U.S. financial markets will pause Monday in observance of Presidents Day — which, technically, is not the name of the holiday. The New York Stock Exchange and Nasdaq will be closed on Feb. 15. And the Securities Industry and Financial Markets Association, or Sifma, is recommending no trading in dollar-denominated...
Bitcoin’s price soared past the $48,000 level for a second time this week, hitting a fresh all-time high as Bank of New York Mellon said it would provide custody services for digital assets. The world’s most valuable cryptocurrency hit an intraday record of $48,297 at roughly 8:30 a.m. ET on...
Dating app Bumble (BMBL) turned a few heads Thursday with its initial public offering that widely exceeded expectations and raised $2.15 billion. The Bumble IPO jumped by double digits as trading began. Bumble stock jumped 78%, near 76.80, during afternoon trading on the stock market today, under the ticker BMBL. The...
Shares of Just Energy Group (NYSE: JE) rose 43.7% in January, according to data from S&P Global Market Intelligence. The stock likely benefited from the short-squeeze mania kicked off by explosive gains for GameStop, AMC Entertainment, and a handful of other heavily shorted companies. The number of Just Energy shares...
GameStop shares will plunge to around $10-$20 a share by the second quarter of 2021, according to Dan Ushman, founder and chief executive officer of TrendSpider, a trading-software company. Ushman said he believes the price of GameStop will fall by 85%, returning "to where it was before the insanity began."...
The company behind the trading app Robinhood is facing more than 30 civil lawsuits from its users in relation to restrictions it imposed temporarily limiting purchases of certain stocks last week. Several groups of the app's users have filed separate lawsuits against Robinhood Markets Inc. in federal courts, including in...
GameStop's stock price gyrated on Wednesday, climbing back above $100, but then slumping in the last hour of trading to end the day up just 3% from Tuesday, and well below its recent highs. The wavering stock price also suggests the popular WallStreetBets Reddit discussion board that has helped...
One of the most difficult problems in finance right now is figuring out the fundamental economic value of cryptocurrencies. And the past week has complicated this further. For many cryptocurrency investors, the value of Bitcoin is based on the fact it is artificially scarce. A hard cap on “minting” new...
The wild run-up of trades popular with Reddit crowds is starting to come crashing down. GameStop Corp. sank 23 per cent in U.S. pre-market trading, extending a 31 per cent plunge on Monday. AMC Entertainment Holdings Inc. slid 21 per cent and Express Inc. lost 15 per cent. Silver tumbled...
Moderna (NASDAQ:MRNA) and the Pfizer/BioNTech partnership might not enjoy a duopoly in the U.S. COVID-19 vaccine market for much longer. Johnson & Johnson (NYSE:JNJ) announced late-stage results for its coronavirus vaccine candidate last week. The healthcare giant now plans to seek Emergency Use Authorization (EUA) from the Food and...