The Rundown Uber Acquisition Hits Roadblock, GameStop Tries for 5-Day Win Streak
Dec 26, 2024
The market buzzes with news of the Santa Claus rally pushing stock indices to new heights. Uber faces a significant roadblock in its acquisition plans in Taiwan, while a labor strike at Starbucks comes to an end. Retailers brace for a staggering $890 billion in holiday merchandise returns, raising concerns over their bottom lines. Meanwhile, GameStop attempts to capitalize on a five-day win streak amid market fluctuations influenced by Bitcoin's movement. It's a rollercoaster of financial news!
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Santa Claus Rally and Low Volumes
- The stock market, including S&P 500 and NASDAQ, rallied, starting the Santa Claus rally strong.
- Low trading volumes are expected to continue for the rest of the week, possibly until the new year.
Bitcoin's Price Drop
- Bitcoin rallied earlier in the week but dropped to $95,000.
- The reason for this drop is unclear.
Uber's Acquisition Roadblock
- Uber's acquisition of Foodpanda in Taiwan is blocked due to antitrust concerns.
- Regulators believe the deal, giving Uber 90% market share, would eliminate competition.