GameStop Corp. said on Thursday it entered into an agreement with a syndicate of banks for a new $500 million global asset-based credit facility to improve its liquidity. The five-year credit agreement replaces GameStop’s existing one of $420 million, which was due in November 2022, the company said, adding that the facility would reduce borrowing…
5 Short Squeeze Candidates to Watch: Progenity Tops List Again, Augmented Reality Play WiMi Hologram Joins List
Potential short squeeze plays have gained steam in 2021 with new retail traders looking for the next GameStop Corp or AMC Entertainment Holdings Inc. A short squeeze can occur when a heavily shorted stock rises in value instead of falling. Short sellers could be looking to close out their position and can face a loss…
GameStop COO, Dogelon Mars Surge, Snowden on Shiba Inu, J&J Settlement, Cathie Wood’s FB Bet: 5 Headlines You May Have Missed From This Weekend
Here is a quick roundup of the top five stories from the technology, corporate and cryptocurrency sectors that investors would not want to miss out on from the weekend. 1. Johnson & Johnson Settles Risperdal Lawsuits Johnson & Johnson (J&J) said it has settled most of the 9,000 lawsuits it faced over its anti-psychotic drug…
GameStop Chief Operating Officer Owens Leaves After 7 Months
October 30, 2021
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GameStop Corp., the company whose stock became a sensation with day traders this year, said on Friday that Jenna Owens agreed to leave, just seven months after joining the video game retailer as its chief operating officer. It is the first major executive departure at GameStop since the company hired a new chief executive officer,…
What the SEC May Have Missed in Its Report on ‘Meme Stock’ Volatility
The U.S. Securities and Exchange Commission issued a report earlier this month suggesting brokers—via gamified user interfaces and mechanisms such as payment for order flow—lured investors to increase their trading, which, in turn, resulted in higher revenues. Context The SEC report comes after a wave of speculative commentaries on online forums like WallStreetBets earlier this year…
SEC’s GameStop Report Investigates Role of ‘Game-Like’ Brokerage Apps
A report by the Securities and Exchange Commission (SEC) released Monday that investigated the trading controversy surrounding GameStop earlier this year has challenged the role of “game-like” trading apps that may urge investors to trade stocks too frequently. GameStop experienced a surge of activity in January following social media chatter that led to the term…
MassMutual Fined for Failing to Monitor GameStop Saga Star
NEW YORK—Massachusetts regulators are fining MassMutual $4 million and ordering it to overhaul its social-media policies after accusing the company of failing to supervise an employee whose online cheerleading of GameStop’s stock helped launch the frenzy that shook Wall Street earlier this year. The settlement announced Thursday by Secretary of the Commonwealth William Galvin centers…
Investors Hit Pause as GameStop Goes Quiet on Reorg
Video game retailer GameStop Corp tumbled 8 percent in early trading on Thursday as the company’s silence on its turnaround plan left its army of small-time investors questioning the meteoric rise in its share price this year. Although the company posted a 25 percent jump in quarterly sales late on Wednesday, executives failed to lay…
Robinhood Pays $70 Million to Settle Range of Allegations
NEW YORK—Robinhood Financial will pay nearly $70 million to settle a wide range of allegations, including that it gave customers misleading information and improperly allowed some users to make riskier trades after they lied about their trading experience. The financial penalty is the largest ever ordered by the Financial Industry Regulatory Authority, a non-governmental organization…
WallStreetBets Investor Forum Gave Good ‘Buy’ Advice on Average, Researchers Say
The popular small investor online forum WallStreetBets (WSB) had been on average producing sound investment advice, a team of researchers concluded. The Reddit forum, now sporting over 10 million subscribers, gained spotlight after many of its users organized to buy GameStop stock earlier this year, starting a buying spree that boosted stock price of the…
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