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White House official: Trump has discussed with oil companies plans to extend the blockade of Iran for several months if necessary.1. Wells Fargo: Still expects the Fed to cut rates twice this year, by 25 basis points, in September and December respectively. 2. ANZ: The Fed is very likely to restart its rate-cutting cycle in the third quarter of this year, most likely at the September meeting. 3. Goldman Sachs: Expects the Fed to cut rates by 25 basis points each in September and December, and believes the possibility of a rate hike this year is very small. 4. Bank of America: Downside risks to economic growth lead us to continue to predict a 50 basis point rate cut by the Fed later this year. 5. TD Securities: By the September decision, the market will have accumulated enough evidence to support the Feds gradual return to an easing cycle. 6. Standard Chartered: Once Warshs nomination is confirmed, the Fed will likely shift its focus to reviving the weak job market and resuming rate cuts. 7. Commerzbank: In the medium to long term, the Fed will be unable to resist pressure from the US president and may cut rates for the first time by the end of the year, followed by two more rate cuts in 2027. 8. Danske Bank: Expects the Federal Reserve to keep interest rates unchanged throughout the summer and eventually resume rate cuts in September and December. 9. Barclays: If inflation falls as expected, the Fed is expected to gain sufficient confidence to begin easing policy around September. 10. ING: Maintains its forecast that the Fed will cut rates twice this year, in September and December. 11. BNY Mellon: Assuming the Strait of Hormuz reopens, the Fed will cut rates twice in the fourth quarter.April 29 - International crude oil futures continued to climb as the standoff in the Middle East is expected to drag on, with the US and Iran continuing their respective blockades of the Strait of Hormuz. "The continued stalemate in negotiations between the US and Iran makes it increasingly unlikely that supplies through the Strait of Hormuz will return to normal in the short term," said Linh Tran, an analyst at XS.com, in a report. She added, "The market is no longer just anticipating risk, but a prolonged period of supply disruption."With the 60-day deadline approaching, US Republicans are discussing whether to authorize a war against Iran.According to Saudi media outlet alhadath, Israeli Prime Minister Benjamin Netanyahu has not received an invitation to travel to Washington.

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.