Small-cap Chinese stocks have been attracting plenty of attention in recent days, according to data from Stocktwits, a social platform for investors and traders. “Regardless of what’s happening in the broader market, there are communities of retail investors focused on trading stocks that larger players can’t (or won’t),” Tom Bruni, lead writer of the Daily…
Meta and Amazon are the latest big-name tech companies in the layoffs spotlight, joining Dropbox, Electronic Arts, Palantir Technologies, Twilio, Zoom, eBay, Okta, Splunk, PayPal, IBM, SAP, Spotify, Alphabet, Intel, Microsoft, Coinbase, Cisco, and Salesforce. More than 184,000 global technology-sector employees have been laid off since the start of 2023, according to data compiled by…
It’s a big day for the economy, with data on inflation and the latest Fed minutes due for release. More on that later. But first let’s discuss the housing market, and this startling chart. It shows the huge gap between mortgage rates, and the rates that Americans are actually paying — a gap that hasn’t…
Shares of AMC Entertainment Holdings Inc. and Bed Bath & Beyond Inc. soared in premarket trading Wednesday, as fellow “meme stock” GameStop Corp. skyrocketed after the consumer electronics and video games seller reported a surprise fiscal fourth-quarter profit. GameStop’s GME, +40.79% stock extended its sharp bounce Tuesday off a two-year low after its earnings report,…
GameStop Corp. stock jumped 48% in the extended session Tuesday after the specialty retailer reported a surprise quarterly profit and sales that were above Wall Street expectations. The retailer is “aggressively focused on year-over-year profitability improvement while still pursuing pragmatic long-term growth,” Chief Executive Matt Furlong said at the company’s call after the results. GameStop…
Bed Bath & Beyond Inc.’s BBBY, -5.79% unusual equity offering may have averted bankruptcy for the time being, but big challenges remain for the troubled retailer, according to KeyBanc Capital Markets analyst Bradley Thomas. The equity offering “is one of the most unusual financing situations we have witnessed in 20+ years of following consumer and retail companies,”…
Bed Bath & Beyond Inc. led a revenge of the meme stocks Monday, with shares rallying 92%, but the stock turned around hard in after-hours trading as executives announced plans to sell convertible shares to get out of a loan default. Bed Bath & Beyond BBBY, +92.13% will attempt to sell convertible preferred stock as…
From Cisco to Amazon, Salesforce, HP, Roku, Beyond Meat, Meta and Twitter, big names across a number of sectors have announced major layoffs in recent months. Cisco Systems Inc. CSCO, +3.07% has begun previously announced layoffs, cutting nearly 700 jobs in Silicon Valley in December, according to filings with the state of California in January….
GameStop Corp. reported its seventh consecutive quarterly loss after the market closed on Wednesday and highlighted its goal of returning to profitability in the near term, but analysts warn there are plenty of challenges ahead. “Throughout 2021 and 2022, we were extremely focused on repairing our decayed foundations,” said GameStop GME, +8.54% CEO Matt Furlong…
GameStop Corp. reported third-quarter results that missed analysts’ estimates as well as a revenue decline after the market close on Wednesday. GameStop GME, -4.83% said it lost $94.7 million, or 31 cents a share, in the third quarter, compared with a loss of $105.4 million, or $1.39 a share, in the prior year’s quarter. Adjusted…
Meme stock GameStop has been on a wild ride in the last couple of years, but cash burn and lack of profitability loom large over the video game retailer. Last week GameStop Corp’s GME, +0.98% stock surged after the the company reported a narrower-than expected loss and also announced a partnership with cryptocurrency exchange FTX….
Shares of Bed Bath & Beyond Inc. BBBY, +6.25% soared Monday, to buck broad-market weakness for a second day, as meme-stock investors expressed optimism ahead of the home goods retailer’s strategic update. The stock rocketed 24.8% to close Monday at $13.35 while the S&P 500 index SPX, -0.36% slipped 0.7%. The stock shot up another…
Almost two years ago, during the first winter of the COVID pandemic, Roman Tirone was introduced to the world of meme stocks. “I think I had a couple of friends reach out about them to me and I took a look,” the New York City-based investor told MarketWatch. “There was a strong community that was…
AMC has experienced a rollercoaster couple of years that took the theater chain from beleaguered pandemic victim to meme stock phenomenon. So what’s next? AMC Entertainment Holdings Inc. AMC, +0.20%, which describes itself as the largest movie theater company in the world, operated 1,004 movie theaters pre-Covid. But the pandemic hit the company hard, forcing…
U.S. stocks closed mixed Friday, with the technology-heavy Nasdaq Composite ending higher as the Dow Jones Industrial Average and S&P 500 index slipped, after a stronger-than-expected June jobs report. All three major benchmarks booked weekly gains, with the Nasdaq leading the way up. How did stocks trade? What drove markets? U.S. stocks ended a choppy…
GameStop Corp. shares fell in after-hours trading Thursday, after the company revealed that its chief financial officer had been terminated amid reports of layoffs. GameStop GME stock declined more than 5% in the extended session after Axios reporter Stephen Totilo reported that an internal email had disclosed the departure of CFO Mike Recupero and “a…
Fixes headline to reflect that GameStop’s loss widened during the quarter. GameStop Corp. stock rose slightly in the extended session Wednesday after the specialty retailer reported a narrower-than-expected quarterly loss and said it was keeping inventories higher to sidestep supply-chain problems. GameStop GME, -2.68% said it lost $158 million, or $2.08 a share, in the…
Accentuate the positive, they say. And why not, as we cruise into Monday with stocks pointing higher amid hopes for easing U.S. tariffs on China. Granted, optimism is a tall order these days, with the U.S. economy slowing, COVID not done yet (let’s hope monkeypox passes fast) and Russian boots still on the ground in…