Reddit Rally, Fed Meeting, Tesla, Apple Earnings
Wednesday, 27 January 2021, 14:24:41
© Reuters By Geoffrey Smith Investing.com –The war between retail traders on Reddit and Wall Street short-sellers continues, with
— Tech Fans
Reddit Rally, Fed Meeting, Tesla, Apple Earnings – What's up in Markets – Global Rubber Markets
Wednesday, 27 January 2021, 14:11:33
© Reuters By Geoffrey Smith Investing.com –The war between retail traders on Reddit and Wall Street short-sellers continues, with GameStop set to double again at the opening. Jerome Powell will hold his first press conference since Joe Biden was sworn in as President, with Janet Yellen now confirmed as Treasury Secretary. Microsoft’s earnings set a …
— Global Rubber Markets
How Reddit day-traders are using the platform to upend the stock market and make money in the process
Wednesday, 27 January 2021, 13:55:00
Summary List Placement Retail investors on the WallStreetBets online forum continue to boost GameStop shares, defying hedge funds and conventional investing norms in the process. Members of the group have formed a snowballing momentum trade as posts go viral and pull in new, curious Reddit users. The unconventional stock rally — which largely ignores fundamental analysis — is a sign that “the institutions are losing some control,” Dr. Richard Smith, CEO at the Foundation for the Study of Cycles, told Insider. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Like bitcoin , Tesla , and the SPAC IPO, r/WallStreetBets grew exponentially in 2020. In the first weeks of 2021, the forum discovered just how strong it's become. The subreddit's subscriber count ballooned by 133% to 1.8 million members over the course of last year. Growth accelerated further this month, and the forum's 2.2 million current members now drive one of the platform's most active pages. Members have spent the past three weeks bidding up GameStop, and the results have been spectacular.
— Business Insider
Wednesday, 27 January 2021, 13:03:45
Summary List Placement GameStop surged as much as 130% higher in early pre-market trading after Elon Musk's “Gamestonk!!” tweet. Chamath Palihapitiya has also tweeted excitedly about subreddit WallStreetBets' favorite stock. The online stock-investing chat group now has over 2.4 million members. Sign up here for our daily newsletter, 10 Things Before the Opening Bell . Shares in GameStop rose as much as 130% higher early on in Wednesday's pre-market, after billionaire Elon Musk tweeted “Gamestonk!! ” in after-hours trading. “Stonks” is usually used in investing banter on social media for widely-held stocks. The Tesla founder posted a link to the popular subreddit WallStreetBets, members of which have piled into GameStop's soaring stock. Read More: MORGAN STANLEY: Buy these 9 sports-betting stocks ahead of the industry's expected legalization in 12 states this year and its growth to $10 billion in 2025 Billionaire Chamath Palihapitiya also joined the Reddit frenzy by excitedly announcing he bought 50 call options in GameStop with a strike price of $115 and an expiration date of February 19.
— Business Insider Markets
GameStop, Microsoft, Walgreens: What to Watch When the Stock Market Opens Today
Wednesday, 27 January 2021, 13:02:00
A volley of major earnings reports are due including big tech names like Tesla and Apple.
— The Wall Street Journal
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