Updated Aug. 2, 2022 6:21 pm ET List two articles (2 minutes) Robinhood Markets is slashing about 23% of its full-time staff as the flashy online brokerage continues to reel from a sharp slowdown in customer trading activity. The job cuts mark the second round of layoffs this year at Robinhood, which in April reduced … Read more
Demand for workers remained robust in late spring, with May job openings and the number of times workers quit their jobs declining but remaining historically high. The Labor Department on Wednesday said there were a seasonally adjusted 11.3 million job openings in May, a decrease from the upwardly revised 11.7 million the prior month. The … Read more
Robinhood Markets struggled to handle huge volumes of stock trading and sparred with its principal customer, market maker Citadel Securities, during the week in January 2021 when meme stocks exploded, according to a report from the Democratic staff of the House Financial Services Committee. The committee held hearings in February 2021, questioning the chief executives … Read more
In a perfect world, public companies would compensate their executives commensurate with the creation of long-term shareholder value. Last year, the median compensation for US chief executives reached a record high for the sixth consecutive year, The Wall Street Journal reported earlier this month. While most pay packages are bolstered by restricted stock units that … Read more
In Today’s Market, Poor Performance Still PaysThe Wall Street Journal
Securities and Exchange Commission Chairman Gary Gensler said he has asked agency staff to consider requiring brokerages to route individual investors’ orders to buy or sell stocks into auctions, as part of an effort to increase competition in the market. The potential change would represent a major shakeup to the lucrative business of executing trades … Read more
WASHINGTON — The Securities and Exchange Commission is preparing to propose major changes to the stock market’s plumbing as soon as this fall. Chairman Gary Gensler directed SEC staff last year to explore ways to make the stock market more efficient for small investors and public companies. While aspects of the effort are in varying … Read more
Companies which saw substantial growth during the Covid-19 pandemic are starting to take a more cautious approach toward hiring and spending. From Peloton Interactive Inc. spirit Meta Platforms Inc. thaw Twitter Inc Uber Technologies Inc. and others, corporate belt tightening comes as the Federal Reserve is raising interest rates, global stock markets have fallen and … Read more
Text size GameStop shares took off during 2021’s so-called meme-stock rally. Justin Sullivan / Getty Images The meme stocks GameStop spirit AMC unexpectedly soared on Thursday, joined by the used-car retailer Carvana , even as the broader market hit its lowest point in 2022. It was not clear what news, if any, was behind the … Read more
Text size Robinhood’s app is a popular tool for retail traders. Dreamstime There was a time — during the pandemic era — when retail investors were participating in the stock market, even driving its movements. This year, they have been much less active. Retail traders — those directly buying shares of individual companies, exchange-traded funds … Read more