Tempers flared in Houston Tuesday night in the first matchup between John Wall and Russell Westbrook since they were traded for each other, as the All-Stars got technicals for trash talking one another. PSAC stock is soaring on Thursday after the SPAC’s reported merger with electric vehicle (EV) company Faraday & Future for $3.4 billion. Gamestop and AMC Theatres saw their stock drop in after-hours trading after huge spikes driven by a Reddit group called WallStreetBets. Skip to content Recent Quotes Are you currently wondering whether you should invest in cryptocurrencies? If so, you should definitely check out this article now.
Jan. 27 (UPI) — Tempers flared in Houston Tuesday night in the first matchup between John Wall and Russell Westbrook since they were traded for each other, as the All-Stars got technicals for trash talking one another.
“Russ has been kicking my [expletive] for years,” Wall told reporters. “This is only my third win against Russ, I think, since I’ve been in the league. So that means that he’s a hell of a talent.
“I know he’s going through injuries, same as I was, and we’re just trying to keep getting better, trying to lead our teams. [It was] just two competitive guys trash talking. This ain’t the first time we trash talked before, and we know how good that he can be.”
Wall missed a free throw before Westbrook pulled down a rebound and ran toward the rim with about 5:19 remaining. He put a crossover dribble move on Wall, which forced the Rockets guard to fall to the floor. P.J. Tucker then fouled Westbrook on the play.
Wall and Westbrook then got into a shouting match before an official issued double technical fouls to the All-Stars.
Rockets center DeMarcus Cousins also had 19 points, 11 rebounds and five steals in the victory.
“Now listen, I don’t start talking [expletive],” Westbrook said. “I defend myself because I don’t just allow people to say just anything, especially when I know the facts as it pertains to anybody on the court playing against [me]. So, I think [Wall and Cousins] just started talking [expletive] because they just started winning at that time.
The Rockets (7-9) next host the Portland Trail Blazers at 7:30 p.m. EST on Thursday and the Wizards (3-10) face the New Orleans Pelicans at 9 p.m. EST on Wednesday in New Orleans.
Author: Alex Butler
EV News: PSAC Stock Drives Higher on Faraday SPAC Merger Deal
Shares of Property Solutions Acquisition (NASDAQ:PSAC) stock are running higher after electric vehicle (EV) firm Faraday & Future Inc. announced it will go public via a merger with the special purpose acquisition company (SPAC).
The reported deal holds a price tag of $3.4 billion, and now makes Faraday “the latest electric-vehicle firm to join the blank-check dealmaking frenzy.” Follow the combined company’s initial public offering (IPO), shares will be listed on the Nasdaq and trade under the ticker “FFIE.”
Additionally, according to Reuters, “Faraday and Property Solutions said on Thursday the deal, supported by a private investment of $775 million, is expected to fetch Faraday Future $1 billion in gross proceeds.”
Investors are clearly excited about the news, with more than 9 million shares already traded on Thursday. In comparison, the company’s daily average trading volume is only around 79,000 shares.
Shares of PSAC stock were up 22.7% as of Thursday morning.
On the date of publication, Nick Clarkson did not have (either directly or indirectly) any positions in the securities mentioned in this article.
Nick is a web editor at InvestorPlace.
Article printed from InvestorPlace Media, https://investorplace.com/2021/01/ev-news-psac-stock-drives-higher-on-faraday-spac-merger-deal/.
©2021 InvestorPlace Media, LLC
Nick Clarkson, Web Editor
Gamestop, AMC Stocks Drop in After-Hours Trading
The stock prices for video game retailer GameStop and the parent company of AMC Theaters dropped in after-hours trading after a day of huge spikes driven by a Reddit group called WallStreetBets. But the share value for both companies remained at highs neither company has seen in ages.
As of 8:30 p.m. ET, shares of AMC Entertainment Holdings were trading for $14.60, down from a high of just above $20.00 per share at the start of business on Wednesday. And GameStop, which peaked at $347.51 during normal hours, was trading for $292.00.
But even with those declines, the companies are having a very good night so far. AMC closed on Tuesday night at just $4.96 per share, but opened above $20 per share in early trading, sparking several halts in trading as Wall Street decision makers attempted to get a handle on what was happening. As a result, AMC’s stock spike increased the company’s market cap to about $5.4 billion.
Also Read: Inside AMC’s Wall Street Surge: A ‘David Vs Goliath’ Reddit Battle
Meanwhile, GameStop’s incredible Wednesday was the culmination of two weeks of heavy trading that has inflated the company’s value by 1,500%.
It’s almost all thanks to WallStreetBets, a subreddit founded in January 2012 as a meeting place for both new and experienced investors to network and also talk about their bets (as in, what’s good, what to hold, etc). The subreddit quickly grew into a forum for amateur — and often unvetted — wannabe financial advisors who brag about huge gains to encourage other people to play the stock market.
WallStreetBets exploded in size over the last year — partly thanks to the pandemic, which had lots of people looking for alternate ways to make money. Members started betting heavily on companies like GameStop and AMC that have been heavily shorted, or bet against, by large hedge funds. The way it works is that an investor, more usually a hedge fund or similar entity trading on behalf of multiple investors, borrows shares to sell at what they think is a high price, only to buy them back at a lower price and profit off the gap between prices.
Also Read: AMC Theatres Stock Rockets 180% Higher as Reddit Investors Embrace Cinema Chain
The practice has been heavily criticized in recent years and is cited as a reason why companies that were struggling ended up failing entirely. And as it happens, many members specifically said their goal was to do real harm to hedge funds and other entities engaging in short-selling.
See, by buying up shares in shorted companies such as GameStop or AMC, WallStreetBets investors aimed to create what is referred to as “a short squeeze.” That’s when a company’s stock price runs higher than short-sellers anticipated, forcing them to buy the shares back at the higher-than-expected prices to stave off even deeper losses.
According to NBC reporter Jo Ling Kent, short-sellers incurred $14.3 billion in losses on Wednesday alone. In fact, Melvin Capital, a hedge fund specifically targeted by WallStreetBets members, closed out its investment in GameStop entirely, though the full extent of the fund’s losses are not known at present.
This has naturally caused much freaking out among regulators, commentators and even social media companies, where members of WallStreetBets gather. The group also operated a Discord server, which was banned on Wednesday due to what Discord said was repeated examples of “hate speech” by members.
Soon after, creators of the WallStreetBets on Reddit made the sub private, explaining in a public statement that it would be more strictly policing content to avoid the same thing happening there. They also said in a separate statement that “Discord did us dirty” and that they were making an effort to get the Discord server back online.
Author: Ross A. Lincoln and Samson Amore | January 27, 2021 @ 6:35 PM
Latest Trends, Demand and Analysis 2025 – Analytics News
HomeBusinessEnterprise Data Storage Market: Latest Trends, Demand and Analysis 2025
January 27, 2021
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6 Reasons to Invest in Cryptocurrencies
Many financial institutions and investors are shifting from traditional exchange methods to the new digital currencies. Technology is the main driving force that enables cryptocurrencies to function. Today, more Australian residents are investing in a crypto SMSF due to the high returns. Virtual currencies often record high price swings that attract investors to put in more money. Investing in cryptocurrencies is quite risky since the market is volatile.
Unlike the traditional currencies, cryptos are not tangible. That is why most people are still grappling to understand how digital investments operate. Despite the risks, it has many benefits that make cryptocurrencies more lucrative in the money markets.
The following are reasons why you need to invest in cryptocurrencies:
The popularity of cryptocurrencies is still growing since their emergence. Though still new in the market, they have grown over the few years. Cryptos are more lucrative compared to other investments. For instance, stocks record a high of around 20% after a certain period. On the other hand, cryptocurrencies offer higher returns over short time spans.
Thus, investing in virtual currencies is quite a risky venture, and most investors might shy away due to the extreme lows that accompany the crypto market. If you want to succeed in trading digital assets, you must have a specific strategy after a thorough market analysis.
If you compare conventional investments like the stocks, the digital assets are safer in terms of market fluctuations. Seasoned investors believe that cryptocurrencies can survive a market crash compared to the other investment options. Therefore, you can invest without worrying about severe crashes but also prepare for losses like any other money market investment.
If you are looking for financial independence, the crypto market is the perfect investment solution. You can access your account at any time, regardless of location. But if you invest in banks, other individuals or corporations are in control of your money. In case of any external risk, the government can intervene and freeze your funds. Or the bank can file bankruptcy or suffer a heist in the hands of criminals.
However, with digital currencies, you can manage your money independently without any fear of third party influence. No financial institution can hold or transfer your funds. Moreover, there are no excessive or hidden fees for any transaction. Since cryptos are the future, it is wise to invest now and wait for massive returns.
Investors prefer assets with high liquidity, and cryptocurrencies are among the lucrative assets in the digital platform. It is easily accessible online as long as you have a good Internet connection. Hence, buying and selling the currency is quick and easy. In a few minutes, you can record a high price swing. High liquidity makes digital assets more popular among investors. Moreover, the trading platforms can conduct automatic buying and selling at a quantified rate.
Beginners in the cryptocurrency world may find it confusing to trade the assets. Most people start to trade on a daily basis trying to get instant profits without conducting any market analysis. It is a risky strategy because you will lose a lot of money eventually. Digital assets usually record extreme highs and lows daily due to numerous factors.
That is why it is important to be updated in current affairs in the money market and world trades. Therefore, experts prefer to invest in the digital currencies for the long term to reap the high returns in the near future. Market predictions reveal that in a few years, the crypto market will explode, and investors will enjoy the massive returns.
Investing in any type of asset is quite challenging since it requires time, effort, and money. Whether it is the stocks, real estate, or any investment platform, trading is a complicated venture that also requires patience. That is why most people prefer to delegate stock trading to other investment firms because they don’t have the time and energy to track their assets daily.
Ultimately, investing in cryptocurrencies is a personal decision that individuals make depending on certain factors. Risk-takers in the money market usually reap immense returns since they capitalize on various assets. It is the same for cryptocurrency investments; you will get high returns if you invest in various currencies. Seasoned experts usually practice diversification to avoid huge losses.
Though it may seem like a risky investment, you will gain financial independence through high liquidity and confidential transactions. Don’t forget to consider investing in digital assets for the long-term to get impressive returns.
Interesting related article: “What is a Digital Currency?“
Author: By Alexander Joe