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Wall Street falls amid GameStop frenzy
Since the Fed injected trillions of dollars into the financial markets following a crisis last March, Wall Street has risen to new record highs in what has been increasingly seen as a speculative bubble on the way to bursting.
In recent days, the market frenzy has taken a new turn with a so-called “short squeeze” that has seen the shares of companies whose business models are in severe trouble, possibly putting them on the road to bankruptcy, escalate by hundreds of percentage points.
A GameStop storefront (Wikimedia Commons)
The exemplar of this phenomenon has been GameStop, a US firm selling video games, consumer electronics and gaming merchandise with more than 5,000 stores internationally. At the start of the year its shares were trading at around $19. Yesterday they had risen to more than $330, an increase of 1,500 percent, taking the market value of the company to more than $20 billion.
Pure Cycle Corporation Announces Board of Directors Changes and Results of Annual Meeting
DENVER, CO / ACCESSWIRE / January 15, 2021 / Pure Cycle Corporation (NASDAQ:PCYO) held its annual shareholders meeting on January 13, 2021. During the meeting Patrick Beirne, Arthur Epker III, Peter Howell, Jeffrey Sheets, Frederick Fendel III, Daniel Kozlowski, and Mark Harding were elected to the Pure Cycle board of directors and will serve until the next annual shareholders meeting in January 2022. Mr. Fendel and Mr. Kozlowski are filling board seats that were vacant due to the retirement of two long-standing board members, Mr. Harry Augur and Mr. Richard Guido. We are extremely pleased to have Rick and Dan join our talented board of directors. Rick has served as water law counsel to us for the last 18 years and brings a wealth of knowledge and experience in Colorado water law. Dan has extensive experience in finance and investment management that will be invaluable to our continued grow
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