Posted 3/27/2024, 8:00:00 PM
Stocks Rebound to Record Highs as Meme Stocks Rally and Disney Settles Florida Tax Dispute
- U.S. stocks rebounded strongly on Wednesday after several down days, with the S&P 500 hitting a fresh record high and the Dow surging over 475 points
- Meme stocks like Reddit and Trump Media saw huge gains, though Reddit fell 11% on Tuesday amid rising short interest
- Robinhood launched its first credit card offering amid a strategic pivot to build out more financial services
- Paramount Global had its debt downgraded to junk status by S&P, citing pressures on its business from cord-cutting
- Disney and Florida reached a settlement to end litigation over the company’s special tax district, opening "a new chapter of constructive engagement"