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GameStop, 'Reddit rally' stocks slide more, Yellen vows scrutiny - Netscape Money & Business

GameStop, 'Reddit rally' stocks slide more, Yellen vows scrutiny - Netscape Money & Business
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More QE not necessarily BoE's first choice, Broadbent says

LONDON (Reuters) - Buying more government bonds may not be the Bank of England's first choice if it needs to provide further stimulus to Britain's economy, ....

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GameStop stock slide accelerates; Yellen promises scrutiny

GameStop stock slide accelerates; Yellen promises scrutiny
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WRAPUP 5-GameStop stock slide accelerates; Yellen promises scrutiny

5 Min Read
(Reuters) - Shares of GameStop Corp and others favored recently by retail investors fell further on Thursday, while U.S. Treasury Secretary Janet Yellen said she needed to “understand deeply” the trading frenzy that has gripped Wall Street.
FILE PHOTO: GameStop stock graph is seen in front of the company s logo in this illustration taken February 2, 2021. REUTERS/Dado Ruvic/Illustration
A swarm of buying by amateur traders over the past two weeks sparked big moves in shares of companies that hedge funds had bet against. Some framed it as a battle between Wall Street and Main Street.
Many of the so-called “Reddit rally” stocks fell sharply this week. GameStop shares closed Thursday down 42% at $53.50, far from their peak of $483 a week ago. AMC Entertainment has lost about two-thirds of its value after two weeks of wild swings. ....

New York , United States , City Of , United Kingdom , Loretta Mester , Janet Yellen , Kim Forrest , Joice Alves , Chamath Palihapitiya , Saumyadeb Chakrabarty , Sagarika Jaisinghani , Susan Mathew , Craig Erlam , Lewis Krauskopf , Andrea Cicione , Tom Westbrook , Nick Zieminski , Aleksandra Michalska , Gamestop Corp , Thomson Reuters Trust Principles , Commodity Futures Trading Commission On , Federal Reserve Bank , Golden State Warriors , Koss Corp , Tesla Inc , Exchange Commission ,

GameStop stock slide accelerates; Yellen promises scrutiny - Netscape Money & Business

GameStop stock slide accelerates; Yellen promises scrutiny
By Tom Westbrook and Susan Mathew
Reuters
(Reuters) - The slide in shares of GameStop Corp and other recent favorites of retail investors deepened on Thursday, while U.S. Treasury Secretary Janet Yellen said she needed to understand deeply the trading frenzy that has gripped Wall Street.
A swarm of buying by amateur traders over the past two weeks sparked big moves in shares of companies that hedge funds had bet against in a confrontation some framed as a battle between Wall Street and Main Street.
Many of those stocks have notched sharp declines this week: GameStop shares were down 37% in mid-day trading at $58.39 versus a peak of $483 a week ago, while AMC s value has more than halved after two weeks of the battle that has pitched amateur traders against Wall Street institutions. ....

New York , United States , City Of , United Kingdom , Loretta Mester , Janet Yellen , Kim Forrest , Joice Alves , Chamath Palihapitiya , Saumyadeb Chakrabarty , Sagarika Jaisinghani , Susan Mathew , Craig Erlam , Andrea Cicione , Tom Westbrook , Nick Zieminski , Aleksandra Michalska , Gamestop Corp , Commodity Futures Trading Commission On , Federal Reserve Bank , Golden State Warriors , Koss Corp , Tesla Inc , Exchange Commission , Clover Health , Hindenburg Research ,