Items tagged with wall street
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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While many gamers have been racking their brains trying to figure out what's going on with PlayStation 5 and Xbox Series X inventory, and how to get their hands on one of the consoles, a Wall Street firestorm has been brewing at GameStop. You know GameStop, the staple of [dying] malls and strip malls across America where you can buy new and used games/consoles, or even trade-in your old games and hardware for store credit. GameStop shares (GME) have been on a rollercoaster ride since the start of 2021, and even before then, the seeds of GameStop's remarkable run were planted during the latter half of 2020. In late July, GME was trading at around $4/share and slowly started creeping up as...
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Wall Street is a fickle bunch; they build you up only to knock you down just as quickly. Such is the case for Apple, which this afternoon reported its fiscal Q3 2015 earnings. By almost any account, Apple had a stellar quarter, reporting revenue of $49.6 billion (a 33 percent increase year-over-year) and net profit of $10.7 billion ($1.85 per diluted share). Gross margin also was up slightly year-over-year, increasing from 39.4 percent to 39.7 percent. In a telling reminder that Apple depends heavily on markets other than the U.S. for the bulk of its revenue, the company reported that an incredible 64 percent of its quarterly revenue came from international sales. China sales grew an astounding...
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