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GameStop

Meme stocks AMC, GameStop poised to end strong week on a high
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
US stocks down
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
How the GameStop hearing unfolded?
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
Ads, GameStop raise Reddit price tag to $6bn in latest fundraising
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
Just after GameStop frenzy, Reddit raises over $250mn in funding
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
Gold rises in Europe
Markets

Gold rises in Europe

NEW YORK: Gold rose on Friday as the dollar retreated slightly but was set for its worst weekly dip in four as...
Published 06 Feb, 2021 04:06am
US MIDDAY: Gold gains
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...
Published 06 Feb, 2021 04:06am
S&P 500, Nasdaq end at records, extending rally
Markets

S&P 500, Nasdaq end at records, extending rally

  • Apple jumped 2.6 percent following reports it is close to a deal on producing its own autonomous vehicles in cooperation with South Korean giant Hyundai. Neither company commented on the reports.
Published 05 Feb, 2021 10:21am