GameStop Shares Slump After Announcing New Chairman and NIO Shares Rise After Good News From CEO 🎮

Table of Contents

GameStop Shares Slump After Announcing New Chairman and NIO Shares Rise After Good News From CEO

GameStop

On Thursday, shares of GameStop slumped, closing down 4.34%.

Shares of the video game and electronics retailer fell after the company announced its intentions to elect Ryan Cohen to serve as chair.

In a statement, GameStop said at their annual shareholder meeting on June 9, Ryan Cohen will stand for election as chairman. Cohen is the co-founder and former CEO of pet e-commerce company Chewy.

Just last month, GameStop announced Ryan Cohen would lead the company to transition to an e-commerce company. As part of the transition away from brick-and-mortar retail, GameStop has added new executives and technological experience.

Shares of GameStop have exploded over 800% this year.

NIO  

On Thursday, shares of NIO jumped, closing up 3.84%.

Shares of the Chinese electric vehicle manufacturer rose after its CEO discussed NIO’s plans for 2021.

After an event on Wednesday, CEO William Bin Li told investors that NIO and the Chinese city of Hefei would start building a new industrial park for electric vehicles on April 29. The park will be home to a new NIO factory, and the plan to create the new park is part of a larger plan to establish Hefei as a hub for electric vehicle production.

Li also updated investors on the company’s plans to expand its battery-swapping stations in China. NIO hopes to have at least 500 automated battery-swapping stations operating by the end of this year, more than double the number of stations it had operating at the end of 2020.

Shares of NIO are down 20% this year.

I am not a financial advisor and my comments should never be taken as financial advice. Investments come with risk, so always do your research and analysis beforehand.

Share:
More Posts
Market Recap – September 28th 💰

After the 10-year Treasury yield bond fell off from its 15-year high, investors added some value back into the market, focusing all short-term attention on Friday’s PCE price index reading.

The Crude Oil Bust 🛢

Surging global crude oil prices, driven by factors like OPEC+ production cuts have pushed U.S. West Texas Intermediate futures to over $95 per barrel.

Get your daily Invstr Crunch

Get the market news and updates you need, delivered to your inbox or available on our daily podcast.

Risk Disclosure:

Invstr is not a bank and banking services are provided by Vast Bank, N.A.

Brokerage and Banking services are currently only available to U.S. residents.

Invstr app and web services are provided by Invstr Ltd. Advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC) details of which can be obtained here. Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value.

Investing involves risk and can lead to losses. Past performance does not guarantee future results.

Invstr app and web services are provided by Invstr Ltd. Invstr+ advisory services are provided by Invstr Financial LLC, an investment adviser registered with the Securities Exchange Commission (SEC). Securities brokerage and custody services are provided by Apex Clearing, a broker dealer registered with the SEC and a member of FINRA and SIPC. There is no bank guarantee on securities and securities may lose value. Vast Bank N.A. a nationally chartered bank and member of the FDIC, provides the banking products, including the products and services related to digital asset accounts. As with any asset, the value of Digital assets can go up or down and there can be a substantial risk that you lose money buying or holding digital assets. You should carefully consider whether trading or holding Digital assets is suitable for you in light of your financial condition. Your digital account does not support wallet to wallet transferring of your digital assets (i.e. cryptocurrencies) outside the platform. Any Digital Assets in your digital asset account are not insured by any government entities, including but not limited to FDIC or SIPC. The Invstr Visa® Debit Card is issued by Vast Bank, N.A. pursuant to a license from Visa U.S.A Inc and may be used everywhere Visa debit cards are accepted. Invstr Ltd, Invstr Financial LLC and Invstr Securities Ltd are subsidiaries of Marketspringpad Holdings (collectively “Invstr”) and Invstr is solely responsible for the application services and website content.

Watchlists provided when users first access the service are not a recommendation to invest. Instead they are provided to help users better navigate the service. Users are free to edit and create their own watchlists. From time to time, Invstr will suggest instruments solely based on an individual’s interest and the interest levels of the Invstr community. The statistical and portfolio builder models generated by Invstr do not reflect actual investment results and are not guarantees of future results. Comments provided by Invstr leaders, influencers or members of the Invstr Community are not recommendations and should not be construed as such. Invstr does not endorse the content or the positions posted by them. Their investment approach, and that of the models provided by Invstr, may be different from yours and may not be appropriate for you.