The Editorial Team |

ESG Risks Top the List of Near-Term Concerns for Bank Executives

LAGOS (Capital Markets in Africa) — Risks related to climate change and social issues will intensify the most in the next two years, finance executives predicted in a survey, and firms will have to find ways to cope. Environmental, social and governance issues topped the list of risk managers’ concerns in a Deloitte poll to be released on Monday, followed by cybersecurity and credit matters. More than half of the 57 firms surveyed were banks…

AMC Leads Gains in Reddit Favorites as Focus Shifts to Silver

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LAGOS (Capital Markets in Africa) — AMC Entertainment Holdings Inc. and some other Redditor favorites extended January’s advance on Monday, while GameStop Corp.’srally paused, as brokerages removed trading restrictions from all but the most volatile stocks. AMC rose 19% to $15.83 in premarket trading, while GameStop erased earlier gains and was little changed at $323 as of 8:10 a.m. in New York. The video-game retailer surged 1,625% last month, propelled by day traders using Reddit…

Reddit Market Winners Face Hard Choice: Sell or ‘Hold the Line’?

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NEW YORK (Capital Markets in Africa) — On Wednesday they watched their fortunes surge. They made gains collectively worth billions and bludgeoned two hedge funds. Then their holdings plummeted, only to rebound again to stratospheric heights unimaginable just a few weeks earlier. Now that members of the Reddit forum WallStreetBets have become a cultural juggernaut on Main Street and a force to be reckoned with on Wall Street, many of the investors who make up…

Citadel Silver Holding Exposes Rifts in WallStreetBets Army

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LAGOS (Capital Markets in Africa) — Ken Griffin’s Citadel has once again found itself at the center of a WallStreetBets drama, this time over the firm’s holdings of silver. The precious metal has become a popular buying target for retail investors keen to inflict losses on hedge funds, after posts on WallStreetBets claimed the market was ripe for a short squeeze. Yet some members of the Reddit forum have responded with pleas to avoid the trade, saying Citadel stands…

Silver Spikes Past $30 as Retail Investors Swarm Biggest Target

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LAGOS (Capital Markets in Africa) — Silver broke above $30 an ounce as the precious metal took center stage in the retail investor frenzy sweeping through markets. Most-active futures jumped as much as 13% to $30.35 an ounce on the Comex, the highest in eight years. That followed a weekend buying binge that overwhelmed online sellers of silver coins and bars from the U.S. to Australia. BlackRock Inc.’s iShares Silver Trust, the largest exchange-traded product tracking the metal, recorded…

Why the Mutated Coronavirus Variants Are So Worrisome: QuickTake

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LAGOS (Capital Markets in Africa) — Viruses mutate all the time, including the novel coronavirus that’s caused the global Covid-19 pandemic. Most of the changes have no apparent effect. But recent variants that have emerged in the U.K., South Africa, and Brazil are causing particular concern. Studies suggest they are more contagious, and some evidence points to the U.K. strain being more deadly. An increase in infections has led to a surge in hospitalizations and…

Musk Says He’s a Bitcoin ‘Supporter,’ Buffeting Price Again

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LAGOS (Capital Markets in Africa) — Elon Musk once again sent ripples through the price of Bitcoin after declaring that he’s a supporter of the largest cryptocurrency. Speaking on social audio app Clubhouse, the billionaire said at this point he thinks “Bitcoin is a good thing,” adding he’s “late to the party” and should have bought the cryptocurrency eight years ago. The digital coin spiked to almost $34,500 Monday amid the comments, before easing back. It…

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