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DALLAS (CBSDFW.COM) – Sranan Krishna spent years watching stock in Grapevine-based GameStop plummet. He bought his shares in 2014 for about $8,000. “A long rollercoaster, but it went up!” he said.RELATED: Texas Death Row Inmate Jorge Villanueva, Who Had Liver Cancer, Dies After COVID-19 Diagnosis In the midst of sudden surge, he sold it all two days ago for $19,000 and nearly hit a much larger jackpot. “I had it for like six years. One more day and I would have made like $40,000 more,” he said. Southern Methodist University (SMU) finance professor Don Shelly has been watching closely. “I’ve never seen like this in my lifetime and I’ve seen a lot of market cycles,” said Shelly. Social media, he said, was key in allowing momentum to build so quickly. Independent investors communicating on Reddit started purchasing GameStop shares, driving up the price. AMC Theaters, American Airlines, and Bed Bath & Beyond became hot commodities, … [Read more...] about What The Surge In GameStop Stock Could Mean For You

New York (CNN Business)2020 is a lost year for the movies. Hollywood, like many industries, has been devastated by the coronavirus pandemic. Movie theaters were forced to shut down for months, and have struggled to find an audience since reopening. Productions have stalled, and blockbuster releases have been rescheduled. The year started with a surprising amount of promise, however. Sony's "Bad Boys For Life" and Paramount's "Sonic the Hedgehog" kicked off 2020 with unexpectedly strong box office returns. The schedule for the rest of the year included potential blockbusters like a new James Bond movie, a live action remake of "Mulan" and the return of the Ghostbusters. But all of those films were either delayed, pushed to next year or skipped US theaters entirely because of the pandemic. This has left cineplexes with a bleak and uncertain future. (Track how box-office sales have been hit on our recovery dashboard.) With new films seemingly being shifted around every day, it's been … [Read more...] about The biggest movies that have been delayed, and when you can expect to see them now

U.S. stocks notched more gains and pushed to new highs Monday, extending a winning streak that just gave the market its best weekly gain since November. The S&P 500 rose to its sixth straight gain. The three major indexes climbed to an all-time high, as did a benchmark of smaller company stocks. Technology and financial stocks helped lead the broad rally. Energy sector companies surged the most following a 2% jump in the price of U.S. crude oil. Treasury yields mostly rose. Investors have been encouraged by surprisingly good corporate earnings reports, news that a recent surge in new coronavirus cases is easing, and progress in the distribution of vaccines. "The resilience of the corporate sector has been resounding," said Ross Mayfield, investment strategy analyst at Baird. "The path of least resistance is still higher." The S&P 500 rose 28.76 points, or 0.7%, to 3,915.59. The Dow Jones Industrial Average gained 237.52 points, or 0.8%, to 31,385.76. The Nasdaq composite … [Read more...] about Stocks Notch More Gains, Record Highs, on Wall Street

New York (CNN Business)GameStop, the struggling video game retailer at the center of a Wall Street frenzy last month, is losing stream. The stock was down nearly 20% to $48.79 a share on Thursday, a sign that the party was winding down for retail investors who drove GameStop (GME) to record highs last month. Last week, the stock tumbled more than 80%. Shares soared around mid-January after the Reddit community WallStreetBets rallied around GameStop, saying it was undervalued and triggering a buying spree. The Reddit-fueled rise accelerated as short-sellers — investors who bet the stock would fall — were forced to buy up shares to cover their positions. The so-called short squeeze wreaked havoc on Wall Street hedge funds were major short-sellers of the stock, including Melvin Capital, which lost 53% in January. Melvin secured a more-than-$2-billion bailout from Ken Griffin's Citadel and Steve Cohen's Point72 to help shore up its finances. Stock-trading app Robinhood … [Read more...] about GameStop tumbles nearly 20% as Reddit-fueled party winds down

Following Joe Biden’s executive decision to kill the Keystone XL Pipeline, Hollywood celebrities including Leonardo DiCaprio, Jane Fonda, Scarlett Johansson, Mark Ruffalo, and Cher are now pressuring the president to shut down another energy project — the Dakota Access Pipeline.Former president Donald Trump championed both projects as job creators and important components to achieving energy independence. A letter to the White House signed by a slew of celebrities and environmental activists said that the closure of  the Dakota Access Pipeline is necessary in order “to address the climate crisis and strengthen relationships with Indigenous communities.” Other stars who signed the letter include Amy Schumer, Joaquin Phoenix, Alyssa Milano, Chelsea Handler, Don Cheadle, Jason Momoa, Robert Downey, Jr., Ed Helms, Kerry Washington, Cyndi Lauper, and Sarah Silverman. Joaquin Phoenix attends the “Joker” Premiere at cinema UGC Normandie son September … [Read more...] about Hollywood Celebrities, Including Robert Downey Jr., Scarlett Johansson, Leonardo DiCaprio, Demand Biden Shut Down Dakota Access Pipeline