Bloomberg - Evening Briefing - Robinhood falls flat

Robinhood has been one of the big financial stories of 2021, what with its starring role as waves of day traders made life uncomfortable for Wall Street shorts. On Thursday though, it was time for the trading platform to feel the squeeze. Its shares dropped below its initial public offering price in its trading debut, arguably an embarrassment for a company that’s become synonymous with the rise of individual investors. Robinhood slid as much as 12% before climbing back closer to—but still below—the price in its $2.1 billion IPO. —David E. Rovella

Bloomberg is tracking the progress of coronavirus vaccines while mapping the pandemic worldwide. 

More than 90 chief executive officers, including those at Apple, Amazon and Facebook on Thursday urged Congress to pass a law offering a citizenship path to young immigrants brought illegally to the U.S. as children.

Didi Global surged on news the ride-hailing company is reportedly considering going private to placate Chinese regulators. Beijing has been considering serious, perhaps unprecedented, penalties for Didi, including forcing it to delist. 

Amazon’s second-quarter sales and forecast for the current period fell short of analyst expectations, suggesting the biggest online retailer’s rapid growth through the pandemic is waning as people revert to old shopping habits. Shares fell more than 6% in extended trading.

Trevor Milton, founder of electric vehicle maker Nikola, was indicted by a U.S. grand jury for allegedly making false statements to investors. The startup has had a tough time of it so far this year, after going public and then almost immediately facing questions about its production and technology.

Almost two-thirds of consulting firms say they’re short-staffed, and 1-in-5 are turning down work as a result. More than half of respondents to a survey said retention has become a bigger problem in 2021 compared with the end of last year, while about half said recruiting has also become more difficult.

U.S. President Joe Biden will require federal workers to prove they’ve been vaccinated or wear masks and submit to frequent coronavirus testing. New York City’s daily average cases passed 1,000 for the first time in almost three months. Israel will start giving third doses of the BioNTech-Pfizer vaccine to people over age 60, becoming the first country to widely roll out booster shots. Thailand’s resort island of Phuket will ban all domestic travelers and vehicles from entering the province from Aug. 3 to 16 as an outbreak worsens in the Southeast Asian nation. Here is the latest on the pandemic.

Brazilian President Jair Bolsonaro is accelerating the destruction of the Amazon rainforest—a critical bulwark against even-faster global warming—speeding it to the point of no return.  

• The U.S. economy is getting back to normal and markets like it.
• Bipartisan infrastructure deal has a jarring surprise for crypto fans.
• The pandemic has widened racial gaps in who gets a mortgage.
• Bitcoin miners just secured a windfall on tax savings.
• Scarlett Johansson sues Disney for streaming “Black Widow.”
• National Parks are so crowded that Congress is getting involved.
• This tycoon’s $6 billion windfall makes him the richest South Korean.

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“‘Can I get drunk on this?’ That’s the No. 1 question I get,” says Melissa Tavss, founder of Tipsy Scoop in New York. Bloomberg Pursuits reports how customers on the 8-year-old company’s website have to verify they’re older than 21 to peruse specialty flavors, including whiskey-infused dark chocolate with salted caramel or a mango-margarita sorbet, punched up with tequila and orange liqueur. They can reach 5% alcohol by volume.

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