The IPO Market Strengthens
New listings faced a tough market over the past three years. Interest rates climbed, and investors re-evaluated the big valuations they previously gave buzzy startups. Shares of companies that went public in the U.S. in 2020 and 2021 tumbled. Yet optimism is picking up. Shares in Chime Financial surged nearly 50% on Thursday from the financial-technology company's IPO price of $27. Read more:
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New York Times
11 minutes ago
- New York Times
Las Vegas agrees two-year Formula One contract extension through 2027
MONTREAL — The Las Vegas Grand Prix will remain part of the Formula One calendar for at least the next two years after officials confirmed they have agreed an extension to cover 2026 and 2027. Las Vegas joined the F1 calendar in 2023 on an initial three-year contract, albeit with a long-term commitment in place from the casino partners and a 10-year approval from Clark County for the race to take place along the Strip. Advertisement Earlier this week, F1 announced the 2026 calendar including Las Vegas despite there being no formal communication about the race being renewed beyond this year. Senior leadership members from casino partners including Wynn, the MGM Grand, Caesars and the Venetian, plus the Las Vegas Convention and Visitors Authority, were in Montreal on Saturday to take part in a media panel discussing the future of the Las Vegas Grand Prix, and referred to an 'extension' being in place. Asked by The Athletic to clarify the contractual status of the grand prix, Emily Prazer, the president of the Las Vegas Grand Prix and chief commercial officer of F1, confirmed that a two-year renewal had been agreed by the various partners. 'We've agreed collectively that we're going to do a two-year extension for 2026 and '27,' Prazer said. 'We want to make sure that we're continuing to evolve what we're doing. But the intent is a much longer-term arrangement. 'As we all know, the race has had its challenges, but we're coming out the other side. So we want to make sure that it continues to work for both sides. 'So collectively, we sat down and agreed that was the best approach. We're very much planning longer-term, but that's kind of where we're at right now.' Steve Hill, the CEO and president of the LVCVA, added: 'The length of extensions don't really reflect anything other than it just makes sense incrementally, we know what's going to happen over the next couple of years. 'We're planning on this being a permanent race, we'll just keep planning extensions that will probably expand as we go forward.' The Las Vegas Grand Prix endured a tricky debut in 2023 amid concerns from fans about ticket and hotel prices, as well as an issue with a loose water valve cover on Thursday night in practice that led to FP1 being cancelled and FP2 being significantly delayed. Advertisement But it ended up being one of the best races of the year with plenty of overtaking, and the track layout proved popular with the drivers, while the high price points were addressed for 2024, including a significant drop in hotel rates. For 2025, officials in Las Vegas have brought forward the start time from its previous slot of 10 p.m. PT on Saturday to 8 p.m. after feedback from both paddock personnel and fans about it being too late to start the race. (Alex Bierensfor Heineken)
Yahoo
36 minutes ago
- Yahoo
Crypto legislation just had a 'gigantic' week. Here's why.
Bitcoin (BTC=F) is holding above $100K despite market jitters tied to tensions in the Middle East. Axios crypto reporter Brady Dale joins Morning Brief host Brad Smith to break down the pivotal week in crypto legislation and what congressional stablecoin action could mean for bitcoin. To watch more expert insights and analysis on the latest market action, check out more Morning Brief here. Bitcoin is still holding above the $100,000 level but losing some ground as stocks slump amid increasing Mideast tension. We're taking a look at crypto-related stocks as well, including Coinbase, also largely lower along with the broader market. So does this spell the end of the Rico rally for right now, or could impending legislation. And a crypto friendly administration proved to be a boost. I wanna bring in Brady Dale, Axio's crypto reporter here. Brady, good to have you back on the program with us. Just take us into your evaluation of what the mindset around riskier portions of the investment thesis, riskier assets like crypto, especially within the broader playing out of the Middle East tensions right now, how that is typical and what we should expect this time around. Yeah, I mean, I think probably what investors are looking at is does this war get a lot worse? And so I think that's why some people backed out. Now, keep in mind, the amount that, uh, Bitcoin is down right now is roughly 2% and, in the crypto markets, that could have just been like a very lackluster Tuesday. You know, I mean, the markets can easily move that much on nothing at all. So really this is kind of a smaller shift down than I would have. Expected for something that could end up being so much bigger than it has become so far. Yeah, certainly. It's also been a big week we know for cryptocurrency. You've got everyone from the president even opining in and weighing in. I saw our own Brian Sazi, executive editor, post a video where even at the most recent conference that was taking place here in New York, there is still within the conversation this willingness or want and desire. To make sure that the administration is positioning itself as continuously crypto friendly, how's that playing out? I mean this was a gigantic week in crypto legislation, um, you know, more in the Congress side, um, genius, the Genius Bill, which is about stablecoins, uh, got a cloture vote for a second time in the Senate, teamed up for a very likely final passage vote sometime I think we're looking at Tuesday right now, uh, and so that's been a big fight in the Senate and then over in the House, uh, two different committees, uh, the Ad committee and the House Financial Services Committee. Voted the Clarity Act to the floor, and that's an act that would just sort of decide how disclosures and regulations would work for cryptocurrency. And then on top of that, the final big regulator got a hearing in the in the Senate, Brian Quintends the CFTC. So it was a gigantic week in crypto legislation. If the stablecoin legislation is able to move forward, what what does that mean for, of course, the poster child of crypto in in Bitcoin? Uh, yeah, that is the big interesting question. You know, historically, thus far, when, uh, there has been more activity of really any kind in the cryptocurrency market, like, you know, your viewers might remember the ICO craze of 2017, which was really all about Ethereum, that drove a ton of, uh, value to Bitcoin regardless. So that's what we'd expect. But you know, it could be that these things are starting to decouple. You know, stablecoins are a financial utility. People can use them for a lot of reasons that have nothing to do with Bitcoin, so it could be that stablecoins explode and we see a modest bump to Bitcoin, but no direct gigantic gain. Or it could be that the explosion of stablecoins brings a lot more energy to Bitcoin. We just, we just don't know right now. I mean, we're entering into a very new world. Yeah, I imagine some of the prominent profiles that were promoting ICOs, and then got dinged by the SEC certainly remember that period very well. Barry, thanks so much for taking the time. Thank you.
Yahoo
36 minutes ago
- Yahoo
Alinea is helping Gen Z get started on their investing journey
Alinea, an investment platform geared toward younger Gen Z investors, has secured $10.4 million in April in its Series A funding round led by Play Ventures. Alinea Invest Co-Founders and Co-CEOs Anam Lakhani and Eve Halimi sit down in studio with Wealth's Allie Canal to talk about their experiences interning on Wall Street and their platform's tools in educating and guiding their peers in investing within their means. To watch more expert insights and analysis on the latest market action, check out more Wealth here. Inicia sesión para acceder a tu portafolio
