The Robinhood Backlash | The Power Of Elon’s Tweets | America’s Best And Worst Banks

Plus: The NBA’s Highest-Paid Players 2021: LeBron, Curry, Durant Score Combined $235 Million

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Robinhood, the online brokerage app named after a legendary thief known for stealing from the rich to give to the poor, has been accused of protecting Wall Street elites following its reaction to the GameStop rally. But if you think Reddit users are influential, brace yourself for Elon Musk’s latest tweets. Speaking of Wall Street, check out our ranking of America’s best and worst banks.

In The News Today

NBC Universal’s digital platform Peacock has been a latecomer to the streaming wars, but it finally deployed its secret weapon: a cult American show about office life.

WeWork’s IPO dreams didn’t quite come to reality—but when all else fails, there is always a SPAC.

Top Take-Aways

The Robinhood brokerage app is facing two class-action lawsuits and the prospect of a congressional hearing after suspending trades of the so-called “meme stocks.” Limited trading will be able to resume today, as the platform reportedly raised $1 billion to deal with high trading volumes. 

The founder of the Reddit community that started it all compared the events of the past week to the Occupy Wall Street movement—the difference being, he said, the Occupy movement failed.

Qualtrics’ planned 2018 IPO didn’t go ahead, as SAP snapped up the company for $8 billion instead. But on Thursday cofounder Ryan Smith—now the owner of NBA team Utah Jazz—took his company public at last, a move that didn’t come without complexity.

There are more than 5,000 banks and savings institutions in the U.S., but assets are increasingly concentrated at the top. With that in mind, Forbes examined the financial data to gauge America’s Best and Worst Banks.

Elon Musk has once again proved the influence his Twitter account can have on the markets, sending the price of cryptocurrencies dogecoin and bitcoin skyrocketing with just a few simple tweets.

In the first earnings call since the death of its billionaire founder Sheldon Adelson, Las Vegas Sands listed its priorities for the coming year—the gambling giant is eyeing growth in Asia as well as expansion in the U.S.

With broadband inequality remaining an issue in the U.S. and the wider world, the World Economic Forum has recruited top corporate leaders across critical industries to launch the Edison Alliance.

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