1 month ago | By Crossing Wall Street
The GameStop saga returned to the market yesterday and today. At 2:30 pm yesterday, GameStop was going for just under $50 per share. At 4 pm, the stock closed at $91.71. This morning, Game Stop got as high at $170 per share.
The rally was apparently sparked by an ice cream cone tweet from Ryan Cohen. This tweet somehow had a cryptic message. Anyway, I have a feeling this story isn't over.
We had some good economic news this morning. Q1 GDP was revised slightly higher to growth of 4.1%.
The National Bureau of Economic Research is the official dater of recessions. They say when a recession...
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1 month ago | By Chron
NEW YORK - Wall Street's GameStop saga can't stop. At the very least, it won't stop.
After weeks of going dormant, shares of GameStop have suddenly shot higher again, jumping 75% in the last hour of trading Wednesday and another 60% so far Thursday. It's reminiscent of the shocking 1,625% surge for GameStop in January, when bands of smaller and novice investors communicating on Reddit and other social media helped launch the struggling video game retailer's stock.
That initial supernova heightened questions about whether the broader market was in a bubble and whether a new generation of...
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