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European stocks recovered some of yesterday's losses on Tuesday morning in London, as new data from the Office for National Statistics showed the UK's public sector borrowing had seen its second highest August on record.
Cross-chain DeFi platform pNetwork has been hacked on Binance Smart Chain to the tune of approximately $12.7 million worth of Bitcoin.
The thought of a Lehman Brothers-esque collapse in China sent U.S. investors running for the exits Monday.
Synopsis: Brent Johnson, CEO of Santiago Capital, is joined by Steven Van Metre of Steven Van Metre Financial to discuss the most pressing issues on the macro landscape. After exploring whether quantitative easing (QE) and low rates are inflationary or deflationary, Johnson and Van Metre take a deep dive into the plumbing of the Treasury market and specifically the operations of the Fed’s FOMC. Van Metre explains why he believes the Fed’s policies have actually caused banks to tighten their lending standards rather than loosen them as the Fed intended. The pair then take a look at swap lines and the Eurodollar funding market as well as the effect a credit contraction would have on the U.S. dollar. Lastly, Van Metre talks about his Real Vision journey and how the knowledge he’s gained has helped him as a financial advisor
Exclusive: Reddit Pays Ode To GameStop 'Underdogs' In 5-Second Super Bowl Ad
Reddit took out a five-second advertisement during Sunday’s Super Bowl that paid an ode to "underdogs," as highlighted during the GameStop Corp. (NYSE: GME) short squeeze saga.
What Happened: ‘Wow, this actually worked,” declared the text-only commercial going. “If you’re reading this, it means our bet paid off.”
“One thing we learned from our communities last week is that underdogs can accomplish anything when they come together around a common idea,” the advertisement read — a reference to GameStop short squeezers on r/WallStreetBets.
Reddit said it blew up its entire marketing budgeting on seconds of airtime.
“Big game spots are expensive, so we couldn’t buy a full one,” said the social news aggregator.
Networks were baffled by its decision to run a JPEG as a television advertisement, as per a Reddit tweet.
What just happened? pic.twitter.com/DypRp6DeQt— Reddit (@reddit) February 8, 2021
Why It Matters: ViacomCBS Inc (NASDAQ: VIAC)-owned CBS sought $5.5 million for a 30-second in-game spot for the Superbowl, according to Variety. A single five-second ad would thus cost nearly $915,000.
The gone in a flash advertisement did catch the attention of r/WallStreetBets where a poster who goes by the nickname AdjustedClimatology posted, “Wow super bowl commercial for us.”
Retail investors, particularly those on Reddit, have been at the center of attention of the last weeks as they outsmarted Wall Street veterans by pumping up heavily shorted stocks of GameStop, AMC Entertainment Holdings Inc (NYSE: AMC), Nokia Oyj (NYSE: NOK), Blackberry Ltd (NYSE: BB), and others.