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GameStop

GameStop shares climb on strong volume

Shares of retail traders’ darling GameStop jumped 12.5% in strong premarket trading volume on Wednesday, looking to...

Published 29 Nov, 2023 04:50pm

Technology

Shorts circle GameStop and AMC, sensing retail fatigue

NEW YORK: Bearish investors are ramping up bets against meme stocks GameStop Corp and AMC Entertainment Holdings...

Published 07 Jun, 2022 02:45pm

World

US House speaker Pelosi's stock trades attract growing following online

A year since a Reddit-driven retail trading frenzy rocked the markets and created the 'meme stock' phenomenon,...

Published 26 Jan, 2022 02:33pm

Business & Finance

'YOLO' generation of investors is ready for anything, even a crash

NEW YORK: Wall Street has been a booming place over the past year and a half even as the wider US economy has...

Published 30 Sep, 2021 10:09am

Markets

Nasdaq hits record high as Big Tech roars back

Amazon saw over $5.6 billion in total online sales in the United States on the first day of its Prime promotional event, according to Adobe Digital Economy Index.

Published 22 Jun, 2021 11:39pm

Markets

Meme stocks AMC, GameStop poised to end strong week on a high

AMC's shares were up 17.3% to $31.11 in US premarket trading on Friday, while those of video game retailer GameStop were 2% higher. GameStop, which was at the heart of the so-called "stonks" retail trading mania this year, is set for its best weekly gain since mid-March, up more than 43% so far.
On trading-focused social media site Stocktwits (ST), message volume related to AMC spiked by nearly 40%, with more than 97% of messages reflecting positive sentiment towards the stock.

Updated 28 May, 2021 05:26pm

Markets

GameStop’s strong stock performance triggered board director’s exit

NEW YORK: Hestia Capital Partners LP managing director Kurt Wolf joined GameStop Corp’s board to make the US video...

Published 12 Apr, 2021 03:59am

Business & Finance

More liquidity means more instability on Wall Street

The Archegos debacle has focused debate on swaps, derivative transactions that can allow big, high-risk bets with small upfront payments.

Updated 04 Apr, 2021 05:47pm

Markets

US stocks down

• Intel gains on $20bn chip expansion announcement • GameStop slumps on plans to sell shares • Energy stocks...

Published 26 Mar, 2021 05:22am

Business & Finance

GameStop shares gyrate as it reports mixed earnings

Investors are keen to see the influence of activist investor Ryan Cohen, a co-founder of online pet products shop Chewy who joined the board earlier this year.

Published 24 Mar, 2021 10:26am

Markets

Wednesday’s early trade: Dow hits record high

NEW YORK: US stocks jumped on Wednesday with the Dow hitting a record high, as data showed underlying consumer ...

Published 11 Mar, 2021 05:25am

Business & Finance

Reddit forums get behind Roblox ahead of stock launch

The company's stock was indicated to open between $60 and $65 per share, far above the reference price of $45 set by the New York Stock Exchange on Tuesday.
At the top end of the indicative range, Roblox would have a market value of around $36 billion.

Updated 11 Mar, 2021 12:48am

Markets

GameStop spikes as investors eye cryptic tweet by shareholder

Cohen's RC Ventures activist firm reached a settlement with GameStop in January, giving Cohen seats on the company's board.

Published 05 Mar, 2021 11:22am

Markets

Micro-cap stock surge shows investor risk taking, GameStop effect

The Russell Microcap index, whose components have a median market value of about $350 million, has climbed 26% nearly two months into 2021.
The micro-cap gauge ceded some gains during volatility earlier this week while other indexes held up better.

Published 25 Feb, 2021 09:16pm

Business & Finance

How the GameStop hearing unfolded?

GameStop rose more than 1,000% during two weeks as retail traders using the Reddit platform encouraged each other to pile in, socking it to hedge fund managers who were short the stock - a bet GameStop would fall.

Published 19 Feb, 2021 10:09am

Business & Finance

How GameStop missed out on capitalizing on the Reddit rally

The Grapevine, Texas-based company found itself at the epicenter of an unprecedented trading frenzy last month.
GameStop's market value soared from $1.4 billion on Jan. 11 to a peak of $33.7 billion on Jan. 28.

Published 11 Feb, 2021 08:48pm

Markets

Wall Street reaches all-time highs

NEW YORK: Wall Street reached all-time closing highs on Monday as investor optimism was stoked by prospects of a...

Published 10 Feb, 2021 04:12am

Business & Finance

Ads, GameStop raise Reddit price tag to $6bn in latest fundraising

Reddit was valued at $3 billion in its last round in February 2019, and the surge in its value follows a 90% jump in advertising revenue from a year ago.
We decided that now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products, and expanding into international markets.

Updated 09 Feb, 2021 10:02pm

Technology

Reddit to double its workforce after raising $250M

Reddit to grow its workforce by 100% over the course of this year after raising $250 million in a new funding round.

Updated 09 Feb, 2021 04:58pm

Technology

Just after GameStop frenzy, Reddit raises over $250mn in funding

“We have raised more than $250 million in Series E funding from existing and new investors. We decided that now was the right opportunity to make strategic investments in Reddit including video, advertising, consumer products, and expanding into international markets,” the company announced in a blog post.

Published 09 Feb, 2021 12:16pm

Markets

GameStop shares slump as Reddit rally ebbs

AMC shares dropped 10.54pc at $6.11 after hitting a session low of $5.75, its lowest level since January 26. Koss shares lost 5.66pc to trade at $18.85.

Published 08 Feb, 2021 11:25pm

Business & Finance

Tesla electrifies bitcoin with $1.5bn bet, car payments pledge

A well-known supporter of bitcoin, Chief Executive Officer Elon Musk has been weighing in regularly over the past week to a frenzy in retail investment.
I think we will see an acceleration of companies looking to allocate to Bitcoin now that Tesla has made the first move.

Published 08 Feb, 2021 07:50pm

Markets

Wall Street ‘predators’ make allies of political foes

NEW YORK: Recent stock market mayhem has done what appeals to rise above self-interest could not — gotten US...

Published 08 Feb, 2021 03:46am

Business & Finance

GameStop shares halt slide after Robinhood lifts trading curbs

The videogame retailer, the initial trigger for the market slugfest after gaining popularity on social media platform Reddit’s WallStreetBets, closed up 19.20% at $63.77 after hitting a session high of $95, although the wild gyrations seen in the past two weeks appeared to be easing.

Published 06 Feb, 2021 10:27am

Markets

US MIDDAY: Gold gains

NEW YORK: Gold rebounded above the $1,800 psychological level on Friday, helped by a retreat in the dollar and data...