Biggest Stock Movers Today: GME, DJT, and More
GameStop (NYSE:GME)
Shares of GameStop surged over 20% in premarket trading on Tuesday after the company announced that it had appointed former Amazon executive Matt Francis as its new chief operating officer. Francis was previously Vice President of Amazon's Prime Air and Global Delivery Services. He is expected to play a key role in GameStop's turnaround strategy, which includes expanding its e-commerce business and improving its in-store experience.
GameStop has been struggling in recent years as the gaming industry has shifted to digital downloads. The company has been closing stores and laying off employees as it tries to adapt to the changing landscape. The appointment of Francis is a sign that GameStop is serious about making a comeback.
Donald J. Trump Media & Technology Group (NASDAQ:DJT)
Shares of Donald J. Trump Media & Technology Group rose over 10% in premarket trading on Tuesday after the company announced that it had received a $100 million investment from Saudi Arabia's Public Investment Fund (PIF). The PIF is one of the largest sovereign wealth funds in the world.
The investment is a major boost for Trump Media & Technology Group, which is launching a new social media platform called TRUTH Social. TRUTH Social is expected to compete with Twitter and Facebook. The platform has already attracted a number of high-profile users, including former President Donald Trump.
Other Notable Movers
Other notable movers in premarket trading on Tuesday include:
The overall market is expected to open higher on Tuesday. The S&P 500 is up 0.5% in premarket trading, and the Nasdaq Composite is up 1.0%.
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