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Reuters | Equities.com |

Shares of Clover Health Investments Corp jumped as much as 109% on Tuesday as it became a new focus for small individual traders on social media platforms who have prompted rallies in heavily shorted U.S. stocks this year.

Traders had exchanged more than $14 billion worth of Medicare-backed insurance seller Clover Health shares by the close, eclipsing the company's overall stock market value of about $9 billion.


Reuters | Equities.com |

Shares of Reddit trader favorite AMC Entertainment surged another 25% on Wednesday and were headed for a record high as the pack of individual investors behind recent gains were unfazed by a hedge fund flipping its stake in the cinema operator.

Mudrick Capital Management bought 8.5 million new AMC shares for $230 million on Tuesday before later selling them at a profit, according to a source, a bold move by the fund and the company to cash in on the retail-driven surge in its stock.


Reuters | Equities.com |

Shares of AMC Entertainment soared on Thursday, notching a 35% one-day gain in a rally that burned bearish investors and sparked jubilation among the stock's online supporters.

The movie theater chain’s market value ended the session at $11.9 billion as its shares closed at $26.52, with the highest trading volume of any stock on U.S. exchanges on the day. The shares are now up 1,150% year-to-date after hitting their highest level in four years.


Kimberly Redmond | Equities.com |

Billionaire investor Bill Ackman’s hedge fund, Pershing Square Capital Management LP, has amassed a 6% stake in Domino’s Pizza Inc (NYSE: DPZ), according to The Wall Street Journal.

During The Wall Street Journal’s Future of Everything Festival on Wednesday, Ackman revealed Pershing Square exited what was once a stake of more than 1% in Starbucks Corporation after the coffee chain’s quick rebound from the pandemic and picked up Domino’s shares following a pullback.


Reuters | Equities.com |

Bain Capital is looking at formulating a bid to acquire Toshiba Corp, two people familiar with the matter said, making it one of several firms said to be interested in taking the Japanese conglomerate private.

The U.S. firm has entered into discussions with Japanese banks including the core units of Mizuho Financial Group Inc and Sumitomo Mitsui Financial Group Inc to secure funding, one of the people said.


Reuters | Equities.com |

Celebrity stockpicker Cathie Woods's ARK funds bought more shares of Coinbase worth $110 million a day after the cryptocurrency exchange's Nasdaq debut, according to the firm's daily trade summary on Thursday.

ARK, which gained prominence last year among retail investors, on Thursday bought a total of 341,186 shares across three funds, valued at $110 million at Thursday's $322.75 close.

That added to 749,205 purchased according to its Wednesday ale...


Reuters | Equities.com |

JPMorgan Chase & Co’s first-quarter results on Wednesday laid bare the challenge big banks face in this phase of the pandemic, where stimulus programs have left individuals and businesses in good financial shape but so flush with cash that few of them need loans.

The biggest U.S. bank sailed past Wall Street expectations by reporting a nearly 400% increase in quarterly profit. The gains came from JPMorgan releasing more than $5 billion it had set aside to cover potential coronavirus loan losses that have not materialized, as well as a continued boom in capital-markets activity.


Reuters | Equities.com |

Goldman Sachs Group Inc surged past Wall Street expectations for first-quarter profit on Wednesday, as the U.S. investment banking giant capitalized on record levels of global dealmaking and a coronavirus-driven boom in equity trading.

An unprecedented boom in private firms merging with listed shell companies to go public helped Goldman earn handsome fees from such deals, resulting in a 73% jump in revenue from investment banking to $3.77 billion.


Reuters | Equities.com |

Shares in media companies ViacomCBS and Discovery Inc tumbled around 27% each on Friday, capping a week of declines and putting both stocks roughly 50% below their recent record highs.

ViacomCBS closed down $18.12 at $48.23, marking a record one-day percentage decline, with trading volume more than five times its 10-day moving average. The stock had hit a record high of $101.97 on March 15 before it started losing ground over several sessions.


Kimberly Redmond | Equities.com |

Online stock trading platform Robinhood Markets has confidentially submitted plans to regulators for a listing on the US stock market.

The company said in a statement Tuesday that it had filed for an initial public offering with the US Securities and Exchange Commission, confirming an earlier report by Bloomberg News.