Robinhood, Other Brokerages Restrict Trading on GameStop, AMC morningstar.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from morningstar.com Daily Mail and Mail on Sunday newspapers.
GameStop’s plunge erases US$11bn as trades curbed
Bloomberg
GameStop Corp on Thursday plummeted, snapping a dizzying six-day rally and wiping out nearly US$11 billion in market value after brokers choked off demand for the stock by curbing trading on the apps used by the firm’s zealous fan base.
On Thursday, the stock plunged 44 percent after Robinhood Markets, Interactive Brokers Group Inc and others took steps to curtail activity in several high-flying stocks, including GameStop and AMC Entertainment Holdings Inc.
E Trade Financial Corp is preventing customers from purchasing shares of both firms, a person familiar with the matter said.
Jamie Dimon s best deal would be more JPMorgan stock, Mayo says
Felice Maranz, Bloomberg News VIDEO SIGN OUT
Jamie Dimon has made no secret about his hunt for acquisitions, stirring all kinds of speculation about what deals may be in the works for JPMorgan Chase & Co. The best thing might be if the bank simply bought more of its own stock, Wells Fargo bank analyst Mike Mayo says.
âJPMorgan should top JPMorganâs shopping list,â Mayo said in a phone interview. He pointed out that the bank has some US$30 billion in excess capital and warned its chief executive officer not to let that âburn a hole in your pocket.â
Morgan Stanley traders drive earnings surge for bank s best year bnnbloomberg.ca - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from bnnbloomberg.ca Daily Mail and Mail on Sunday newspapers.