Gamestop recovers slightly: Amazon shares suffer from Bezos exit

Gamestop recovers easily
Amazon shares suffer from Bezos exit

Jeff Bezos' withdrawal from Amazon is not doing well with US investors. Despite a positive quarterly balance sheet, the shipping giant on Wall Street has to accept losses. The situation is different with Google parent Alphabet.

Strong business figures from the Google mother alphabet have brightened the mood of US investors. The Dow Jones-Index of the default values ​​closed 0.1 percent higher to 30,723 points. The broad one S&P 500 also rose by 0.1 percent and ended up with 3830 meters. The technology-heavy one Nasdaq on the other hand, it went out of trading with little change at 13,610 points.

Amazon 3,312.53

Amazon-Paper gave way despite a positive quarterly balance, as with Alphabet, because the surprising withdrawal of company founder Jeff Bezos from the top of the group, according to traders, diminished hopes for continued outstanding figures. Amazon and Alphabet had significantly exceeded market expectations with their quarterly results, said Neil Wilson, chief analyst of the online broker Markets.com. Amazon shares closed nearly two percent in the red. The papers of alphabet on the other hand climbed 7.3 percent to around 2058 dollars per share.

It went even steeper uphill for GW Pharma. The papers of the specialist in cannabis-based drugs rose nearly 45 percent after competitor jazz Bid $ 220 per share, or a total of $ 7.2 billion for GW. The papers of GW rival Zynerba gained more than 27 percent. Cannabis producers such as Aurora, Cronos and Tilray posted gains of between eight and twelve percent. The listed fund (ETF) for the industry gained almost ten percent. Jazz titles, on the other hand, lost 3.8 percent.

GameStop Corporation
GameStop Corporation 78.00

Investors were now waiting for details on the planned US state aid to cushion the coronavirus pandemic, experts said. Meanwhile, US Treasury Secretary Janet Yellen advocated full implementation of the $ 1.9 trillion aid package proposed by President Joe Biden.

Investors are relieved that Yellen wants to consult with stock exchange supervisors on how the latest price capers at the video game dealer Gamestop and other values ​​can be prevented, said investment strategist Jim Reid from Deutsche Bank. In the past few weeks, retail investors with concerted purchases had forced hedge funds to dissolve bets on the decline of the Gamestop price and brought them to the brink of ruin.

Game stopShares rose 2.7 percent on Wednesday after closing Tuesday with a record drop of 60 percent. The trading platform Robinhood, which had played a central role in the rally over the past few weeks, had previously announced that customers will be able to trade fractions of Gamestop shares in the future. This makes it easier for small investors to invest because the stakes are lower.

The cryptocurrencies rose Ethereum by up to 8.4 percent to a record high of $ 1,639.98. Investors were warming for the upcoming debut of futures contracts on the second most important cyber currency after Bitcoin on the US derivatives exchange CME, said analyst Timo Emden of Emden Research. This step makes the cryptocurrency more attractive for institutional investors.

. (tagsToTranslate) Wall Street (t) Amazon (t) stock trading