Manage episode 294532408 series 2917102
Stocks are not moving. Markets are definitely in wait-and-see mode ahead of tomorrow’s Consumer Price Index.
Here's what is happening in the markets today, Wednesday, June 9th.
US stocks have largely been stuck in a range since mid-April. The S&P 500 is only 5 points away from a new record high, but it can’t make it! The Dow is 0.5% away from a new record high.
The Meme stock mania was set to continue: Reddit traders now focusing their attention on Clover Health (CLOV). The stock was up another 23% in premarket trading following an 85% rally on Tuesday amid explosive trading volumes.
Wendy’s (WEN), another name popular among Reddit traders, gained 25% Tuesday and was higher again in premarket trading Wednesday. Wendy's is a surprise as it has relatively low short interest (no squeezes) and is an institutional favorite compared to AMC, BlackBerry (BB) and GameStop (GME).
GameStop (GME) will report quarterly earnings after today’s closing bell. GameStop shares surged the past two days amid renewed buying in the so-called “meme” stocks.
A big surprise was Fastly (FSLY): They issued an apology for Tuesday’s widespread internet outage, with the cloud computing company saying the incident was caused by a software bug that was triggered when a customer changed settings. Fastly rose 10.85% yesterday and is up another 2.4% in the premarket.
Lordstown Motors (RIDE) said there was “substantial doubt” about its ability to continue as a going concern. The electric truck maker said in an SEC filing that it is having problems funding vehicle production. Lordstown plunged more than 16% yesterday ahead of the news, and slid another 4.2% in premarket trading.
One day after falling to a three-week low, Bitcoin rose 5% to more than $35,400 on Wednesday. El Salvador became the first country to adopt bitcoin as legal tender. Prices in El Salvador can now be shown in bitcoin and taxes can be paid with the digital currency. El Salvador’s current official currency is the U.S. dollar.
The Amazon (AMZN) Founder Jeff Bezos is launching himself into space. In an Instagram post, Bezos said that he and his brother would be onboard Blue Origin's first passenger-carrying mission, set for liftoff on July 20.
That leaves only one seat open. So if you've been looking to get some Bezos facetime to pitch your startup idea, you can bid for New Shepard's final seat through Saturday.
As of yesterday, the highest bid to sit sandwiched between the Bezos brothers for an 11-minute space flight reaching an altitude of 62 miles: $2.8 million.
This wraps up today's stock market news.
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