Hello everyone! Welcome to this weekly roundup of stories from Insider from Business co-Editor in Chief Matt Turner. Subscribe here to get this newsletter …
Hello everyone! Welcome to this weekly roundup of stories from Insider from Business co-Editor in Chief Matt Turner. Subscribe here to get this newsletter in your inbox every Sunday. Read on for the latest news, and more on Wall Street Bets, Black Comedy Central employees feeling tokenized, and the new face of Blackstone. Read time: 5 minutes. Wall Street Bets users have driven up the GameStop stock price REUTERS/Dado Ruvic/Illustration/File Photo Hello! A troubling strain of the coronavirus has emerged, and it’s now spreading around the world, Andrew Dunn reported this weekend. From his story: Potentially more troubling: A flurry of data released this week shows the virus has changed in ways that likely diminish the efficacy of leading vaccines. “We can see that we are going to be challenged,” Dr. Anthony Fauci, the director of the National Institute of Allergy and Infectious Diseases, said Friday, calling the most recent findings “a wake-up call for us to be nimble and to be able to adjust.” Vaccine developers are relatively confident the current shots will still fight the pandemic, including the troubling variants. But the latest results show the world has entered a new phase of the pandemic, one that may challenge people’s expectations of a smoothly gliding return to normalcy once most people are vaccinated. Read the full story here:Occupy Wall Street Bets From Ben Winck: The spirit of Occupy Wall Street is back. Only this time, it’s coming from inside the stock exchange. Over the past few weeks, as internet-savvy traders led by the Reddit subgroup Wall Street Bets have furiously driven up the stock price of GameStop, short sellers who were betting against the video game retailer have been hit hard. According to the analytics firm S3 Research, losses on the single stock have totaled more than $19 billion. Some market commentators argue that the sudden spike in flash rallies, which have spread to a wide range of other securities around the world, is an internet prank gone viral.
