Gamestop shares rise – E24

Gamestop shares rise – E24

The price development comes after user “Roaring Kitty” published a mysterious post on platform X.

Published:

The status is updated throughout the trading day.

This is what the leading stock market indices in the United States of America look like at 4:00 p.m.:

  • The S&P 500 rose 0.11%.
  • The Dow Jones index rose 0.29%
  • The Nasdaq Composite Index rose 0.09%.

The price of oil has risen by about $1 since closing time on Friday, and a barrel of North Sea oil (the scorched spot) is currently trading at $83.54.

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GameStop Leap

Among the stocks that saw the biggest moves in pre-trading on Monday was gaming retailer Gamestop.

Referred to as a “meme” stock, a stock often experiences significant fluctuations due to the interest of people who follow it online.

Gamestopp shares at one point rose more than 37 percent after “Roaring Kitty” was first published about three years ago.

The photo, posted on X, shows a player leaning forward in a chair:

User “Roaring Kitty” has been described as the driving force on a Reddit forum regarding the war on Gamestop stock in 2021.

Last month, the stock hit its lowest level in three years. It then traded for $9.95, according to CNBC.

The share rose more than 110 percent within 16 hours.

– Need insurance

Wall Street ended Friday mixed with relatively small gains. The Dow Jones index rose for the eighth day in a row.

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As investors await inflation figures to be released on Wednesday from US authorities, indicators are now approaching their highest levels ever since March.

The background is, among other things, a slowdown in the labor market, which gives hope of further interest rate cuts and several strong quarterly reports, according to Reuters.

– The market likes this, but also needs confirmation that inflation is not on the way up again and perhaps even down. This would give the Fed cover for at least one, or perhaps two, rate cuts before the end of the year.

Thomas Hayes, Chairman of Great Hill Capital LLC, told the news agency.

Mixed in global markets

On European stock exchanges, the picture was mixed on Monday morning.

The Stoxx Europe 600 index rose cautiously by 0.1%. Travel stocks contributed to the rise, according to Reuters.

Development was also mixed on Asian bourses in the morning hours.

Dalila Awolowo

Dalila Awolowo

"Explorer. Unapologetic entrepreneur. Alcohol fanatic. Certified writer. Wannabe tv evangelist. Twitter fanatic. Student. Web scholar. Travel buff."

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