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Home prices in March saw highest growth in over 15 years, S&P Case-Shiller says
A real estate broker, right, gives a tour for potential home buyers during an open house in Manhattan Beach, California.Patrick T. Fallon | Bloomberg | Getty ImagesHome prices in March were 13.2% higher in March, compared with March 2020, according to the S&P CoreLogic Case-Shiller National Home Price Index. That is up from the 12% annual gain in February, and it marks the 10th straight month of accelerating home prices.The March gain is the largest since December 2005 and is also one of the largest in the index’s 30-year history. Prices are being pushed higher by incredibly strong competition in the market. High demand is butting up against near record-low supply, resulting in bidding wars for the vast majority of listings.The 10-City Composite rose 12.8% year over year, up from 11.7% in the previous month. The 20-City Composite increased 13.3%, up from 12.0% in February.Cities with the strongest price gains continue to be Phoenix, San Diego and Seattle. Phoenix sits at the top with 20% year-over-year price increase, followed by San Diego with a 19.1% increase and Seattle prices rising 18.3%. All 20 cities reported higher price increases in the year ending March 2021 versus the year ending February 2021.”These
Robinhood's disruptive force: The good, the bad and the controversy
This illustration photo shows a person checking the three month GameStop stock graph on a smartphone on February 17, 2021 in Los Angeles as the Reddit, Citadel, Robinhood and Melvin Capital logos are seen on the background ahead of the virtual hearing involving GameStop stocks.Chris Delmas | AFP | Getty ImagesTech-driven disruption in business is rarely a force for good or bad alone. Robinhood is a good example of the rocky, disruptive force that sits between the absolutes.The brokerage industry disruptor exemplifies the way that technology can turn an industry with gatekeepers into a more open platform and force the established giants to innovate and expand. That is why Robinhood earned the top spot on this year’s CNBC Disruptor 50 list, pressing Wall Street and investment giants to lower trading costs — in many cases, to nothing — and consolidate to better withstand an accelerating digital threat.And this year, the company and its CEO, Vlad Tenev, were at the center of a stock market and cultural phenomenon. In January, conversation in Reddit’s WallStreetBets forum about squeezing hedge fund investors drove the seemingly irrational buying up of GameStop and AMC Entertainment shares. That trading happened largely on Robinhood — and it
Bitcoin attempts to close in on $40,000 after Elon Musk said he spoke to miners about energy usage
In this articleTSLATesla, led by Elon Musk, confirmed that it purchased about $ 1.5 billion in bitcoin in January and expects to start accepting it as a payment in the future.Artur Widak | NurPhoto | Getty ImagesThe price of bitcoin is approaching $40,000 once again after Tesla CEO Elon Musk tweeted that was having active discussions with bitcoin miners regarding the sustainability of the digital coin.Bitcoin was trading around $38,767.62 at 3:30 a.m. ET on Tuesday and its price has risen over 9% in the last 24 hours, according to data from CoinDesk.Almost all of the other major cryptocurrencies are also higher.Ethereum’s price has risen more than 15% in the last 24 hours to $2,634.79, while Dogecoin has seen its price rise more than 8% to 35 cents a coin.A small handful of less well-known cryptocurrencies such as Tether and Dai have seen their price fall in the last 24 hours, but the declines are negligible.Bitcoin, the world’s most popular cryptocurrency jumped minutes after Musk tweeted: “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.”The coin initially popped 4% to hit $39,824.81 a few
Elon Musk says he talked to 'North American Bitcoin miners,' sending bitcoin price surging
The price of bitcoin jumped about 4% Monday afternoon after Tesla CEO Elon Musk tweeted that he was having active discussions regarding the sustainability of the digital coin.Bitcoin was trading around $38,074, according to Coindesk, when at about 3:42 p.m. ET Musk posted on Twitter: “Spoke with North American Bitcoin miners. They committed to publish current & planned renewable usage & to ask miners WW to do so. Potentially promising.”Within minutes, the price had shot up to more than $39,500. Overall, the coin is up more than 17% in the last 24 hours.Microstrategy CEO Michael Saylor followed up on Musk’s tweet, saying he hosted a meeting between the Tesla CEO and some bitcoin miners that led to the formation of the Bitcoin Mining Council, which will promote sustainability.Musk has been a big supporter of cryptocurrencies, helping rally the prices of digital coins, including bitcoin, several times in the past year. His tweets and comments around cryptocurrency often send the prices soaring or plunging.In an SEC filing in February, Tesla revealed that it bought $1.5 billion worth of bitcoin and would accept it as a form of payment. The company later said it registered a net gain of $101 million from
Lordstown Motors halves the number of vehicles it will make in 2021.
Lordstown Motors, a start-up aiming to make electric pickup trucks, said on Monday that it would “at best” make just 50 percent of the vehicles it had previously hoped to this year.Lordstown gained attention because it purchased an auto plant in Lordstown, Ohio, that General Motors had closed. It was also once hailed by former President Donald Trump for saving manufacturing jobs.The company, which said Monday it was on track to start production in September, became a publicly traded company last year by merging with a special purpose acquisition vehicle, a company set up with cash from investors and a stock listing. Several other electric vehicle and related businesses have gone public through similar mergers in recent months taking advantage of investors desire to find the next Tesla.Lordstown, which is being investigated by the Securities and Exchange Commission, said it lost $125 million in the first quarter of 2021, but ended the period with $587 million in cash.After the news of its production outlook was released, Lordstown’s stock fell about 8 percent in after-hours trading, to just under $9. The stock briefly traded at about $30 last year.
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