Money

Melvin Capital, a premier Wall Street hedge fund entangled in the frenzy over GameStop, lost 53% in January, a source familiar with the matter told CNN Business. Melvin, a major short-seller of GameStop, bet that the company’s shares would drop. But, on January 11, GameStop announced new board members who could help it with digital

Senator Elizabeth Warren doesn’t know who’s right and who’s wrong in the GameStop saga, and that’s driving her nuts. “We actually don’t know who all the players are in all this — whether there’s big money on both sides,” Warren told Dana Bash on “State of the Union” Sunday. “That’s why we need an SEC

Congresswoman Marjorie Taylor Greene, a Trump-backed QAnon supporter, is a fountain of misinformation, conspiracy theories and hateful rhetoric, and most mainstream media outlets are covering the controversy. But Fox News is still wrapped up in attacking Congresswoman Liz Cheney. Cheney, a Wyoming congresswoman and the No. 3 House Republican, has been the target of both

Leaders of five historically Black colleges and universities met with Google CEO Sundar Pichai on Friday to discuss the company’s relationship with the schools in the wake of anti-HBCU-graduate discrimination allegations made by a former Google employee. On December 21, ex-Google diversity recruiter April Curley tweeted that she had been fired by the company in

Tesla posted its first full year of net income in 2020 — but not because of sales to its customers. Eleven states require automakers sell a certain percentage of zero-emissions vehicles by 2025. If they can’t, the automakers have to buy regulatory credits from another automaker that meets those requirements — such as Tesla, which

Say what you will about the GameStop mania. It does illustrate one positive thing about today’s stock market: There are still some people willing to invest in individual companies instead of merely tossing their money into index funds. The rise of Reddit’s WallStreetBets crowd and others taking advantage of no-fee trading on brokerages like Robinhood

Samsung, the world’s biggest phone maker, is also one of the largest consumer electronics and appliance makers in the world, selling everything from televisions to refrigerators. So we were wondering: How much would it cost the ultimate Samsung fan if they could spend all they wanted on each of Samsung’s highest-end devices? In December —

If you felt like a new fried chicken sandwich debuted every day in January, you’re not far off. Some chains tried their best to slim down, while others did the exact opposite. The flurry of chicken sandwich additions are notable because several chains have eliminated a number of items over the past year to shed

“Saturday Night Live” returned for its first show of 2021, and had one question on its mind: “What still works?” That’s how the NBC variety show opened its program on Saturday night, with cast member Kate McKinnon hosting a show that asked what still works in America. The first category was “government.” McKinnon brought out

Toys “R” Us is closing its only two stores roughly a year after a highly anticipated relaunch of the storied brand. Tru Kids Inc., which bought the retailer in a 2018 liquidation sale, confirmed that its two locations in New Jersey and Texas that opened in late 2019 have permanently closed because of the pandemic.

Jaydyn Carr was a GameStop shareholder long before the buying frenzy that sent share prices skyrocketing, and now the 10-year-old investor has cashed in, making almost $3,200. His mother, Nina Carr, told CNN that she bought Jaydyn 10 shares of the company’s stock in 2019 as a Kwanzaa present, because she wanted to teach him

There was a lot to unpack in the deluge of news this week about GameStop, the stock market, Reddit groups, trading apps and hedge funds. If it all seemed like too much, we can’t blame you for tuning out. While we don’t know just how the so-called Reddit rebellion will change the future of investing,

Omar couldn’t believe what was happening. He should have been concentrating on the student he was tutoring in physics — a job he did during his free time while enrolled in a post-baccalaureate pre-med program — but Omar’s eyes kept darting back to the Robinhood app open on his phone. Omar had invested $6,000 in

It has been a turbulent week on Wall Street. GameStop has been at the center of it, again soaring on Friday and ending the day up nearly 68%, after trading platforms including Robinhood lifted restrictions on trading the stock. The stock ended the week up 400%. But elsewhere on Wall Street, the picture was bleak.

It has been a turbulent week on Wall Street. GameStop has been at the center of it, again soaring on Friday and ending the day up nearly 68%, after trading platforms including Robinhood lifted restrictions on trading the stock. The stock ended the week up 400%. But elsewhere on Wall Street, the picture was bleak.

The cops on the Wall Street beat weren’t prepared for an army of day traders coordinating on social media to run up the price of stocks like GameStop, BlackBerry and American Airlines. Now, brokers are imposing restrictions on the fly, drawing huge backlash from traders who are crying foul and spreading unsubstantiated theories about nefarious