Consolidation activity amped up among department-store chains this week, with the parent-company of Saks Fifth Avenue officially cutting a $2.65 billion deal Thursday for Neiman Marcus. Amazon.com took a minority stake in the new entity. Meanwhile, two investment groups have increased their bid to take Macy's private. Read More...
Meme stock speculation propels Koss shares 25% higher on Friday
Shares of headphone maker Koss Corp. soared for the second session in a row on Friday, closing at $13.35 a share, after trading as high as $18.50 early in the day, as social media posts speculated that a post by meme stock influencer Keith Gill indicated his interest in the company. Some followers of Gill, known to his online followers as ‘Roaring Kitty’, on social media pointed to cryptic images he posted in May of a microphone posted against the backdrop of the U.S. flag. That led to speculation on Reddit, such as Otherwise-Category42’s post on the sub-Reddit devoted to GameStop that has been tracking Gill’s return, that ‘Roaring Kitty’ would become a buyer of Koss shares on or around July 4, the U.S. Independence Day holiday.
Reuters•
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