frenzy | Common News Update

Feb22021 by adminNo Comments

Why you should stay the course in the stock market, even amid the GameStop trading frenzy

Finance

Tiffany Hagler-Geard | Bloomberg | Getty ImagesGameStop, AMC Entertainment, BlackBerry, Dogecoin and silver – all have been subject to epic rallies and falls in recent days, spurred by droves of retail investors driving up prices and then selling.While it may be tempting to pile into an asset that's seen such rapid growth, financial experts say it's best to invest for the long-term."A lot of the investors are just jumping in because of FOMO [fear of missing out]," said Yanely Espinal, director of educational outreach at Next Gen Personal Finance. It's important for investors to be aware of the cognitive biases they may have to recognize when they're being influenced by social media herd mentality, Espinal added.Speculating vs. investingSeveral stocks, including GameStop, AMC and Blac...

Feb12021 by adminNo Comments

Why the GameStop frenzy may hurt retirees along with hedge funds

Finance

Jakub Porzycki/NurPhoto via Getty ImagesReddit users and other retail investors who piled into GameStop stock aimed to take down Wall Street.Pension funds, which support ordinary Americans in retirement, may be an unintended casualty.Some hedge funds have sustained big losses as a result of bets against GameStop stock. Melvin Capital, for example, lost more than 50% in January.But pension plans — which invest assets on behalf of workers like teachers and police officers — may hold big positions in hedge funds. That means a financial hit for hedge funds could spill over to workers' retirement assets."Your 'eat the rich' mentality just took a bite out of the pension funds of working Americans," Barbara Roper, director of investor protection at the Consumer Federation of America, said of Game...

Jan282021 by adminNo Comments

Reddit forum’s role in Gamestop shares frenzy faces regulatory probe

Business

US financial market regulators are to review the extraordinary rallies in the shares of struggling gaming retailer Gamestop, part-driven by participants of an investor forum on Reddit.The Securities and Exchange Commission said it was working with fellow regulators to "assess the situation and review the activities of regulated entities, financial intermediaries, and other market participants." The action reflects deep and widespread concern over the functioning of financial markets.Gamestop shares were up by 1,744% in the year to date - with a market value above $ 20bn - at the close of trading on Wednesday night. Image: The share frenzy has attracted White House scrutiny as treasury secretary Janet Yellen monitors developments The v...

Jan212021 by adminNo Comments

Next ditches TopShop offer amid bidding frenzy

Business

Next has pulled out of the bidding for TopShop as the auction of Sir Philip Green’s former high street empire enters its closing stages.Sky News has learnt that a consortium comprising Next and Davidson Kempner Capital Management, a US investment firm, have withdrawn from a process being run by Arcadia Group's administrator. The surprise move comes days after Next and a handful of rivals tabled final offers for TopShop, with a separate process being run for other Arcadia brands such as Burton and Dorothy Perkins. Image: Next had tabled a final offer In a statement issued to Sky News on Thursday evening, a Next spokesman said: "Next plc announces that it has withdrawn from the process to acquire any, or all, of the Arcadia Group from t...

Feb292020 by adminNo Comments

Anak Krakatau: Lightning frenzy points to scale of volcanic plume

Science

The 2018 eruption of Anak Krakatau in Indonesia was remarkable in many ways.It will be remembered, obviously, for the sudden flank collapse that triggered the tsunami which killed over 400 people on the nearby coastlines of Sumatra and Java.But the event also has been the source of many scientific insights that could inform future hazard assessments.And a new possibility is the potential for the frequency of lightning seen at an eruption to give a simple guide to the height of a volcano's towering plume.It's information that could be of interest to airlines trying to find safe routes for their planes.Giant blocks from Anak Krakatau litter ocean floor Anak Krakat...