Heading into a new trading week, here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend.
1. Cathie Wood Sees Bitcoin As Diversification Asset: Ark Invest CEO and founder Cathie Wood sees cryptocurrencies like Bitcoin (CRYPTO: BTC) and Ethereum (CRYPTO: ETH) as interesting assets for diversification purposes this year due to their “extremely low” correlation with other assets over the full market cycle. In the latest episode of Ark’s “In the Know” podcast, Wood also noted that hedge funds are increasingly becoming involved in Bitcoin and Ethereum.
2. Spotify Removes Joe Rogan Podcast Episodes: Spotify Technology S.A. (NYSE:SPOT) CEO Daniel Ek confirmed the removal of over 100 episodes of the “Joe Rogan Experience” podcast in a staff memo, as a backlash against Rogan’s racial slur intensified.
However, Ek added that Rogan chose to remove the podcast episodes from Spotify following a chat with Rogan’s team regarding some of the content of the latter’s show.
3. Dogecoin And Shiba Inu In Focus: Dogecoin (CRYPTO: DOGE) attracted the attention of cryptocurrency investors after the token’s official Twitter account revealed it now has over three million followers, making it the second largest cryptocurrency on the social media platform behind Bitcoin.
Meanwhile, Dogecoin’s rival Shiba Inu (CRYPTO: SHIB) traded almost 23% higher early Monday amid a plan by crypto entertainment company Bigger Entertainment to burn SHIB tokens on Feb. 14 — Valentine’s Day.
4. Alibaba Dips In Hong Kong: Shares of Alibaba Group Holding Limited (NYSE:BABA) fell in Hong Kong on Monday after the Chinese e-commerce giant filed in the U.S. to register one billion new American Depositary Shares (ADS). Each ADS represents eight ordinary shares of the company.
5. Ford To Cut F-150 Lightning Production: Ford Motor Co. (NYSE:F) plans to suspend or cut production at eight of its North American factories this week due to chip supply constraints, Benzinga reported, citing Reuters. This includes idling production of the F-150 Lightning pickup truck — one of the most-awaited EV launches of the year — at Ford's Kansas City plant.
What Else: Among other stories from the weekend, investors will want to check out the EV week in review, the U.S. Securities and Exchange Commission (SEC) delaying its decision on Grayscale Bitcoin Trust’s proposal to list a Bitcoin ETF, and the ten weirdest Academy achievements of all time.
Stunt comedy “Jackass Forever,” released by ViacomCBS Inc.’s (NASDAQ:VIAC) Paramount Pictures division, topped the U.S. box office chart with $23.5 million in ticket sales in its first weekend in theaters.
