Almost three decades ago, Sunil Vachani borrowed $35,000 so he could start making 14-inch television sets in a rented shed outside New Delhi. It was an unconventional choice given India, though renowned for software and services, had long lagged behind in manufacturing.
Almost three decades ago, Sunil Vachani borrowed $35,000 so he could start making 14-inch television sets in a rented shed outside New Delhi. It was an unconventional choice given India, though renowned for software and services, had long lagged behind in manufacturing. Today, Vachani’s startup has grown into a sprawling electronics empire. His Dixon Technologies boasts a market value of more than $2.5 billion and the capacity to produce about 50 million smartphones this year. It’s an early indicator of the country’s opportunities and challenges in building a sophisticated manufacturing sector, a top priority for Prime Minister Narendra Modi.
Reddit Inc. Chief Executive Officer Steve Huffman said on Thursday that the WallStreetBets forum is “by no means perfect but they’ve been well in the bounds of our content policy.”
Robinhood Markets Inc. and other online brokerages curbed trading in GameStop and AMC Entertainment Holdings Inc. on Thursday after users in Reddit’s WallStreetBets forum appeared to send the stocks surging.
GameStop shows rising power of retail traders: Reddit co-founder
Priya Anand, Bloomberg News VIDEO SIGN OUT
Reddit Inc.âs unprecedented influence on GameStop Corp. stock shows that markets must adapt to a world where retail investors are gaining some of the power big financial firms have long held, according to Alexis Ohanian, co-founder of the online forum.
âThis is something, I think, for a lot of people, that was a statement as much as an investment,â Ohanian, who left Redditâs board last year, told Bloomberg Television on Thursday. âIâd equate it to, like, folks voting with their dollars in order to get back at or make a statement towards big finance.â