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Added on the 24/05/2019 18:36:39 - Copyright : Wochit
Tiffany Wood has been an active 'super user' seller on Poshmark since 2015, and her loyalty has truly paid off. According to Business Insider, Wood now has a $12,000 nest egg because she bought stock in the company's initial public offering. In a leaked email, Poshmark let super users know the company had reserved 330,000 shares that they, and their friends and family, could purchase. The max buy was 150 shares. Wood bought 149 shares at $42 a share--the initial share price. On day one, her stock went up to a value of $14,378. By the market's close on Friday, shares were trading at $83.20. Wood's stake is still worth $12,397 with a healthy profit of $6,139. And she's thrilled!
President-elect Joe Biden is planning to nominate Janet Yellen to head the Treasury Department. Business Insider reports if the US Senate confirms Yellen, she will be the first woman to hold the job. Yellen served as Fed Chair during President Barack Obama's second term, from 2014 to 2017. President Donald Trump replaced her with Jerome Powell as head of the Fed. If confirmed, Yellen will face an immense set of challenges, including the pandemic, unemployment, and widespread housing and food insecurity. With both parties fiercely divided on its size and reach for months, Congress still hasn't approved a second coronavirus economic aid package.
New York's securities industry notched its largest first-half profit since 2009 due to sharp increases in trading and underwriting activity, New York State Comptroller Thomas DiNapoli said in a Thursday report. Pretax profits through the first six months of the year surged 82% to $27.6 billion. Underwriting revenues hit a record of $10.4 billion in the second quarter. The first-half performance suggests the securities industry "will be markedly profitable for the year, barring any further unforeseen events," DiNapoli said.
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