President-elect Joe Biden has proposed a higher education agenda that addresses the cost and accessibility of college. Here's what to know.
President-elect Joe Biden has proposed a higher education agenda that addresses the cost and accessibility of college. Here's what to know.
Here's an FAQ about what's going on with the market and what "Wall Street Bets" is.
Shares of GameStop and AMC Entertainment Holdings more than doubled on Wednesday, forcing hedge funds to retreat with heavy losses and sparking calls for scrutiny of social media-driven stock market trading. Short-seller Citron, a target for some of the individual participants on Reddit's "WallStreetbets" thread who have helped drive gains for several niche stocks in the past week, said in a video post it had abandoned its bet on GameStop shares falling after the video game retailer's value soared almost tenfold in a fortnight. With commentators and lawyers calling for scrutiny of the moves, Nasdaq chief Adena Friedman said exchanges and regulators needed to pay attention to the potential for "pump and dump" schemes driven by chatter on social media.
The ability of members of U.S. Congress to buy and sell stocks has been controversial over the years. One of its most prominent members made some purchases in December that could benefit from the new Biden administration. What Happened: It was revealed over the weekend that Speaker of the House and California Rep. Nancy Pelosi purchased 25 call options of Tesla Inc (NASDAQ: TSLA). The purchases could have been done by Pelosi or her husband Paul, who runs a venture capital firm. The options were bought at a stake price of $500 and expiration of March 18, 2022. Pelosi paid between $500,000 and $1,000,000 for the options, according to the disclosure. Pelosi also disclosed that she bought 20,000 shares of AllianceBernstein Holdings (NYSE: AB), 100 calls of Apple Inc (NASDAQ: AAPL) and 100 calls of Walt Disney Co (NYSE: DIS). Tesla shares have risen from $640.34 at the time the calls were purchased to over $890 today. The call options were valued at $1.12 million as of Monday. Related Link: How The 2020 Presidential Election Could Impact EV, Auto Stocks Why It’s Important: The purchases by Pelosi are questionable as arguments could be made that the companies stand to benefit from new President Joe Biden’s agenda. Biden's push for electric vehicles, which could include lifting the cap on sales, would give buyers tax credits again and is advantageous for Tesla. The president has also suggested a possible cash-for-clunkers program that could incentivize customers for trading in used vehicles towards the purchase of an electric vehicle. Pelosi could now have a conflict as she works to pass clean energy initiatives from which her family could profit. Former U.S. Senator David Perdue, a Republican, was criticized for making numerous stock trades during his six years in Congress. Perdue was the most prominent stock trader from Congress, making 2,596 trades during his time served. Some of Perdue’s transactions came while he was a member of several sub-committees. The Justice Department investigated Perdue and found no wrongdoing. What’s Next: It's legal for members of Congress and their spouses to own stocks. The transactions have to be disclosed per the STOCK (Stop Trading on Congressional Knowledge) Act that was passed in 2012. U.S. Senator Jeff Merkley of Oregon is one member of Congress who has co-sponsored legislation to ban the adding of individual stocks by members of Congress. Both Merkley and Pelosi are Democrats. Pelosi’s transactions could push for more regulations concerning stock purchases by members of Congress. (Photo: Official U.S. Embassy photograph by Archibald Sackey and Courage Ahiati.) See more from BenzingaClick here for options trades from BenzingaCharging Infrastructure SPAC Plays: Is EVGo The Best Of The Bunch?Barstool Fund Nears M For Small Businesses And Is About To Get A Huge Boost From Michigan© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Gamestop shares are set to rally 70% this morning when trading starts, and AMC shares opened up 300%, extending a run that has perplexed market observers, irked hedge funds, and generally made crypto's recent gains appear soft and weak. Robinhood blew up the trading fee economy, and now along with a host of similar companies -- Public.com with its social focus, Freetrade in the UK, and so forth -- has made retail investing far more accessible than it was before to more folks. It's something that was noted by none other than the founder of Reddit Alexis Ohanian who shared some thoughts on Twitter.
Highly shorted stocks are being targeted by some investors trying to force people who have bet the prices will fall into covering. Watch Dillard’s and AMC Entertainment.
The dynamic that has seemingly contributed to a short squeeze in the stock of videogame retailer GameStop Corp. also appears to be affecting shares in a host of other heavily shorted companies.
Reddit and its r/wallstreetbets forum have become powerful, unpredictable forces in the market, sending certain stocks unexpectedly to the moon.
(Bloomberg) -- AMC Entertainment Holdings Inc.’s stock price briefly quadrupled Wednesday, erasing last year’s pandemic-induced slump, before triggering several trading halts as it pared nearly half of those gains. The cinema operator is among a number of heavily shorted stocks rallying this week.The shares surged as much as 310%, pushing it to the highest level since October 2018. The stock has been trimming gains since then, triggering at least four trading halts for volatility. AMC said Monday that $917 million in new funds would get it through the next six months as the industry battles the effects of Covid-19, which has shuttered venues globally.Bloomberg Intelligence analyst Amine Bensaid said AMC is one of the names that’s been floated in social media for its high short interest, joining the likes of GameStop Corp. and Express Inc.The gain “isn’t based on fundamentals and appears to be similar to the GameStop run-up driven by retail investors, yet could help ease a severe liquidity crunch if the company capitalizes on the jump and issues additional shares,” Bensaid wrote Wednesday.“While the recent move in AMC shares has been extraordinary, we remain positive on the outlook for the domestic box office coming out of the pandemic,” B. Riley analyst Eric Wold said in an email to Bloomberg. “Management’s success in securing capital to avoid a near-term bankruptcy has clearly been a positive for investors.” The shares were up 222% to $15.96 as of 11:35 a.m. in New York. Volume was 12 times higher than the three-month average.Short interest as a percentage of free float was 12%, according to data from S3 Partners, down from 61% in December. In London, shares of Cineworld Group Plc, another favorite among short sellers, jumped as much as 21%. The U.K. firm competes with AMC’s Odeon unit in Britain.AMC’s bonds also continued their tear along with the shares, reaching record highs and leading the U.S. high-yield market on Wednesday. The notes due 2026 reached roughly 63 cents on the dollar, up from a low of 5 cents set in November, according to Trace bond trading data.(Updates share move, adds analyst’s comments.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
What if I'm in my 40s and don't have a retirement fund? Some experts say that by age 40 you should have at least three times your salary saved for retirement. If the 401(k) was funded with pretax contributions, any amount converted will be taxable to them but converting to Roth could be a good move because at 21 and 23, they are likely in a low tax bracket. If they convert, invest prudently, and leave the funds alone, in 2030 they could get a good chunk of money tax-free at a time when they may be in a higher tax bracket.
Here's a roundup of top developments in the biotech space over the last 24 hours. Scaling The Peaks (Biotech Stocks Hitting 52-week Highs Jan. 26) Alexion Pharmaceuticals, Inc. (NASDAQ: ALXN) Alnylam Pharmaceuticals, Inc. (NASDAQ: ALNY) Aslan Pharmaceuticals Ltd (NASDAQ: ASLN) (reacted to new preclinical data showing its investigational asset ASLAN003 have the lowest potential for hepatotoxicity) BIOLASE Inc (NASDAQ: BIOL) (reacted to its preliminary fourth-quarter results) BioNano Genomics Inc (NASDAQ: BNGO) CASI Pharmaceuticals Inc (NASDAQ: CASI) Cassava Sciences Inc (NASDAQ: SAVA) Clearpoint Neuro Inc (NASDAQ: CLPT) Cleveland BioLabs, Inc. (NASDAQ: CBLI) DarioHealth Corp (NASDAQ: DRIO) DermTech Inc (NASDAQ: DMTK) Eli Lilly And Co (NYSE: LLY) (reacted to positive data for its monoclonal antibody cocktail in treating COVID-19) ENDRA Life Sciences Inc (NASDAQ: NDRA) ESSA Pharma Inc (NASDAQ: EPIX) Evelo Biosciences Inc (NASDAQ: EVLO) Evogene Ltd (NASDAQ: EVGN) GW Pharmaceuticals PLC- ADR (NASDAQ: GWPH) Illumina, Inc. (NASDAQ: ILMN) ImmuCell Corporation (NASDAQ: ICCC) Immunome Inc (NASDAQ: IMNM) Inari Medical Inc (NASDAQ: NARI) Insmed Incorporated (NASDAQ: INSM) Ionis Pharmaceuticals Inc (NASDAQ: IONS) Johnson & Johnson (NYSE: JNJ) (reacted to better-than-expected fourth-quarter results and positive guidance) Kintara Therapeutics Inc (NASDAQ: KTRA) Krystal Biotech Inc(NASDAQ: KRYS) LeMaitre Vascular Inc (NASDAQ: LMAT) Merit Medical Systems, Inc. (NASDAQ: MMSI) Merus NV (NASDAQ: MRUS) NeoGenomics, Inc. (NASDAQ: NEO) Omnicell, Inc. (NASDAQ: OMCL) Oramed Pharmaceuticals, Inc. (NASDAQ: ORMP) Regulus Therapeutics Inc (NASDAQ: RGLS) Rhythm Pharmaceuticals Inc(NASDAQ: RYTM) (announced positive Phase 2 BASKET study data evaluating setmelanotide in additional MC4R pathway deficiency-related obesities) Sesen Bio Inc (NASDAQ: SESN) SI-Bone Inc (NASDAQ: SIBN) Silence Therapeutics ADR Representing 3 Ord Shs (NASDAQ: SLN) Summit Therapeutics Inc (NASDAQ: SMMT) Supernus Pharmaceuticals Inc (NASDAQ: SUPN) Syneos Health Inc (NASDAQ: SYNH) T2 Biosystems Inc (NASDAQ: TTOO) Vericel Corp (NASDAQ: VCEL) Vir Biotechnology Inc (NASDAQ: VIR) ( reacted to positive topline results from the Phase 1 study of VIR-3434 in hepatitis B viral infection) Down In The Dumps (Biotech Stocks Hitting 52-week Lows Jan. 26) Pharming Group (NASDAQ: PHAR) Stocks In Focus Immutep's Lead Compound Found Safe In Mid-stage Study In Hospitalized COVID-19 Patients Immutep (NASDAQ: IMMP) said its lead investigational asset eftilagimod alpha has been given the clearance to advance into the randomized portion of a Phase 2 study that is evaluating it in hospitalized patients with COVID-19. This followed a safety run-in data review of the first six patients enrolled in the study by an independent Data and Safety Monitoring Board. Immutep said up to 110 COVID-19 patients will participate in investigator-initiated study at the University Hospital Pilsen, Czech Republic. The stock was up 8.89% to $3.43 in after-hours trading. Agios Reports Positive Phase 3 Data For Mitapivat In Treating Genetic Blood Disorder Agios Pharmaceuticals Inc (NASDAQ: AGIO) said that the global, open-label Phase 3 ACTIVATE-T trial of mitapivat in regularly transfused adults with pyruvate kinase deficiency demonstrated a statistically significant and clinically meaningful reduction in transfusion burden. Pyruvate kinase deficiency leads to break down of RBCs more easily, leading to anemia. In the 24-week fixed dose period, 37% achieved a 33% or more reduction in transfusion burden compared to individual historical transfusion burden standardized to 24 weeks, and 22% were transfusion-free. In after-hours trading, the stock added 10.41% to $53.04. Sorrento Says Stem Cell Therapy Candidate Found Effective In Phase 1 Study In Severe COVID-19 Patients Sorrento Therapeutics Inc (NASDAQ: SRNE) announced positive preliminary results from its Phase 1b study of human allogeneic adipose-derived mesenchymal stem cells, dubbed COVI-MSC, for patients suffering from COVID-19-induced acute respiratory distress or acute respiratory distress syndrome. This ongoing study is a single arm, non-randomized Phase 1b study of the safety and preliminary efficacy of COVI-MSCs administered every other day for three infusions for a total of 1 x 106 cells/kg. Each of the first three patients was discharged from the hospital within a week of starting the patient's COVI-MSC infusions and two patients were discharged on the day of their last infusion, the company said. The stock rallied 9.21% to $11.38 in after-hours trading. Lilly, Vir, GSK to Study Antibody Combos For Mild-to-Moderate COVID-19 Eli Lilly And Co (NYSE: LLY), GlaxoSmithKline plc (NYSE: GSK) and Vir Biotechnology Inc (NASDAQ: VIR) announced a collaboration to evaluate a combination of two COVID-19 therapies in low-risk patients with mild to moderate COVID-19. Lilly said it has expanded its ongoing BLAZE-4 trial to evaluate the administration of bamlanivimab, 700mg with VIR-7831, also known as GSK4182136, 500mg, two neutralizing antibodies that bind to different epitopes of the SARS-CoV-2 spike protein. Sanofi to Support COVID-19 Vaccine Manufacturing Efforts of Pfizer/BioNTech Sanofi SA (NASDAQ: SNY) announced an agreement with BioNTech SE – ADR (NASDAQ: BNTX) under which Sanofi will support manufacturing and supply of BioNTech's COVID-19 vaccine which is being co-developed with Pfizer Inc. (NYSE: PFE). View more earnings on IBB Sanofi said it will provide BioNTech access to its established infrastructure and expertise to produce over 125 million doses of COVID-19 vaccine in Europe. Initial supplies will originate from Sanofi's production facilities in Frankfurt from summer of 2021. Regeneron Antibody Cocktail Found Effective Against New Coronavirus Mutations Regeneron Pharmaceuticals Inc (NASDAQ: REGN) said researchers in Dr. David Ho's Columbia University lab and Regeneron scientists have independently confirmed that REGEN-COV, its antibody cocktail, successfully neutralizes the circulating SARS-CoV-2 variants first identified in the UK (B.1.1.7) and South Africa (B.1.351). T2 Biosystems Preannounces Q4, FY20 Revenue Shortfall T2 Biosystems preannounced fourth-quarter revenues of $7.8 million, including product revenues of $5.8 million. This represented a 155% increase in total revenues and 274% increase in product revenues. Revenues for the year are expected at $18.1 million. Analysts, on average, estimate revenues of $8.74 million for the quarter and $19.04 million for the year. The stock tumbled 15.30% to $2.38 in after-hours trading. Offerings Catalyst Pharmaceuticals Inc (NASDAQ: CPRX) said it is offering shares of its common stock in an underwritten public offering. All of the shares in the offering are being offered by Catalyst. Transenterix Inc (NYSE: TRXC) said it has entered into an underwriting agreement with H.C. Wainwright & Co, under which the underwriter has agreed to purchase on a firm commitment basis 8.33 million shares of common stock of the company at a public offering price of $3 per share, for raising gross proceeds of $25 million. The offering is expected to close on or about Jan. 29, subject to customary closing conditions. In after-hours trading, the stock lost 5.82% to $3.40. Scopus Biopharma Inc (NASDAQ: SCPS) announced the pricing of a $9 million follow-on public offering, consisting of one million shares of common stock at a public offering price of $9 per share. Scopus said it intends to use the proceeds of the offering principally for further development of the company's lead drug candidate, including in combination with checkpoint inhibitors. The stock ended down 1.04% to $10.50 in after-hours trading. On The Radar Clinical Readouts: Zymeworks Inc (NYSE: ZYME) is due to present a clinical progress update for ZW49, which is being evaluated in a Phase 1 clinical trial as a treatment for patients with locally advanced or metastatic HER2-expressing cancers. The presentation is scheduled at 4:30 pm. Earnings Abbott Laboratories (NYSE: ABT) (before the market open) Edwards Lifesciences Corp (NYSE: EW)(after the close) Hologic, Inc. (NASDAQ: HOLX) (after the close) Taro Pharmaceutical Industries Ltd. (NYSE: TARO) (after the close) Related Link: Attention Biotech Investors: Mark Your Calendar For January PDUFA Dates See more from BenzingaClick here for options trades from BenzingaThe Daily Biotech Pulse: Novartis Misses, J&J Beats In Big Pharma Earnings, Vaccine Developer CureVac Taps Equity MarketThe Week Ahead In Biotech (Jan 24-30): J&J, Lilly to Kickstart Big Pharma Earnings, Amgen FDA Decision and More© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.
Stocks dipped Wednesday as investors awaited another batch of corporate earnings results and the Federal Open Market Committee’s (FOMC) January monetary policy decision.
AT&T saw a huge net gain in wireless subscribers for the fourth quarter, but it also offered guidance that calls for little to no growth in sales and earnings in 2021—likely much softer than investors had expected.
For investors seeking a strong dividend player, there are some market segments that are known for their high-yield dividends, making them logical places to start looking for reliable payers. The hydrocarbon sector, oil and gas production and mainstreaming, is one of these. The sector deals in a products that’s essential – our world runs on oil and its by-products. And while overhead for energy companies is high, they still have a market for their deliverables, leading to a ready cash flow – which can be used, among other things, to pay the dividends. All of this has investment firm Raymond James looking to the roster oil and gas midstream companies for dividend stocks with growth potential. "We anticipate the [midstream] group will add around ~1 turn to its average EV/EBITDA multiple this year. This equates to a ~20-25% move in equity value," Raymond James analyst Justin Jenkins noted. Jenkins outlined a series of points leading to a midstream recovery in 2021, which include the shift from ‘lockdown’ to ‘reopen’ policies; a general boost on the way for commodities, as the economy picks up; a political point, that some of DC’s more traditional centrists are unlikely to vote in favor of anti-oil, Green New Deal policies; and finally, with stock values relatively low, the dividend yields are high. A look into the TipRanks database reveals two midstream companies that have come to Raymond James’ attention – for all of the points noted above. These are stocks with a specific set of clear attributes: a dividend yield of 7% or higher and Buy ratings. MPLX LP (MPLX) MPLX, which spun off of Marathon Petroleum eight years ago as a separate midstream entity, acquires, owns, and operates a series of midstream assets, including pipelines, terminals, refineries, and river shipping. MPLX’s main areas of operations are in the northern Rocky Mountains, and in the Midwest and stretching south to the Gulf of Mexico coast. Revenue reports through the ‘corona year’ of 2020 show the value potential of oil and gas midstreaming. The company reported $2.18 billion at the top line in Q1, $1.99 billion in Q2, and $2.16 billion in Q3; earnings turned negative in Q1, but were positive in both subsequent quarters. The Q3 report also showed $1.2 billion in net cash generated, more than enough to cover the company’s dividend distribution. MPLX pays out 68.75 cents per common share quarterly, or $2.75 annualized, which gives the dividend a high yield of 11.9%. The company has a diversified set of midstream operations, and strong cash generation, factors leading Raymond James' Justin Jenkins to upgrade his stance on MPLX from Neutral to Outperform (i.e. Buy). His price target, at $28, implies a 22% one-year upside for the shares. (To watch Jenkins’ track record, click here) Backing his stance, Jenkins writes, “Given the number of 'boxes' that the story for MPLX can check, it's no surprise that it's been a debate stock. With exposure to inflecting G&P trends, an expected refining/refined product volume recovery, the story hits many operational boxes - while also straddling several financial debates… We also think solid 2020 financial results should give longer-term confidence…” Turning now to the rest of the Street, it appears that other analysts are generally on the same page. With 6 Buys and 2 Holds assigned in the last three months, the consensus rating comes in as a Strong Buy. In addition, the $26.71 average price target puts the upside at ~17%. (See MPLX stock analysis on TipRanks) DCP Midstream Partners (DCP) Based in Denver, Colorado, the next stock is one of the country’s largest natural gas midstream operators. DCP controls a network of gas pipelines, hubs, storage facilities, and plants stretching between the Rocky Mountain, Midcontinent, and Permian Basin production areas and the Gulf Coast of Texas and Louisiana. The company also operates in the Antrim gas region of Michigan. In the most recent reported quarter – 3Q20 – DCP gathered and processed 4.5 billion cubic feet of gas per day, along with 375 thousand barrels of natural gas liquids. The company also reported $268 million in net cash generated, of which $130 million was free cash flow. The company reduced its debt load by $156 million in the quarter, and showed a 17% reduction in operating costs year-over-year. All of this allowed DCP to maintain its dividend at 39 cents per share. Early in the corona crisis, the company had to cut back that payment – but only once. The recently declared 4Q20 dividend is the fourth in a row at 39 cents per common share. The annualized rate of $1.56 gives a respectable yield of 7.8%. This is another stock that gets an upgrade from Raymond James. Analyst James Weston bumps this stock up from Neutral to Outperform (i.e. Buy), while setting a $24 target price to imply 20% growth on the one-year time horizon. “[We] expect DCP to post yet another solid quarter on sequential improvements in NGL prices, NGL market volatility, and positive upstream trends… we are not capitalizing current propane prices and anticipate a solid, but more normalized pricing regime over the next 12-18 months. In our view, this will create a beneficial operating environment for DCP cash flows that is not currently reflected in Street estimates,” Weston noted. All in all, the Moderate Buy analyst consensus rating on DCP is based on 7 recent reviews, breaking down 4 to 3 Buy versus Hold. Shares are priced at $19.58 and the average target of $23 suggests an upside of ~15% from that level. (See DCP stock analysis on TipRanks) To find good ideas for dividend stocks trading at attractive valuations, visit TipRanks’ Best Stocks to Buy, a newly launched tool that unites all of TipRanks’ equity insights. Disclaimer: The opinions expressed in this article are solely those of the featured analysts. The content is intended to be used for informational purposes only. It is very important to do your own analysis before making any investment.
What are the fastest-growing stocks to watch for Q4 earnings season? Here's a list of 17 stocks expecting up to 966% EPS growth.
Restaurant bankruptcies continue to pile up.
GameStop (GME) shares gained another 92% today to close at a record $147.98 a piece in another clash filled session between reddit WallStreetBets and short sellers. The company’s market cap is now over $10 billion.
Boeing reported a huge Q4 loss as the aerospace giant recorded $8.3 billion in charges and delayed the entry of its 777X jet.
(Bloomberg) -- GameStop Corp.’s breathtaking ascent showed no sign of slowing Wednesday, with bullish day traders keeping the upper hand over short sellers who started to capitulate.The shares rose 157% to a session-high of $380 shortly after 11 a.m. in New York, leading to at least two volatility halts. The advance means the video-game retailer’s market value has risen more than 20 times this month alone to about $26 billion, making GameStop bigger than more than a third of the companies in the S&P 500 Index.The meteoric rally has left short sellers counting the cost in a battle with day traders who have taken to the Reddit social media platform to encourage others to follow their lead. Melvin Capital closed out its short position, while Citron Capital’s Andrew Left said the firm covered the majority of its short in “the $90’s at a loss of 100%.”“It does feel like rationality and fundamentals are just kind of dead,” J Capital Research co-founder Anne Stevenson-Yang said by telephone. “If you’re short you’re in a very difficult position because you have to buy the stock to get out, so you end with a heavily overvalued stock.”GameStop didn’t immediately respond to a request for comment.The stock’s gains were fanned late Tuesday after Tesla Inc. chief Elon Musk tweeted a link to a Reddit thread about the company. But famed fund manager Michael Burry warned that the manic rally has gotten out of hand, calling the stock’s rise “unnatural, insane, and dangerous.”“It really just goes to show the classic saying that markets can stay irrational longer than you can stay solvent,” said Greg Taylor, chief investment officer at Purpose Investments. “So you can try to fight this as long as you want but at some point you just have to give in and just step to the sidelines. That feels like the phase of the market we’re in right now, where things are going a little crazy and definitely divorced from fundamentals.”Another note of caution was provided Wednesday by Bank of America Corp. analysts. While raising their price target to $10 from $1.60 to reflect the stock’s recent surge, they noted that GameStop is in “a weaker not a stronger place” and reiterated their underperform recommendation.“While it is difficult to know how much very high short interest and retail ownership could continue to put upward pressure on the shares, we think fundamentals will again factor into valuation,” analysts led by Curtis Nagle wrote in a note. “We remain skeptical on the potential for a turnaround.”Euphoria born in day-trader chat rooms has turned GameStop into the biggest story stock of the retail era, its improbable surge an emblem of the newfound power of individual investors. At the same time, it’s become a major headache for institutional investors betting it would fall.“It is unwise to try to stand on principle against an angry mob,” said Wedbush Securities Inc. analyst Michael Pachter, who had a price target of $16 for GameStop as of Jan. 11. “The shorts have to mark their investments to market value, so if they’re short at $20 thinking the stock will go to $10 and it goes to $300, they lost $280 trying to make $10. Frankly, I’m surprised they didn’t close much lower than here.”The epic short squeeze has set off a search for other companies that might be similarly vulnerable, with Express Inc., Bed Bath & Beyond Inc. and AMC Entertainment Holdings Inc. among stocks surging on Wednesday.Online brokerages including Robinhood Markets and Charles Schwab Corp. were hit again by service disruptions as the wild swings transfixed traders. TD Ameritrade told clients in a message that it has put in place several restrictions on some transactions in GameStop, AMC and other securities.“The thing about these manias is there’s always enough people who make 600% or 1,000% and tell everybody about it that everybody gets excited about it,” said Anne Stevenson-Yang. “The thing is it’s not the majority of those people and eventually a whole bunch of people lose money.”(Updates with brokerage service disruptions in penultimate paragraph.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.
Growing up in rural Missouri, money was tight for Anthony Hammond. “I joke, I come from the type of family where they don’t read a will at the funeral, they…
Disruptions were reported at several major retail brokerages Wednesday morning, following the speculative surge of interest in companies including GameStop and AMC Entertainment , as well as a big drop in the major stock-market indexes including the S&P 500 . The website Downdetector reported disruptions to TD Ameritrade, Robinhood, E-trade, Charles Schwab, Fidelity Investments, Interactive Brokers and Vanguard, as well as the Reddit message board that has triggered much of the activity.