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“#AMC says plan to issue more shares has been ‘tabled’” AMC said Tuesday that it will scrap a controversial proposal to issue up to 25 million new shares of its surging stock, citing a mixed response to the idea from investors. The world’s largest movie-theater chain — which has been a key beneficiary of this…
“#Fastly stock soars after ‘nightmare’ outage takes down sites” Shares of cloud-computing company Fastly are up more than 12 percent since the company’s high-profile glitch took down many of the world’s most popular websites yesterday morning. For about an hour on Tuesday, many internet users were unable to access Google, Reddit, Twitter, Spotify and thousands…
“#‘Meme’ mob behind Gamestop frenzy may imperil soaring AMC” Adam Aron says he wants to increase his Twitter following to include about 1,000 more professed small-investor shareholders of the company he runs, AMC Entertainment. His goal is to better “understand this phenomenon that has changed who owns AMC.” But based on the type of AMC…
“# $223M fund for Internet Computer builders — but community is wary ” Zurich-based Dfinity Foundation has announced a fund worth CHF 200 million, or around $223 million, to support development on the Internet Computer — a blockchain-based decentralized network with wildly ambitious plans to one day “replace” much of the internet. The non-profit scientific…
“# DOGE surges as Elon Musk says he’s working with devs to ‘improve efficiency’ ” Elon Musk’s latest foray into crypto markets came a few hours ago when he tweeted he is working with the DOGE developers to improve the cryptocurrency’s efficiency “Working with Doge devs to improve system transaction efficiency. Potentially promising.” According to Coingecko, the…
“#AMC cashes in on Reddit-trading frenzy with $428 million share sale” Cinema operator AMC Entertainment Holdings has raised about $428 million from a share sale, capitalizing on the retail-trading driven surge in its stock earlier this year. The world’s largest cinema chain operator’s shares have gained more than five-folds in 2021 thanks to interest from amateur traders…
“# WallStreetBets combats market manipulation using blockchain ” WallStreetBets, the Reddit-based grassroots movement that achieved notoriety for short-squeezing hyper-leveraged financial firms, has launched a new blockchain-based application aimed at combating market manipulation in traditional finance. The group announced the creation of WallStreetBets Exchange Traded Portfolios, or ETPs, that can provide investors with broad exposure to…
“#GameStop signs lease for massive distribution warehouse, ditches debt” GameStop said it has signed a lease for a 700,000-square-foot distribution warehouse on Monday, even as it announced it has retired its corporate debt earlier than expected. The warehouse facility in York, Pa., which will support the Texas-based retailer’s e-commerce business, is expected to be operational…
“#GameStop CEO George Sherman to step down, lifting the retailer’s stock” GameStop shares shot up on Monday after the company announced plans to search for a new chief executive officer to help accelerate the company’s transformation into a digital retailer. GameStop CEO George Sherman will step down on July 31 or sooner depending on the…
“# Dogecoin, CryptoCurrency Reddit communities surge as crypto euphoria heats up ” With much of the market fixated on Bitcoin’s (BTC) sudden price correction over the weekend, retail interest in digital assets appears to be on the rise, according to the latest statistics from Reddit. The r/dogecoin community added 145,859 weekly subscribers, according to Subreddit…