This is the web version of Term Sheet, a daily newsletter on the biggest deals and dealmakers. Sign up to get it delivered free to your inbox. It’s the special purpose acquisition craze meeting the GameStop insanity. On Thursday, Hindenburg Research, the short-selling firm known for flagging issues with electric car company Nikola last year, released […]
Peloton was a risky bet even among venture capitalists. At its core, the company sells a piece of hardware with virtual cycling lessons, a model skeptics say is easily copyable. They aren’t wrong: As Peloton has grown in the pandemic, so have its rivals including NordicTrack and fitness equipment maker Nautilus. Despite the naysayers, Peloton […]
This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here. Good morning. U.S. futures are fairly flat, but there are plenty of green shoots. Europe’s energy stocks and crude prices continues to gain, as does Bitcoin. In the U.S., tech futures […]
For all the angst and bickering brought about by the market moves of the past week—longs vs. shorts! hedge funds vs. retail investors! Robinhood vs….Congress!?—I am left with one overwhelming feeling: bullish. After all, consider what made the GameStop short squeeze possible in the first place. Namely, so many individuals had so much money in […]
Maybe the real question is, who isn’t raising a blank check company? Former U.S. Secretary of Commerce under President Donald Trump, Wilbur Ross, is backing a blank check company that is seeking to raise some $300 million. While Ross will be CEO, former Director of the National Economic Council Larry Kudlow will serve as director. […]
This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here. Good morning, Bull Sheeters. U.S. futures are in the green on the back of strong results from Amazon and Alphabet’s Google yesterday. But, don’t look now: GameStop is up 11% in […]
As its core ride-hailing business remains depressed by the pandemic, Uber is making yet another big bet that food delivery will stay as a big part of its business. On Tuesday, the company announced plans to acquire Drizly, a Boston-based maker of an alcohol delivery app, for about $1.1 billion in cash and stock. Uber […]
This is the web version of the Bull Sheet, Fortune’s no-BS daily newsletter on the markets. Sign up to receive it in your inbox here. Good morning, Bull Sheeters. As we’ve learned from the meme-stonks trade, what goes up, must also come down. Gulp. Not only is GameStop in a tailspin, but traders are quickly unwinding […]
Good morning. It’s a chilly start to February here in New York, where an extreme nor’easter is expected to dump a foot of snow on the city as temperatures hover in the upper 20s. Similarly, the maelstrom around Robinhood and the so-called memestocks (ahem, GameStop) continued swirling over the weekend. The stock trading app has […]
Enlarge / VMS Eve carries VSS Unity for its first captive-carry flight over Mojave. (credit: Virgin Galactic) At a time when non-traditional investors are buying up heavily shorted stocks like GameStop and AMC Networks, the hunt is on to find other targets among the most-shorted stocks in the market. Among those stocks is Virgin Galactic, […]