Traders work as Reddit’s logo is displayed, at the New York Stock Exchange (NYSE) in New York City, U.S., March 21, 2024. Brendan Mcdermid | Reuters Reddit shares popped 7% on Tuesday, climbing for a second straight day after retail traders kicked off a buying frenzy of so-called meme stocks. The stock closed at $62.34, … 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
Cars drive near an AMC Theatre on March 29, 2023 in New York City. Leonardo Munoz | View Press | Corbis News | Getty Images Can AMC Entertainment capitalize on a second meme craze? The stock, alongside GameStop, surged this week after “Roaring Kitty,” the man who inspired the massive short squeeze of 2021, posted … Read more
Every weekday the CNBC Investing Club with Jim Cramer holds a “Morning Meeting” livestream at 10:20 a.m. ET. Here’s a recap of Tuesday’s key moments. U.S. stocks were little changed Tuesday as the market digested hotter-than-expected inflation data. April’s producer price index print came in above estimates , further complicating the timeline for Federal Reserve … 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
A GameStop location on 6th Avenue in New York on March 23, 2021. View Press | Corbis News | Getty Images Shares of GameStop and AMC jumped around 40% in premarket trading on Tuesday, on track to extend gains after “Roaring Kitty,” the man at the center of the meme stock craze, posted online for … Read more
On Monday, Keith Gill, known online as “Roaring Kitty,” posted a picture on X — marking the first time he’s engaged with the social media platform in about three years. For most people, a return to social media wouldn’t be remarkable. But Gill isn’t most people. Between 2020 and 2021, he became one of the … Read more
A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange on March 29, 2022. Brendan McDermid | Reuters The jaw-dropping rally in GameStop on Monday caused losses approaching $1billion for short sellers, according to data from S3 Partners. With GameStop soaring 74%, short-selling hedge funds suffered a mark-to-market … Read more
My top 10 things to watch Monday, May 13 1. Stocks are set to begin the week higher ahead of key inflation releases on Tuesday and Wednesday. The data will offer a test for the quiet market rally we’re enjoying. The Dow, which on Friday wrapped up its best week of the year, is riding … Read more
A man passes by a GameStop location on 6th Avenue in New York, March 23, 2021. View Press | Corbis News | Getty Images GameStop shares rallied more than 80% on Monday after “Roaring Kitty,” the man who inspired the epic short squeeze of 2021, posted online for the first time in roughly three years. The post, … Read more
