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May 13, 2024 · An army of traders on the Reddit forum r/WallStreetBets helped drive a meteoric rise in GameStop’s stock price in recent days, forcing halts in trading and causing a major headache for...
- Talk of Overnight Riches
- What's Wallstreetbets?
- Why Have Shares of Gamestop Soared?
- What's A "Short-Squeeze"?
- Are Shares of Gamestop Being Manipulated?
- Are "Meme Stocks" The New Stock Market Bubble?
Adding to the interest: fantastic claims of overnight riches. One prominent Wallstreetbets member said he turned a $50,000 investment in GameStop into $22 million, mostly in the past few weeks, and that his GameStop fortune had soared to a mind-boggling $48 million as of Wednesday night. Kevin Roose, a New York Times reporter, tweeted on Monday abo...
Wallstreetbets is a fast-growing Reddit board with nearly 5 million followers, including at least 2 million new ones in the past 24 hours. Like at other internet discussion boards, users typically go by an online handle rather than their real names. Much of the discussion is about stocks —and it comes with plenty of attitude and tough talk. The Wal...
Wallstreetbets may be one reason but it's not the only one. GameStop got its first mentions as a recommended investment on WallStreetbets back in mid-2019, long before the stock began rising. That suggests what is fueling the stock's stratospheric rise now isn't just the latest discussion board chatter. The recent run in GameStop's stock appears to...
Another reason GameStop's shares are rising: Wall Street mechanics. Enter the short-squeeze explanation. When short-sellers bet a stock will decline, what they effectively do is sell shares they don't have, with the promise of delivering those shares to the buyer at a later date. That's where the term short-sale comes from. The problem is that if t...
The coordinated buying effort has caused some to call GameStop's stock surge a case of market manipulation. But there isn't a lot of evidence of that. On Tuesday, Michael Burry, who became famous for predicting the 2008 housing bust (and was a central figure in Michael Lewis' book "The Big Short"), tweeted that while he's a believer in GameStop, ev...
GameStop's stratospheric stock ascent arguably has entered the bubblesphere based on traditional Wall Street metrics. Sales are down by 30% at the company, which is in the process of closing 1,000 of its more than 5,000 stores. And that sales drop has happened during the pandemic, with people spending more on home entertainment, not less. Other Wal...
- CBS News
- 15 min
Jan 27, 2021 · While the Redditors of r/WallStreetBets are buying options, GameStop shorts are getting squeezed, and some big Wall Street firms are making profits. Here’s what happens when retail...
May 13, 2021 · The news primarily revolved around GameStop, the struggling video game retailer, and how WallStreetBets pumped its stock price to unprecedented heights, nearly bankrupting institutional...
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Jan 27, 2021 · Here’s how a bunch of small-time retail investors on Reddit’s WallStreetBets were able to send GameStop’s shares soaring – wrecking major hedge funds, and pulling down the rest of the ...
Jan 28, 2021 · By Mitchell Clark. Subreddit r/WallStreetBets has been the talk of the Internet this week, as its members have driven GameStop’s stock prices from around $20 to over $300. The community...
Jan 27, 2021 · Day traders, organizing under the subreddit r/WallStreetBets, are holding onto the shares of GameStop that they own — despite skyrocketing values that have made some of them millions of...
