- Robinhood’s user activity might be speculation
Robinhood, a free trading platform adopted by many a day-trader during this crisis, is showing us that retail investor activity is heavy bent on speculation. https://www.businessinsider.com/robinhood-traders-bet-hertz-bankruptcy-stocks-despite-huge-risks-2020-6
- Bankrupt companies stock is still worth $0
Hertz filed for bankruptcy and Chesapeake Energy has said bankruptcy is basically imminent. These companies will not disappear due to bankruptcy. That’s not how it works. Debt holders will become the new equity owners and current stockholders (equity owners) will get wiped out. That is how a re-organization works. Trading a bankrupt company’s stock is like a 2-year old playing with fire…it always turns out badly. https://www.fool.com/investing/2020/06/11/the-insanity-of-chesapeake-energy-stock.aspx
- Starbucks closing 400 cafes – I’m not happy
For those of you that know me well, you know that coffee is important. Next to God and family, coffee is highly ranked. My kids roll their eyes when dad is heading to Starbucks at 2p for a coffee! Speaking of Starbucks, they are closing/modifying 400 cafes. This was after refusing to pay rent at thousands of locations affected by COVID-19. Sadly, there may be more changes coming. https://finance.yahoo.com/news/starbucks-close-400-us-stores-055820495.html
- COVID-19 “second wave” or “lingering nemesis”
I guess COVID-19 is still with us. I didn’t think it was eradicated, but it has been thoroughly ignored over the past month or so. The hope of the economy re-opening coupled with social justice issues has diverted our attention (and right so). Momentum and focus is shifting again, and it is coming to many as a surprise. I have been saying all along that this is going to last awhile as more of a “lingering nemesis”, and we need to figure out how to live with it, treat it well and protect those vulnerable. https://www.washingtonpost.com/world/2020/06/11/coronavirus-pandemic-isnt-ending-its-surging/