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“#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…
“#JPMorgan forced out trader who cooperated with fed probe: suit” JPMorgan Chase treated indicted employees better than an executive who cooperated with federal investigators, according to a lawsuit. Commodities trader Donald Turnbull claims in court papers he was abruptly canned from the bank’s precious metals trading group as soon as JPMorgan execs discovered the extent…
“# Did Elon Musk’s ‘jet fuel’ set GameStop (and Bitcoin) ablaze? ” Depending on where you stand on the GameStop saga, which saw organized retail traders extract $6 billion from Wall Street overnight, you may think someone should either take the matches away from Elon Musk, or give him more. The CEO and “Technoking” of…
“#Dogecoin jumps again to double record rally price” Dogecoin has doubled from its Wednesday morning rally to reach prices of more than $0.30 Thursday night. The dog meme-inspired cryptocurrency — that began as a joke — is up 400 percent over the past week, according to Coindesk. The surge came a day after Wednesday’s stock…
“# BlockDown: DeFi institutional adoption is booming but gas fees hinder growth ” Panelists at a DeFi-focused talk held at the BlockDown conference on Thursday expressed their optimism at the past and future growth of decentralized finance, but highlighted the hurdles to adoption due to congestion on Ethereum. The panel, titled “DeFi’s newest waves,” featured…
“# Watch out as r/Wallstreetbets finally allows crypto threads… within limits ” The moderators of subreddit r/wallstreetbets have announced they will allow crypto discussion in the subreddit from today. The retail trading group, famous for pumping traditional stocks such as Gamestop (GME) and scaring hedge fund managers out of their shorts — which is soon…
“#Jordan Belfort has investing advice for the Reddit crowd” Jordan Belfort, the infamous stockbroker who inspired the hit 2013 film “The Wolf of Wall Street,” is hosting a new documentary for the Discovery+ streaming service about the wild rise and fall of GameStop’s stock. Discovery took notice when Belfort weighed in as the GameStop saga unfolded,…
“#GameStop reportedly initiates search for new CEO” GameStop is looking for a new chief executive to replace George Sherman as it pivots from being a brick-and-mortar video game retailer to an e-commerce firm, three people familiar with the matter said on Monday. It would be the biggest shakeup at GameStop since Ryan Cohen, the co-founder…
“#Bitcoin nears record prior to cryptocurrency exchange listing” Bitcoin neared an all-time high on Monday ahead of a listing by the largest US cryptocurrency exchange. The token rose as much as 2.6 percent to $61,229 — marking the highest level in nearly a month but still short of its March 13 peak at $61,742. Bitcoin…
“#Exhausted staff fleeing Goldman Sachs’ Marcus division: report” It’s not just investment bankers who are burning out at Goldman Sachs. The Wall Street titan’s hard-charging culture is reportedly driving exhausted staffers out of Marcus, the consumer-focused business it launched to compete with Main Street banks. Large numbers of engineers, designers and product managers have headed…