We’ve moved into a “different sort of environment, one that is going to be more of a balance between risk and reward.”
The bank will give away all proceeds from its participation in the Payroll Protection Program.
Each of these phases reveals a puzzling association with the news, as the lagged market reaction is filtered through investor reactions and stories.
Palihapitiya argued that by putting that money directly in the hands of consumers, it would result in increased spending of those excess dollars.