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Spotify’s challenge is to prove it’s a real business, not a fantasy
Three months after quietly filing to become a public company, Spotify finally made its debut on the New York Stock Exchange Tuesday. It was a big day for the Swedish music-streaming giant, to say the least, and it ended up exceeding expectations from Wall Street analysts on its first day of trading. But for many investors, Spotify may not be the safest bet. In its IPO filing, it disclosed that it has incurred significant operating losses over the past few years, warning investors that it may be a while before it's able to generate profits on a sustained basis.
Trader pleads guilty to sparking stock market 'Flash Crash'
If you were trading on an American stock market on May 6th, 2010, you probably had a minor heart attack: the "Flash Crash" that day sent the Dow Jones Industrial Average down 1,000 points (600 in the first 5 minutes) and recovered virtually all its value in the space of just 15 minutes. However, investigators eventually discovered that the crash was the result of intentional manipulation... and now, investors are getting some justice for that manufactured crisis. Navinder Sarao (above), a British trader extradited to the US, has pleaded guilty to charges of both wire fraud and spoofing that came from using automated trading software to make "at least" $12.8 million in illegal profit from the crash and beyond.
Twitter can tell you when friends and celebs start livestreaming
Twitter is all about live content on this fine Monday morning. First up, Twitter has added a new notification option that alerts users when someone they follow shares live video in a tweet. To enable the function on mobile, navigate to the page of someone you follow and tap the new notification icon next to the follow icon. Then select the final option, "Only tweets with live video," and you're all set. The next time that account goes live, a red alert bar will pop up along the bottom of your feed, allowing you to tap and start watching.
Trading stopped on New York Stock Exchange due to 'technical issue' (update)
It has been quite a day for tech problems. Trading on the New York Stock Exchange was halted due to a "technical issue" at around 11:30 AM ET this morning. On its status page, the NYSE posted that all trading had been suspended and any open orders would be cancelled -- with a more detailed explanation to follow. A NYSE spokesperson told Forbes that the stoppage came after the exchange "experienced a technical issue" that it's "working to resolve as quickly as possible." An hour before trading stopped, the NYSE reported a problem had been fixed concerning order acknowledgements and connectivity issues. NYSE Arca and NYSE Amex/Arca Options appear to be untouched by the larger issue as they are continuing to operate normally.
New York Stock Exchange begins monitoring bitcoin value
Bitcoin's march toward legitimacy just took a hop, skip and jump with the news that the New York Stock Exchange is going to start monitoring its value. The NYSE Bitcoin Index (NYBXT) will keep a beady eye on how much the cryptocurrency is worth, relative to the US dollar, with the data being pulled from Coinbase. That way, investment types can get a quick read on how bitcoin is doing at any one time, with the value being updated at 11:00 AM ET each day.
Tesla to join the Nasdaq 100 as Oracle departs for the NYSE
As of Monday, July 15th, Tesla Motors will be included in the Nasdaq 100, a list of the largest non-financial stocks on Nasdaq's index. A spot in that elite group opened up when Oracle announced that it would be moving to the New York Stock Exchange, making it inelegible for inclusion on Nasdaq. The news seemed to please shareholders, and at the time of this writing, Tesla's stock had surged ahead nearly 2 percent. The company's entry into the Nasdaq 100 is a sure sign that its forward trajectory is nigh unstoppable -- at least for now. With an overall stock gain of nearly 260 percent in 2013, Tesla Motors just keeps on truckin'.
