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Reddit Stock Surges: Is Investor Appetite for Loss-Making Companies Returning? By Investing.com

Reddit Stock Surges: Is Investor Appetite for Loss-Making Companies Returning? By Investing.com
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Reddit Ignites Mall Stock and Fund Cashes Out $500 Million

Reddit Ignites Mall Stock and Fund Cashes Out $500 Million
Bloomberg
1/29/2021
Paula Sambo
© Bloomberg
Reddit Inc. signage is displayed on a smartphone in an arranged photograph taken in the Brooklyn borough of New York, U.S., on Tuesday, June 30, 2020.
(Bloomberg) The largest shareholder in mall owner Macerich Co. sold its entire holding for nearly $500 million when the stock soared after being touted on Reddit.
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Ontario Teachers’ Pension Plan sold 24.56 million shares on Wednesday at an average price of $20.25 a share, according to details in an amended 13D. The Canadian fund had owned 16.4% of the company, according to data complied by Bloomberg. ....

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GameStop Value Surges Past $10 Billion as Shares Nearly Double

GameStop Value Surges Past $10 Billion as Shares Nearly Double
Bloomberg
1/27/2021
Bailey Lipschultz
(Bloomberg) The skyward march in GameStop Corp. accelerated Tuesday, its stock nearly doubling during exchange hours and then surging another 50% after being name checked in a tweet by Elon Musk. Its market value flew past the $10 billion mark via a year-to-date rally that is pushing 700%.
Thanks to the gain, GameStop is now worth more than 10% of S&P 500 stocks including American Airlines Group Inc., Under Armour Inc. and Invesco Ltd. It started the year with a market capitalization of $1.2 billion. Shares of the U.S. company listed on German exchange Tradegate gained 106% to $306 in early trading on Wednesday compared with Tuesday’s U.S. closing price of $147.98. ....

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