An army of amateur traders loosely organizing on Reddit have shaken up all preconceived notions about the stock market as they fueled the meteoric rise of GameStop stock. Shares for GameStop, the electronics retailer that has largely struggled in recent years, have skyrocketed by nearly 2,000% since the beginning of the year.
What is the purpose of/R/stockmarket?
Jan 29, 2021 · If it trades to $30, you buy the stock for $15 each and sell at the market price. In recent years, options have exploded in popularity on …
Are You trading too big in the stock market?
Feb 02, 2021 · The stock market said Yes. Events of late just seem like the natural endgame of a world where the government has at least inadvertently separated fundamentals from prices to keep the game going.
What is the purpose of the stock market blog?
Jan 27, 2021 · A bunch of individual investors on a Reddit forum, Wall Street Bets, thought they could work together and drive up the stock price. That would force the hedge funds to buy back their shares as their losses increased. So they used the hedge funds against themselves. 2/ — Don't tear down my statue (@kamster999) January 27, 2021
What do you like to post about the stock market?
What did Reddit do to the GameStop stock?
In late January, a band of Reddit-obsessed retail traders coordinated trades on heavily shorted stocks, created a massive short squeeze in GameStop, whose shares surged 400% at one point. The brick-and-mortar retailer traded at less than $20 a share at the start of 2021.Apr 26, 2021
How did Reddit raise the stock market?
Reddit Inc. said it raised $250 million from private investors, riding a wave of attention after users of the social media website drove a stock market frenzy. Terms of the funding, led by Vy Capital, push the company's valuation to $6 billion, a spokeswoman said.Feb 8, 2021
Did Reddit almost crash the market?
Day-Trading Reddit Users Nearly Crashed the Stock Market. Now They're the Organizing Principle for a New ETF. Barron's.Mar 3, 2021
What Subreddit caused the stock market?
r/wallstreetbetsr/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading.
How did Reddit know GameStop was shorted?
As Reddit and retail traders started to take notice of GameStop, they also took notice of how heavily shorted the stock was — information that's generally pretty easy to get. And they figured out a way that, if they acted all together, they could sort of screw the shorts over and make a profit doing it.Jan 29, 2021
Why do Reddit users buy GameStop?
But the main reason behind the interest in the company is because it was the most heavily shorted stock on Wall Street. About 71.66 million GameStop shares have been shorted, worth about $4.66 billion. This is where the very popular 'wallstreetbets' came into the picture.Jan 30, 2021
Did WallStreetBets crash the market?
Wall Street Bets, the Reddit forum that coordinated the massive surge in GameStop's stock, is defiant even as the price crashes. Wall Street Bets members drove up GameStop's stock price in January, disrupting major hedge funds. The share price reached a high of $483 on Thursday, but since then it has crashed.Feb 3, 2021
When did Reddit crash the stock market?
The page r/WallStreetBets, which had encouraged investors to bid on GameStop shares and led to billions of dollars of losses for the stock's short-sellers, could not load for some users the morning of January 27. DownDetector had more than 3,000 reports of problems accessing the site between 9:30 a.m. and 10 a.m. EST.Jan 27, 2021
Did GameStop almost crash the market?
Shares of GameStop plunged 32% Wednesday after lukewarm earnings that met analysts' expectations, wiping out more than $4.5 billion from the firm's market capitalization, which ended Wednesday at $8.1 billion.Mar 24, 2021
What happened GameStop Reddit?
GameStop stock climbed by 104% until trading was halted for a second time - moments before markets closed. The rapid rise came as Reddit, the online home of activist investors that led the GameStop movement in January, went down temporarily. The stock gained nearly 90% in after-hours trading.Feb 24, 2021
What is the Subreddit GameStop?
The subreddit r/wallstreetbets drove up the price of GameStop shares and caused massive losses for hedge funds. The subreddit was created in 2012 and grew an "irreverent and sarcastic" subculture. The GameStop trading put the subreddit on the world's radar. Visit Business Insider's homepage for more stories.Jan 30, 2021
What caused GameStop short squeeze?
People on the message board site Reddit took note of this, with users on r/WallStreetBets concluding the share price of Gamestop was lower than what was a reasonable value for the stock. They reasoned that this low price was due to shorting by hedge funds and planned what's known as a “short squeeze.”Mar 15, 2021
How long did Druckenmiller work with Soros?
Druckenmiller caught the eye of George Soros during his storied career and collaborated with Soros’ Quantum Fund for 12 years. An average annual return of 30% for 30 years illustrates the true power of compound interest.
Who is Stanley Druckenmiller?
Stanley Druckenmiller, the hedge fund legend famous for betting against the British pound and collecting a $1 billion paycheck, hasn’t had a down year in over 4 decades. Druckenmiller caught the eye of George Soros during his storied career and collaborated with Soros’ Quantum Fund for 12 years.
Will OPEC+ boost oil production?
OPEC + sources said that producer groups would stick to existing plans on boosting oil output slightly from May 1 , suggesting they do not see a lasting impact on demand from India's coronavirus crisis. The group has ditched plans to hold a full meeting on Wednesday.
What is Cameron Bublick's first thing?
Cameron Bublick, 20, a student at New Jersey's Rutgers University, told ABC News that every day after he wakes up, the "first thing I do is go on Robin Hood and check out the app. ". Bublick noted that Robin Hood gets rid of the traditional barriers to entry for people wanting to dabble in the stock market, saying it is "available, basically, ...
Is Bublick a reader?
Bublick is also an active reader of the r/wallstreetbets subreddit, saying that while a lot of it is satire or jokes, "I do think that subreddit has a lot of good advice on there once you can kind of sift out what people are just saying in general to kind of take out what's actually worthwhile.".
