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Tag: Wall Street

AMC latest “meme” stock to hit a rally, jumping 17% after selling shares to investor

NEW YORK, N.Y. / CNBC — AMC Entertainment shares surged again on Tuesday when the theater chain sold more than 8 million shares to an investment firm, the latest in a series of capital raises for the struggling company turned ‘meme’ stock. The purchase by Mudrick Capital Management helped AMC raise $230.5 million. AMC officials said that they would be using the funds for potential acquisitions, updates to existing theaters, and deleveraging its balance sheet. Shares were up 17% in premarket trading. AMC was hit hard during the pandemic when their movie theaters shut in most...

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Important things to know before the stock market opens Wednesday

Here’s a list of the most important news, trends and analysis that investors need to start their trading day: 1. Dow could rebound after breaking three-day winning streak Stock futures for the United States increased on Wednesday after the Dow broke a three-day winning streak. The 30-stock average closed down 81 points on Tuesday as the market struggled for direction ahead of Memorial Day weekend. It was up more than 100 points at session highs. 2. Bitcoin makes some progress, but the recent collapse has strengthened gold prices Prices for the popular cryptocurrency “Bitcoin”...

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Stocks slated to rise for a second day as Dow futures add 100 points

NEW YORK / CNBC — Stock futures moved further into the green early Friday morning after major averages rebounded from a three-day losing streak in the last session, which was led by technology shares. Futures on the Dow Jones Industrial Average indicated an opening gain of about 101 points. S&P 500 futures increased by 0.3 percent and Nasdaq rising by 0.2 percent. Bitcoin, which shook markets with a 30 percent collapse earlier in the week, was stable for a second day around the $40,000 range. Major tech shares were set to continue their rebound. Tesla was higher by 2% in premarket...

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Prophetic investor that predicted housing market crash is betting against Tesla stock

Michael Burry — one of the investors who became famous for predicting the monumental collapse in the housing market in 2008 — has a new favorite stock to bet against: $TSLA. Burry’s firm, Scion Asset Management, revealed in a Securities and Exchange Commission filing Monday that it held bearish put options on more than 800,000 Tesla shares, worth about $534 million, as of the end of the first quarter. That means the firm is betting against the stock price rising, putting $534 million on the line. No reason was given in the filing for why Burry thinks Tesla’s stock is...

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