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GameStop CEO to exit as video game retailer pivots to digital
Chewy founder Ryan Cohen, a major investor in GameStop, is pushing the old-school game store to reinvent itself.
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Chewy founder Ryan Cohen, a major investor in GameStop, is pushing the old-school game store to reinvent itself.
Video game seller's shares are up nearly 900% this year even as the company continues to lose money.
Many Americans are planning to their new $1,400 stimulus checks in the stock market. Companies like Amazon, GameStop, and AMC Entertainment may start seeing a boost over the next few weeks, but some finance experts are concerned. CBS MoneyWatch senior reporter Stephen Gandel joins CBSN's Elaine Quijano to break it all down.
The "meme stock" is surging again, reprising last month's dizzying rally in the videogame seller's shares.
In sometimes pointed questioning, lawmakers pressed brokerage chief on whether his company puts its customers at risk.
CBS News' Nancy Chen reports on the GameStop hearing in which Reddit trader Keith Gill, aka "Roaring Kitty," appeared before Congress, along with the CEOs of Reddit, Robinhood and hedge fund Melvin Capital Management.
Online brokerage executive is expected to face questioning about why he restricted trading in high-flying stocks.
Video game seller has lost $32 billion in market value since Reddit group WallStreetBets sent its share into orbit.
Stock-trading app lets customers "buy on margin" to amp up potential returns. Some investors are paying the price.
Video game retailer has lost more than $30 billion in market value after a stock frenzy driven by Reddit board.
Some Reddit users took advice from the "WallStreetBets" forum and made big money on GameStop stock. Now a 20-year-old college student who cashed in is using some of that newfound wealth for good, buying gifts for a children's hospital.
Reddit personality and YouTuber is still up on his investment, but much less than a week ago when he shot to fame.
Investing app Robinhood recently found itself embroiled in controversy this past week when it moved to restrict trading of shares of several companies like GameStop and AMC. The move resulted in intense backlash from users. New York Times finance and technology reporter Nathaniel Popper joins CBSN's Elaine Quijano to discuss.
Moderators of Reddit's WallStreetBets forum say they're seeing a large amount of stock-recommendation content being posted by bots. MoneyWatch senior reporter Stephen Gandel joins CBSN AM to break down the latest information on the forum, which caused a stir as members bought Gamestop stock, driving the price up.
GameStop isn't the only struggling company whose stock has surged after retail investors flooded in.
GameStop's stock price soared to $325 a share on Friday, capping off a tumultuous week on Wall Street. Despite the video game retailer's success, the overall market sank and ended the week in the red. CEO and founder of Tusk Ventures, Bradley Tusk, joined CBSN to discuss the impact the battle between amateur traders and hedge fund investors will have on the future of the stock market.
Brokerage has angered investors who claim they were unfairly blocked from trading GameStop and other hot stocks.
Stocks sank Friday as a result of the Game Stop frenzy. CBS News correspondent Vladimir Duthiers explains why, and Katie Stockton, founder and managing partner of Fairfield Strategies, joins CBSN to discuss.
Gamestop's stocks are surging once again after the stock-trading app Robinhood reversed its decision and allowed limited trading to resume. It's the latest twist in the ongoing battle between small-scale amateur traders and hedge fund investors. Andrew Smith, chief investment strategist at Delos Capital Advisors, joins CBSN to discuss the impact.
This week's GameStop frenzy on Wall Street drew Stewart to chime in on Twitter.
After a "tough day," the trading app Robinhood said it would allow "limited buys" of stocks backed by Reddit traders.
Popular trading app Robinhood is now allowing retail investors to buy shares of GameStop stocks, but only in limited quantities. CBS MoneyWatch senior reporter Stephen Gandel joins CBSN to discuss the showdown between Wall Street and home traders.
Popular trading app Robinhood is allowing limited trading Friday morning of GameStop stock. This comes one day after it banned the company's stock from its platform, citing extraordinary market conditions. Vladimir Duthiers reports.
"Fully agree," Senator Ted Cruz tweeted in response to Congresswoman Alexandria Ocasio-Cortez, who scolded Robinhood.
Reddit board Wallstreetbets seems to have driven a near-2,000% rise in the stock price of troubled video game retailer.
The Biden administration announced in April a new rule that expands Title IX's protections to LGBTQ students.
The Medal of Honor is the nation's highest military award for bravery in combat, and the Presidential Medal of Freedom is the highest civilian honor.
In North Carolina, Harris took note of falling inflation but added, "Still, we know that many Americans don't yet feel that progress in their daily lives."
"I'm going to give him a taste of his own conduct," said the former mayor of San Francisco.
U.S. assessments are that Iran will not seek to disrupt ongoing cease-fire negotiations in Doha aimed at ending the Hamas-Israel war.
The landscape is changing radically for Americans buying and selling property, as well as for real estate agents.
Judge Kenneth King is ordered to attend training "to address the underlying issues that contributed to this incident," according to 36th District Court Chief Judge William McConico.
"There's no doubt that control of the House runs through New York and runs specifically through the Hudson Valley," said New York Democratic Rep. Pat Ryan.
Former President Donald Trump also disclosed more than $100 million in liabilities for recent legal cases.
"I'm going to give him a taste of his own conduct," said the former mayor of San Francisco.
It marked the first-ever well-preserved mastodon skull excavated in Iowa, state officials said.
When a barefoot woman boarded Jayne Arendt-Verhelst's bus in Minneapolis, she immediately took the shoes off her own feet and gave them to the passenger.
The Biden administration announced in April a new rule that expands Title IX's protections to LGBTQ students.
A U.S. district judge said in her ruling that FuboTV was likely to be successful in proving that the joint venture would violate antitrust laws.
A U.S. district judge said in her ruling that FuboTV was likely to be successful in proving that the joint venture would violate antitrust laws.
Former President Donald Trump also disclosed more than $100 million in liabilities for recent legal cases.
The landscape is changing radically for Americans buying and selling property, as well as for real estate agents.
Should I freeze my credit? Here's what experts say, and how to stop bad actors from accessing your file.
Parents and other caregivers urged to stop using loungers linked to 5 fatalities and an infant bed tied to 1 death.
"I'm going to give him a taste of his own conduct," said the former mayor of San Francisco.
The Biden administration announced in April a new rule that expands Title IX's protections to LGBTQ students.
The Medal of Honor is the nation's highest military award for bravery in combat, and the Presidential Medal of Freedom is the highest civilian honor.
Former President Donald Trump also disclosed more than $100 million in liabilities for recent legal cases.
"There's no doubt that control of the House runs through New York and runs specifically through the Hudson Valley," said New York Democratic Rep. Pat Ryan.
Alternatives to the often dreaded pap smear may be on the way for cervical cancer screenings. Here's what to know.
Massachusetts Gov. Maura Healey has announced a plan to save five Steward hospitals from closure.
Philadelphia singer Jessy Kyle created a new bra inspired by her medical journey, which included a heart attack and kidney transplant.
Parents and other caregivers urged to stop using loungers linked to 5 fatalities and an infant bed tied to 1 death.
ABC News Australia's Nate Byrne is being praised both for how he handled the on-air panic attack as well as the visibility he's bringing to mental health.
A 19-year-old giant panda named Ying Ying has given birth to twins, becoming the oldest known first-time panda mom.
The Butler County native has been in Russian prison since 2021.
The HMS Hawke was torpedoed by a German U-boat on October 15, 1913. Just 70 sailors survived.
Chinese-based tour operators said North Korea will soon allow visitors to the mountainous northern city of Samjiyon.
The woman was found dead "because of being constricted and bitten by the snake," a police spokesman said.
Jools Lebron is taking TikTok by storm with her "demure" videos, transforming a simple word into a powerful statement on confidence and mindfulness. We looked into the trend.
Jools Lebron's viral TikTok videos have given new meaning to the word "demure." We break down what it means.
Academy Award-nominated actor Elliot Page and actress Hillary Baack star in the heartfelt film "Close to You," exploring themes of love, identity and the challenges of returning home.
Taylor Swift kicked off the latest leg of her record-breaking Eras Tour on Thursday, her first performance since canceling three shows in Vienna due to an alleged terror plot from ISIS. While Swift did not address the plot or cancellations, heightened security measures were in place.
Following a nine-month investigation into the death of "Friends" star Matthew Perry, five people, including two doctors, one of his assistants and an alleged drug dealer, have been criminally charged.
Should I freeze my credit? Here's what experts say, and how to stop bad actors from accessing your file.
Artificial intelligence and misinformation remain a threat this election year. So how can you spot what's real and what's not? Darren Linvill, co-director of the Media Forensics Hub at Clemson University, joins CBS News with tips.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Iran has launched a sweeping, months-long cyberattack targeting both the Democratic and Republican presidential campaigns, according to a new report by Google. Nicole Sganga has details.
Staring at an iPad screen too much may keep little kids from learning to control their emotions, a new study finds.
There are hundreds of data centers across the U.S., most of which are run by big tech firms, and their seemingly endless rows of servers are consuming huge amounts of electricity. Ben Tracy takes a look at how one of those companies, Google, is turning to renewable energy sources to power them.
Hurricane Ernesto is gaining strength in the Caribbean after drenching Puerto Rico and the U.S. Virgin Islands. Now the storm is moving north into the Atlantic, where it's expected to continue strengthening as it heads toward Bermuda. CBS News national correspondent Manuel Bojorquez and WCBS chief weathercaster Lonnie Quinn have more.
On July 24, a burning car was pushed over an embankment in Chico, California. Within three days, it became one of the 10 largest wildfires in state history. Within nine days, it was among the top four. Still burning at over 429,000 acres, firefighters continue to tackle the historic blaze. Using data from Cal Fire, CBS News put together an animation to show just how quickly and far the flames have spread.
There are plenty of considerations for those interested in making the investment, according to industry experts.
Joro spiders have hearts that are able to withstand the loud and bustling noises of big cities, according to a study published on Monday.
Susan Lorincz, a White woman accused of killing her neighbor Ajike "A.J." Owens, a Black woman, during a dispute in Ocala, Florida, has been found guilty of manslaughter.
Susan Lorincz, 60, faces up to 30 years in prison at sentencing for the shooting death of her neighbor, Ajike "A.J." Owens.
Lisa Jeanine Findley, 53, faces federal charges of mail fraud and aggravated identity theft.
The manhunt for a convicted murderer who escaped from custody is over. Police found Ramone Alston early Friday morning at a hotel outside of Charlotte, North Carolina, more than a hundred miles from the Hillsborough hospital parking lot he ran from on Tuesday.
The escaped killer of a 1-year-old girl who fled from a medical transport van, Ramone Alston, was captured days later in a hotel in the Charlotte, N.C. suburb of Kannapolis, authorities said.
CBS News spoke with the astrophotographer behind the viral photo about his mission to drive people to look at the night sky before it changes "within the period of our lifetime."
Seventy-one days after launch, NASA finally nears a decision on whether Boeing's Starliner will return to Earth with, or without, a crew.
NASA held a press briefing Wednesday and announced a decision will be coming on how the Boeing Starlink capsule crew stuck at the International Space Station will proceed with their mission in space. CBS News' Lindsey Reiser has more.
The historic, privately financed space flight will carry humans above Earth's ice caps for the first time.
The Perseid meteor shower peaked in the night skies of Sunday into Monday, giving astronomy fans one of the best shows of 2024 as they looked to the skies.
Live performances are in full swing this summer. Scroll through our concert gallery, featuring pictures by CBS News photojournalist Jake Barlow and photographers Ed Spinelli and Kirstine Walton.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
A look at the evidence in "The Dexter Killer" case; plus, newly revealed letters from the man police say wanted to be like fictional serial killer Dexter Morgan.
A teenager's murder in Lowell, Massachusetts, goes unsolved for more than 40 years -- were the clues there all along?
The actor, recipient of a lifetime achievement Academy Award, was renowned for such films as "MASH," "Klute," "Don't Look Now," "Ordinary People," and "The Hunger Games."
On the day of his death, "Friends" star Matthew Perry was injected with three shots of ketamine by his personal assistant, Kenneth Iwamasa, according to a plea agreement Iwamasa reached with federal prosecutors. Perry had been introduced to the drug in a clinical setting to help treat depression, but investigators said he later turned to illegal sources. Adam Yamaguchi reports from Los Angeles.
When a barefoot woman boarded Jayne Arendt-Verhelst's bus in Minneapolis, she immediately took the shoes off her own feet and gave them to the passenger. Steve Hartman has the story in "On the Road."
New rules that will impact real estate agents, homebuyers and sellers will take effect this weekend as part of a groundbreaking antitrust settlement earlier this year. Under the new rules, it will now be standard practice to negotiate commissions with agents. Jo Ling Kent examines the changes.
A Florida jury returned a guilty verdict Friday in the trial of a White woman who fatally shot her Black neighbor last year. Prosecutors said the defendant, Susan Lorincz, had yelled at the victim's children while they were playing outside. When Ajike "A.J." Owens went over to confront Lorincz, she was killed. Mark Strassmann has details on the verdict.
The Democratic National Convention kicks off Monday in the Windy City, and security is tight as Chicago prepares for thousands of pro-Palestinian protesters. Ed O'Keefe has the latest.