Voting issues for meme stocks - Wall Street home-buying controversy - New-look fintechs
Good morning and welcome to Insider Finance. I'm Dan DeFrancesco, and here's what's on the agenda today:
- So-called meme stocks get the benefit of an influx of retail traders, but many of the new investors aren't participating in proxy voting.
- Executives at Stash, DailyPay, and HMBradley detail why they invested in new brands and logos.
- Medline's roughly $34 billion buyout could set the stage for a string of more large-scale M&A.
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Meme stock shareholders may have diamond hands, but they're not voting on things like exec pay and M&A deals. And that's creating a big headache.
Companies with large retail-investor bases face difficulties reaching a quorum in shareholder votes - but upstart digital investor-communications tools are looking to bridge that gap.
As fintechs come of age, they're upgrading brands and logos to move beyond their 'stick-it-to-the-man' roots
DailyPay and Stash recently underwent full redesigns, while HMBradley hired a creative director before even launching. Here's why fintechs are so keen to rework their looks.
Medline is financing its record LBO with roughly $17 billion from debt markets - and it could set the stage for a surge of massive buyouts
Bankers will look to bond and loan markets across multiple currencies to fund the deal. Here's what to expect.
Wall Street firms like BlackRock are snapping up every single American home they can find. Here are the 6 most important things to know about this trend pricing out everyday people.
A tweet has begun an outrage cycle by blaming BlackRock for big Wall Street investments in US homes. Here are six facts breaking down the market.
Dealmaker Jeff Sine has one of the most enviable client lists on Wall Street. Here's how he broke away from the pack to build a $1 billion business.
Jeff Sine is an under-the-radar dealmaker who is quietly one of the most trusted advisors to SoftBank CEO Masayoshi Son, as well as other corporate titans like Rupert Murdoch and Ari Emanuel. We took a deep dive into his investing empire.
Odd lots:
Morgan Stanley Hires Greg Weinberger Away From Credit Suisse (WSJ)
Did No One Hear Jamie Dimon Warn About Trading? (Bloomberg)
Plaid, Visa, and the best fintech deal that never happened (Fortune)