EUR/USD 1.15414
0.017%
Gold 5013.16
0.140%
Oil 92.125
-3.249%
USD/JPY 158.709
-0.179%
GBP/USD 1.33664
0.085%
GBP/JPY 212.141
-0.033%
Browse More
  • English
  • 简体中文
  • 繁體中文
  • Tiếng Việt
  • ไทย
  • Indonesia
Subscribe
Real-time News
On March 18th, according to Tianyanchas intellectual property information, Hangzhou Alibaba Cloud Feitian Information Technology Co., Ltd. recently applied to register two "HICLAW" trademarks, categorized internationally as website services and scientific instruments. The trademarks are currently awaiting substantive examination. Hangzhou Alibaba Cloud Feitian Information Technology Co., Ltd. was established in March 2019, with Jiang Jiangwei as its legal representative. Shareholder information shows that the company is wholly owned by Zhejiang Alibaba Cloud Computing Co., Ltd. Public information indicates that HiClaw is a multi-agent collaboration system officially open-sourced by Alibaba Cloud in March, supporting multiple AI agents to collaboratively complete complex tasks.On March 18th, Daniel Lavney, Head of Fixed Income at Mediolanum International Fund Management, stated that the market had already anticipated the Federal Reserve would maintain interest rates at this weeks meeting, even before the deterioration of the Gulf situation, and this is now a foregone conclusion. Recent economic data showed continued slowing inflation and a deteriorating labor market, leading the firm to initially expect a dovish stance. However, this is no longer the case. The Fed is now expected to convey a cautious wait-and-see attitude. The policy statement is likely to mention the risks of war and incorporate two-sided language in its description of the future path of interest rates, emphasizing both the upside risks to inflation and the downside risks to the labor market.On March 18th, Baidu appointed He Jingzhou, formerly of the Big Model Algorithm Department, to rotate from the Basic Model Development Unit (BMU) to the Mobile Ecosystem Group (MEG) as the head of the Baidu App R&D Center, reporting to Luo Rong. This rotation will promote the integration of big models with search and recommendation businesses, strengthening the application of cutting-edge technologies such as big models in core scenarios like search and recommendation. The former head, Zhao Shiqi, resigned for personal reasons. Previously, Baidu MEG underwent organizational restructuring, merging all PC and mobile search businesses, with Li Xiaowan responsible for user production and operations. Simultaneously, a new Baidu App R&D Center and Experience and Quality Assurance Center were established.March 18th - The latest Bank of Japan (BOJ) circulating funds statistics show that as of the end of December last year, the BOJs holdings of Japanese government bonds decreased to 43.1% from 44.2% at the end of September. This decline reflects a reduction in the BOJs bond-buying operations and a shrinking market value due to soaring bond yields. Tsuyoshi Ueno, an economist at NLI Research Institute, stated that although the BOJ still holds nearly half of the outstanding long-term government bonds and remains a dominant force in the market, its influence is gradually weakening.The Norwegian Offshore Authority: Statoil and its partners have discovered oil in the "POLYNYA TUBAEN" exploration target area. The discovered reservoir is estimated to contain between 14 million and 24 million barrels of crude oil.

As a stock split draws private investors, GameStop's stock price climbs

Aria Thomas

Jul 08, 2022 11:07


GameStop Corp (NYSE:GME) shares soared more than 10 percent on Thursday after the video game retailer announced a four-for-one stock split to revive dwindling retail excitement during a market slump.


The stock, which was last valued at $127.70, was the most actively traded on the retail trading platform of Fidelity Investments.


GameStop shares have plummeted 20% this year, mirroring the downfall of other industry darlings as recession fears weakened risk assets.


"Currently, the obvious explanation is the stock split; nevertheless, is this trend sustainable? As the company trades on fewer fundamentals than the rest of the market, it is tough to generate estimates "said Dennis Dick, a proprietary trader at Bright Trading.


In 2021, GameStop and AMC Entertainment Holdings Inc. were at the focus of a meme-stock trading craze when normal investors used social media to penalize hedge funds that had bet against the firms.


According to Giacomo Pierantoni, an analyst at Vanda Research, since then, individual investors have selected broad shares, ETFs, and large-cap technology firms in the hopes of earning double-digit returns by banking on a long-term recovery.


Pierantoni remarked that individual investors "had already lost a large amount of money and cannot afford to lose more on sporadic bets."


Typically, stock prices rise after the announcement of a stock split, since the lower per-share price enhances liquidity and makes the company more accessible to retail investors.


This year, GameStop will split its equity with Amazon (NASDAQ:AMZN) and the parent company of Google, Alphabet (NASDAQ:GOOGL).


The investing director at AJ Bell, Russ Mould, emphasized that stock splits do not affect a company's fundamentals. Long-term, fundamentals will be more important than issues like this.


GameStop first announced board approval for the stock split in March.


Suggestion