Wall Street flat ahead of big numbers: Gamestop stock rises 50 percent

Wall Street flat ahead of big numbers: Gamestop stock rises 50 percent

Three of the other four stocks in the “Great Seven” rose on Thursday. the alphabet rose 0.6 percent, Amazon Put on 2 percent and Tesla It rose by 2 percent. dead It returned 0.5 percent.

Other stocks

GameStop The stock continued its violent fluctuations and ended the day up by 47.5 percent. The share rose 80 percent this week. The background to Thursday's rise is that Keith Gill, who goes by the name Roaring Kitty on social media, announced a live broadcast on YouTube on Friday. Investors are speculating whether he will talk about his position in the company and how he sees the company developing in the future.

also Robin Hood It rose a healthy 6.5 percent. On Thursday, the company announced the acquisition of cryptocurrency exchange Bitstamp for $200 million.

Car rental giant Hertz Struggling to lease several of her electric cars, she decided to sell them. This is happening in a market that has lost its appetite for electric cars, with their prices falling by 20 to 30 percent over the past year. according to Bloomberg The company will now consider selling at least $700 million of secured debt and convertible bonds, in order to raise more equity. This led to the stock falling by 4.5 percent.

oil

Oil prices showed strength on Thursday, rising for the second day in a row. Prices are still down by just over two percent since OPEC announced a rollback of production cuts on Sunday.

A barrel of US West Texas Intermediate crude for July delivery rose 2.05 percent, while a barrel of Brent crude for August delivery rose 1.90 percent.

See also  Purchase Return, Grocery | Trump members saved $1.5 billion in 2023

Traders now expect the US central bank to cut interest rates in September, which will boost economic growth and thus demand for oil. On Thursday, the European Central Bank lowered interest rates for the first time since 2019.

Most oil inventories rose on Thursday. Exxon Mobil rose 0.8 percent, Chevron rose 0.6 percent, and Occidental Petroleum rose 0.4 percent. ConocoPhillips shares fell 0.03 percent.

Dalila Awolowo

Dalila Awolowo

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

Leave a Reply

Your email address will not be published. Required fields are marked *