Paul Stenhouse: The internet vs Wall Street
Saturday Morning with Jack Tame · Newstalk ZB
January 29, 20217m 2s
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Show Notes
It's the internet vs Wall Street
You've probably heard of this story. Millions of amateur traders, wanting to teach Wall Street a lesson, have poured money into certain companies to push their stock prices up. That affects traders looking to 'short' the companies. That's when they bet on a stock going down.
One of the app based trading platforms has got caught up in the fight. RobinHood sells data on the transactions to the third parties executing the deals, then these Market Makers can then make money off the spread - the difference in pricing during the time between buy and sell orders. It might be just pennies of profit, but when you do that at volume there're serious money to be made.
Amazon is ready to distribute vaccines
The company sent President Biden a letter on his first day in office offering to help with distribution using its vast delivery network. They're uniquely suited to this task as in New York City, for example, they can deliver you almost anything in less than two hours. They can get packages to a vast majority of the population within two days. They have their own cargo planes, delivery trucks and even physical stores which could be utilized.
They also offered to vaccinate all their staff on-site (presumably at their expense) if they could get access to viles. They argue many of their 800,000 employees are front line workers and can't work from home as they're completing work in supermarkets, warehouses and data centres. Facebook's Oversight Board has made its first rulings
Of the five cases heard, the board agreed with Facebook on just one. The other four found Facebook had overstepped the mark and would need to reverse the deletion of that content. Each case was reviewed by a group of five randomly selected members, with the final decision approved by the full board. They have less than 90 days to make a decision about reinstating Donald Trump's Facebook access. LISTEN TO AUDIO ABOVE
You've probably heard of this story. Millions of amateur traders, wanting to teach Wall Street a lesson, have poured money into certain companies to push their stock prices up. That affects traders looking to 'short' the companies. That's when they bet on a stock going down.
One of the app based trading platforms has got caught up in the fight. RobinHood sells data on the transactions to the third parties executing the deals, then these Market Makers can then make money off the spread - the difference in pricing during the time between buy and sell orders. It might be just pennies of profit, but when you do that at volume there're serious money to be made.
Amazon is ready to distribute vaccines
The company sent President Biden a letter on his first day in office offering to help with distribution using its vast delivery network. They're uniquely suited to this task as in New York City, for example, they can deliver you almost anything in less than two hours. They can get packages to a vast majority of the population within two days. They have their own cargo planes, delivery trucks and even physical stores which could be utilized.
They also offered to vaccinate all their staff on-site (presumably at their expense) if they could get access to viles. They argue many of their 800,000 employees are front line workers and can't work from home as they're completing work in supermarkets, warehouses and data centres. Facebook's Oversight Board has made its first rulings
Of the five cases heard, the board agreed with Facebook on just one. The other four found Facebook had overstepped the mark and would need to reverse the deletion of that content. Each case was reviewed by a group of five randomly selected members, with the final decision approved by the full board. They have less than 90 days to make a decision about reinstating Donald Trump's Facebook access. LISTEN TO AUDIO ABOVE
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