The ‘Apple effect’ causes a stock to soar, then come falling back down to earth all too quickly. Facebook might have a problem keeping millennials engaged. And a stocks trading app is promising free cryptocurrency trades very soon.
From Google Trends, a wild ride on the markets for Bellevue, Wash.-based eMagin. The components maker started its Monday with its name in the headlines, saying that Apple was a new investor. But that turned out to be fake news. eMagin says that it was just naming companies that it had conversations with at industry events. But some tech news sites misinterpreted that, assuming Apple had made an investment for OLED displays to be used in augmented reality glasses. As a result, eMagin’s stock 41 per cent in just a few hours. But by the end of the day, the bulls were pulling back.
Trending on Reddit, Facebook lost almost 3 million millennial users last year. According to eMarketer, the world’s biggest social network is also projected to lose more young users in 2018. It expects to see another 2.1 million users under the age of 25 leave the site this year. Note these are estimates, not actual data from Facebook. But it does reflect a common sentiment in the marketplace. Young people just don’t want to use the same social network that their parents are using.
Popular on Product Hunt, a new cryptocurrency exchange that promises no fees. Robinhood is a well-known stock trading app and it plans to offer Bitcoin, Ethereum, and other crypto transactions sometime in February. Crytpo trades with zero fees is a pretty appealing offer. Especially when Coinbase, the most popular cryptocurrency exchange on the market, charges transaction fees as high as four per cent. But how can Robinhood offer free trades? Here’s how it explains it from its stock trading launch four years ago:
I just hope that this Robinhood does a whole lot less stealing than its namesake. Even if it is from the rich.
That’s what’s trending today. Hashtag Trending is produced by IT World Canada. Today’s episode is brought to you by SAS, the world leader in advanced analytics and Official Analytics Partner of the Canadian Olympic Team.
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