Shield AI is a defense-tech company that is developing autonomous software to enable collaborative teams of unmanned aircraft to operate in GPS- and RF-denied environments. The startup announced Thursday its S165 million Series E fundraising that achieved a valuation of $2.3 billion.
Steven A. Cohen, the founder of Point72 Asset Management, warned investors to be cautious about the current market environment. The fund manager suggested that the markets haven’t fully recovered from lows fueled by the coronavirus.
Coronavirus has paralyzed the global markets, with Europe experiencing its worst one-day downturn in history. The FTSE shed 10.8%, the DAX was off 12.2%, and the CAC shed 12.5%. Here in the United States, the New York Fed loaded more than $1 trillion and fired it into the Repo markets. If you remember that scene in Independence Day where the world fires a nuclear bomb at the alien space ship, only to see it bounce off with no impact… it was a lot like that.
Today, the DailyAlts Playbook talks about Coronavirus Stimulus, Biblical Warnings, Vertical Hedge Fund Neighborhoods, and Why Kyle Bass is Sitting on the Sidelines Right Now.
Coronavirus has hit one of Wall Street’s top financial shops. Multiple media outlets report that an employee at Point72’s Hudson Yard’s office has contracted Covid-19. The Wall Street Journal was the first to report the news, citing an internal email from the fund.