CNBC After Hours
CNBC After Hours

FAA issues new zero tolerance order against unruly airline passengers: CNBC After Hours

FAA issues new zero tolerance order against unruly airline passengers: CNBC...'s MacKenzie Sigalos brings you the day's top business news headlines. On today's show, CNBC's Phil LeBeau breaks down the FAA's unusually strict move to immediately launch legal enforcement action against all disruptive airline passengers in the wake of the Capitol riots. Plus, as Petco and Poshmark debut on the public market, CNBC's Leslie Picker highlights the historically high IPO deal volume in the opening weeks of 2021.

Key House Democrats urge FAA to crack down on unruly travelers, rioters ahead of Biden's inauguration

Two key House Democrats on Monday urged the Federal Aviation Administration to crack down on unruly travelers and ensure that participants in last week's riot at the U.S. Capitol don't fly.

Their comments come ahead of President-elect Joe Biden's inauguration and after reports of disruptions on board Washington, D.C.-bound flights ahead of Wednesday's riot at the U.S. Capitol and other flights out of the area afterward. The incidents involved pro-Trump chanting, passenger arguments and refusal to wear masks. Masks are required to fly on U.S. airlines.

Online clothing reseller Poshmark closes up more than 140% on first day of trading

Shares of online clothing reseller Poshmark ended the day up more than 141% in the company's market debut Thursday.

The stock began trading at $97.50 per share. On Wednesday, Poshmark priced its IPO at $42 a share, giving it an initial valuation of more than $3 billion.

The company previously said it expected to sell shares at between $35 and $39. It was valued at nearly $600 million in its last round, a series D in November 2017.

Poshmark, founded in 2011, is an internet marketplace for second-hand clothing, shoes and accessories. Like eBay and Etsy, Poshmark connects buyers with sellers, who often list items from their own closet. Poshmark makes money by taking a cut of every transaction.

Crypto investment firm Grayscale sees 900% jump in assets to $20 billion amid bitcoin frenzy

Grayscale saw its assets under management skyrocket as Wall Street used it as a proxy to invest in bitcoin.

The New York-based investment firm kicked off last year with $2 billion in assets and ended with more than $20.2 billion. That 900% increase was driven by demand from institutional investors such as hedge funds, endowments and pension funds, the company said in a quarterly report Thursday.

Grayscale's Bitcoin Trust became a popular, publicly traded way for investors to get exposure to cryptocurrency without owning the coins themselves. The investment product ballooned from $1.8 billion to $17.5 billion in assets year over year.