Morning Business Report: Consumers buy stock in GameStop, viral stocks

Morning Business Report
February 11, 2021

Jeep says it’s pausing its Super Bowl ad starring Bruce Springsteen after it became public that he’d been arrested on drunken-driving charges late last year.

Jeep says its message of community and unity is as relevant as ever. As is the message that drinking and driving can never be condoned.”

The ad came under fire even before news of the arrest as some felt Springsteen, with his past political activism, wasn’t the right spokesperson for unity.

*****

28% of Americans bought GameStop or other viral stocks in January.

A Yahoo Finance-Harris poll found AMC was the most popular Reddit stock during the frenzy.

*****

Stocks finished mixed Wednesday as investors took a breather with major indexes at or near record highs. 

The major stock indexes drifted in and out of positive territory all day.

*****

MGM resorts revenue fell 53 percent as Las Vegas continues to struggle. 

It’s China business also fell as the world shut down casinos during the coronavirus. 

Online betting though was a bright spot. 

*****

McDonald’s has heard the complaints and is bringing back the fan-favorite Hi-C orange drink after a nearly four-year absence.

The orange-colored beverage will begin reappearing in select U.S. restaurants this month and will be available nationwide by June.