(Bloomberg) — Heavily shorted SunPower Corp. shares have been caught up in the meme-stock frenzy, sending the solar power company toward its biggest gain on record. Most Read from Bloomberg The stock of SunPower, which sells residential systems, soared as much as 86% Tuesday, to as high as $5.12, after a roughly 20% advance Monday. […]
Major indexes looked past hot inflation data and Fed Chair Jerome Powell’s comments in early trades Tuesday. The Dow Jones Industrial Average rose 0.2% while the S&P 500 and the Nasdaq inched up 0.1% each in the stock market today. GameStop (GME) and AMC Entertainment (AMC) continued to rally amid a revived meme-stock frenzy.
(Bloomberg) — GameStop Corp. shares more than doubling on no fundamental news. Short sellers getting squeezed and retail traders using same-day options to amplify gains in otherwise beaten-down stocks. Nonsense crypto coins adding more than 1,000%. Most Read from Bloomberg That was Monday. But it could just as easily describe early 2021, when the meme-stock […]
(Bloomberg) — Trader euphoria stemming from the long-awaited return to social media by Keith Gill, the investor known for spearheading 2021’s memestock rally under the name of “Roaring Kitty,” has spilled over into the world of crypto. Most Read from Bloomberg A cryptocurrency created at the end of January utilizing GameStop’s name, logo and ticker […]
Coinbase Global (COIN) posted its second consecutive quarterly profit as crypto trading surged during the first three months of 2024. Yet the stock of the largest US cryptocurrency exchange fell by as much as 4% in after-hours trading Thursday. The stock is up more than 31% since the beginning of the year but 38% below […]
One afternoon last month, Chad Nedohin, a part-time pastor and die-hard supporter of Donald Trump, put on a pirate costume, set up his microphone and recited a prayer. Nedohin was opening his latest livestream on the right-wing video site Rumble, where he has about 1,400 followers who share a devotion to Trump Media & Technology […]
(Bloomberg) — An exchange-traded fund that owns gold companies has become the latest target of frenzied trading in China as investors pile into corners of the market seen as resilient to the country’s economic challenges. Most Read from Bloomberg Trading for the ChinaAMC CSI SH-SZ-HK Gold Industry Equity ETF was halted until 10:30 a.m Monday […]
In the late 90s, a local businessman awoke from a dream that would change the face of the Grand Strand. In the dream, David Eliyahu saw tourists by the thousands walking through the gaping jaws of a giant shark to enter his beachwear shop. It’s been 24 years since that dream was made reality by […]
Yuichiro Chino/Getty Images There’s more to the stock market’s AI trade than just buying Nvidia, according to Bank of America. The bank highlighted three second-tier winners that should benefit from the growing adoption of AI. “Rising tide could create profitable niche for next tier of vendors,” Bank of America said. While the stock market’s artificial […]
Bill GrossJim Young/Reuters Meme-stock mania has caused options activity to balloon around Trump Media. That includes trades made by Bill Gross, who told Bloomberg he’s selling put and call options. These bets indicate he expects DJT shares to remain between $45 and $95 before an April expiry. A rising rebound in meme-stock investing has sent […]
Lottery player and California resident Victoria Vazquez holds $280 worth of lottery tickets for her office pool. (Kevork Djansezian/Getty Images) Now that the combined Powerball and Mega Millions Powerball jackpot is worth a whopping estimated $1.9 billion, it’s no wonder lottery fever is in the air. As NBC News reports, the next Powerball drawing, with […]
(Bloomberg) — The blistering gains of Taiwan Semiconductor Manufacturing Co. have sent the chipmaker to the most overbought level in three years, but its critical role in artificial intelligence suggests investors may find it too early to abandon the rally. Most Read from Bloomberg TSMC, whose chips are used by some of the world’s most […]