Associated Press
DALLAS Just how bad was 2020 for the airline industry? The six biggest U.S. airlines lost $34 billion, and Southwest suffered its first full-year loss since Richard Nixon was president and gasoline sold for 36 cents a gallon.
It was a disaster for airlines, worse than 9/11 or the global financial crisis some very small carriers didn’t survive it and the new year is off to a grim start.
On Thursday, Southwest, American and JetBlue reported that they lost a combined $3.5 billion in the final three months of the year. All issued dismal revenue outlooks for the current quarter that echoed similar pessimism from Delta, United and Alaska, which posted financial results earlier.
GameStop Rout Erases $27 Billion as Reddit Favorites Tumble
Bloomberg 2/2/2021 Bailey Lipschultz
(Bloomberg) GameStop Corp.’s rally came to a screeching halt this week as the shares had their biggest one-day loss on record, erasing more than $27 billion in market value from their high.
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The stock, which has been the poster child for Redditors looking to squeeze short sellers, fell 60% Tuesday, closing below $100 for the first time in a week. Several other Reddit favorites including movie-theater chain AMC Entertainment Holdings Inc. and clothing retailer Express Inc. also tumbled.
GameStop fluctuated around its $90 a share closing level in after-hours trading.
GameStop share price breaks below $100 as rout erases $28 billion
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GameStop share price breaks below $100 as rout erases $28 billionBy Paul Jarvis & Bailey Lipschultz, Bloomberg
Last Updated: Feb 02, 2021, 09:37 PM IST
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Apart from GameStop, other Reddit meme stocks also tumbled AMC Entertainment Holdings fell 53% and Express Inc. declined 43% indicating an unwind of the short squeeze.
AP
GameStop Corp.’s rally came to a screeching halt this week as its share price dropped below the $100 milestone level.
The stock tumbled to $75 at 10:49 am 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. 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.
GameStop breaks below $100 as rout erases $28 billion in value
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Last Updated: Feb 03, 2021, 09:10 AM IST
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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.
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By Paul Jarvis and Bailey Lipschultz
GameStop Corp.’s rally came to a screeching halt this week as the shares dropped below the $100 milestone level.
GameStop Rout Erases $27 Billion as Reddit Favorites Tumble
Bloomberg 2/2/2021 Bailey Lipschultz
(Bloomberg) GameStop Corp.’s rally came to a screeching halt this week as the shares had their biggest one-day loss on record, erasing more than $27 billion in market value from their high.
Popular Searches
The stock, which has been the poster child for Redditors looking to squeeze short sellers, fell 60% Tuesday, closing below $100 for the first time in a week. Several other Reddit favorites including movie-theater chain AMC Entertainment Holdings Inc. and clothing retailer Express Inc. also tumbled.
GameStop fluctuated around its $90 a share closing level in after-hours trading.