GameStop surges more than 30% and is halted in odd trading; AMC shares also pop

A screen displays the logo and trading information for GameStop on the floor of the New York Stock Exchange (NYSE) March 29, 2022.

Brendan McDermid | Reuters

Shares of two meme stocks surged on Thursday, adding an unexpected wrinkle for a stock market that has been dropping in choppy trading for more than a month.

GameStop jumped more than 30% and was halted for volatility multiple times. The stock of theater chain AMC Entertainment popped more than 20%.

GameStop and AMC turned heads early last year when a band of retail investors coordinated trades on online chatrooms to create massive short squeezes in these stocks widely hated by hedge funds and other players. The meteoric rallies inflicted huge pains for many hedge funds and other short sellers involved in these speculative names.

Since then, the stocks have retreated from their peak prices, and short-sellers have started to build positions once again.

This is breaking news. Please check back for updates.

Source

World

Baidu’s robotaxi unit plans Europe expansion

May 14, 2025

More than 70% of Baidu Apollo Go robotaxi rides in Wuhan were fully driverless as of April, and the company said in May it expected 100% of the rides to be completely autonomous in coming quarters. Bloomberg | Bloomberg | Getty Images BEIJING — Chinese tech company Baidu‘s Apollo Go robotaxi business plans to expand […]

World

Trump meets Syrian leader in Saudi Arabia the day after announcing end of U.S. sanctions

May 14, 2025

The leader of Syria’s Islamist Hayat Tahrir al-Sham (HTS) group that headed a lightning rebel offensive snatching Damascus from government control, Abu Mohammed al-Jolani, addresses a crowd at the capital’s landmark Umayyad Mosque on December 8, 2024. Abdulaziz Ketaz | Afp | Getty Images U.S. President Donald Trump met with Syrian leader Ahmed al-Sharaa in […]

World

CNBC’s The China Connection newsletter: U.S.-China relations have changed

May 14, 2025

The U.S. and China flags stand behind a microphone at the U.S. Embassy in Beijing on April 9, 2009. Frederic J. Brown | AFP | Getty Images This report is from this week’s CNBC’s The China Connection newsletter, which brings you insights and analysis on what’s driving the world’s second-largest economy. Each week, we’ll explore […]