My top 10 things to watch Friday, May 17 1. Wall Street heads for a flat open Friday, tracking to complete a strong week that was kicked into high gear Wednesday on a cooler-than-expected April consumer price index. The S & P 500 and the Nasdaq hit records again during Thursday’s session but closed slightly … Read more
The trading floor of the New York Stock Exchange prepares for the social media platform Reddit’s initial public offering in New York City on March 21, 2024. Spencer Platt | Getty Images Reddit shares surged 11% in extended trading on Thursday after the social media company announced a partnership with OpenAI that will allow the … Read more
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 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
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
After Reddit’s first earnings report post-IPO, CEO Steve Huffman told CNBC’s Jim Cramer that his company is commercial by nature, saying that both users and advertisers are drawn to the platform. “Reddit is, I think, inherently commercial in a maybe non-obvious way,” Huffman said. “People are on Reddit talking about what they love to do … Read more
Reddit CEO Steve Huffman hugs mascot Snoo as Reddit begins trading on the New York Stock Exchange (NYSE) in New York on March 21, 2024. Timothy A. Clary | AFP | Getty Images Reddit shares rallied in extended trading on Tuesday after the company released quarterly results for the first time since its IPO in … Read more
CNBC’s Jim Cramer on Friday guided investors through the upcoming earnings-packed schedule on Wall Street, saying to focus on reports from companies such as Uber, Disney and Warner Bros. Discovery. Since April’s labor report was weaker than expected, he said investors can worry less about the Federal Reserve’s next move. “Now that it’s clear the … Read more
Sam Altman, CEO of OpenAI, during a panel session at the World Economic Forum in Davos, Switzerland, on Jan. 18, 2024. Stefan Wermuth | Bloomberg | Getty Images Eight U.S. newspaper publishers filed suit against Microsoft and OpenAI in a New York federal court on Tuesday, claiming the technology companies reuse their articles without permission … Read more
Following a long period of waiting, “the IPO market’s back.” That’s according to Colin Stewart, Morgan Stanley’s global head of technology equity capital markets. In an interview with CNBC’s “TechCheck” on Monday, Stewart said 10 to 15 more tech companies could go public before the end of 2024, with an even “better year” in store … Read more
