Roughly $390 million worth of GameStop shares had changed hands by 5:53 a.m. ET (0953 GMT), more than the $343 million in Wall Street favourite Nvidia...
- GameStop shares surged more than 70% premarket on Monday after " Roaring Kitty " Keith Gill, the stocks influencer behind the 2021 retail trading frenzy, returned to Reddit with a post showing a $116 million bet on the embattled videogame retailer.
The screenshot posted on Sunday showed a GameStop holding of 5 million, or 1.8% of its publicly available stock. It also showed $65.7 million worth of GameStop call options, typically bought to express a bullish view, expiring on June 21 at a strike price of $20.The stock closed at $23 on Friday, up about 33% since Gill began sharing cryptic posts and memes from his "Roaring Kitty" account on X.
Monday's surge also put GameStop short sellers on track to rack up nearly $1 billion in paper losses, according to data and analytics firm Ortex Technologies. "I've watched Nvidia all my career, actually, since it's gone public. It's a very cyclical stock," Cathie Wood said in defense of her firm selling shares.OTTAWA — The Bank of Canada will announce its latest interest rate decision on Wednesday amid speculation that the central bank might start to cut rates.8 Ways Baby Boomers Become Poor in Retirement
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