Markets

A cannabis venture, which counts David Beckham among its investors, has seen its share price rise more than four-fold during its London stock market debut. Cellular Goods, which wants to sell skincare and topical creams using biosynthetic cannabinoids, saw shares climb from their offer price of 5p to above 20p when the opening price was declared on Friday. The flotation, which was 13-times oversubscribed, was aimed at raising £13m for development work and expansion after City rules were changed last year to allow cannabis-linked listings for medicinal ventures. Sky News revealed earlier this month that Cellular would be the first company of its kind to take advantage of the relaxation of the criteria through the Initial Public Offering (IPO). The success of the launch means Beckham's holding has surged in value as a result. Advertisement The former Manchester United and England footballer's DB Ventures vehicle had a 5% stake in advance of the … [Read more...] about David Beckham-backed cannabis venture scores dizzy high on market debut

A 19-year-old who taught himself how to trade stocks after watching videos on YouTube says he has now turned his original £200 investment into a portfolio worth more than £200,000 in under a year. The stock market feels more accessible than ever to those on the outside, with information shared freely on social media and recent mainstream interest sparked by a Reddit movement that inflated the stock price of GameStop to fight back against wealthy hedge funds. But Adam Mlamali hasn't simply jumped on a trend hoping to make quick money by copying others; instead he's managed to reach a level of success few achieve through his own in-depth analysis and investing in causes he truly believes in. While still at school in Milton Keynes and studying for A-Levels in business studies and computer science, Adam set up an online store selling jewellery as his first business venture, and its success gave him confidence to explore other opportunities. Videos on YouTube breaking down the stock … [Read more...] about ‘I taught myself to trade stocks and now I’ve turned £200 into £200,000 at 19 years old’

A so-called "blank cheque" company set up by a group of financiers is weighing a merger with Lombard International, one of the largest UK-based wealth management groups. Sky News has learnt that Kingswood Acquisition Corp, which listed in New York late last year, is among a number of suitors expected to table bids for Lombard in the coming days. If successful, Kingswood's merger with Lombard would be among the first examples of a UK-based financial services business listing in the US via a special purpose acquisition company (SPAC). City sources said that Apollo Global Management was among the other likely bidders for Lombard, which has been owned by Blackstone since 2014. Analysts have suggested that the wealth manager, which had more than €47bn in assets under administration last June, could fetch around €700m. Advertisement One source said Blackstone was expected to proceed towards signing a formal deal later in the spring, with other bidders also … [Read more...] about Kingswood SPAC and Apollo among suitors for Blackstone’s Lombard

BILL GATES has issued a stark warning to anyone thinking of dipping their toes into the murky world of Bitcoin. In a recent interview, the Microsoft co-founder said that the dangers of investing in the cryptocurrency mean it's only suitable for the super-rich. Speaking to Bloomberg , Gates revealed that he fretted traders without much cash to spare are taking a huge financial risk. Having shot up more than 400 per cent over the past year, Bitcoin has become increasingly mainstream. Recently, billionaire Tesla boss Elon Musk sparked fresh interest in the digital dinero after he described it as "slightly better" than real cash . Musk invested $1.5billion in Bitcoin through Tesla earlier this month. Gates – the world's third richest man behind Musk and Amazon founder Jeff Bezos – warned of getting swept up in the "mania" surrounding Bitcoin. "Elon has tonnes of money and he's very sophisticated, so I don't worry that his Bitcoin will sort of randomly go up or … [Read more...] about Bill Gates warns Bitcoin fans to AVOID buying the cryptocurrency unless they’re super rich

WITH gyms closed yet again, we couldn't think of a better time to test out the new Wahoo multisport watch. The new ELEMNT RIVAL GPS watch has been designed with triathletes in mind, and Wahoo can count the Brownlee brothers, Alistair and Johnny, amongst those trusting the device to aid their training. Released in late 2020, Wahoo fans have been long awaiting the release of a Wahoo watch. But was it worth the wait? Wahoo ELEMNT RIVAL, £349.99, Wiggle - buy here Wahoo RIVAL Watch Review: Quick Summary First and foremost, we should mention that this isn't a smartwatch (in the traditional sense of the word, anyway) and nor does it pretend to be. If you're looking for a watch which plays music and has built-in coaching and contactless payments, then this isn't the watch for you. However, if you're after a multisport watch which will provide you with detailed data on metrics such as heart rate, elevation changes, and GPS based distance, time and cadence, then read on. … [Read more...] about Wahoo ELEMNT RIVAL Watch Review