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For-profit prisons fall out of favor
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Biden cracks down on the private prison industry by executive order. Plus, a push to reopen the Obamacare enrollment window during the pandemic. Also, a quick explainer on what's happening with GameStop's stock. And, we'll learn today if Apple was able to keep up its strong pandemic performance.
Segments From this episode
Biden issues executive order telling Department of Justice not to renew contracts with privately run prisons
Marketplace's Nancy Marshall-Genzer has more.
Biden administration wants to make it easier to enroll for Obamacare
Marketplace's Nova Safo reports.
What's going on with GameStop's stock, and what does it mean for the rest of the market?
The price of GameStop shares was up a little over 100% Wednesday at open compared to close the day before. The jump has to do with short sellers previously betting on the stock falling, and now other investors, including day traders, buying more and more of it to pump the price up. This has actually led to some volatility in other stocks "And now, some investors are looking at this example and saying, 'I can look at other businesses where the market expects the business to decline over time, and where investors have made the bet that that decline will happen,' and they're thinking that they can profit from that in the same way that they can profit from the GameStop stock now reversing and going up," said Susan Schmidt, head of U.S. equities at Aviva Investors. That can make for a "very confusing market," Schmidt said.
The company's fourth quarter earnings hit a new high at a time when personal devices took on added importance.