US Stocks rise to record highs as investors look ahead to Joe Biden’s inauguration. GME stock jumps 57% as Trump gets impeached for the second time.
GME Stock Price Increases after Trump’s impeachment
The recent political chaos in the United States of America seems to have left the stock market untouched. Instead, shareholders are jubilant as they look forward to Joe Biden’s inauguration ceremony on 20th January.
Share prices of GameStop (GME) jumped by 57% on Wednesday after the word of getting Ryan Cohen (co-founder of Chewy) on the board along with two former colleagues spread. The expectation of making the company customer-focused again has excited the investors. Also, Intel’s stock price soared 7% after its announcement of Pat Gelsinger returning as a CEO, replacing Bob Swan. Besides, Dow Jones Industrial Average dipped 0.03% and finished at 31,060.
Donald Trump’s Impeachment
The US House of Representatives on Wednesday voted for Donald Trump’s impeachment. Speaker of the United States House of Representatives, Nancy Pelosi signed the article of impeachment against him. While 232 representatives (including 10 Republicans) voted for his impeachment, 197 favoured him. This makes him the first President impeached for the second time in the political history of the USA. The House of Representatives has charged him for inciting violence at the US Capitol during President-elect Joe Biden’s certification ceremony. The trial is likely to begin after he leaves office, that is, after 20th January. Further, the Senate, upper house of the House of Representatives, will determine his guilt. His conviction is needs two-third majority.
Donald Trump released a video saying that he condemns the US Capitol violence, and there is no place for vandalism in this country.
In all, Wall Street’s main indexes opened high on 14th January after Trump’s impeachment. Investors expect a high stimulus post Biden’s inauguration for the recovery of the economy.