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
CNBC’s Jim Cramer said investors should get out of stocks like GameStop and AMC, both of which saw huge rallies this week triggered by social media. “When I see meme stock mania taking over again, led by GameStop and AMC, I need to remind you that this is irrational,” he said. “There’s no way these … Read more
People purchasing fruit at an agricultural trade market on May 11, 2024 in Lianyungang, Jiangsu Province of China. Vcg | Visual China Group | Getty Images BEIJING — As China’s economy moves into the second quarter of the year, a few indicators are pointing to sluggish growth ahead if things don’t turn around, raising expectations … 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
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
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
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
CNBC’s Jim Cramer on Monday reminded investors that much of the stock market currently depends on the Federal Reserve’s interest rate decisions, which are hard to predict as inflation persists. He said he is hopeful new artificial intelligence technology will help cut costs, but stressed that it will not happen any time soon. “We keep … Read more
CNBC’s Jim Cramer on Monday provided his take on four major stocks in the gig economy sector: Uber, Lyft, DoorDash and Instacart parent Maplebear. “After hearing from all of these companies, what I see is a confusing situation: Uber, DoorDash and Instacart are all lower after earnings, while Lyft managed to gain a bit of … Read more
