@peter_IFAMAG reads Twitter so you don’t have to.
Thirteen people, including a former UK energy minister, are being sued for £178m in connection with alleged fraud at London Capital & Finance. Elsewhere on Twitter, another challenger bank gets a little more conventional, and pundits react to a bad day for tech stocks.
Big American tech stocks fell sharply yesterday.
Ugly day for options traders: A call with a $125 strike price on Apple, expiring tomorrow, fell 89%. A bullish wager for Tesla Inc. to reach $500 by Friday’s expiry lost 90%. A call on Zoom with a strike price of $420 became essentially worthless @marketshttps://t.co/53EAjUZKR1
— Sarah Ponczek (@SarahPonczek) September 3, 2020
Jerome A Powell had this to say.
Most Robinhood traders became investors today
— Jerome A Powell (@alifarhat79) September 3, 2020
Challenger bank Tandem had valuation downgraded to £90m and announced a change in direction.
BREAKING: Tandem scraps credit cards and due for major refocus. Pundits ask if this is the end of its road for it as a challenger bank, as it embraces a future as a "good boring lender" to consumers wanting home improvements and …. new boilers https://t.co/prehns2DLD
— Isabel Woodford (@i_woodford) September 3, 2020
The UK confirms plans to increase the age of access to private pensions.
UK confirms plan to extend age when people can access private pensions https://t.co/ZLXOXoBG25
— David Hearne, CFP® (@dontdelay) September 3, 2020
A fund manager at Germany’s third-largest asset manager suspended over suspected insider trading.
Blimey – funds manager at Germany’s third largest asset manager suspended over suspected insider trading. Scoop by @Bartz70Tim at Der Spiegel. The level of corruption among Germany’s financial elite is amazing….. https://t.co/CmJC20oWQ3
— Olaf Storbeck (@OlafStorbeck) September 3, 2020
And finally, the London Capital and finance story thickens. Now embroiled in the alleged fraud is a former UK energy minister, Mark Taber comments.
'The administrators of LCF have told individuals they are defendants in a lawsuit that will claim LCF’s purpose was to defraud bondholders.' https://t.co/SQILQM4Q6I
— Mark Taber (@MarkTaber_FII) September 4, 2020
What are your thoughts on these tweets?
Tweet your responses to @peter_IFAMAG