SpaceX's post-IPO trading, under ticker SPCX, resembles a crypto asset due to its extremely small public float. The stock's rally is fueled by limited supply and high demand, amplified by leveraged crypto derivatives and a new AI acquisition, but faces skepticism over its $3 trillion valuation.
GameStop's $55.5bn takeover bid for eBay has been rejected as 'neither credible nor attractive' due to concerns over funding and strategy
The ‘meme stock’ company is remembered for Reddit traders sending its share price into orbit but its move on the auction site looks less likely to take off“Neither credible nor attractive.” No, not a line from a junior minister’s resignation letter on Tuesday. It was eBay’s succinct appraisal of the bizarre $55.5bn (£41bn) takeover offer from video games retailer GameStop, an affair that offers light distraction from the sight of UK 10-year gilt yields at 5%-plus.To recap: GameStop is the “meme stock” company that became famous a few years ago when amateur traders on a Reddit forum piled in furiously in an attempt to burn the short-sellers who were betting on the struggling retailer’s demise. Surprisingly, the Redditers succeeded beyond their wildest dreams. The squeeze drove up GameStop’s share price hundredfold, inflicting hell on serious hedge funds and making the company’s chief executive, Ryan Cohen, an anti-establishment hero. Continue reading...
GameStop made a takeover bid for eBay, offering $125 per share in a cash-and-stock deal that values the e-commerce platform at roughly $55.5 billion.
Retail traders are flooding back into speculative meme stocks following a SEC-approved FINRA rule change that eliminates the $25,000 minimum equity requirement for pattern day traders. The regulatory shift, replacing the outdated rule with a flexible intraday margin requirement, opens short-term trading to smaller investors. JPMorgan warns meme stock crowding is approaching post-Liberation Day extremes, with Allbirds shares surging from $2.50 to $24 after an AI rebranding pivot before collapsing back to around $8.
