GameStop is back on the radar!

GameStop is back on the radar!

What happened?

GameStop is back! On Tuesday, the stock reached its highest level since late January. As a result, its market cap jumped back above $17 billion. Today, GameStop has already surged by 14% in pre-trade hours. Just to remind you, the meme stock skyrocketed in January to the unbelievable level of $347.51 with the help of people from Reddit, but after that lost about 90% of its value. And, it seemed that the story has ended, but no. Here we go again, but this time without Reddit’s help. Even other meme stocks, that people from Reddit dragged up in January, also rose today in pre-market hours: AMC and BlackBerry.


The long lockdowns have changed consumer preferences forever: the majority of people will continue shopping online. That’s why almost every company has to adapt to global digitalization, especially now. Here’s the response from GameStop. Its CEO Cohen announced on Monday that it established a "Strategic Planning and Capital Allocation Committee" to develop its e-commerce capabilities.

Besides, Biden’s $1.9 trillion Covid-19 stimulus package is on the final step to be passed and that added optimism to the market and underpinned riskier assets like stocks.

What does it mean for trader?

The recent surge of GameStop signals the risk-on sentiment on the market. Therefore, we should expect the further rise of other stocks and stock indices such as the S&P 500, Nasdaq, and Dow Jones. Perhaps, silver (XAG/USD) will join this tendency as well as in January.



Apple event surprised traders
Apple event surprised traders

Every year in early autumn Apple holds its event where it presents new iPhones, Apple Watches, and iPads. This year wasn’t an exclusion. But yesterday’s presentation didn’t result in Apple stock growth, and here’s why.

Latest news

FED and BOE Make Another Attempt to Beat Inflation
FED and BOE Make Another Attempt to Beat Inflation

The Federal Reserve (Fed) will announce its Interest Rate Decision and make a statement about the future monetary policy on Wednesday, September 21, GMT+3. After the higher-than-expected inflation numbers published on September 13, there’s almost no doubt the Federal Reserve will come up with another 75-basis-point rate hike. However, surprised by the CPI numbers, several Fed members announced the possibility of a 100-basis-point rate hike on Wednesday.

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