Source: Zhitong Finance "Since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%)." With the rebound of the stock market, the old adage "Sell in May and Go Away" seems to have been a bad advice once again. Last month, the S&P 500 index rose 4.8%, the best May performance since 2009. The NASDAQ 100 index rose nearly 6.2%, and the NASDAQ Composite Index rose 6.9%. Goldman Sachs FICC & Equities Trading Division said: "History doesn't really support this saying. Don't sell, leave the market (go on vacation), and enjoy the good times." The rising trend is still to be continued? If history is any guide, it may indicate that the rise of the stock market is not over yet. Looking ahead to the rest of 2024, Scott Rubner, Managing Director of the Goldman Sachs Global Markets Division and tactical expert, pointed out the following historical background for investors. Rubner stated that the S&P 500 index has risen 10.7% year-to-date, and since 1950, the S&P 500 index has risen more than 10% 21 times as of the end of May. In about 90% of these cases, the S&P 500 index rose for the rest of the year. There were only two instances of declines for the rest of the year, in 1987 (-13%) and 1986 (-0.1%). "Since 1950, the median return of the last 7 months of each year (June 1 to December 31) is 5.4%. In the aforementioned 21 cases, the average performance of the last 7 months increased to 8.1%." Rubner added. Rubner also pointed out that the NASDAQ index has risen for 16 consecutive Julys, with an average return of about 4.64%.

$GameStop (GME.US)$CEO Ryan Cohen said that the video game retailer plans to cut costs and reduce its physical store network.

In a highly anticipated speech at the company's annual meeting, Cohen said the company will continue to reduce costs and focus on profitability. He said, "Revenue without profit and future cash flow prospects is worthless to shareholders. This means we will reduce our physical store network and expand the range of high-value commodities suitable for the trade-in model."

Cohen praised the company's balance sheet and strengthened its capital strength through a series of stock sales since the January 2021 Meme stock boom. Recently, the company sold 45 million shares in May and 75 million shares in June, raising a total of $3 billion.

Cohen said, "Having a strong balance sheet is especially important in uncertain economic times. Although the future is always uncertain, monetary and fiscal policies in the US and globally in the past decade have been historically exceptional. Exiting the ultralow interest rate environment could have unforeseen consequences on the economy, just as inflation reached its highest level in 40 years in 2022."

Cohen's speech was brief. Since taking over Gamestop, the co-founder of Chewy (CHWY.US) has been known for not providing too much information to analysts or investors. The company has not provided annual financial outlooks for many years.

Gamestop has risen 43% since the beginning of this year.

In May, investor Keith Gill became a hero of Reddit netizens for his bullish bet on Gamestop before the January 2021 Meme stock frenzy, reigniting interest in these companies through his posts on the Roaring Kitty account. According to his posts on Reddit, as of June 13, he held more than 9 million shares, up from 5 million at the beginning of the month. His previously held call options could allow him to buy stock at $20.

Editor / jayden