A GameStop store operates in a strip mall in Chicago on March 16, 2023. Scott Olson | Getty Images GameStop and AMC logged further gains in premarket trading as the broader meme stock frenzy fizzled early on its third day, with Blackberry shares flat and Koss edging lower. Brick-and-mortar video game retailer GameStop was up … Read more
The US Department of Education sign hangs over the entrance to the federal building housing the agency’s headquarters in Washington, D.C., Feb. 9, 2024. J. David Ake | Getty Images The U.S. Department of Education announced Tuesday the interest rates on federal student loans for the 2024-2025 academic year. The interest rate on federal direct … Read more
Victor J. Blue | Getty Images News | Getty Images AMC Entertainment raised about $250 million of new equity capital, completing the sale Monday during the revived meme stock craze triggered by the return of “Roaring Kitty.” The movie theater operator sold 72.5 million shares in an at-the-market equity offering that it launched on March … Read more
A woman walks past the GameStop store inside the Susquehanna Valley Mall in Selinsgrove, Pennsylvania, on Jan. 27, 2021. Photo by Paul Weaver/SOPA Images/LightRocket via Getty Images GameStop and AMC are seeing big buying from mom-and-pop investors, but the purchases pale in comparison to the meme stock explosion seen three years ago. The video game … Read more
Fund manager Cole Smead has described the meme stock craze as “frankly stupid,” as day traders once again pile into GameStop and AMC. “It is gambling,” he said Tuesday on CNBC’s “Street Signs Europe.” Smead is the CEO of Smead Capital Management which has around $6 billion of assets under management. “You’ve got to remember … Read more
Skynesher | E+ | Getty Images Fewer homeowners have been taking on remodeling projects, reports show. But don’t mistake it for a slow market. The Leading Indicator of Remodeling Activity, an outlook measuring home improvement and repair spending on owner-occupied homes, peaked at 17.3% in the third quarter of 2022. The LIRA has been declining … Read more
It’s an exchange-traded fund designed to profit from higher rates. But even if the Federal Reserve starts to cut this year, Horizon Kinetics’ James Davolos thinks his firm’s Inflation Beneficiaries ETF (INFL) is in a sweet spot. “We’re actually going into the mature phase of inflation,” the firm’s portfolio manager Davolos told CNBC’s “ETF Edge” … Read more
At American Express, consumers are continuing to open high-fee credit cards and splurge on luxuries like travel. But for lending firm Upstart, there’s a strong interest in microloans as cash-strapped Americans try to scrape by. That juxtaposition underscores the growing picture of bifurcation among income brackets in America. And adds to an increasingly popular view … Read more
Hartford, Connecticut Sean Pavone | Istock | Getty Images When it comes to improving access to higher education, each state is largely left to its own devices. Some are trying a broader array of tactics than others. Connecticut, for example, recently rolled out several programs to establish pathways to college and lower the debt burden. … Read more
Artist Yu Shu creates sculptures of Charlie Munger. Courtesy: Yu Shu OMAHA, Neb. — A 24-inch tall, bronze bust sculpture of the late Charlie Munger became a conversation piece for guests who lodged at the Omaha Marriott last weekend for the Berkshire Hathaway annual meeting. The hotel, next to Berkshire-owned jewelry store Borsheims, was the … Read more
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