Welcome to another edition of Under60 Daily - a brief rundown of the top happenings in the business world, compiled by hand to exclude the clutter and ensure you get up to speed in under a minute.
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[Markets] WeWork is in talks to go public via a special-purpose acquisition company (SPAC). This follows a failed attempt a year ago when the company tried to go public via a traditional initial public offering (IPO).
[Markets] Robinhood restricted trading of several stocks such as GameStop, AMC and Express due to volatility on Friday. Friday’s spike erased heavy losses sustained during the prior session after Robinhood and other retail brokerages announced a handful of stock restrictions. Investors on Robinhood were reportedly only able to sell their stock and not buy any new positions. Others reported not being able to search for stocks like GameStop on the app.
[Automobiles] Toyota overtook Volkswagen in car sales in 2020, regaining its position as the world’s top-selling automaker. Toyota said on Thursday its group-wide global sales fell 11.3% to 9.528 million vehicles in 2020. That compared with a 15.2 percent drop at Volkswagen to 9.305 million vehicles.
[IPO] Shares of SAP-owned Qualtrics International Inc jumped nearly 40% on Thursday in their Nasdaq debut, valuing the firm at nearly $21 billion, against the backdrop of a capital market frenzy that has seen investors flock to technology stocks.
[Media] Facebook is reportedly planning to release newsletter tools to capitalize on the success of platforms such as Substack and Revue. Interest in paid newsletters has exploded recently, with Substack announcing over 250,000 paying subscribers in September last year.
Over60: The Verge
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