By Reuters Staff
1 Min Read
(Reuters) - Shares of Lizhi Inc rose as much as 45% on Tuesday, as short-seller Citron Research set a price target of $30 for the Chinese audio mobile app developer.
The price target represented an upside of over 184% to the stock’s closing price on Monday. Lizhi’s shares were up 27.5% at $13.44.
Lizhi is a cross-section of social media app Clubhouse and gaming firm Roblox Corp. Its audio-based social platform Tiya has now expanded into dating, Citron said, pointing its Twitter followers to a video supposedly demonstrating the new feature.
Reporting by Praveen Paramasivam in Bengaluru; Editing by Krishna Chandra Eluri
By Reuters Staff
1 Min Read
FILE PHOTO: GameStop logo is seen near displayed stock graph in this illustration taken February 2, 2021. REUTERS/Dado Ruvic/Illustration
(Reuters) - Shares of GameStop Corp slid further in early trade on Tuesday, continuing a slump that has seen the videogame retailer’s stock shed a third of its value so far this week.
The company’s shares were down 16.4% at $184, on track for their worst weekly performance since early February, with a drop of more than 30% since Friday’s close.
Other so-called meme stocks, popular with online retail traders, declined early in Tuesday’s session, with cinema operator AMC Entertainment Holdings Inc down 8.6%, while headphones maker Koss Corp fell 7.1%.
Investors have nudged their cash allocations higher, suggesting a slight increase in concerns that inflation and "taper tantrums" could topple a record rally in financial markets, BofA's March fund manager survey showed on Tuesday.
Volkswagen's shares surged more than 9% on Tuesday, lifting its market value towards $150 billion as the world's second-largest carmaker gave more details about its ambitious expansion in electric driving.
By Reuters Staff
2 Min Read
AMSTERDAM (Reuters) - ABN Amro shares fell 4% in early trading in Amsterdam on Monday, following reports that the Dutch bank might face a higher-than-expected penalty in an ongoing money laundering investigation.
FILE PHOTO: ABN AMRO logo is seen at the headquarters in Amsterdam, Netherlands May 14, 2019. REUTERS/Piroschka van de Wouw
The bank’s annual report published last week described an investigation by Dutch prosecutors, started in September 2019, which was broader than previously stated. It said it was now also suspected of “culpable money laundering”.
Previously, the allegations had been limited to ABN failing to spot accounts involved in money laundering, failing to end relations with suspicious clients and failing to report such transactions to the relevant authorities.