Shares of GameStop have seen a notable increase, rising over 4% and marking its fourth consecutive day of gains, which adds up to more than 77% since the beginning of 2024. This resurgence highlights the retailer’s recovery amid a fluctuating market environment.
In the cryptocurrency sector, stocks related to Bitcoin have experienced declines as the value of cryptocurrencies fell. Notable companies such as MicroStrategy and Coinbase saw their shares drop by approximately 3% and 2%, respectively. Additionally, Riot Platforms, known for its Bitcoin mining operations, reported a decrease of over 2%.
In the automotive industry, Honda’s U.S.-listed stock climbed over 4%, contributing to a weekly gain of around 14%. This increase follows the announcement of merger discussions with Nissan, indicating potential growth and collaboration in the sector. This positive momentum is also supported by rising stock markets in the Asia-Pacific region, influenced by reports of a significant budget proposal from the Japanese government.
On a different note, Starbucks shares fell by 0.4% as its workforce extended strike actions affecting over 300 stores across 45 states. This movement highlights ongoing labor issues within the company.
In aviation, American Airlines shares dropped by 0.6%. The airline faced operational challenges due to a computer system glitch that led to a temporary grounding of flights. Despite this setback, the airline recovered slightly, ending the day up 0.6%.