The Federal Reserve raised interest rates again on May 3, 2023, by a quarter point, making it the Fed’s 10th rate hike since March 2022 in an ongoing fight to tame inflation. These rate hikes have been reverberating through the
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Is First Republic Bank’s failure sign of a slow-motion banking crisis?
First Republic Bank was the second-largest bank failure in US history. More failures could be on the way. Insights from Bank of America Eminent Scholar Mark Flannery inform this story. Read more in Vox.
Uncertain Markets Have Startups Rethinking IPOs
Some company founders say their new goal is to build a profitable business and buy out their backers. Not all investors are on board. Insights from Cordell Eminent Scholar Jay Ritter inform this story. Read more in The Wall Street Journal.
Meta’s Head of IR Is Leaving for Fanatics. It’s a Step Toward an IPO for the Sports Unicorn.
Though the IPO market is still ice cold, a high-profile unicorn just checked another box as it readies for an eventual public market debut. Insights from Cordell Eminent Scholar Jay Ritter inform this story. Read more in Barron’s. [Subscription required.]
Ares debuts second SPAC IPO in uncertain times but raises less capital than the first
Cordell Eminent Scholar Jay Ritter informs this story about Ares Acquisition Corp. II, which is the largest special purpose acquisition company by total dollar proceeding to go public since January 2022. Read more in this story from MarketWatch.
First Republic Is Hanging On for Dear Life. Where Does the Bank Go From Here?
First Republic bank is under serious pressure after its latest quarterly earnings further sunk its stock, triggering fresh speculation about what options, if any, remain for the financial institution to survive. “I’m a little surprised they’ve made it til Thursday
SPACs Delivered Easy Money, but Now Companies Are Running Out
Research data from Cordell Eminent Scholar Jay Ritter informs this story about how businesses are burning through cash raised in SPAC deals with few ways to fill the gap. Read more in this story from the Wall Street Journal.
Retail investors play a losing game with complex options, according to research
GAINESVILLE, Fla. – In 2018, the Robinhood fintech app made a change that lowered the barrier to investing in the stock market – reducing the commission and contract fee for buying and selling complex (multi-leg) options to zero. Other platforms
More U.S. Tech Companies are Adopting Unequal Dual-Class Voting Structures
Research insights from Cordell Eminent Scholar Jay Ritter inform this story on how dual-class structures have become much more prevalent among U.S. tech firms. Read more in this story from Visual Capitalist.
5 policies that could make future bank failures less likely or severe
The abrupt failures of Silicon Valley Bank and Signature Bank and subsequent concerns about the stability of other banks have reignited a fierce debate among lawmakers, the financial industry, the Biden administration and former government officials about an array of
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