Day Trading Has Replaced Sports Betting as America’s Pastime

Day Trading Has Replaced Sports Betting as America’s Pastime

The day-trading trend has been powered both by changes in the online brokerage business and the coronavirus crisis. That, along with confidence among these small traders that stocks’ plunge in March would elicit forceful action by the Federal Reserve to reverse the declines, persuaded them to get in on the expected bounce. First, spurred by the upstart app-based Robinhood trading platform aimed at millennials and Gen Zers, zero commissions became the rule one embraced last year by giants (ticker: SCHW), Fidelity Investments, Webull, (ETFC), and (IBKR).

More recently, Schwab and Fidelity announced that they would follow another innovation of this upstart permitting trades of fractional shares, letting small guys get a piece of highflying stocks priced in the hundreds or thousands of dollars. As a Robin hood ad touted, “Got .3 shares of Tesla stock today. Little by little.

And E*Trade, wary of all the money coming from inexperienced investors, is running ads showing bears shopping in a supermarket, with the message that if this is your idea of a bear market, trading isn’t for you.

Baidu Rallies as Earnings Soar Past Street Estimates

Baidu shares are trading higher after the China-based search-engine and artificial-intelligence-software company posted better-than-expected results for the March quarter. Baidu (ticker: BIDU) reported revenue of $3.18 billion, down 7% from a year ago, but ahead of the Wall Street analyst consensus at $3.1 billion. Adjusted profits of $1.25 a share were well ahead of the 57 cents the Street expected. Baidu had projected revenue for the quarter of $3 billion to $3.3 billion. General Electric’s (GE) Unit Receives Wind Turbine Contract.

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May 22, 2020, 8:06 PM GMT+5:30

GE News Today at, GE unit, GE Renewable Energy, yesterday announced that it has received a contract to supply onshore wind turbines to Powerica Ltd. Financial terms of the contract were not disclosed by the parties involved.

It is worth noting here that General Electric’s share price increased 0.9% on May 21, eventually closing the trading session at $6.48. Powerica engages in providing power solutions for standby, prime power, and conventional diesel-related applications. Also, it owns as many as 11 wind farms in Tamil Nadu and Gujarat.

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As noted, GE Renewable Energy will supply 38 units of 2.7-132 onshore wind turbines to Powerica. Of these, 19 onshore wind turbines will be delivered at Powerica’s wind farm based in Rajkot while the rest will be supplied to the Khambaliya wind farm. Both projects can collectively generate 102.6 MW of energy. You can also check olli stock at