Q4 GDP Growth Revised Higher to 4.1%

The GameStop saga returned to the market yesterday and today. At 2:30 pm yesterday, GameStop was going for just under $50 per share. At 4 pm, the stock closed at $91.71. This morning, Game Stop got as high at $170 per share.

The rally was apparently sparked by an ice cream cone tweet from Ryan Cohen. This tweet somehow had a cryptic message. Anyway, I have a feeling this story isn’t over.

We had some good economic news this morning. Q1 GDP was revised slightly higher to growth of 4.1%. (That’s annualized and after inflation.)

The National Bureau of Economic Research is the official dater of recessions. They say when a recession began and ended. Last June, NBER said the economic recession peaked in February. They haven’t called a trough date yet, but I think they will sometime soon.

I don’t know if this is exactly a V-shaped recovery, but it is a recovery.

Note that the shaded area signals a recession and it’s based on NBER’s timing.

This morning’s jobs report came in at 730,000. That beat expectations of 845,000. This also came close to a post-pandemic low, which is currently 711,000.

Posted by on February 25th, 2021 at 12:15 pm


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