Welcome to Extreme Investor Network, where we provide you with the latest updates on companies making headlines in the financial world. Today, we take a closer look at some of the top stock movements in midday trading.
Meme stocks continue to dominate the market, with GameStop surging around 60% and AMC popping 32%. The return of “Roaring Kitty” has sparked a new wave of excitement around these names, driving their prices higher. Other meme stocks like BlackBerry and Koss also saw sharp increases in their stock prices.
In the tech sector, Chinese company Alibaba saw a 6% drop in its stock price after reporting an 86% decrease in net income for its fiscal fourth quarter. However, the company surpassed revenue expectations. On the other hand, Sony’s U.S.-listed shares jumped 6.7% following better-than-expected quarterly revenue.
Telecommunications giant Vodafone saw a 4.8% increase in its U.S. shares after posting full-year profits that beat expectations. Additionally, shoe maker On Holding experienced an 18.3% jump in its stock price after reporting strong first-quarter earnings.
In the travel industry, United Airlines added 1.3% after announcing strong expectations for summer travel, with plans for the busiest Memorial Day period on record. Consumer goods stock Newell Brands rallied 5.7% following an upgrade by Barclays, citing a normalization in business following the pandemic pull-forward in demand.
Video game developer Roblox saw a 2.3% increase in its stock price, providing relief amidst a tough month. The Boston Beer Company also saw a slight 0.3% increase after being upgraded by Jefferies to buy from hold, pointing to positive trends in sales.
At Extreme Investor Network, we provide unique insights and analysis on market trends and stock movements to help you make informed investment decisions. Stay tuned for more updates on the latest happenings in the financial world!