How Robinhood gets users addicted plus Cathie Wood talks Tesla and GameStop

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Bitcoin

Bitcoin.


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Hello and welcome to Insider Investing. I’m Joe Ciolli and I’m here to guide you through what’s happened in the markets and what to expect in the coming weeks. Here’s what’s on the dock:

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This weekly sight

In the past week, the market time spirit shifted somewhat away from the annoying day trading waves on Reddit and towards bitcoin, who repeatedly set new records. The red-hot cryptocurrency got a coveted co-sign from Tesla that said it bought $ 1.5 billion worth of dollars and would start accepting it as payment.

Then it rose even more to full-time heights after further adoption from similar Mastercard and BNY Mellon. With bitcoin now back at record highs, some age-old questions will continue in the coming weeks: Can an increasingly widespread adoption continue to offset concerns that the coin is too prevalent? And who else will follow the leadership of these high-profile companies?

But the return of crypto did not mean that everything was quiet on the Reddit front. There was significant day trading interest around cannabis stocks all week, linked to expectations that federal legalization will gather steam under the Biden administration. Options volume – the preferred investment for risk-averse Wall Street Bets users – rose to records.

The first pop in cannabis names did quickly decrease, raises questions about whether the Reddit audience will once again be able to reach the level of consensus and interest that made GameStop bet so effectively. The sudden interest in the cannabis space also showed the unpredictability of the Reddit cohort, which seems to shift focus with a moment’s notice.

Finally, the stimulus will remain at the top of the minds of investors in the coming week, although progress has at times been slow and frustrating. The market still responds immediately to any kind of step-by-step development, so keep an eye out for guidance from politicians or additional package information.


robinhood gamification trading app 2x1


Robin Hood; Samantha Lee / Insider


By all accounts, Robinhood has become an investment app for novice traders. Its sleek design, flashy features and simple interface have attracted 13 million users since 2013. Insider spoke with 10 users and industry experts to find out how Robinhood has transformed trade.

Read the whole story here:

GENERATION ROBINHOOD: How the trading app conditioned its inexperienced users to obsessively play the market


Cathie Wood


ARK Invest


Last week, Ark CEO Cathie Wood said stocks are not in a bubble but bonds. She and her team break down the consequences of Tesla’s $ 1.5 billion bitcoin investment, and share as well the investment case for the Chinese stock behind the audio chat app Clubhouse.

Read the whole story here:

Cathie Wood and her analysts discuss why Tesla’s 1.5 billion bitcoin purchase. $ Could trigger a wave of corporate investment, the fallout from the GameStop-AMC phenomenon and their bullish views on the Chinese stock behind the clubhouse


Nitin Sacheti Papyrus Headshot


Papyrus Capital


Nitin Sacheti is the founder and portfolio manager of Papyrus Capital, a long / short hedge fund. In a book called “Downside Protection” Sacheti detailed his unique short-selling strategy. He breaks down how he avoided the short squeeze on meme stocksand shares what shares he buys.

Read the whole story here:

A hedge fund manager who wrote a final book on short-selling breaks down how his strategy helped him escape the pressure on GameStop – and shares what types of stocks he buys and shorter now


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