Wallstreetbets – Is the Internet Striking Back?
No time right now?
Every Monday morning, t3n editor-in-chief Luca Caracciolo reports on five things that are important to start the week. This time it is about Wall Streetbets, the dispute between Apple and Facebook and iOS 14.4.
The ingredients for this story couldn’t be more spectacular: retail investors organized via the Internet who band together to carry out concerted actions on the stock exchange; Securities of companies that go through the roof against their economically probable development; Billionaire hedge funds that are short on falling prices and suffer significant losses through small investors.
What is currently happening on Wall Street stunned conservative observers. Others see a new era dawning on the stock market. The narrative of “rich against poor” is often told on social media. But what is actually behind the fuss about Gamestop, Nokia, Reddit, Wallstreetbets and the hedge funds involved?
Contents
- 1 1. Wallstreetbets: Is the Internet Striking Back?
- 2 2. The dispute between Facebook and Apple is coming to a head
- 3 3. Tesla rival Lucid Motors is to negotiate an upcoming billion-euro IPO
- 4 4. iOS 14.4 is here: This brings the new update to the iPhone
- 5 5th practical tip of the week: How to separate work from life at home
- 6 “5 things you need to know this week” as a newsletter
1. Wallstreetbets: Is the Internet Striking Back?
In “normal” times, Gamestop would not be a very good candidate on the stock market. The company thrives on the retail business with video games and used sales – a business model that has come under great pressure in recent years due to the increasing digital sales of games and, above all, the corona pandemic. No wonder, then, that hedge funds are betting on the decline of Gamestop stock.
However, this time these hedge funds have done their math without the small investors who organize themselves via the subreddit “Wallstreetbets” and buy their shares via apps like Robinhood or Trade Republic. Other companies such as Nokia and Blackberry were also the target of these campaigns. Why do retail investors do this? Because brands are important to them and have a high priority for them – despite the rather poor economic prospects; because they see themselves as part of a counter-movement; and because they simply enjoy making the big financial market players work up a sweat. Sequel follows.
2. The dispute between Facebook and Apple is coming to a head
The tone between the two tech companies is getting sharper. Apparently Facebook is even planning an antitrust lawsuit against Apple. Background to the dispute: In the future, the iPhone group wants to require app operators to obtain a declaration of consent (opt-in) from users when they collect their data. Tim Cook recently countered: “If a company is built on the misleading of users, on the exploitation of data (…), then it does not deserve our praise. It deserves our contempt. “
3. Tesla rival Lucid Motors is to negotiate an upcoming billion-euro IPO
Tesla competitor Lucid Motors is in the starting blocks, and the first model is due to roll off the assembly line in the spring: the most expensive version of a luxury electric car, which is said to cost 169,000 US dollars. The model should also be launched in Europe this year. According to Bloomberg, Lucid Motors is currently negotiating with the investment firm Churchill Capital about an early IPO. The company can expect a valuation of up to $ 15 billion.
4. iOS 14.4 is here: This brings the new update to the iPhone
The new iOS version is here, but it doesn’t contain that many new features. Above all, Apple fixes a few bugs. For example, fewer image artifacts should be seen in HDR photos taken with the iPhone 12. In addition, delays when entering data using the software keyboard should no longer occur. IOS 14.4 as well as iPadOS 14.4 and watchOS 7.3 are now available for installation.
5th practical tip of the week: How to separate work from life at home
Working from home has been an ongoing issue since the corona pandemic. But how can the job be separated from other private matters? Our author Isabell Prophet has a few tips for you.
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