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Bank of Japan Shares May Have Become the Latest Meme Stock Bloomberg 3/1/2021 (Bloomberg) GameStop. Nokia. The Bank of Japan? Japan’s central bank joined the ranks of equities with puzzling surges in valuation led by retail investors on Monday, as its shares surged by their daily limit. The stock rose 18%, the most since 2005, to 33,000 yen a share. Even experienced investors are often surprised to learn that as well as being Japan’s lender of last resort and a key pillar supporting the equity market, the BOJ is itself a publicly listed entity on the Tokyo Stock Exchange’s Jasdaq section. ....
GameStop Wraps Up Worst Week Ever, Leaving $18 Billion Hole Bloomberg 2/5/2021 Bailey Lipschultz (Bloomberg) Even with Friday’s bounce, GameStop Corp. wrapped up its worst week on record as a stunning reversal of fortune wiped out $18 billion from the video-game retailer’s stock-market value. Popular Searches The stock fell 80% in the last five days, its worst weekly performance on record, to $63.77 in New York. The 19% gain on Friday after Robinhood Markets removed buying limits still left it far below last week’s high of $483 as retail trader demand and excitement across platforms like Reddit simmered. GameStop’s market value slipped to $4.4 billion, a far cry from the $33.7 billion value it hit on on Jan. 28 when it briefly became the largest company in the Russell 2000 Index. AMC Entertainment Holdings Inc., which also had limits removed on trading, edged lower in Friday’s session and capped off its worst week on recor ....
GameStop Wraps Up Worst Week Ever, Leaving $18 Billion Hole Bloomberg 2/5/2021 Bailey Lipschultz (Bloomberg) Even with Friday’s bounce, GameStop Corp. wrapped up its worst week on record as a stunning reversal of fortune wiped out $18 billion from the video-game retailer’s stock-market value. Popular Searches The stock fell 80% in the last five days, its worst weekly performance on record, to $63.77 in New York. The 19% gain on Friday after Robinhood Markets removed buying limits still left it far below last week’s high of $483 as retail trader demand and excitement across platforms like Reddit simmered. GameStop’s market value slipped to $4.4 billion, a far cry from the $33.7 billion value it hit on on Jan. 28 when it briefly became the largest company in the Russell 2000 Index. AMC Entertainment Holdings Inc., which also had limits removed on trading, edged lower in Friday’s session and capped off its worst week on recor ....
Yellen to Meet Financial Regulators Thursday on Market Tumult Bloomberg 2/4/2021 Saleha Mohsin and Christopher Condon (Bloomberg) Treasury Secretary Janet Yellen will meet with U.S. financial regulators on Thursday to discuss recent volatility in financial markets, making her first public effort to address the tumult involving GameStop Corp. shares and broker-dealer Robinhood Markets Inc. Yellen will convene with the heads of the Securities and Exchange Commission, the Federal Reserve Board, the Federal Reserve Bank of New York and the Commodity Futures Trading Commission, the Treasury Department said in a statement late Wednesday. The Biden administration and regulators have faced pressure in recent days to respond to the market frenzy. SEC investigators are combing social media and message board posts for signs that fraud played a role in dizzying stock swings, according to people familiar with the matter. ....