2025 Stock Market Highlights: GameStop Soars, Intel's $11B Ireland Deal, Uber Faces Legal Challenges
Discover the latest stock market movements on May 13, 2025, with GameStop and AMC rallying, Intel advancing a $11 billion factory plan, and Uber & Lyft confronting legal trials. Stay informed with ZAMONA's expert analysis.
Bill McColl brings over 25 years of expertise as a senior producer and writer across TV, radio, and digital platforms, leading teams to deliver impactful news coverage on major global events.
Market Overview
- U.S. stock markets showed mixed performance midday on Monday, May 13, 2024, reacting to a New York Federal Reserve report highlighting heightened consumer inflation expectations.
- Shares of GameStop and AMC surged notably after meme stock influencer Keith Gill, known as “Roaring Kitty,” returned to social media after nearly three years, sparking renewed investor interest.
- Uber and Lyft shares declined amid the start of a Massachusetts trial accusing them of misclassifying drivers as contractors instead of employees.
The Dow Jones and S&P 500 remained stable, while the Nasdaq experienced modest gains, as the market digested inflation data suggesting consumers expect higher prices in both the short and long term. Further inflation reports are expected this week.
GameStop (GME) shares skyrocketed following Keith Gill’s social media comeback, fueling speculation of a possible resurgence in retail investor enthusiasm for meme stocks. AMC Entertainment (AMC) also saw substantial gains.
Intel (INTC) advanced after reports surfaced that it is in advanced negotiations with Apollo Global Management. The private equity firm is set to support Intel with over $11 billion for its ambitious semiconductor factory project in Ireland.
Squarespace (SQSP) shares jumped significantly as private equity firm Permira announced its intention to acquire the website building and hosting provider for $6.9 billion, planning to take the company private.
Shares of Uber Technologies (UBER) and Lyft (LYFT) declined as a Massachusetts court trial commenced, focusing on allegations that both companies falsely represented their drivers as contractors rather than employees.
Alphabet (GOOGL), Google's parent company, experienced a share dip, while Apple (AAPL) shares rose amid reports of a forthcoming partnership with OpenAI to integrate ChatGPT chatbot features into iPhones. This follows earlier talks between Apple and Google on AI collaborations. OpenAI is also reportedly developing an AI-driven search engine to rival Google's.
In commodities, oil futures increased whereas gold prices dipped. The 10-year U.S. Treasury yield decreased. The U.S. dollar strengthened against the yen but weakened versus the euro and British pound. Most leading cryptocurrencies traded positively.
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