GameStop and Trump Media sink, Nvidia's stock split, and gold gets harder to find: Markets news roundup

Trump Media & Technology Group, the company behind former President Donald Trump’s social media site Truth Social, filed a re-audited version of its finances Monday — and the results weighed on the shares.

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GameStop stock looked like it was trending upwards in pre-market trading on Monday, before quickly sinking into the red once again after the market opened.

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Nvidia stock began trading for the first time following a 10-for-1 share split on Monday morning. The AI chipmaker’s shares were largely flat after markets opened, at $120 per share, after dropping about 1% in pre-market trading. The stock closed at $1,208.88 per share on Friday, meaning the starting post-split price on Monday would be $120.88.

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GameStop stock has been on a days-long plunge that could soon mean losses for Roaring Kitty’s portfolio.

The video game retailer closed out Monday with its stock down 12%, at $24.83 per share. That’s inching closer to the $20 strike price on the call options owned by GameStop booster and retail investor Keith Gill, better known by his social media persona “Roaring Kitty.” 

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There’s less gold out there to be mined. John Reade, chief market strategist for the World Gold Council, a group representing the interests of mining companies and other participants in the sector, told CNBC that mine production is stalling out despite some gains earlier this year.

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Refinancing a mortgage — replacing an existing mortgage with a new one — allows homeowners to take advantage of lower rates or adjust the length of their loan term, among other potential benefits.

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Walmart has Wall Street’s attention – and it’s pushing the retailer’s stock to an all-time high.

Shares of Walmart increased slightly to $67 a share after the big box retailer received an upgraded rating from analysts and price target hikes.

On Monday, JPMorgan upgraded Walmart’s rating from Neutral to Overweight, and also lifted the firm’s price target from $66 to $81 a share.

The adjustment was largely due to Walmart’s “strong balance of defense and offense” against a softer consumer backdrop and a highly uncertain second half of 2024, the bank added.

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Tom Hulick of Strategy Asset Managers breaks down why he thinks the United States is in the early stages of a new bull market, lead by innovation in tech and AI

Tom Hulick of Strategy Asset Managers breaks down why the energy sector and chip makers could be big ‘downstream’ winners of Apple’s AI