-- BlackRock Inc., Citadel Securities and other investors are backing an upstart Texas stock market to challenge to the New York Stock Exchange and Nasdaq Inc.Stock Pickers Defy Wall Street Norm to Risk It All on a Few Bets
“The Texas Stock Exchange will focus on enabling U.S. and global companies to access U.S. equity capital markets and will provide a venue to trade and list public companies and the growing universe of exchange-traded products,” the TXSE said on its website. The TXSE is aiming to handle its first trades in 2025 and host its first listing in 2026, Lee told the Journal. But any effort to take on the NYSE and Nasdaq will face daunting challenges, and other upstart exchanges have faced significant hurdles in efforts to muscle in on established markets.
"The current upcycle started in late'23, so we are only in quarter 3, implying strength likely till mid-26E," Bank of America wrote on Monday.Emails show Elon Musk diverted a $500 million shipment of Nvidia chips intended for Tesla to X instead
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