The Manipulative, Little Known Billionaire Who Nearly Ruined The Country’s Richest Black Person
Christopher Helman, 05 February 2021
Ever since Ford Motor Company began selling its Model T in 1908, few pieces of technology have been as important to car dealer profit margins as the DocuPad.
The 45-by-29-inch flat screen sits atop a salesman’s desk, giving him the ability to quickly coax customers through what would normally be mountains of paperwork. By enabling car buyers to check boxes with a stylus and sign contracts on the interactive screen, the DocuPad takes the friction out of a car salesman’s stock in trade—the upsell. Continue reading “Article: The Manipulative, Little Known Billionaire Who Nearly Ruined The Country’s Richest Black Person”
Tencent-backed ByteDance rival Kuaishou Technology (1024 HK) ripped +160% in its Hong Kong IPO today in the second-best IPO performance ever behind Alibaba’s +193% gain back in 2007 (BABA went private before going public again in 2014). The company raised $5.4B from investors. Yesterday we did a deep dive on the company, which you can access here.
As just about everyone knows by now, investors communicating on the Reddit forum WallStreetBets drove up the stock price of GameStop while openly discussing both their tactics and their reasoning. Some of them purchased GameStop shares as part of a strategy expressly intended to squeeze hedge funds that were shorting the stock. Others simply saw the stock as undervalued.
