Shares of PayPal Holdings (NASDAQ: PYPL) were up 6.7% as of 11:50 a.m. ET today after Amazon announced it would offer Venmo as a payment option to U.S. customers in time for Black Friday. PayPal acquired the peer-to-peer payment service through the acquisition of Braintree in 2013. This is good news for PayPal, whichhas seen its share price fall 53% this year over slowing growth. Read More...
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Why GameStop Is Running Ahead of the Market Today
Shares of GameStop (NYSE: GME) are running 7% higher as of 10:44 a.m. ET on Tuesday, on a day when the stock market as a whole is just inching higher. GameStop is, of course, still a heavily shorted stock, with some 20% of its shares outstanding sold short, giving it a short interest ratio of 7.6 (anything over 7 is considered a lot). It was an even heavier short interest that caused GameStop to become one of the market’s hottest meme stocks last year as Reddit investors induced a massive short squeeze.
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