We like to stay on top of the news. Here are some of the investing and stock market news articles we read this week. If you read something interesting too, share it! Email me at ariel@ibillionaire.com

MARKET NEWS

  • Mexico’s New Stock Exchange Rings Opening BellMexico’s second stock exchange, BIVA, launched on Wednesday in a bid to entice more companies to go public in Latin America’s No. 2 economy, increase investments and help spur sluggish economic growth.

 

STOCK NEWS

 

  • Facebook loses $120 billion in market cap after awful Q2 earnings:  On Wednesday when the market closed, Facebook stock was at an all-time high. Then they announced earnings – and revealed disappointing 2Q earnings and forecasts. The stock tumbled more than 20%, wiping up to $120bn off the company’s value, one of Facebook’s largest after-market drops ever.

 

 

 

 

 

  • The Winklevoss twins’ bitcoin ETF was rejected: In a 92-page decision released Thursday, the SEC was not persuaded that the twins and their company could protect investors from abuse and fraud. The agency said it would not approve the first-ever bitcoin ETF because the digital currency isn’t “resistant to manipulation.” The Winklevoss twins own cryptocurrency exchange Gemini Trust, where the ETF would’ve been traded on.