Author: Kevin Bae
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Robinhood reaches settlement with FINRA
Robinhood agreed to a $70 million settlement which includes $57 million in fines and almost $13 million in compensation to customers. Finra alleged a series of failings by Robinhood, which agreed to a $57 million fine and $12.6 million in compensation for harmed investors. Many allegations involved problems with technology that automated the opening of…
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Cars selling above sticker price?
Talk about making a financial mistake. Who needs a car that badly where you’re willing to pay over sticker for something that loses 20% of its value the moment you take possession? Just say no. Auto makers typically set what is known as the manufacturer’s suggested retail price, or MSRP, a figure that appears on…
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The Yield – Week ending June 25, 2021
Microsoft unveils Windows 11, consumers spending flat but shifting sectors, Whitehouse reaches deal on spending?, short sellers avoid financial stocks, and more
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Consumers shift spending to services from big ticket items
Pent up demand for dining out and other entertainment services shifted money away from big ticket items that were popular during the height of the pandemic. Spending was flat over all but money shifted from one thing to another as people started emerging from their homes. Spending was flat last month as consumers cut back…
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Whitehouse & Senators reach agreement on $1 trillion in new spending
$1 trillion is a lot of money. It’s better than the $4 trillion originally talked about but so much new spending seems troublesome for the future. Hopefully I’m wrong! President Biden and a group of centrist senators agreed to a roughly $1 trillion infrastructure plan, securing a long-sought bipartisan deal on overhauling the nation’s transportation, water and…
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Short sellers are staying away from financial stocks
How long can we expect financial sector stocks to continue to climb? Short-sellers held just 1.57% of financial sector stocks at the end of May, the lowest percentage of any of the S&P 500’s 11 groups, according to an analysis by S&P Global Market Intelligence. That compares to an average of 2.21% of shares in…