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☆ Karen Firestone: Cheap stocks are appealing – but not always the best deal. Here’s why
▼ + stars: | 2024-06-30 | by ( Karen Firestone | ) www.cnbc.com time to read: +5 min

The higher the PE ratio, the more investors believe the business will generate strong earnings growth in the future to justify the price today. Even excluding the technology sector, which trades at a robust 30.8 times earnings, the market's PE is a solid 18.3 times next year's earnings, according to FactSet. One place investors scour is the list of low PE stocks, which they perceive as offering attractive value because they are "cheap." First, when growth stocks are in their early stage of expansion, they can grow earnings in the high double-digits range. Then, we grouped these equities into quintiles based on their relative PE ratio from highest (1 st quintile) to lowest (5 th quintile).

Persons: Karen Firestone Organizations: Microsoft, Apple, Nike, Asset Management, Traders, New York Stock Exchange

☆ More companies are staying quiet during Pride, but money is still flowing to LGBTQ+ causes
▼ + stars: | 2024-06-30 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +8 min

A GLAAD spokesperson said Friday that the group has not seen donations or corporate support decline this Pride month, though it does not yet have a total tally. Pride Month merchandise is displayed at a Target store on May 31, 2023 in San Francisco, California. A sign disparaging Bud Light beer is seen along a country road on April 21, 2023 in Arco, Idaho. Anheuser-Busch, the brewer of Bud Light has faced backlash after the company sponsored two Instagram posts from a transgender woman. For its part, Bud Light hasn't posted in support of Pride month on its Instagram or X pages this year.

Persons: Stephen J, Cohen, Bud Light, Luke Hartig, Tim Bennett, Bennett, Sarah Kate Ellis, Ellis, JPMorgan Chase, Booking.com, Joe Biden, Justin Sullivan, Bud, Target, Natalie Behring, Kid Rock, Ron DeSantis, influencer Dylan Mulvaney, Bud Light's, Michel Doukeris, Bud Light hasn't, Neil Reid, Reid, Tarang Amin, Tara Dziedzic Organizations: Getty, Gravity Research, D.C, Fortune, Tribury Productions, Procter & Gamble, GLAAD, Stonewall, Monument Visitor Center, New, Google, JPMorgan, Target, Pride Month, Anheuser, Busch, Busch InBev, Florida Gov, Constellation Brands, Modelo, InBev, UFC, RBC, University of Toledo, Fox News, The New York Stock Exchange, NYSE Locations: Louisville , Kentucky, Washington, New York City, San Francisco , California, Arco , Idaho, U.S, RBC Europe

☆ I'm pulling out my old hedge fund playbook to see which stocks are working — and which ones are not
▼ + stars: | 2024-06-28 | by ( Jim Cramer | ) www.cnbc.com time to read: +9 min

I found this levered concept incredibly valuable when I ran other peoples' money at my hedge fund years ago. My first question to them, usually interjected, rudely, if I were bored or confused was: "What the heck is this business levered to?" Palo Alto Networks To understand this kind of leverage that I am talking about — as opposed to the kind that involves debt —let's start with something easy, let's start with the stock of Palo Alto Networks . We own Palo Alto because its fortunes are levered to something that has the most explosive growth of an industry I know: cybercrime. If we didn't own Palo Alto we would own CrowdStrike.

Persons: —, Nikesh Arora, Estee Lauder, Wynn, Fabrizio Freda, Jim Cramer's, Jim Cramer, Jim, Virginia Sherwood Organizations: Palo Alto, Palo Alto Networks, Wynn, GE Healthcare, Danaher, Wynn Resorts, Costco TJX Companies, Costco, Jim Cramer's Charitable, CNBC, NYSE Locations: Palo, China, Las Vegas, Macao, Maxx

☆ CNBC Daily Open: Roaring Kitty, Nike flops, inflation on deck
▼ + stars: | 2024-06-28 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

A trader works on the floor of the New York Stock Exchange (NYSE) during morning trading on March 4, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Nike warningShares of Nike plunged 12% in extended trading after the sneaker giant slashed its full-year guidance, anticipating a 10% drop in sales for the current quarter. Roaring Kitty, back againChewy shares experienced a rollercoaster ride on Thursday, soaring as much as 34% following a cryptic post by meme stock influencer Roaring Kitty, before falling back into negative territory.

Persons: Matthew Friend, Nike's, Tim Wentworth, Kitty, CNBC's Michelle Fox Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Micron, Nvidia, Treasury, Nike, Walgreens, BCA Research Locations: New York City, U.S, Israel, Lebanon, Greater China, China

☆ CNBC Daily Open: Micron slides, Amazon's $2 trillion
▼ + stars: | 2024-06-27 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Persons: Sanjay Mehrotra, Annie Palmer, Elliott Management, Shunichi Suzuki, Australia's, Arjun Jayaraman Organizations: New York Stock Exchange, CNBC, Dow Jones, Nasdaq, Nvidia, Micron, Apple, Microsoft, Southwest Airlines, Delta, U.S ., Finance, CSI Locations: New York City, Shein, Asia, Pacific, India

Many merchants and trade groups including the National Retail Federation opposed the accord, saying card fees would remain too high, while Visa and Mastercard would retain too much control over card transactions. The decision could force Visa and Mastercard to negotiate a settlement more favorable to merchants, or go to trial. Visa and Mastercard said they were disappointed with the outcome. Some U.S. senators have promoted legislation, the Credit Card Competition Act, to let merchants use other payment networks to process Visa and Mastercard transactions. The judge's decision does not affect an earlier $5.6 billion class action swipe fee settlement among Visa, Mastercard and about 12 million merchants.

Persons: Brendan McDermid, Margo Brodie, Brodie, Nilson, Doug Kantor, Jonathan Stempel, Deepa Babington, Leslie Adler Organizations: Mastercard Inc, New York Stock Exchange, REUTERS, Companies, Mastercard, National Retail Federation, Visa, National Association of Convenience Stores, U.S, Merchant Discount Antitrust Litigation, Court, Eastern District of, Thomson Locations: New York City, U.S, Brooklyn, Manhattan, Eastern District, Eastern District of New York, New York

☆ KKR acquires $2.1 bln portfolio of multifamily real estate assets from Quarterra
▼ + stars: | 2024-06-25 | by ( ) www.reuters.com time to read: +1 min

REUTERS/Brendan McDermid/File Photo/File Photo Purchase Licensing Rights New Tab , opens new tabJune 25 (Reuters) - Investment firm KKR (KKR.N) New Tab , opens new tab acquired a portfolio of 18 multifamily real estate assets on Tuesday from a closed end fund sponsored by developer Quarterra Multifamily for about $2.1 billion. The portfolio includes 5,200 units across California, Washington, Florida, Texas, Georgia, North Carolina, Colorado and New Jersey. "We believe this is a great moment to invest in real estate, as transaction activity starts to pick up on the heels of two-years of dislocation in commercial real estate markets," said Justin Pattner, KKR's head of real estate equity in the Americas. KKR will partner with prominent multifamily real estate operators Carter-Haston, MG Properties and Dalan Real Estate to operate the assets. New Tab , opens new tab

Persons: Brendan McDermid, Quarterra, Justin Pattner, Carter, Pritam Biswas, Krishna Chandra Organizations: KKR, New York Stock Exchange, REUTERS, Investment, Thomson Locations: New York, U.S, California, Washington , Florida , Texas, Georgia, North Carolina , Colorado, New Jersey, Americas, Bengaluru

☆ Stock futures are little changed after Nasdaq Composite registers worst day since April: Live updates
▼ + stars: | 2024-06-24 | by ( Samantha Subin | ) www.cnbc.com time to read: +2 min

Traders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 24, 2024. Stock futures were flat in overnight trading after a selloff in favored technology names brought the Nasdaq Composite to its worst day since April. During the regular session, the Dow Jones Industrial Average bucked Monday's selloff, adding nearly 261 points, or 0.67%. The S&P 500 dropped 0.31%, while the Nasdaq Composite shed 1.09% for its worst day since April as investors rotated out of semiconductors. Wall Street is looking ahead to earnings from FedEx and Carnival on Tuesday as the season nears its end.

Persons: Jeff deGraaf, CNBC's Organizations: New York Stock Exchange, Stock, Nasdaq, Dow Jones, SolarEdge Technologies, Pool Corp, Nvidia, Qualcomm, Broadcom, FedEx, Richmond Fed Locations: New York City, U.S

☆ CNBC Daily Open: Dow posts best week since May, Tesla cuts 14% of workforce
▼ + stars: | 2024-06-24 | by ( Abid Ali | ) www.cnbc.com time to read: +3 min

Traders work on the floor during morning trading at the New York Stock Exchange (NYSE) on March 6, 2024 in New York City. This report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The tech-centric Nasdaq Composite remained flat, while the Dow Jones Industrial Average had its best week since May, rising 1.45%. Most Asia markets fallMost Asia-Pacific markets were trading lower as investors awaited inflation data from Australia and Japan later this week.

Persons: JPMorgan Chase, Goldman Sachs, Tesla, Elon Musk, Musk, Australia's, Kospi, Seng, Morgan Stanley's Andrew Slimmon Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Nasdaq, Dow Jones, Citigroup, JPMorgan, Bank of America, Apple Intelligence, Union, Nikkei, Bank of, CSI Locations: New York City, Asia, Pacific, Australia, Japan, Bank of Japan

☆ Worried about a frothy market? Here's how to start building a long-term stake anyways
▼ + stars: | 2024-06-23 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Here's our Club Mailbag email investingclubmailbag@cnbc.com — so you send your questions directly to Jim Cramer and his team of analysts. I realize since joining the Club I need to buy the S & P 500 to provide proper diversification. Kelly (Toronto) Several factors need to be considered to chart an appropriate course of action to get money to work. In this kind of situation, the old investment adage by Ken Fisher is applicable: "Time in the market beats timing the market." As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade.

Persons: Jim Cramer, Jim, Jeff, Kelly, Ken Fisher, It's, Vanguard's, it's, Cash, Jim Cramer's, Brendan McDermid Organizations: CNBC, Club, Vanguard's, Jim Cramer's Charitable, Traders, New York Stock Exchange Locations: Toronto, New York City, U.S

☆ China talks up support for IPOs. Investors are watching the speed of approval
▼ + stars: | 2024-06-21 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +4 min

Mike Segar | ReutersBEIJING — Chinese authorities this week announced new policy for supporting venture capital, raising hopes for faster approvals of initial public offerings in the near future. The new policy included a section on expanding exit channels for venture capital, with an emphasis on supporting companies with technological breakthroughs. Investors, especially those who put U.S. dollars into China-based venture capital funds, have preferred IPOs in the U.S. as the largest and most liquid market. Separately, the U.S. has increased its scrutiny of U.S. capital going into China, especially military-related entities. The China Securities Regulatory Commission has increased fines for misleading investors and clarified requirements for overseas IPOs.

Persons: Mike Segar, Marcia Ellis, Morrison Foerster, Ellis, Winston Ma, Ming Liao, Didi, Morrison Foerster's Ellis, Fang Xinghai, Fang Organizations: New York Stock Exchange, Reuters, State Council, U.S, Venture, NYU School of Law, Investors, Prospect, CNBC, China Securities Regulatory Commission Locations: Manhattan, New York City , New York, U.S, Reuters BEIJING, China, Prospect Avenue, Hong Kong, London

That's pushed tech heavyweights and Club names such as Apple , Nvidia , Microsoft and Broadcom higher and the S & P 500 to record highs along with them. The market-cap weighted S & P 500, which we report on all time, has gained more than 4% since May 30. But, a version of the index that assigns each company the same influence, known as the S & P 500 Equal-Weight , has advanced only around 1%. The divergence helps explain why our trusted momentum indicator, the S & P Short Range Oscillator , has been closer to oversold territory than overbought during the run higher. Recent years haven't been so kind to them, with the stock underperforming the S & P 500 considerably over the past three years.

Persons: That's, Morgan Stanley, Wells, Banks, Abbott, We've, Lingo, Stanley Black, Decker, DuPont, DuPont —, Ed Breen, Lori Koch, Vimal Kapur, Jim Cramer, Darius Adamczyk, haven't, Jim Cramer's, Jim, Johannes Eisele Organizations: Apple, Nvidia, Microsoft, Broadcom, Wall Street, Federal, Abbott, Abbott Labs, Mizuho Securities, DuPont, Honeywell, Systems, Jim Cramer's Charitable, CNBC, New York Stock Exchange, Wall, Afp, Getty Locations: Dover, Wells Fargo, Missouri, Abbott's, U.S, Decker, New York City

☆ CNBC Daily Open: Nvidia unseats Microsoft as world's most valuable company
▼ + stars: | 2024-06-19 | by ( Abid Ali | ) www.cnbc.com time to read: +5 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. The shift presents challenges for tech-focused ETFs and could affect their holdings of heavyweights like Nvidia , Microsoft , and Apple . Markets are pricing in at least two rate cuts this year, while Fed officials have indicated only one rate cut is likely. Nvidia takes the crown Nvidia on Tuesday surpassed Microsoft to become the world's most valuable public company with a market cap of $3.34 trillion. Federal Reserve Governor Adriana Kugler signaled the likelihood of a rate cut later this year.

Persons: Dave Calhoun, Josh Hawley, Calhoun, Hawley, Paul Ashworth, Susan Collins, Collins, Adriana Kugler, " Kugler, Jeff Cox, Cox, Claudia Sahm, —, Kif Leswing, Bob Pisani, Leslie Josephs, Alex Harring, Samantha Subin, Spencer Kimball, Yun Li, Lim Hui Jie Organizations: New York Stock Exchange, CNBC, Nvidia, Microsoft, Apple, Federal Reserve, Fed, Boeing, Federal, North, Capital Economics, Boston Federal, Peterson Institute for International Economics Locations: New York City, U.S, North America, Boston, Lawrence , Massachusetts, Washington

☆ CNBC Daily Open: Boeing's reckoning
▼ + stars: | 2024-06-18 | by ( Abid Ali | ) www.cnbc.com time to read: 1 min

In this article BA Follow your favorite stocks CREATE FREE ACCOUNTTraders work on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., Feb.12, 2024. Brendan Mcdermid | ReutersThis report is from today's CNBC Daily Open, our international markets newsletter. CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. What you need to know todayGet the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. SubscribeThe bottom line

Persons: Brendan Mcdermid Organizations: New York Stock Exchange, Reuters, CNBC Locations: New York City, U.S

The meme stock was down about 12%, as the company's rescheduled shareholder event wrapped up with no detailed remarks about its strategies. GameStop shares dropped to session lows Monday after the company's highly anticipated annual meeting failed to offer any concrete updates on the video game retailer's future plans. Cohen didn't provide more specifics on the company's future growth strategies. GameStop is still struggling with a transition to online gaming and away from brick-and-mortar video game purchases, with investors banking on Cohen to eventually reinvent the company. The retailer recently raised more than $2 billion in an at-the-market equity sale as the video game company took advantage of the revived meme rally.

Persons: Ryan Cohen, Cohen, Cohen didn't, Roaring Kitty, Keith Gill, Gill Organizations: GameStop, New York Stock Exchange Locations: New York City, U.S

☆ The AI boom is unraveling the most dominant tech trade of the last decade
▼ + stars: | 2024-06-15 | by ( Matthew Fox | ) www.businessinsider.com time to read: +5 min

Software stocks have been slammed this year after a long period of strong performance. Meanwhile, hardware stocks are reaping the benefits of the AI boom as their profits soar. AdvertisementYear-to-date, hardware tech stocks are outperforming software tech stocks by a whopping 30 percentage points. AdvertisementThis dynamic means that hardware stocks will continue to outperform software stocks through 2025, according to Mortonson. "The moats that some of the software companies, not all but some, have around their businesses are not going to be quite as high.

Persons: Ted Mortonson, —, Baird, Mortonson, It's, Larry Tentarelli, Chip, Steve Eisman, Eisman Organizations: Service, Software, NYSE Arca, Dow Jones US Software, Nvidia, AMD, Micro Computer, Broadcom, Dell, Chip Daily, CNBC Locations: Salesforce, Snowflake

☆ The 4 key things we're watching in the stock market this holiday-shortened week
▼ + stars: | 2024-06-15 | by ( Zev Fima | ) www.cnbc.com time to read: +6 min

Also helping was the 8.5% rally in portfolio heavyweight Nvidia following its 10-for-1 stock split on Monday. Within the Club this week, we heard from Broadcom , which reported strong quarterly results and announced its own 10-for-1 stock split. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. Jim waits 45 minutes after sending a trade alert before buying or selling a stock in his charitable trust's portfolio. If Jim has talked about a stock on CNBC TV, he waits 72 hours after issuing the trade alert before executing the trade.

Persons: Economists, Jerome Powell, financials, That's, Here's, FactSet, Lennar, LEN, Jabil, Smith, Jim Cramer's, Jim Cramer, Jim, Brendan McDermid Organizations: Nasdaq, Dow Jones, Wednesday, PPI, Apple, Broadcom, Oracle, Adobe, Nvidia, Investors, Housing, Monday, Darden, Olive Garden, Longhorn, U.S, Accenture, Kroger, KR, Wesson, Jim Cramer's Charitable, CNBC, Federal Reserve, New York Stock Exchange Locations: U.S, Olive, New York City

☆ Friday's trading could trigger a $10 billion rush of demand for Nvidia shares. Here's how
▼ + stars: | 2024-06-14 | by ( Jesse Pound | In Jesse-Pound | ) www.cnbc.com time to read: +5 min

At stake is one of the top two spots in the Technology Select Sector SPDR Fund (XLK) , whose June rebalance is based on market cap values as of Friday's close. The market caps of Microsoft, Apple and Nvidia were all within $100 billion of each other as of Thursday's close, according to a FactSet calculation. This type of big shift in an index fund is unusual, but not unprecedented. The fund tracks an index from S & P Dow Jones Indices that uses weighting caps to keep the index in bounds. Depending on how many shares of Nvidia are required, it might cause a short-term spike in the name," Bajaj said.

Persons: Dow, Dow Jones, Matthew Bartolini, Bartolini, Mohit Bajaj, SPDR, Bajaj, Todd Sohn, — CNBC's Michael Bloom Organizations: Nvidia, Technology, Apple, Microsoft, Dow Jones, Dow Jones Indices, UBS, SPDR, Amazon, Trading, WallachBeth, Bajaj, Street Global Advisors, NYSE Technology Locations: U.S, SPDR Americas, rebalancing

☆ Adobe shares surge 15%, head for sharpest rally since 2020
▼ + stars: | 2024-06-14 | by ( Katie Bartlett | ) www.cnbc.com time to read: +3 min

Adobe CEO Shantanu Narayen speaks during an interview with CNBC on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., February 20, 2024. Adobe shares surged 15% on Friday, the biggest gain since March 2020, after the software maker reported earnings and revenue that beat analysts' estimates. Salesforce shares suffered their worst plunge since 2004 late last month after the cloud software vendor posted weaker-than-expected revenue and issued disappointing guidance. Even after Friday's rally, Adobe shares remain down 12% for the year. WATCH: CNBC's interview with Adobe CEO Shantanu Narayen

Persons: Shantanu Narayen, Narayen, Salesforce, CrowdStrike, Piper Sandler Organizations: CNBC, New York Stock Exchange, Adobe, Creative, Digital Media, Oracle, Google Locations: New York City, U.S

☆ Here's why Danaher shares fell 4% on Thursday — a week after hitting record highs
▼ + stars: | 2024-06-13 | by ( Jeff Marks | ) www.cnbc.com time to read: +4 min

Every weekday, the CNBC Investing Club with Jim Cramer releases the Homestretch — an actionable afternoon update, just in time for the last hour of trading on Wall Street. Stocks little changed: Markets were mixed to lower Thursday following a rally to new record highs Wednesday. As a subscriber to the CNBC Investing Club with Jim Cramer, you will receive a trade alert before Jim makes a trade. THE ABOVE INVESTING CLUB INFORMATION IS SUBJECT TO OUR TERMS AND CONDITIONS AND PRIVACY POLICY , TOGETHER WITH OUR DISCLAIMER . NO FIDUCIARY OBLIGATION OR DUTY EXISTS, OR IS CREATED, BY VIRTUE OF YOUR RECEIPT OF ANY INFORMATION PROVIDED IN CONNECTION WITH THE INVESTING CLUB.

Persons: Jim Cramer, Danaher, Tony Hunt, Repligen, Stifel, we'll, Jim Cramer's, Jim, Andrew Kelly Organizations: CNBC, Treasury, Broadcom, Jim Cramer's Charitable, New York Stock Exchange Locations: financials, Michigan, New York City, U.S

Traders work at the post where GameStop is traded on the floor at the New York Stock Exchange (NYSE) in New York City, U.S., June 12, 2024. GameStop's annual shareholder meeting was disrupted by computer problems Thursday, as servers crashed under overwhelming interest in the stream, a customer service representative for the company hosting the stream told CNBC. According to a YouTube stream from an unaffiliated user purporting to reproduce the feed, the annual meeting was brought to order at 11:48 a.m. The rep said Computer Share's servers appeared to be unable to handle the amount of traffic the meeting had received and weren't accustomed to the volume of accounts. They added that Computer Share's tech team was working to solve the issue and advised interested parties to attempt to log in "every 5 to 10 minutes."

Persons: weren't, Keith Gill —, —, Gill Organizations: GameStop, New York Stock Exchange, CNBC, Share Locations: New York City, U.S

☆ Databricks tells investors annualized revenue will reach $2.4 billion at midway point of year
▼ + stars: | 2024-06-12 | by ( Jordan Novet | ) www.cnbc.com time to read: +3 min

Ali Ghodsi, co-founder and CEO of Databricks, speaks at a press conference at Databricks' Data and AI Summit in San Francisco on June 12, 2024. Databricks, the data analytics software vendor that's among the most richly valued private U.S. tech companies, told investors on Wednesday that annualized revenue will reach $2.4 billion by the midpoint of this year. In April, security software company Rubrik debuted on the New York Stock Exchange. In March, the company told media outlets outlets that it generated $1.6 billion in revenue for the year ending Jan. 31, up more than 50% year over year. Last week Databricks said it was paying over $1 billion to buy Tabular, a startup whose founders created Iceberg.

Persons: Ali Ghodsi, Dave Conte, I've, Conte, Rubrik, Conte didn't, Databricks, Ghodsi, Snowflake Organizations: Databricks, Summit, New York Stock Exchange, NYSE, CNBC Locations: San Francisco

☆ CNBC Daily Open: Apple shares pop, Musk drops OpenAI lawsuit
▼ + stars: | 2024-06-12 | by ( Abid Ali | ) www.cnbc.com time to read: +4 min

CNBC Daily Open brings investors up to speed on everything they need to know, no matter where they are. Musk drops OpenAI suit Elon Musk dropped his lawsuit against OpenAI, CEO Sam Altman and President Greg Brockman, which alleged breach of contract and fiduciary duty. Apple pops Apple 's shares rose to a record high a day after it announced its push into artificial intelligence. Get the CNBC Daily Open report in your inbox every morning and keep up to date with the markets wherever you are. For more, CNBC's Jeff Cox explains there could be a huge impact from the consumer price index and the Fed meeting.

Persons: Paul Jacobson, Elon Musk, Sam Altman, Greg Brockman, Siri, OpenAI, Morgan Stanley, Goldman Sachs, David Malpass, Dennis Lockhart, Jeff Cox, — CNBC's Lim Hui Jie, Lisa Kailai Han, Alex Harring, Spencer Kimball, Hayden Field, Samantha Subin, Ashley Capoot, Michael Wayland Organizations: New York Stock Exchange, CNBC, General Motors, GM, OpenAI, Microsoft, Apple, Apple Intelligence, Federal Reserve, Brent, Bank, Biden, Strategic Petroleum Reserve, Atlanta Fed Locations: New York City, U.S, San Francisco

☆ GameStop shares slide 16% following Friday's 40% sell-off
▼ + stars: | 2024-06-10 | by ( Yun Li | ) www.cnbc.com time to read: +2 min

Meanwhile, meme stock champion Keith Gill hosted his first livestream in a few years Friday. He revealed that he didn't have any institutional backers and the GameStop positions he had shared in screenshots were his only bets. The video game company's stock declined to just below $24 apiece on Monday after falling nearly 40% on Friday alone. GameStop shares fell more than 16% on Monday as the meme stock extended Friday's sell-off sparked by a dismal earnings report and a uninspiring livestream from Roaring Kitty. The analyst thinks that any boost GameStop got from Gill could turn out to be short-lived.

Persons: Keith Gill, Gill, Roaring Kitty, Michael Pachter, Pachter, NFTs, Roaring Organizations: New York Stock Exchange, GameStop, Amazon Locations: New York, Roaring

☆ Katie Stockton on whether it's time to start worrying about the weak market breadth
▼ + stars: | 2024-06-10 | by ( ) www.cnbc.com time to read: +7 min

The major averages have been able to push higher recently, but there are signs that market breadth is deteriorating in a negative divergence. —Katie Stockton with Will Tamplin Access research from Fairlead Strategies for free here . This communication has been prepared by Fairlead Strategies LLC ("Fairlead Strategies") for informational purposes only. Securities, investment products, other financial products or strategies discussed herein may not be suitable for all investors. The recipient of this information must make its own independent decisions regarding any securities, investment products or other financial products mentioned herein.

Persons: Russell, Katie Stockton Organizations: NYSE, Tactical Sector, Fairlead, CNBC Pro, Securities Locations: U.S

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