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Showing posts from January, 2021

Robinhood; Short Squeeze and Context in the News

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This is a fascinating story. I will continue to update this post with new information including published articles.  Updated Interview on SmartHer News - Friday Feb 5, 2021 " ... Reddit was the shiny stock..."            Here is the interview on YouTube << Click Here More to the story: "...Old Game by a Different Name...." "....There may be some big professionals in there in the GameStock trade to turn the crowd into a mob...."              CNBC Art Cashin.  Video here. From Wall Street Journal - Jan 29, 2021 Wall Street Journal - Options, Reddit and GameStop From SmartHer News - Last Saturday 1/30/2021 Great YouTune Video - SmartHer News From PitchBook News today -2/2/2021 Robinhood rakes in $2.4B more to weather trading chaos More than 1 million users are said to have downloaded Robinhood's app on Friday. (Justin Sullivan/Getty Images) Robinhood  has added $2.4 billion to its war chest after rai...

Stable Coins and Accounting - Issues for a New Digital Currency

 From the "Journal of Accountancy"; December 2020 "The AICPA on Thursday published non-authoritative guidance on issues related to the accounting for digital assets. The guidance, which consists of 13 questions and answers added to the free practice aid Accounting for and Auditing of Digital Assets , touches on topics including fair value, stablecoins, and how investment companies and broker-dealers should account for digital assets. The practice aid defines digital assets broadly as digital records, made using cryptography for verification and security purposes, on a distributed ledger. Examples of digital assets include the crypto asset bitcoin, which operates on the Bitcoin blockchain, and ether, which operates on the Ethereum blockchain. The new guidance is divided among the following five section titles: Meeting the Definition of an Investment Company When Engaging in Digital Asset Activities. Accounting by an Investment Company for Digital Assets It Holds as an Inv...