GameStop returns, Nvidia climbs, oil slides

Allan Tong Posted On June 3, 2024

It was a busy Monday to open trading in June. GameStop returned after a Reddit post announced a mysterious $175 million investment by a single trader. Shares soared 21% in action not seen since the bad, old days of meme trading Covid. The news overshadowed Nvidia‘s announcement of next-generation AI chips, which sent its shares jumping 4.9% to $1,150. Elsewhere, chip rival AMD closed the day -2.01%, Paramount Global rallied 7.47% and Apple traded the most hands by adding 0.93%. The U.S. 10-year-yield slipped to 4.396 as Bitcoin bounced 2.5% to US$69,500. The S&P gained 0.11%, the Nasdaq 0.56% and the Dow slipped 0.3%.

The price of WTI slid $3 to $74 a barrel, which sent energy and the TSX down. The Canadian index shed 0.66%, with energy leading most sectors down. Only four rose, led by staples. GFL was a notable gainer, popping 10.42%, and First Capital REIT added 3.48%. However, Suncor closed the day -4.75%, Baytex -6.59% and Cenovus -6.05%. Gold added US$21 to US$2,348 an ounce.

🎮 GameStop Corp. (GME-N) +21%

💾 NVIDIA Corporation (NVDA-Q) +4.9%

💾 Advanced Micro Devices (AMD-Q) -2.01%

🎞 Paramount Global (PARA-Q) +7.47%

🍎 Apple Inc (AAPL-Q) +0.93%

🅱 Bitcoin (BTCUSD) (CRYPTO:BTC) +2.5%

♻ GFL Environmental Inc. (GFL-T) +10.42%

🏛 First Capital Realty (FCR-T) +3.48%

🛢 Suncor Energy Inc (SU-T) -4.75%

🛢 Baytex Energy Corp (BTE-T) -6.59%

🛢 Cenovus Energy (CVE-T) -6.05%