GameStop dismisses its CEO and names Ryan Cohen executive chairman; the stock falls.
On Wednesday, GameStop Corp. announced the resignation of Matthew Furlong as CEO and the election of activist investor Ryan Cohen to the position of executive chairman, effective immediately. A quick news announcement describing the action was followed by a 19% after-hours decline in shares of the meme stock and gaming store. This press announcement, which […]
Due to the gloomy investment outlook, the South African rand declines.
The South African rand fell in early trade on Wednesday, As a result of investors’ warnings that, despite modest growth in the first quarter, the prognosis for Africa’s largest industrialized economy remained dismal. “The short-term strength stems from severely oversold conditions, which have been supported by some softening in the US dollar and a slight […]