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JPMorgan Cuts US Economic Growth Forecasts 'Perilously Close' to Recession
The Wall Street bank reduced its estimate for annualized gross domestic product growth to 1% for the second quarter, down from 2.5% previously. This quarter is also seen at 1%, down from 2%. Growth will tick up to 1.5% in the final three months of the year, helped by stronger car production and lower inflation, the bank's economists said...
JPMorgan Cuts US Economic Growth Forecasts 'Perilously Close' to Recession
The Wall Street bank reduced its estimate for annualized gross domestic product growth to 1% for the second quarter, down from 2.5% previously. This quarter is also seen at 1%, down from 2%. Growth will tick up to 1.5% in the final three months of the year, helped by stronger car production and lower inflation, the bank's economists said...
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This year's activity coincided with a surge of rookie investors who joined the world of stock trading to ride the historic market rebound. Remote work, stimulus checksandhigher personal savings levels,as well as social media chatrooms only accelerated the boom in retail trading.
The meme stock saga started just days into 2021 when retail traders teamed up on Reddit's WallStreetBets' forum, aiming to bid up $GameStop (GME.US)$'s shares, which were heavily shorted by hedge funds. The retail buying triggered massive short covering among hedge funds that fueled the rally even further.
Trading volume for GameStop and meme stock favorite $AMC Entertainment (AMC.US)$ has faded. About 2.5 million shares of GameStop are changing hands daily based on a 30-day average as of Dec. 22, a fifth of that in January.
--- according to FactSet
Reddit traders also appear less focused on GameStop and AMC, which were the two most-mentioned tickers on WallStreetBets this year.
--- according to data tracker YoloStocks
WallStreetBets mentions for both peaked on Jan. 28 at about 267,000 for GameStop and 47,000 for AMC, but typical days for each over the past few months see hundreds, not thousands, of mentions.
Follow me to know more about meme stocks
Despite recent market sell-offs with GameStop and AMC each dipping to their lowest levels in months on Dec.14. But both stocks are up this year, at about 707% and 1,245% as of Dec.27, respectively .
Performance varies for other stocks popular on Reddit message boards. $Koss Corp (KOSS.US)$jumped 285%, $BlackBerry (BB.US)$ was up 43% for the year, while $Tesla (TSLA.US)$added 51%. On the down side, $ContextLogic (WISH.US)$dipped 80%, $Clover Health (CLOV.US)$dropped about 75%. $Palantir (PLTR.US)$ and $Bed Bath & Beyond Inc (BBBY.US)$ was down roughly 20% and 10%, respectively.
Source: Reddit, CNBC
The meme stock saga started just days into 2021 when retail traders teamed up on Reddit's WallStreetBets' forum, aiming to bid up $GameStop (GME.US)$'s shares, which were heavily shorted by hedge funds. The retail buying triggered massive short covering among hedge funds that fueled the rally even further.
Trading volume for GameStop and meme stock favorite $AMC Entertainment (AMC.US)$ has faded. About 2.5 million shares of GameStop are changing hands daily based on a 30-day average as of Dec. 22, a fifth of that in January.
--- according to FactSet
Reddit traders also appear less focused on GameStop and AMC, which were the two most-mentioned tickers on WallStreetBets this year.
--- according to data tracker YoloStocks
WallStreetBets mentions for both peaked on Jan. 28 at about 267,000 for GameStop and 47,000 for AMC, but typical days for each over the past few months see hundreds, not thousands, of mentions.
Follow me to know more about meme stocks
Despite recent market sell-offs with GameStop and AMC each dipping to their lowest levels in months on Dec.14. But both stocks are up this year, at about 707% and 1,245% as of Dec.27, respectively .
Performance varies for other stocks popular on Reddit message boards. $Koss Corp (KOSS.US)$jumped 285%, $BlackBerry (BB.US)$ was up 43% for the year, while $Tesla (TSLA.US)$added 51%. On the down side, $ContextLogic (WISH.US)$dipped 80%, $Clover Health (CLOV.US)$dropped about 75%. $Palantir (PLTR.US)$ and $Bed Bath & Beyond Inc (BBBY.US)$ was down roughly 20% and 10%, respectively.
Source: Reddit, CNBC
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The apparent short squeeze that began last week in $Longeveron (LGVN.US)$ is continuing on Wednesdays as the share price has been up 122%.
Among speculative biotech stocks, Longeveron continues to outperform the market by a wide margin. Trading at only $3 per share a week ago, shares of LGVN stock has skyrocketed to more than $40 per share.
Some investors relate the upward trend with the FDA approval of their Lomacel-B drug for a Rare Pediatric Disease. But is that the main reason?
Some people said this stock is like $Biora Therapeutics (PROG.US)$ 's bigger younger brother.
Do you agree? Are you going to make any move?
Source:
LGVN Stock: 7 Things to Know as Longeveron Rockets 100% Higher
Among speculative biotech stocks, Longeveron continues to outperform the market by a wide margin. Trading at only $3 per share a week ago, shares of LGVN stock has skyrocketed to more than $40 per share.
Some investors relate the upward trend with the FDA approval of their Lomacel-B drug for a Rare Pediatric Disease. But is that the main reason?
Some people said this stock is like $Biora Therapeutics (PROG.US)$ 's bigger younger brother.
Do you agree? Are you going to make any move?
Source:
LGVN Stock: 7 Things to Know as Longeveron Rockets 100% Higher
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