GameStop rally, NYSE glitch, Best Buy upgrade: Market Domination

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Keith Gill News

Gamestop,Market Manipulation,Wall Street Journal

Stocks ended the day mixed (^DJI,^GSPC, ^IXIC), with the Dow Jones Industrial Average closing lower by 115 points while the S&P 500 and Nasdaq both posted...

), which saw its shares soar 21% after an account linked to meme stock trader Keith Gill, also known as"Roaring Kitty," posted a screenshot of a trading accountI'm Julie that Josh left in live from our New York City headquarters.

They're basically going to be releasing these every year previously, cyclical companies are becoming more secular. If you look at them sort of very broadly here, you see a mixed picture, but you gotta equal weight it to kind of see what's going on here because guess what?We're gonna get to more on that as uh as the show goes on, there's the five day to really give you a look up at the look at the big jump that we saw in the shares and that has to do with uh the man known as roaring kitty or at least someone purporting to be him uh revealing a big new trade in that name.

It's more the sentiment that everyone's looking for, you know what is Roar and Kitty gonna do next and then his followers are gonna follow that.And Chris I it's Julie here just put this into perspective for us.You know, the, the account says it belongs to this person who we've known as Keith Gel in the past.However, it also looks like 100 and 20,000 options.Give us sort of perspective on the size of that kind of options position relative to what we typically see.

You know, obviously, you know, we weren't expecting it to be uh a specific person, but you can see these trades, it's a listed market.So, um you know, that's why this trading options is challenging, but this information was out there in the world just not who it was. So, you know, I spend 99% of my time on, um, other opportunities on, you know, fed events on CP I on things like that really only look at this when this stuff pops up and it's typically, you know, more media related than our clients.

Uh And typically it's not Chris, I'm just curious, you know, more broadly, do you, do you see this trend, this kind of uh meme stock phenomenon? Plus as tech giants looked to offset their A I emissions, we're focusing on the business of carbon removal. You can see Berkshire Hathaway, the air shares are front and center and they are currently trading at $625,000 662 dollars and 50 cents per share.Some other big takers affected Abbot Chipotle Mexican Grill and we also have some smaller takers as well including Gamestop up 30% today and also AMC up about 13% today.

But I guess the good news is is that all of these stocks that we're looking at right here were not limit down at their lows today.Next up, Novavax shares soaring today, the Food and Drug administration announcing it would vote whether to recommend a new COVID-19 booster here with more as Yahoo finds the senior reporter, Angelique Klan.And of course, Novavax, we know one of the companies that gains to uh looks to gain the most from this move from the FDA.

So uh what the fall roll out will look like and what the demand will look like still remains to be seen.And, and as you said, Novavax is looking to capitalize the most because it has the most to gain because it's coming from, I mean, in other words, most of the other players are big companies, lots of other products, not not well and moderna also and not so much with the other.But yeah, Novavax still the one that has just a single product on the market and that is this one right now.

But as you mentioned, ultimately, this all comes down to Shari Redstone, a deal must first be approved by Redstone in order to move forward.So that's something we're going to continue to track and this is a very complicated deal.Number one is that Sha Redone will receive around 2 billion cash for her state in National Amusements Sky, but then merge its studio business with Paramount and purchase about half of Paramount's non voting shares for 4.

This is something that they've been committed to as they work to reach profitability, stronger margins.There's a lot of bullishness on the street and, and you have to think that a lot of these services were priced really low to start just to get those subscribers.Investors struggling to keep the market's main momentum going in the first trading day of June stocks, mixed with about 30 minutes left to close We Manufacturing Day this morning.

 

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