Items tagged with Stock Market
The events on the /r/WallStreetBets subreddit that occurred over the past few weeks were nothing short of chaos, degeneracy, and, in the purest definition of the word, awesome to watch unfold. What transpired culminated in the subreddit achieving mainstream media recognition with its community growing exponentially. Besides seeing stocks as dollar signs, some people saw the subreddit as an opportunity for more fame and fortune in the form of a movie deal. This ultimately led to a coup among WSB moderators, which led to Reddit stepping in to put these allegedly unruly moderators in their place. It seems the trouble began to break out roughly two or three days ago after former /r/WallStreetBets...
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Yesterday, we reported on the subreddit /r/WallStreetBets that was effectively gaming the stock market and driving shares of GameStop stock to the moon. Today, it seems as though the crazy train just is not ending. The crowdsourced stock-mob has now driven (NYSE:GME) up approximately 129%, to around $350, at the time of publication. Who is behind the madness, and what is to come in the following days? The answer to the first part of the question is easy, the people behind the wildly growing reddit community, /r/WallStreetBets. They are a group of individual investors self-described as “degenerates,” but are now a crowdsourced stock-mob. Since the GME stock took off, Wall...
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A number of tech stocks had a bit of a freak-out moment yesterday evening, after an error in the computer system linked to the Nasdaq caused their valuations (in some cases) to swing widely. A glitch affected stocks listed on the Nasdaq, and caused many of their share prices to change to $123.47. In the case of Apple (AAPL), $123.47 represented a 14.27 percent slide compared to its last closing price. As for Amazon (AMZN), its share price plummeted by $844.53 or 87.24 percent, which would have been a devastating and crippling blow for the company. On the other hand, Microsoft (MSFT) shares, which also parroted the $123.47 price, were up 79.12 percent.Seems like all systems are running...
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Ah, to be the CEO of a multi-billion dollar corporation, wouldn't that be the life? Oh sure, there are daily stressors that come with the territory, but so does a lopsided compensation package. Apple CEO Tim Cook knows this better than most. As part of a predetermined plan, Cook last week sold a chunk of Apple shares worth $36 million. Sure beats working overtime for a few extra bucks, doesn't it? Normally when a high ranking official cashes in on company shares worth tens of millions of dollars, questions are raised about the health of the firm. That's especially true when it's the top dog shedding company stock. In this case, the timing of Cook's sell-off came just weeks after Apple reported...
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Love him or hate him, Mark Cuban is a billionaire and he didn't amass his fortune by accident. Now the owner of the Dallas Mavericks and the face of Shark Tank, a reality TV show in which would-be entrepreneurs and inventors seek investments for their products or ideas, Cuban is persistently involved in various business ventures and is acutely aware of the landscape. That doesn't mean he's always right, and there's room to debate his latest claim that today's tech bubble is "far worse" than the one from 15 years ago. Cuban made his thoughts known in a new blog post on Wednesday. He starts off by reminiscing of the "good old days" when it was typical for stocks to go up anywhere from $25 to more...
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We hate to break it to investors who dumped barrels of cash into Apple over the last several months, but the bitter truth is it was a bad investment. Maybe in the long term they'll all look like savvy investors and the past three months will become a distant memory. Or maybe Apple was never worth as much as its share price suggested. To put things into perspective, Business Insider crunched some numbers and found that more money has been lost in Apple over the last three months than in Hewlett-Packard (HP) and Research In Motion (RIM) combined. How so? Follow BI's lead on this one. At its peak in 2000, HP's stock hit a high of $65 per share, which valued the company at around $130 billion. Today...
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Shares of Apple rose to above $500 for the first time ever on Monday, continuing a rally that began over two weeks ago when the Cupertino outfit reported record quarterly revenue of $46.33 billion and record quarterly net profit of $13.06 billion, or $13.87 per diluted share. Those and other positive figures weren't lost on investors, who continue to drive up the price of Apple stock. The price per share has gone up 11 out of 14 days since Apple announced its quarterly results, and it's not officially cheaper to buy an iPad 2 tablet (16GB, Wi-Fi) than it is to own a single share of the company who builds it (technically, Foxconn builds the iPad, but you get the drift). What's so remarkable about...
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Apple has been eying Exxon Mobil's market cap since the Cupertino, CA-based company passed Microsoft last year to become the world's most valuable tech stock and the world's second most valuable company. On Monday, the first day of trading in 2011, Apple passed $300 billion in value, but Exxon Mobil's lead is increasing, not shrinking. Apple's market capitalization, which is the number of shares x share price, was at $302.5B in late morning PST trading. Meanwhile, Exxon Mobil had increased its lead to some $73 billion, with its market cap calculated to be $375.9B. Naturally, these numbers go to and fro with the tide of the stock market, but last year Apple had narrowed the distance to within...
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And people wonder why making money in the stock market is a crap shoot. A hedge fund will open in February that uses "Twitter sentiment" to predict the stock market. The British hedge fund is named Derwent Absolute Return. Its founders say they have an algorithm that can analyze sentiments on Twitter. Here's how its described: The Derwent Absolute Return Fund Ltd., set to start trading in February with an initial 25 million pounds ($39 million) under management, will follow posts on the social-networking website. A trading model will highlight when the number of times words on Twitter such as “calm” rise above or below average. A paper by the University of Manchester and Indiana University...
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