4:15pm: AMC continues to soar higher
The Dow closed Wednesday up 25 points at 34,600, slipping from its midday high of 34,707. The Nasdaq added 20 points, 0.1%, to hit 13,756, and the S&P 500 increased 6 points, 0.1%, to 4,208.
AMC Entertainment Holdings Inc (NYSE:AMC), the successor meme stock to GameStop Corp (NYSE:GME), shares more than doubled to $64.87. The movie theater chain raised $230.5 million through a stock sale, according to CNBC.
12:10pm: AMC's June surge continues
The Dow was up 69 points, 0.2%, to 34,644 at midday despite an early morning flicker below the flatline. The Nasdaq improved 30 points, 0.2%, to 13,766, and the S&P 500 ticked up 12 points, 0.3%, to 4,214.
Popular meme stock AMC Entertainment Holdings Inc (NYSE:AMC) was up big again Wednesday. Shares surged roughly 50% to $47.92.
10:45am: Proactive North America headlines:
Binovi Technologies Corp (CVE:VISN) (OTCQB:BNVIF) eyeing US$25.2 billion education technology opportunity for its vision platform
AgraFlora Organics International Inc (CSE:AGRA) (FRA:PU31) (OTCPINK:AGFAF) says first wholesale crop at Delta greenhouse on track for processing and sale at the end of summer
Sigma Lithium Resources' PEA shows Phase 2 expansion at Brazil project could double its value to US$844 million
Recruiter.com Inc (OTCQB:RCRT) CEO Evan Sohn to talk predictive Recruiter Index survey on CNBC's 'The Exchange,' and Yahoo FInance Live
ME2C Environmental (OTCQB:MEEC) inks debt repayment deal with Alterna Capital Partners
Royal Road Minerals Limited (CVE:RYR) (OTCMKTS:RRDMF) (FRA:RLU) picks up drilling permits for its Guintär-Niverengo project in Colombia
CO2 GRO Inc (CVE:GROW) (OTCQB:BLONF) (FRA:4021) says partner to market and support its CO2 Delivery Solutions technology in Mexico's protected agriculture market
GlobeX Data Ltd (OTCQB:SWISF) (CSE:SWIS) (FRA:GDT) to be featured on 'Data Privacy Minute' on WABC's Larry Kudlow radio show as part of 19-month marketing campaign
Clean Seed Capital Group Ltd (CVE:CSX) (OTCMKTS:CLGPF) opens ordering program for SMART Seeder MAX
PlantX Life Inc (CSE:VEGA) (OTCQB:PLXTF) (FRA:WNT1) appoints mountain bike athlete Rémy Métailler as a company ambassador
Amryt Pharma PLC (NASDAQ:AMYT) (LON:AMYT) gets FDA approval for new drug application
BetterLife Pharma Inc (CSE:BETR) (OTCQB:BETRF) (FRA:NPAU) welcomes The Conscious Fund founder Henri Sant-Cassia to its board of directors
Western Magnesium Corporation (CVE:WMG) (OTCMKTS:MLYF) speeds up its production timelines with completion of reactor
Renforth Resources Inc (CSE:RFR) (OTCPINK:RFHRF) (FRA:9RR) begins maiden drill program at Malartic West
Vicinity Motor Corp (CVE:VMC) (OTCQX:BUSXF) (FRA:6LG) announces entry into medium duty truck market with development of fully electric Class 3 vehicle
Planet 13 Holdings Inc (CSE:PLTH) (OTCQB:PLNHF) positioned to build consumption lounge with passage of landmark Bill 341 in Nevada
Bragg Gaming Group (TSE:BRAG) (OTC:BRGGD) turbocharges its US casino game operations with US$30M Wild Streak acquisition
Medallion Resources Ltd (CVE:MDL) (OTCQB:MLLOF) (FRA:MRDN) successfully separates and purifies two high-value rare earth elements from monazite
Great Panther Mining Limited (TSE:GPR) (NYSEAMERICAN:GPL) (FRA:G3U) promotes Sandra Daycock to CFO and Fernando Cornejo to COO
Tetra Bio-Pharma Inc (TSE:TBP) (OTCQB:TBPMF) (FRA:JAM1) says Health Canada has accepted its NDS for REDUVO for chemotherapy-induced nausea and vomiting
Viscount Mining Corp (CVE:VML) (OTCQB:VLMGF) (FRA:7VM) encouraged by drill progress at its Kate silver deposit in Colorado
Marvel Discovery Corp (CVE:MARV) (OTCPINK:IMTFF) (FRA:O4T) reveals grab samples of up to 24.3 g/t gold at its Blackfly Gold Project
Nomad Royalty Company Ltd (TSE:NSR) (OTCQX:NSRXF) (FRA:IRLB) completes Caserones mine royalty acquisition; announces share consolidation
Fury Gold Mines Ltd (TSE:FURY) (NYSEAMERICAN:FURY) (FRA:AUN) identifies 'numerous high quality' exploration targets at Eau Claire project, Quebec
Byrna Technologies Inc (NASDAQ:BYRN) (CSE:BYRN) files for potential C$50M public offering to build up working capital
Delta 9 Cannabis Inc (TSE:DN) (OTCQX:DLTNF) partner receives five new retail cannabis store licences
Cloud DX Inc (CVE:CDX) extends contract with Canadian health authority
Ready Set Gold Corp (CSE:RDY) (OTCPINK:RDYFF) (FRA:0MZ) appoints financial executive Darren Collins to its board and audit committee
O3 Mining Inc (CVE:OIII) (OTCQX:OIIIF) issues first ESG report amid changing industry practices
MegumaGold (CSE:NSAU) (OTCMKTS:NSAUF) (FRA:2CM2) names Fred Tejada new interim CEO as Regan Isenor resigns
Ximen Mining Corp (CVE:XIM) (OTCQB:XXMMF) hires consultants Masse Environmental and Ecoscape Environmental to advance Kenville gold mine project
9.41am: Wall Street starts mixed
The main indices on Wall Street started Wednesday’s session on a mixed note as a lack of major news left traders searching for direction.
Shortly after the opening bell, the Dow Jones Industrial Average was down 0.06% at 34,553, while the S&P 500 climbed 0.05% to 4,204 and the Nasdaq rose 0.16% to 13,758.
While the performance of the wider market was mixed in early deals, a collection of memestocks favoured by retail traders on the Reddit forum r/wallstreetbets were surging at the open as investors looged to log another session of strong gains.
Cinema chain AMC Entertainment Holdings Inc (NYSE:AMC) was up 19.4% at US$38.58 in early trading while headphone maker Koss Corp jumped 8.7% to US$26.25 and BlackBerry Ltd climbed 13.8% to US$13.14.
7:50am: Wall Street set for mostly flat start
After a fairly uneventful close on Wall Street on Tuesday, things do not look to have changed much, with the opening calls looking far from dramatic.
The Dow Jones Industrial Average is forecast to edge up 22 points or 0.1%, while the S&P 500 and Nasdaq Composite are also expected to be virtually unchanged.
Investors are caught between welcoming the signs of economic recovery shown as the vaccination programmes progress, and worrying about the possible implications of that recovery for inflation and a rise in interest rates.
The latest Federal Reserve Beige Book, due later today, will give some clues as to how businesses and the central bank feel about the current economic situation. Otherwise, there is little in the way of data to swing the market one way or the other.
Four things to watch for on Wednesday:
- Companies in the earnings diary include data monitoring software group Splunk Inc (NASDAQ:SPLK), cloud data specialist NetApp Inc (NASDAQ:NTAP) and car parts retailer Advance Auto Parts Inc (NYSE:AAP)
- Shares in handmade and vintage products retail platform Etsy Inc (NASDAQ:ETSY) will also be in focus after the company announced a deal to buy fashion marketplace Depop for US$1.6bn
- AGMs from a number of major corporates including Google parent Alphabet Inc (NASDAQ:GOOG), Walmart Inc (NYSE:WMT) and Comcast Corp (NASDAQ:CMCSA) may also throw up some insights
- On the macro front, there is little happening however investors may be interested in US mortgage data as well as speeches from several Fed representatives