“Maybe there’s a thought that if people are going to get a lot of money in their stimulus checks, that some of it´s going into the stock market,” said Christopher Murphy, co-head of derivatives strategy at Susquehanna Financial Group. “There are tensions about inflation pressures and the stimulus package certainly adds to that pressure which is shown in the weakness in tech stocks and the Nasdaq,” said Robert Pavlik, senior portfolio manager at Dakota Wealth in New York. Some of the $1,400 in payments heading to most Americans could end up in the stock market and could provide a boost for GameStop and other stocks popular among retail investors active in online social media forums.
March 9 (Reuters) – Shares of GameStop jumped on Tuesday for the fifth straight day, as the meme stock rally that began earlier this year got more juice on news about the video game retailer’s e-commerce strategy and speculation that small investors will pour stimulus check funds into stock markets. March 8 (Reuters) – The Nasdaq was set to slump at the open on Monday as the passage of a $1.9 trillion COVID-19 relief package by the U.S. Senate lifted bond yields, pressuring richly valued technology stocks and sparking inflation concerns.
Cohen, a major shareholder who has pushed Gametop’s move away from its brick-and-mortar model, joined the board in January shortly before a social media frenzy drove a meteoric rise in which GameStop shares surged more than 1,600%. When you loved this post and you would want to receive more information with regards to ทางเข้า live casino house please visit our website. Short interest in GameStop was valued at $1.9 billion, or 25.38% of the stock’s float on Monday, compared to 32.56% about a week ago, according to Ihor Dusaniwsky, managing director of predictive analytics at S3 Partners.
GameStop shares were up 23.5% to $239.80 in early trading, a day after the company entrusted leadership of its online sales efforts to board member and major shareholder Ryan Cohen, co-founder of online pet retailer Chewy Inc. 1, after the company tapped shareholder and Chewy co-founder Ryan Cohen to spearhead a new committee to help the video game retail chain’s transition to e-commerce. The stock was up as much as 53% at the session high. March 8 (Reuters) – Shares of GameStop jumped more than 40% on Monday and other so-called meme stocks rallied, lifted by news from the video game retailer and expectations that investors may plow funds from coming stimulus checks into the equity market.
GameStop, Robinhood, and the State of Retail Investing.” (Reporting by Aaron Saldanha in Bengaluru, Danilo Masoni in Milan and Saqib Ahmed in New York; editing by Patrick Graham, Ira Iosebashvili and David Gregorio) Senate Banking, Housing and Urban Affairs Committee planned a remote hearing titled “Who Wins on Wall Street? Since the yield surge began in mid-February, the Russell 1000 growth index has fallen 7.7% against a 1.8% gain for its counterpart value index consisting of cyclical stocks such as financials and energy.
Yet there’s unlikely to be a concerted crypto charge any time soon, say many finance executives and accountants loath to risk balance sheets and reputations on a highly volatile and unpredictable asset that confounds convention.