Shares of GameStop and AMC each soared by more than 100% in early trading Tuesday as the surprise return of the retail day trader known as “Roaring Kitty” sparked a flurry of meme stock activity for the second straight day. GameStop spiked as much as 113% in early trading and closed up 60%. That pushed the beleaguered video game retailer’s stock price up to nearly $50 per share – a once-unthinkable number given the company’s recent financial performance. AMC’s stock was up as much as 129% and...

Tesla’s long-delayed Cybertruck is expected to finally hit the market this fall, but Elon Musk faces a tough road convincing Wall Street that the futuristic pickup is more than just a gimmick. Musk posted a series of Cybertruck glamor shots on his X account over the past week, revealing that he took a production model for a test drive at Tesla’s Texas factory — all of which fueled speculation that a formal announcement is near. But key details about the Cybertruck — including its price and...

Reality TV star-turned-mogul Kim Kardashian has tapped former Apple retail boss Angela Ahrendts for a key role at her private equity firm SKKY Partners. Ahrendts, 63, will serve as senior operating adviser at SKKY, which is focused on making investments across consumer products, e-commerce, media and entertainment, the Kardashian announced Monday. The “Keeping Up with the Kardashians” star co-founded the firm with ex-Carlyle executive Jay Sammons last fall. “As we continue to expand SKKY...

The three US banks that collapsed this year — First Republic, Silicon Valley Bank and Signature Bank of New York — had more combined assets under management than all 25 federally insured lenders that failed in 2008 at the onset of the Great Recession. The US banking sector was dealt another blow when the FDIC stepped in to seize control of First Republic — marking the second-largest bank failure in US history by assets — and to sell it to JPMorgan Chase. As of the end of last year, First...

French billionaire Bernard Arnault widened his lead as the world’s richest person even as furious protesters stormed the Paris headquarters of his luxury goods firm LVMH in escalating blowback over a controversial overhaul of France’s pension system. The estimated wealth of Arnault, the 74-year-old CEO and chairman of LVMH, swelled by nearly $12 billion to a whopping $210 billion through Thursday – the same day that a mob of union activists were caught on video climbing an escalator in an...