SELINSGROVE, PENNSYLVANIA, UNITED STATES – 2021/01/27: A woman walks past the GameStop store inside the Susquehanna Valley Mall. An online group sent share prices of GameStop (GME) and AMC Entertainment Holdings Inc. (AMC) soaring in an attempt to squeeze short sellers. Photo by Paul Weaver/SOPA Images/LightRocket via Getty Images GameStop sales rose 25% in the
admin
A former Commodity Futures Trading Commission chairman is calling for more regulation of stablecoins, or cryptocurrencies created to be pegged to other assets like fiat money. Timothy Massad, who led the commission during much of the Obama administration’s second term, told CNBC’s Jim Cramer that investors would benefit from more transparency in the wake of
Blasius Erlinger | The Image Bank | Getty Images The Labor Department determined it can’t legally stop states from opting out of pandemic-era unemployment programs supporting millions of Americans, according to an agency official. The labor bureau also can’t keep federal unemployment benefits flowing to affected individuals via an alternative mechanism, the official said. “We
A series of GEN1 satellites ready to head to a launch site. Kepler Communications Kepler Communications, a start-up that is building a satellite internet network for service outside of the Earth, raised $60 million in a new round to help the Toronto-based company grow, including an expansion in the U.S. “We’re not selling to businesses
The off-price retailer Saks Off Fifth has teamed up with The Phluid Project to create a line of gender-fluid apparel, coinciding with Pride Month. Source: Saks Off Fifth For Christina McCann, shopping at the mall involves sifting through the women’s and the men’s aisles in search of the perfect outfit. McCann, who is nonbinary, often
In this article WFC CLNE RIDE The Lordstown Motors Corp. Endurance electric pickup truck sits on stage during an unveiling event in Lordstown, Ohio, U.S., on Thursday, June 25, 2020. Matthew Hatcher | Bloomberg | Getty Images Check out the companies making headlines in midday trading. Clean Energy Fuels — Shares of Clean Energy Fuels
CNBC’s Jim Cramer said Wednesday that trading meme stocks is more gambling than investing. “It’s exciting. It’s fun, and it’s real,” Cramer said on “Squawk Box.” However, he added, “If you’re going to play it, I think that you can, I don’t know, go to the casino. These should be offered at the casino.” He
d3sign | Moment | Getty Images Individual investors glued to social media helped push the shares of one new company name — Clover Health — up more than 100% on Tuesday. Yet when it comes to the broader markets, the question on many people’s lips now is, “What’s the next big story?” according to JJ
In this article BRK.A Warren Buffett at Berkshire Hathaway’s annual meeting in Los Angeles, California. May 1, 2021. Gerard Miller | CNBC Warren Buffett’s Berkshire Hathaway made a $500 million investment in the parent company of Nubank, a privately held digital bank based in Brazil, the South American company announced on Tuesday. Nubank, which was
Kevin Aluwi and William Tanuwijaya recently made Indonesian history. As founding members of GoTo Group, the 30-somethings are responsible for creating Indonesia’s newest and most valuable tech company after merging their ride-hailing and e-commerce start-ups in the country’s biggest-ever business deal. The combined entity contributes 2% to Indonesia’s GDP via its various business lines including
In this article WEN CLOV .DJI .SPX Traders work on the floor of the New York Stock Exchange. NYSE Stock futures were flat in overnight trading on Tuesday after Wall Street appeared range-bound near its record levels. Futures on the Dow Jones Industrial Average were little changed. S&P 500 futures and Nasdaq 100 futures also
In this article TSLA Tesla China-made Model 3 vehicles are seen during a delivery event at its factory in Shanghai, China January 7, 2020. Aly Song | Reuters BEIJING — Tesla‘s sales in China rose in May from the prior month, but failed to recover levels seen in March, according to the China Passenger Car
Martin Dimitrov | E+ | Getty Images It’s tempting to go on a post-pandemic shopping spree. After a year of hunkering down, skipping vacations and restaurant dining, many Americans can’t wait to start spending again. Just over 50% of U.S. consumers plan to spend extra money splurging or treating themselves, according to a May survey
An artist’s rendition of a Terran R rocket launching to orbit. Relativity Space 3D-printing specialist Relativity Space raised $650 million to step up work on a fully reusable rocket that will attempt to challenge Elon Musk’s SpaceX in less than three years, the company announced on Tuesday. The money will be used “to accelerate some
In this article CLOV SFIX WEN A person skateboards past Biogen Inc. headquarters in Cambridge, Massachusetts, on Monday, June 7, 2021. Adam Glanzman | Bloomberg | Getty Images Stitch Fix — Shares of Stitch Fix jumped 12% after the online styling service reported better-than-expected fiscal third-quarter results. The company posted a loss of 18 cents
In this article AMC A man walks past the AMC Georgetown 14 Theatres in Washington, DC on June 3, 2021. Mandel Ngan | AFP | Getty Images AMC Entertainment’s revitalization plan hinges on adding new theaters, but former Regal Entertainment CFO David Ownby told Jefferies there are too many screens in North America. Box office
Uwe Krejci | DigitalVision | Getty Images The IRS on Monday announced it has started sending letters to more than 36 million American families who may be eligible for the expanded child tax credit and monthly payments set to begin in July. The maximum enhanced credit, which was established by the American Rescue Plan in
A sign hangs in front of an AMC theater on January 27, 2021 in Chicago, Illinois. Shares of AMC Entertainment more than quadrupled today as investors continue their buying spree on heavily shorted stocks. Scott Olson | Getty Images Insider-selling activity at AMC Entertainment ramped up like never before during the recent explosive rally driven
Amazon CEO Jeff Bezos Alex Wong | Getty Images Going to space like Amazon founder Jeff Bezos comes with a hefty price tag. Bezos – the richest person in the world – will participate in the first passenger flight his space company, Blue Origin, is making, he announced Monday. The voyage will take place on
BTIG’s Julian Emanuel believes the Reddit frenzy will play a major role in a deep market sell-off this summer. On CNBC’s “Trading Nation” on Monday, Emanuel compared the current backdrop to late January when the mania was firing on all cylinders. Weeks later, wild swings pressured the major indexes as retail investors took profits. “We all
In this article SFIX The Stitch Fix application for download in the Apple App Store on a smartphone arranged in Hastings-on-Hudson, New York, U.S., on Saturday, June 5, 2021. Stitch Fix Inc. is scheduled to release earning on June 7. Tiffany Hagler-Geard | Bloomberg | Getty Images Stitch Fix shares soared on Monday after the
In this article BIIB Dementia expert Dr. Jason Karlawish told CNBC he’s skeptical of the Food and Drug Administration’s approval of Biogen‘s Alzheimer’s disease drug, Aduhelm, saying “the evidence to approve the drug wasn’t sufficient.” “Another study is needed to establish whether this drug, in fact, is effective. Unfortunately, the FDA approved the drug for
A Help Wanted sign in the Queens borough of New York on June 4, 2021. Spencer Platt | Getty Images News | Getty Images There are 25 states ending their participation in federal unemployment programs early — some as soon as this week. Alaska, Iowa, Mississippi and Missouri will be the first to opt out
In this article .BBKA A customer shops for meat at a Costco store on May 24, 2021 in Novato, California. Justin Sullivan | Getty Images Inflation may look like a problem that will go away, but is more likely to persist and lead to a crisis in the years ahead, according to a warning from
In this article LOOP AMC LLY An Eli Lilly and Company pharmaceutical manufacturing plant is pictured at 50 ImClone Drive in Branchburg, New Jersey, March 5, 2021. Mike Segar | Reuters Check out the companies making headlines in midday trading. AMC Entertainment — The meme stock jumped another 17% in heavy trading following an 83%
Dr. Scott Gottlieb told CNBC on Monday that fully vaccinated Americans should feel well-protected against the coronavirus throughout the summer. However, Gottlieb, who serves on the board of vaccine maker Pfizer, said an additional dose might to boost immunity could still be needed later this year. “I think you could feel safe through the summer,” the former
Lee Jimenez, a teacher at Indian Hill Elementary School in Cincinnati, Ohio, discusses credit cards and methods of payments with his 3rd grade class using online financial education curriculum SmartPath. SMARTPATH There’s been an extra push to get personal finance education into high schools across the country this year, following the coronavirus pandemic. So far
The company’s radar site in Costa Rica. LeoLabs LeoLabs, a private venture that tracks objects and debris in low Earth orbit through a network of radars around the world, raised $65 million in capital in a new fundraising round, the company announced on Tuesday. “It’s a great endorsement of our success to date and where
In this article JBLU DAL AAL UAL LUV People ready to fly again may want to prioritize redeeming their airline miles, rather than trying to earn new ones. A glut of unused reward miles may push airlines to change their frequent flyer programs in ways that could disadvantage some customers, warns ValuePenguin, one of LendingTree’s
Traders work on the floor of the New York Stock Exchange. NYSE Stock futures are flat as the S&P 500 attempts to make a run at a record high this week amid optimism about the economy’s ongoing reopening this summer. S&P 500 futures added less than 0.1%. Dow Jones Industrial average futures gained 23 points,