Sam is a professional trader and the lead stock market news writer at AskTraders. After starting his career in the forex market, Sam now focuses on gold and stocks with a preference for fundamental and macroeconomic analysis.
There have been some crazy moves so far today in the US market. GameStop reached highs of $159.18 before hurtling back towards $90 per share.
Express Inc also surged, up over 11% at $4 per share, while it is now trading at $3.29. Again due to retail investors piling into the stock.
Elsewhere, US 10y yields are down 5%, while US equities are sliding with the Dow down 1%, the S&P 500 down 0.64% and the Nasdaq 0.34% lower.
According to reports in South Korea, Tesla has partnered with Samsung on a new 5nm chip for full self-driving.
Tesla shares are up on the news, sitting at $893.51, +5.54%.
AFH Financial Group PLC announced it has agreed to a £224.5 million takeover offer made by Cortina Bidco Ltd.
Cortina Bidco will acquire the wealth management company for463p per share, a 16% premium on AFH’s Friday closing price.
AFH Financial shares are currently trading at 458p, up 15.16%
TS Innovation Acquisitions Corp’s (NASDAQ: TSIA) shares are surging on Monday after it was revealed that Latch Inc plans to go public via a blank check merger with the company.
The EU is to order pharmaceutical companies to register their Covid-19 vaccine exports in advance according to EU officials.
Shares of BlackBerry are up 27.92% at $17.94 premarket, despite a Bloomberg report last week that insiders are unloading their shares.
BlackBerry shares also saw a rapid rise last week, gaining 42.68%.
Shares of Synairgen plc (LON: SNG) surged 13.6% after its respiratory COVID-19 drug SNG001 was included in the US ACTIV-2 Phase II trial targeting patients with the coronavirus whose symptoms do not warrant hospitalisation.
GameStop shares, which saw an enormous 83% rise last week, are up over 73% premarket on Monday at $113.
The surge came after activist short-seller Citron Research outlined five reasons to sell the stock. However, retail day traders have driven the price to all-time highs.
Citron maintain that GME is going to $20. That is in fact above the average price target of six Wall Street analysts surveyed by TipRanks…
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