All articles tagged with #retail trading
eToro CEO Yoni Assia describes the current retail trading surge as part of the largest wealth transfer in history, with the platform introducing 24-hour trading on popular stocks and ETFs, aiming to compete with Robinhood and expand into new asset classes, amid a broader shift in financial markets and increasing interest from younger investors.
GameStop shares are rising, fueled by renewed interest in high short interest and speculation of another short squeeze, partly driven by meme stock trader Keith Gill's return to social media. Gill's recent activities, including a disclosed stake in Chewy Inc., have added to the volatility and speculation surrounding GameStop's stock movements.
GameStop shares surged 30% after Keith Gill, known as "Roaring Kitty," posted a screenshot suggesting he holds a $116 million position in the company. This sparked renewed interest among retail traders, reminiscent of the 2021 short squeeze. The post, shared on Reddit's r/SuperStonk forum, showed Gill holding 5 million shares and 120,000 call options. The rally also boosted other meme stocks like AMC.
GameStop's stock surged 14% after the company raised $933 million through share sales, capitalizing on a recent rally driven by retail trading enthusiasm. Despite the boost, the stock has seen significant volatility, losing 70% of its value since mid-May. The funds will be used for general corporate purposes, including potential acquisitions and investments.
GameStop shares surged up to 25% in late trading after the company raised nearly $1 billion through a share sale program, capitalizing on recent trading flurries. The funds will be used for general corporate purposes, including potential acquisitions and investments. Despite the stock jump, GameStop's underlying business continues to struggle as gamers increasingly opt for digital downloads over physical store visits.
Rising cases of bird flu in humans are driving retail traders to invest in vaccine stocks, with companies like CureVac, Novavax, Moderna, and Pfizer seeing significant gains. This trend mirrors past trading frenzies during outbreaks of diseases like Ebola and Zika, though the long-term impact on revenue remains uncertain.
Robinhood Markets' fourth-quarter revenue increased to $471 million from $380 million a year earlier, driven by a rise in net interest revenue to $236 million from $167 million. The company's financial performance was boosted by higher interest income from customer loan repayments in a favorable interest rate environment. Robinhood's shares rose 8% in extended trading following the announcement.
Hong Kong's securities regulator will allow retail trading of certain crypto assets starting June 1, as part of its broader effort to become a global crypto hub. Bitcoin rose 1.7% to $27,293.64, while Ether advanced more than 2% to $1,855.28. The move was widely expected, with the announcement marking the end of a request for public comment it put out in February on its proposed regulatory requirements around retail trading in crypto.
Hong Kong is moving forward with its plan to allow retail traders access to licensed crypto platforms, with a licensing regime for crypto exchanges set to come into effect on June 1. The chair of the FinTech Association of Hong Kong, Neil Tan, said that the opening of the financial industry to digital assets is a natural progression and that Hong Kong is stepping forward while other jurisdictions are stepping back. The region is also focusing on attracting talent and infrastructure providers to support its virtual asset hub ambitions.