. They're just a few of the suggestions being bandied around online following reports tha...

19/10/2021

Carmaker Stellantis will start a restructuring of its European dealers' network, due to begin in June 2023, with its premium brands such as Alfa Romeo and Lancia, the company's European sales and marketing chief said on Thursday.

Stellantis, formed at the start of the year by the merger of Fiat Chrysler and Peugeot maker PSA, announced in May that it would completely restructure its European dealers' network as it seeks to adapt to changes in the industry brought by electrification, including a boom in online sales, and achieve promised post-merger synergies.

https://bddy.me/3jeGpLO

NUERTINGEN, Germany (Reuters) - Carmaker Stellantis will start a restructuring of its European dealers' network, due to begin in June 2023, with its premium brands such as Alfa Romeo and Lancia, t...

16/10/2021

President Joe Biden is pushing to ease supply shortages and tame rising prices in time for Christmas, but unsnarling U.S. supply lines could take far longer, experts told Reuters.

Biden brought together powerbrokers from ports, unions and big business on Wednesday to address shipping, labor and warehousing pain in the U.S. supply chain, and announced new around-the-clock port operations in Los Angeles.

https://bddy.me/3FW6cSL

By Nandita Bose and Lisa Baertlein WASHINGTON (Reuters) - President Joe Biden is pushing to ease supply shortages and tame rising prices in time for Christmas, but unsnarling U.S. su...

14/10/2021

U.S. stock index futures climbed on Thursday as surging oil prices lifted energy shares, while investors awaited earnings updates from big banks and a fresh reading on inflation data.

After a strong quarterly performance from JPMorgan Chase & Co, peers Bank of America, Citigroup, Wells Fargo and Morgan Stanley were set to publish their results before the opening bell.

(Reuters) - U.S. stock index futures climbed on Thursday as surging oil prices lifted energy shares, while investors awaited earnings updates from big banks and a fresh reading on inflation data. ...

11/10/2021

Alberto Joseph Safra and his family are close to an agreement over the will of his father, Brazilian billionaire banker Joseph Safra, that could avoid litigation over an almost $15 billion fortune, two sources with knowledge of the matter said on Tuesday.

Alberto challenged the will in a New York court in August, asking for medical records to prove his father, who was Brazil's richest man when he died in December 2020 aged 82, was in poor health when he last changed his will in 2019.

https://bddy.me/3DtRTD1

By Carolina Mandl and Tatiana Bautzer SAO PAULO (Reuters) - Alberto Joseph Safra and his family are close to an agreement over the will of his father, Brazilian billionaire banker Jo...

09/10/2021

Investors raised short bets on most Asian emerging currencies, a fortnightly Reuters poll found, as a slew of factors including U.S. rate-hike expectations, rising inflation and signs of slowing global economic growth boosted the dollar.

Long positions on the Singapore dollar, Taiwan's dollar and the Indian rupee were reversed, while bearish views on the South Korean won hit a two-year peak, the poll of 12 respondents showed.

By Anushka Trivedi (Reuters) - Investors raised short bets on most Asian emerging currencies, a fortnightly Reuters poll found, as a slew of factors including U.S. rate-hike expectat...

08/10/2021

The Flying Buttress once glided across the oceans carrying vital commodities like grain to all corners of the world.

Now it bears a different treasure: Paw Patrol Movie Towers, Batmobile Transformers and Baby Alive Lulu Achoo dolls.

The dry bulk cargo ship has been drafted into the service of retail giant Walmart, which is chartering its own vessels in an effort to beat the global supply chain disruptions that threaten to torpedo the retail industry's make-or-break holiday season.

https://bddy.me/3FuSi9V

By Lisa Baertlein, Jonathan Saul and Siddharth Cavale LOS ANGELES (Reuters) - The Flying Buttress once glided across the oceans carrying vital commodities like grain to all corners o...

08/10/2021

U.S. stock index futures bounced on Thursday after a temporary truce in the debt-ceiling standoff in Congress relieved concerns of a possible government debt default, while a dip in oil prices eased worries of higher inflation.

Top U.S. Senate Republican Mitch McConnell on Wednesday floated a plan to support an extension of the federal debt ceiling into December, potentially heading off a historic default.

https://bddy.me/3089D8E

By Shreyashi Sanyal (Reuters) - U.S. stock index futures bounced on Thursday after a temporary truce in the debt-ceiling standoff in Congress relieved concerns of a possible governme...

01/10/2021

U.S. Federal Reserve Chair Jerome Powell faced heated questions on Tuesday from senators criticizing the central bank's trading guidelines, financial regulation and diversity efforts.

Speaking to members of the U.S. Senate Banking Committee a day after two regional Fed presidents being scrutinized for their investment trades announced their retirements, Powell defended the central bank and vowed to improve policies where needed.

By Jonnelle Marte (Reuters) - U.S. Federal Reserve Chair Jerome Powell faced heated questions on Tuesday from senators criticizing the central bank's trading guidelines, financial re...

30/09/2021

Canada's decision on whether to ban Huawei 5G gear, as all the other members of the so-called Five Eyes intelligence-sharing network have done, is likely to be made in "coming weeks," Prime Minister Justin Trudeau said on Tuesday.

His comments about the decision - which has been under study for some three years - were the first since Huawei Technologies Co Ltd Chief Financial Officer Meng Wanzhou was freed last week from house arrest in Vancouver, where she had fought extradition to the United States for almost three years.

By Steve Scherer OTTAWA (Reuters) - Canada's decision on whether to ban Huawei 5G gear, as all the other members of the so-called Five Eyes intelligence-sharing network have done, is...

28/09/2021

Good news out of Saskatchewan. This could be HUGE for $DPRO and the future of drones.
Draganfly Inc. has announced that it has entered into an exclusive manufacturing agreement with Valqari to produce Valqari’s Drone Delivery Stations.

Valqari is focused on solving the “last inch” logistic problems associated with drone deliveries. The Valqari Delivery Station is a patented universal drone receptacle for package delivery and pick-up. It will allow Valqari to revolutionize drone deliveries for industries including pharmaceuticals, meal delivery, grocery services, governments, and residential e-commerce. As per the terms of the announced agreement, Draganfly will be the exclusive manufacturer and assembler of the Delivery Stations.
Read More
https://www.profitpunk.com/article/16153628f48733

26/09/2021

The European Union proposed changing the bloc's capital rules for insurers on Wednesday to release 120 billion euros ($141 billion) for repairing an economy hit by COVID and to meet climate goals without eroding policyholder protection.

Britain, which is home to the world's biggest commercial insurance market and left the EU last December, has also begun reviewing the capital rules known as Solvency II. It will scrutinise how changes by Brussels could affect London's competitiveness.

By Huw Jones LONDON (Reuters) - The European Union proposed changing the bloc's capital rules for insurers on Wednesday to release 120 billion euros ($141 billion) for repairing an e...