Big hedge funds made big bets that GameStop’s stock was overvalued. The way these bets work is the hedge fund borrows shares of the stock and sells those borrowed shares. When it comes time to give the borrowed shares back, they buy them on the market, hopefully at lower prices. For example, they might sell … Read more
Twitter’s stock price dropped a shocking 12% on Monday, erasing $5 billion from its market capitalization. The massive hit is associated with the social-media giant’s removal of President Donald Trump’s account on Friday. “After close review of recent Tweets from the @realDonaldTrump account and the context around them we have permanently suspended the account due to … Read more
Some payments began to go out on Tuesday night. Find out when yours will come here. Treasury Secretary Steven Mnuchin said some of the $600 payments might be sent by direct deposit to Americans’ bank accounts as early as Tuesday night. Mnuchin also tweeted that paper checks will begin to go out to citizens on … Read more
The ongoing pandemic is having a colossal economic impact on the global economy. This is a breakdown on the impact of the COVID-19 pandemic on economic activity. The Economist’s Zanny Minton Beddoes, and Edward Carr answer questions about the global economy.
On Monday, we’ll learn the full details of the Senate Republicans’ plan for the next economic rescue package. Majority Leader Mitch McConnell has said it will include a second stimulus check. We know that Senate and White House leaders are looking to follow the $1,200 stimulus check guideline that the CARES Act set out when … Read more
United States stocks soared today, cutting into sharp losses from a sudden selloff. Dow industrials were up about 2.7% at 11am after shedding 6.9% the previous day. Stocks were hammered as fears about an increase in coronavirus cases and a somber economic outlook from the US Federal Reserve forced investors to confront risks that had … Read more
The economy of the United States gas officially entered a recession, ending a record 128-month period of expansion. The National Bureau of Economic Research, the body that determines recessions, bringing an end to the longest expansion in post-World War II history. US Gross Domestic Product reportedly fell by 5% in the first quarter of 2020, per … Read more
