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GameStop Stock Jumps After Company Enters NFTs [WSJ]
GameStop Corp. shares jumped about 15% on Friday, extending the videogame retailer’s volatile ride into this year…. GameStop plans to develop a marketplace for nonfungible tokens and establish cryptocurrency plans, an area that has been popular among individual investors.

No jab, no job: Citigroup to fire unvaccinated staff this month [Reuters]
Citigroup Inc staff in the United States who have not been vaccinated against COVID-19 by Jan. 14 will be placed on unpaid leave and fired at the end of the month unless they are granted an exemption…. Other major Wall Street banks, including Goldman Sachs & Co, Morgan Stanley and JPMorgan Chase & Co, have told some unvaccinated employees to work from home, but none has yet gone as far as sacking staff….
More than 90% of Citigroup employees have complied with the mandate so far and that figure is rising rapidly, the source said, adding that the timing of the vaccination mandate would be different for branch staff.

Sell-off in Cathie Wood’s ARK Innovation fund reached 48% at low point Thursday [CNBC]
“I still don’t believe the Cathie Wood stocks are low enough,” said Stephen Weiss, chief investment officer and managing partner of Short Hills Capital Partners, on CNBC’s “Halftime Report.” “There’s going to be continued pressure….”
“The performance of Cathie Woods ARKK is so atrocious that even though it is not a hedge fund and it can’t be shot against, it is a pall over every holding. Tempting to discuss opportunities but hard to find... It’s such a tough streak...,” CNBC’s Jim Cramer said on Twitter on Thursday.

Trump to launch his social media app in February, listing shows [Reuters]
TMTG is valued at $5.3 billion based on the stock price of Digital World Acquisition Corp, which rose 20% after Reuters reported the app's listing on the App Store. TMTG agreed in October to merge with the blank-check firm at a valuation of $875 million.

Hedge Fund Millennium to Expand in Paris With New Office for 100 Employees [Bloomberg]
Millennium, which manages $57.5 billion, already has more than 20 people in Paris, one of the people said./A stone’s throw away from the luxurious Avenue Montaigne, the firm’s new address was home to radio broadcaster RTL station for 82 years until 2018. Part of the historic building was demolished a year later. The plot has been developed and the new building is partly made of wood, which the developer says is a first in Paris’s central business district.

Home Sales Over $100 Million Exploded in 2021 [WSJ]
At least 40 properties in the United States sold for $50 million or more last year, a 35% increase from 2020, and at least eight sold for at least $100 million, a 300% jump from the prior year…. The priciest residential transactions to close last year included deals in Montana, South Florida, L.A., Manhattan and the Hamptons.



Opening Bell: 2.10.21

Clock stops on TikTok deal; GameStop squeeze ease; SARs spike; NYSE threats; and more!

(Getty Images)

Opening Bell: 4.16.21

Bank boom bangs on; Izzy Englander ain’t afraid of no degenerates; Brexit breaks London; and more!

bitcoin ether

Opening Bell: 9.16.21

Elect take aim at ARK; p.e. secondaries buyer seeks one of its own; Elizabeth Warren’s sending letters again; and more!


Opening Bell: 12.9.21

Nubank’s new shares; the sun will come out… next year; GameStop’s new plan; and more!

lululemon pants

Opening Bell: 5.11.21

Stocks slide; Biden doubles down; ARK sinks; the only thing better than leggings at work is no pants at all; and more!

yuen long

Opening Bell: 1.31.22

Baupost booms; Citrix sells; ARK takes on water; Evergrande’s Versailles burns; and more!

nobel prize

Opening Bell: 10.11.21

The second K and R step down from KKR; Izzy crypto trading?; SEC eyes EPS, Archegos; and more!


Opening Bell: 2.26.21

GameStop gun-shy; the only IPOs are the ones people don’t want; dump bonds, buy bitcoin; and more!