The company will reportedly go public via a merger with publicly traded Digital World Acquisition Corp., which rallied more than 600% in two days.
The S&P 500 had another winning week, approaching record highs on the strength of a solid batch of earnings reports. Bitcoin made new record highs above $66,000 following the launch of the first U.S. Bitcoin futures exchange-traded fund listed on a major exchange. The ProShares Bitcoin Strategy ETF began trading on Tuesday, finishing its first day up 4.8%. On Monday, the U.S. Securities and Exchange Commission released a highly anticipated report focused on the unusual market action in GameStop in early 2021 that resulted in brokers implementing temporary buying restrictions in the stock. The SEC blamed “game-like features and celebratory animations” used by online brokers for contributing to trading frenzies in so-called meme stocks and generating periods of extreme volatility in the market.
