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by Tyler Durden
By Michael Msika and Albertina Torsoli, Bloomberg commentators and reporters,
Since equity markets hit their pandemic lows in March 2020, all talk has been of recovery. And with bond yields on the rise, cyclical stocks have left defensives toiling in their wake, a theme that continues to play out. The latter’s underperformance has been particularly marked among consumer staples, and for investors seeking quality names, that may present opportunity.
According to Bernstein analyst Bruno Monteyne,
the rotation away from staples provides “good entry points” to names such as cosmetics leader L’Oreal and chocolatier Lindt & Spruengli. It’s also a “great moment” to buy into the Swiss food giant Nestle, he says.
GameStop rally reignites as retail traders step back in
Bailey Lipschultz, Elena Popina and Sarah Ponczek, Bloomberg News
Reddit-driven investing likely the beginning of a permanent trend: Aventine s James Telfser VIDEO SIGN OUT
GameStop Corp. advanced on Friday and was on track to recoup much of Thursdayâs US$11 billion blow after Robinhood Markets Inc. and other brokerages eased trading restrictions on the video-game retailer.
The shares at the center of the retail craze thatâs gripped Wall Street and drawn scrutiny from Washington, rose 67 per cent to US$330 at 12:50 p.m, after earlier climbing as much as 114 per cent. in New York. The stock plunged a record 44 per cent on Thursday. Shares in other day-trader favorites also rebounded.
GameStop rally reignites as retail traders step back in
Bailey Lipschultz, Elena Popina and Sarah Ponczek, Bloomberg News
Reddit-driven investing likely the beginning of a permanent trend: Aventine s James Telfser VIDEO SIGN OUT
GameStop Corp. advanced on Friday and was on track to recoup much of Thursdayâs US$11 billion blow after Robinhood Markets Inc. and other brokerages eased trading restrictions on the video-game retailer.
The shares at the center of the retail craze thatâs gripped Wall Street and drawn scrutiny from Washington, rose 67 per cent to US$330 at 12:50 p.m, after earlier climbing as much as 114 per cent. in New York. The stock plunged a record 44 per cent on Thursday. Shares in other day-trader favorites also rebounded.
GameStop Rally Reignites as Retail Traders Step Back In
Bloomberg 1/29/2021 Bailey Lipschultz
(Bloomberg) GameStop Corp. dipped in extended trading after rising nearly 70% on Friday, wrapping up a week of wild swings as retail investors returned to the stock after trading restrictions on the company were lifted.
The shares at the center of the retail craze that’s gripped Wall Street and drawn scrutiny from Washington, rallied after Robinhood Markets’ decision to lift some curbs that prevented investors on Thursday from buying the stocks that had been going straight up for days.
GameStop closed the session at $325, wrapping up a 400% price surge in the week. The company’s value quintupled since last Friday despite Thursday’s plunge, which wiped out $11 billion in market cap. Shares in other day-trader favorites snapped back from record losses as well.