GameStop (GME), a popular meme stock, gained 1.2 percent in premarket trading after rising 3.5 percent on Monday. Companion AMC Entertainment Holdings (AMC), which gained 7.9 percent on Monday, gained 0.9 percent in premarket trading.
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In the near term, a healthy downturn in cryptocurrency prices is disastrous, but in the medium to long term, it is a godsend. Bitcoin (BTC), the market leader in cryptocurrencies, has declined more than seventy percent since its peak.
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The most talked about equities on Friday morning in the Wallstreetbets subforum of Reddit were mostly up.
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The most talked-about equities on Thursday morning in the Wallstreetbets subforum of Reddit were mostly down.
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This year, there has been a significant sell-off in tech companies, with the Nasdaq Composite index, which is heavily weighted in the sector, falling 30.7 percent thus far. The correction has been influenced by a number of factors, including the Fed's aggressive policy tightening to lower prices, supply chain bottlenecks, a tight labour market, and global upheaval.
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Graff, a high-end jewellery retailer, is suing its insurance provider because it refused to pay a Bitcoin ransom. According to reports, the jeweller paid a $7.5 million Bitcoin ransom to the Russian hacker organisation Conti after the group threatened to release information about the business' significant clientele, including Middle Eastern aristocracy. Graff and the hackers came to an agreement on the ransom money, which was subsequently fully paid. However, noting that their insurance does not cover Bitcoin ransom payments, its insurer, The Travelers Company, declined to repay the jeweller for the payment.
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In response to a request from The Electric Reliability Council of Texas (ERCOT), Texas-based Bitcoin (CRYPTO: BTC) miners shut down on Monday.
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