Over the past year, Big Pharma proved what the industry can achieve when it works together. Major pharmaceutical companies have set aside their differences to produce the Covid-19 vaccine. Instead of competing over disease treatments and high dollar medications, pharma players turned from foe to friends during the pandemic. Up and down the supply chain, big names in the pharma industry are teaming up to meet Covid-19 vaccine production demands. (Lopez, Bloomberg).
Read MoreNew York City (“NYC”) announced, the week of January 25th, 2021, three of its five public employee pension funds will pull out a collective $4 billion previously invested in fossil fuel companies. (Alex Wittenberg, Bloomberg). According to city officials, this divestment from fossil fuels is not only one of the first in our nation but is expected to be one of the largest environmentally conscious divestment efforts in the world. (Rachel Koning Beals, MarketWatch). The million-dollar question, or better yet, the $4 billion question is: Is it acceptable for custodians of these massive funds to risk losing profits for the beneficiaries of the fund over a moral disagreement with the investment?
Read MoreBitcoin and other cryptocurrencies have increased in popularity since Bitcoin was released in 2009, yet the cryptocurrency market remains unpredictable and volatile. Apps like Robinhood and influential people like Elon Musk have sky-rocketed the accessibility and demand for cryptocurrency in recent months. (Browne, CNBC). In a swing that paralleled the GameStop buying frenzy, a cryptocurrency called “Dogecoin” spiked as much as 800% in a single day. (Id.). Following the influx of Dogecoin buyers, Robinhood temporarily halted instant buying power for crypto to restrict trading. (Id.). Robinhood’s decision to restrict trading was contentious, but the decision exposed a major regulatory gap in both the public and private sectors of cryptocurrency trading.
Read MoreEnding with the conclusion of the Georgia Senate runoff elections on January 5th and resulting in control of the White House and both chambers of Congress, a Democratic election trifecta has created optimism within the cannabis industry for federal reform, with investors eager to capitalize on this momentum. (John Rebchook, Marijuana Business Daily). In wake of the Democrats taking control of the Senate, the market is investing in the improved probability for the federal legalization of cannabis, the end goal of a long journey that formally began in 2012. Id.
Read MoreOne of the newest industries to gain a foothold in the United States and abroad is the cannabis industry—which has shifted from a cartel-run black market to a legal industry in 15 states (and Washington, D.C.), and decriminalized in 16 more states. (DISA, Map of Marijuana Legality by State). The market for legal marijuana is growing so fast that one study estimates it could be worth over $70 billion by 2027. (Grand View Research, Legal Marijuana Market Size Worth $73.6 Billion By 2027). Yet despite its potential for growth, the marijuana industry still faces a lack of access to capital and banking that might prove essential to its ability to thrive.
Read MoreAs the economy progresses into an age marked by the rise of streaming services and the collapse of brick-and-mortar empires like Blockbuster Video, consumers have swiftly adapted and embraced new technology. GameStop, a once thriving video game retailer with storefronts at many local malls, is suffering a similar fate. In December 2020, the video game chain announced that it would close up to 1,000 stores by the end of its fiscal year in March 2021. (Lauren Gray, Yahoo!). Even so, in January 2021, many investors woke to news headlines declaring a GameStop stock (“GME”) buying craze. Within six days, GME’s price soared from $43.03 on January 21st to $347.51 on January 27th, a 708% increase. (Google Finance). What happened?
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