The biggest stock market story so far this year is without a doubt the GameStop saga, which saw a struggling US video game retailer’s share price rocket by almost 1,600 per cent. A battle ensued between short-selling hedge fund managers and a community of traders on Reddit, which drove GameStop shares up from $20 in … Read more
The CEO of Robinhood has revealed that the NSCC demanded a $3 billion security at 3am in the morning during dramatic negotiations before the company stopped GameStop trades. Speaking during a virtual event hosted by Tesla CEO Elon Musk, Vladimir Tenev offered an explanation behind his company’s decision to Thursday to restrict the purchase of GameStop shares … Read more
Ten-year-old investor makes more than $3,000 on 10 GameStop shares his mother bought him for $60 as a Kwanzaa gift in 2019 Jaydyn Carr’s mother, Nina, purchased 10 shares of GameStop stock in 2019 for about $60 She gave them to her son as a Kwanzaa present to teach him about investing That lesson in … Read more
The staggering rally of shares in beleaguered video game retailer GameStop is minting new millionaires, and costing hedge funds billions of dollars – at least on paper. GameStop shares rose another 70 percent on Friday in a staggering rally driven by small investors on the online forum Reddit that has seen the stock surge 1,800 … Read more
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Game on again? Gamestop shares jump to brink of $400 in pre-market trading as Trading 212 app lifts its block on the controversial stock The stock moved back up to as high as $393 (£286) in pre-market trading Reddit-fueled meteoric rise was reversed yesterday after Robinhood blocked it UK investors can buy it again through Trading 212 … Read more
The CEO of trading platform Robinhood has defended his firm’s highly controversial decision to halt trading of certain stocks on Thursday, insisting it was for the good of customers and the company. Vlad Tenev, a 33-year-old Bulgarian-American businessman, co-founded Robinhood in 2013. On Thursday night he explained why his platform had infuriated users by preventing … Read more
Watchdog warns on market abuse and high-risk trading as GameStop fever hits Britain: FCA sounds the alarm on the Reddit vs hedge funds fight GameStop saga continued yesterday, as trading app RobinHood stopped buys Traders piling into shorted stocks have also picked up on beaten-up UK shares FCA said personal investors should take care in … Read more
The Reddit poster and YouTube streamer who caused a Wall Street crisis by driving up the price of GameStop – and boasted about his $47 million gains – is a suburban financial adviser who nicknames himself Mr. Wizard, DailyMail.com can reveal. Keith Gill, 34, is the man behind the Roaring Kitty YouTube streams and the … Read more
The Reddit subgroup fueling the unprecedented surge of GameStop shares is now planning to drive up American Airlines’ stock in a campaign that is rattling Wall Street. The airline’s stock surged by nearly ten per cent after it was mentioned on Reddit’s WallStreetBets forum. ‘AAL the next GME?’, asked one Reddit user in an online … Read more