Page 7 - Bailey Lipschultz News Today

Meme stocks hitting the rocks as chat room investors get fried Arrogance and ignorance are an awful combination in any walk of life – but with investing, they become ruinous. That reality is playing out for millions of novice share market punters who jumped into US “meme stocks” with disastrous consequences. Meme stocks are listed equities whose underlying companies have poor fundamental and weak businesses whose share prices have been fuelled through social media chat rooms (mainly Reddi...

Quarles on banks taking risk — How the economy has changed

Wall Street CEOs prep for Round Two — Yellen gets smacked by Dem House Chair

GameStop rally fades a bit, as reports surface of search underway for new CEO The Grapevine-based video game company is said to be searching for a replacement for CEO George Sherman. An analyst Edward Woo threw cold water on GameStops hot streak when he wrote in a note to investors increasing digital sales for video-game publishers is a looming risk given GameStop’s minimal market share.(John Minchillo) GameStop Corp.’s shares fell on Monday, heading toward the longest losing streak in a y...

By Katie Greifeld, Sarah Ponczek, Paul Jarvis and Bailey Lipschultz GameStop Corp. soared in premaket trading Thursday as retail investors revived the surge in Reddit-favorite stocks, putting it on pace to reap $7.6 billion in market value over two days. The video-game retailer rose as much as 83% to $168 in New York. Among other favorites of traders populating Reddit forums, AMC Entertainment Inc. advanced 12% premarket after gaining 59% in the first three days of the week, while Koss Corp. su...

GameStop breaks below $100 as rout erases $28 billion in value SECTIONS Last Updated: Feb 03, 2021, 09:10 AM IST Share Synopsis The stock tumbled to $75 at 10:49 a.m. in New York, meaning it has now given up nearly 85% of the spectacular gains that were fueled by last month’s attack on short sellers. Reuters The video-game retailer’s market value has dwindled by more than $28 billion to $5.8 billion from a Thursday intraday peak, though the stock is still up more than 300% year-to-date. R...

GameStop Corp.’s wild trading continued Thursday amid trading restrictions on platforms such as Robinhood Markets. The shares swung between double-digit losses in gains in the opening minutes of New York trading after clients of Robinhood reported trading restrictions in high-flying stocks, including GameStop and AMC Entertainment Holdings Inc. Those stocks and others are “not supported” on Robinhood, according to a note on at least one of its platforms. Interactive Brokers has put AMC, G...

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