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The "meme trade" has been one of the market's defining trades this year. And while some investors have chosen to ignore the action we've seen in shares of GameStop (GME) or AMC (AMC) amid a value rotation, rising bond yields, and a booming economy, these retail-driven trading frenzies are starting to reshape the fundamentals of these businesses. They're more than just a sideshow.
GRAPEVINE, Texas, June 22, 2021 (GLOBE NEWSWIRE) -- GameStop Corp. (NYSE: GME) (“GameStop” or the “Company”) today announced that it has completed its previously announced “at-the-market” equity offering program (the “ATM Offering”).
The latest rally in meme stocks has given AMC Entertainment and GameStop the biggest and third-largest market capitalizations among companies in the Russell 2000 index of small companies. The Russell indexes' annual reconstitution is coming up next week, so investors have been wondering it the pair might graduate into the large-cap Russell 1000 .
Were traders on the WallStreetBets subreddit right about GameStop (NYSE:GME) after all?
EXCLUSIVE-Confirmed:Deutsche Boerse to de-list Coinbase from Xetra and Frankfurt trade
Deutsche Boerse said on Wednesday it would de-list the shares of cryptocurrency exchange Coinbase Global from its Xetra trading system and the Frankfurt stock exchange by end of Friday's trading session.
"The reason for the de-listing is a missing reference data for these shares," Deutsche Boerse said, adding the de-listing would apply until further notice.
When Coinbase trading started at Deutsche Boerse's platforms, a wrong reference code - a so-called LEI code - was used by mistake, Deutsche Boerse said. It was not clear whose mistake it was.
Such an individual reference code is needed for identification and a regulatory requirement for admission to trading. "The only way for Coinbase to resume trading is for the issuer to apply for an LEI," Deutsche Boerse said.
Coinbase did not immediately respond to an emailed request for comment outside U.S. business hours.
The U.S. cryptocurrency exchange made its Nasdaq debut last week, its direct listing marking a major milestone in the development of bitcoin and other digital assets.
The listing of the San Francisco-based firm is by far the biggest yet of a cryptocurrency company, with its market capitalisation briefly topping $100 billion on its first day of trading. As of Tuesday, its market cap stood at $63.9 billion.