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The GameStop surge is often cast as a triumph of amateurs over professionals. Which it was, to a degree. But it also was a trade that pitted professionals against other professionals and few have made more money than Senvest Management LLC, ....
GameStop’s wild trading day: Massive price spike, stunning drop, double-digit bounceback The Grapevine-based video game retailer has become a favorite this year of day traders. GameStop s corporate headquarters in Grapevine.(CHRIS HAMILTON / 78296) By The Washington Post via Bloomberg 9:44 AM on Jan 25, 2021 CST GameStop shares spiked more than 140% Monday, forcing several trading pauses and extending a staggering rally sparked by the passions of retail investors on social media betting against the institutional wisdom of Wall Street. But that frenzied optimism flipped by late morning, sending the stock briefly into negative territory before it did another U-turn. It was trading up about 12%, around $73 a share, by early afternoon. ....
GameStop’s Volatile Rally Smashes Wall Street Price Targets Bloomberg 1/25/2021 Joanna Ossinger and Bailey Lipschultz (Bloomberg) To see how far GameStop Corp. has outrun anyone’s ability to render sensible analysis, consider what its current dizzying rally has done to Wall Street’s best guesses of its value. Now perched close to $77 a share, hoisted by a short squeeze ignited and arguably organized in chat rooms, the game retailer’s stock is about $63 above the average forecast of equity handicappers tracked by Bloomberg. The ratio between the two is by far the biggest in the Russell 3000 and jumped for a third day, as crazed trading capped a stretch in which the 37-year-old company burned bears who had shorted 139% of its shares. ....
GameStop s volatile rally smashes Wall Street price targets Joanna Ossinger and Bailey Lipschultz, Bloomberg News GameStop continues to surge surpassing price targets VIDEO SIGN OUT To see how far GameStop Corp. has outrun anyoneâs ability to render sensible analysis, consider what its current dizzying rally has done to Wall Streetâs best guesses of its value. Now perched close to US$75 a share, hoisted by a short squeeze ignited and arguably organized in chat rooms, the game retailerâs stock is about US$60 above the average forecast of equity handicappers tracked by Bloomberg. The ratio between the two is by far the biggest in the Russell 3000 and jumped for a third day, as crazed trading capped a stretch in which the 37-year-old company burned bears who had shorted 139 per cent of its shares. ....
The Pandemic Holiday Shopping Season Showed Us What The Future Of Retail Looks Like Bisnow A curbisde pickup reservation sign at an Atlanta Bread Co. in suburban Atlanta. Retailers that offered curbside pickup saw a 40% increase in demand for the service during the holiday season, according to a recent Adobe Analytics study. Already the pandemic was pumping up online sales for brick-and-mortar retailers that had curbside services, from 15% of all online sales at the onset of the pandemic to 25%, according to Adobe. Retailers, particularly some of the nation’s largest, like Dick’s Sporting Goods and Target, especially benefited from retrofitting stores to offer options like curbside pickups, drive-thru and in-store pickups with online sales. ....