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Hey there, Bullets Fans –
Your Morning Bullets Brief Updates are here! And that means trivia is, too.
On this day in 1862, Abraham Lincoln signed what bill that would facilitate the government’s printing of paper money?
Think you know the answer? You can check it in the closing area down below!
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Investors have quite a lot of economic data to digest this morning. The government released several reports, including the country’s weekly jobless claims, the revised gross domestic product for the fourth quarter, as well as durable goods in January.
Futures on the S&P 500 and Nasdaq were set to open on the lower side, with Dow futures remaining steady.
Meanwhile, shares of GameStop climbed again during premarket trading (more on that story, below). Yesterday, shares doubled to $92 apiece.
And the major players in the vaccine world are working on developing shots that would beat the newest variants of the virus. Pfizer is working on a third dose of their drug and even working on a new vaccine that targets the specific strain that was discovered in South Africa.
Moderna, too, is tweaking its vaccine to protect against the mutations.
Other News That Matters To You:
This guy got tired of helping the rich get richer, so this is what he’s doing now
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After reports that GameStop Chief Financial Officer Jim Bell is set to resign, shares of the company soared. Yesterday, they skyrocketed over 100%.
This morning, shares increased over 70% during premarket trading.
According to one analyst, the leadership transition could have been set in motion well before the short-squeeze orchestrated by Reddit retail investors last month.
“We acknowledge that leadership changes often follow activist settlements and Mr. Bell’s exit was mutual, non-immediate, and suggests no disagreements with [the] company/board,” said Stephanie Wissink of Jefferies.
Another note, from Telsey Advisory Group suggests Bell served well in his executive position.
“Since joining GameStop in June 2019, departing CFO Jim Bell played a key role in building the foundation of GameStop’s transformation, including cutting costs, managing inventory, improving the capital structure, and investing in key areas, such as digital. We wish Mr. Bell the best in future endeavors.”
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