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On June 15th, it was reported that the secondary market trading price of the Fullgoal ChiNext ETF (ticker symbol: Fullgoal ChiNext ETF; fund code: 159971), managed by Fullgoal Fund Management Co., Ltd., has been significantly higher than its Indicative Indicative Net Asset Value (IOPV), exhibiting a substantial premium. To protect investors interests, trading in this fund will be suspended from the opening of the market on June 16, 2026, and will resume at 10:30 AM on the same day. Redemption services will continue as usual during the suspension period. If the premium in the secondary market trading price of this fund does not effectively decrease on June 16, 2026, the fund has the right to apply to the Shenzhen Stock Exchange for temporary intraday trading suspension, extension of the suspension period, or continuous suspension to warn the market of the risk. Specific details will be announced at that time.June 15th - Lee Hardman of MUFG Bank stated in a report that despite the decline in energy prices following the interim peace agreement between the US and Iran, the yen is unlikely to achieve a meaningful recovery. Short positions in the yen continued to increase ahead of the Bank of Japans policy decision on Tuesday. "The 25 basis point rate hike has already been fully priced in, so its unlikely to trigger a reversal of the yens weakness on its own, thus encouraging further increases in short yen positions," he said. He added that if energy prices continue to fall and bets on US rate hikes decrease, any further intervention by Japanese authorities to support the yen will prove more effective.June 15th - European Central Bank (ECB) Governing Council member Kazmir stated on Monday that the ECB has taken the first step in curbing price pressures, but it is increasingly clear that more action is needed. The ECB raised interest rates last Thursday for the first time in nearly three years, attempting to curb inflation before the surge in energy costs triggered by the US-Israel war against Iran spreads further throughout the Eurozone. In his article, Kazmir stated, "Now is not the time for complacency and hesitation. Higher energy costs are likely to persist for longer than many had hoped. Even with the recent peace agreement between the US and Iran, the damage inflicted on the Middle East cannot be erased overnight." He indicated that if the ECB does not act, a second wave of effects from rising energy prices will emerge. "We have taken the first step in curbing medium-term price pressures, but the task is not yet complete. Based on the information currently available, it is increasingly clear that monetary policy has much more to do."Reuters calculations show that Indias merchandise trade deficit in May was $28.21 billion (compared to a previous survey forecast of $28.72 billion).The eurozones seasonally adjusted trade balance in April recorded €1.3 billion, the smallest surplus since May 2023.

As a stock split draws private investors, GameStop's stock price climbs

Aria Thomas

Jul 08, 2022 11:07


GameStop Corp (NYSE:GME) shares soared more than 10 percent on Thursday after the video game retailer announced a four-for-one stock split to revive dwindling retail excitement during a market slump.


The stock, which was last valued at $127.70, was the most actively traded on the retail trading platform of Fidelity Investments.


GameStop shares have plummeted 20% this year, mirroring the downfall of other industry darlings as recession fears weakened risk assets.


"Currently, the obvious explanation is the stock split; nevertheless, is this trend sustainable? As the company trades on fewer fundamentals than the rest of the market, it is tough to generate estimates "said Dennis Dick, a proprietary trader at Bright Trading.


In 2021, GameStop and AMC Entertainment Holdings Inc. were at the focus of a meme-stock trading craze when normal investors used social media to penalize hedge funds that had bet against the firms.


According to Giacomo Pierantoni, an analyst at Vanda Research, since then, individual investors have selected broad shares, ETFs, and large-cap technology firms in the hopes of earning double-digit returns by banking on a long-term recovery.


Pierantoni remarked that individual investors "had already lost a large amount of money and cannot afford to lose more on sporadic bets."


Typically, stock prices rise after the announcement of a stock split, since the lower per-share price enhances liquidity and makes the company more accessible to retail investors.


This year, GameStop will split its equity with Amazon (NASDAQ:AMZN) and the parent company of Google, Alphabet (NASDAQ:GOOGL).


The investing director at AJ Bell, Russ Mould, emphasized that stock splits do not affect a company's fundamentals. Long-term, fundamentals will be more important than issues like this.


GameStop first announced board approval for the stock split in March.