A Reddit post on March 11 noted that more than one million GameStop shares were borrowed from exchange-traded funds (ETFs) in the pre-market. The move was seen as a new confrontation in the ongoing battle between hedge funds trying to short GameStop and investors who wanted to prove the company is fundamentally undervalued.
How did Reddit affect GameStop?
Mega hedge funds bet against GameStop and plan to drive the stock into the ground and profit (this is insanely risky unless you cheat and manipulate the market) Redditors saw the insane position the hedge funds where taking and realize there was tons of money to be made if they bought the stock and proceeded to do so
What really happened with GameStop?
Reddit poggers moment save uwu company for chad cucks with out kantanas buying it’s stock inflating it but #redditstories had bought other stocks to drowned out gamestops💀💀 forcing to lower the stock prices for gweeedy stock men but we saved the day with our quick thinking!
What exactly happened with GameStop?
Gamestop is sort of in financial peril, like you said. This caused people to "short" a lot of Gamestop stock. This is a stock market trick where you borrow somebody's stock (at a high price), sell it immediately, wait for the price to go down, buy it again (at a low price), then give the stock back to the original person.
What is going on with GameStop and Reddit?
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 …
What exactly happened to GameStop stock?
Amid the first COVID-19 lockdown in March 2020, GameStop stock dropped to a value of $2 to $4 per share, the lowest in the company's history. Much of this was due to GameStop stores being closed. The low value of GameStop's stock gave birth to an idea to manipulate the stock market.Feb 21, 2021
Did GameStop crash the stock market?
Key Facts. 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 with GameStop stock and Robinhood?
Popular investing app Robinhood became the focus of the controversy after it decided to freeze trades for GameStop on Jan. 28. Shares of the video game retailer spiked after traders on Reddit began frantically buying the company's stock. GameStop shares have since came crashing down only to shoot up once again.Mar 17, 2021
Why did GameStop shares go down?
GameStop stock was falling fast on Wednesday after the company's fiscal fourth-quarter results disappointed analysts. There's also another elephant in the room: The company is considering selling more stock, which could dilute its shares. GameStop stock (ticker: GME) closed down 33.8%, at $120.34.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 happened to GameStop stock in January 2021?
Stocks of video game retailer GameStop exploded in January 2021, effectively doubling in value on a daily basis. At the close of trading on January 27, GameStop Corporation's stock price reaching 347.51 U.S. dollars per share - or +134 percent compared to the day before.Jan 31, 2022
Who stopped GameStop trading?
Robinhood, which relies on a subsidiary of the DTCC called the National Securities Clearing Corporation (NSCC) to clear its trades, stopped all buying in shares of GameStop (ticker: GME), AMC Entertainment (AMC) and other stocks on Jan. 28.Feb 24, 2021
Why you should not use Robinhood?
Key Points. Robinhood makes a lot of its money by nudging customers toward risky trades and volatile investments. It's been fined by the SEC for claiming to charge no fees, while still taking a cut of each transaction behind the scenes.Sep 4, 2021
What is GameStop scandal?
In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers.
Did GameStop sell 5 million shares?
GameStop Corp. climbed Tuesday after completing an at-the-market offering program by selling 5 million shares for a total of $1.13 billion via Jefferies. Shares of the video-game retailer rose 10% to $220.40 after the announcement.Jun 22, 2021
Does GameStop short squeeze?
GameStop's share price also went through a large drop in pricing. A short squeeze, one year after GME gained traction on WallStreetBets, is unlikely to happen. A growing focus on GameStop actual business performance indicates more downside potential.Feb 12, 2022
Christian Libertarians, how do you view God's authoritarianism?
I'm doing some searching on religion and (assuming the Christian God is real) how do you view his authoritarian character?
What is the Libertarian take on intellectual property laws?
I think intellectual property is property, but I'm not sure what role the government should take in it, such as with patents or copyright law. I would tend to think that the government should be hands-off with IP laws, but should a government enforce private property rights?
Mandatory DNA testing at birth and legality of circumcision?
I didn't know this until today, but I found out that almost every baby born in the US is required to get their DNA tested for disease detection purposes. And I saw someone on another subreddit say mandatory paternal testing for all new babies should become a law. That got me thinking about circumcision.
How to get rich or lol trying
Say you’re a hedge fund that has determined, through expert analysis, that the future of video-game retail is even bleaker than its present.
Is this time different?
Manias have been around for as long as financial markets have. And retail investors have been hyping stocks in chat rooms — then making their collective presence felt in markets — since the dot-com boom.
Is this the French Revolution of finance?
Former White House press secretary Anthony Scaramucci thinks so. And there is certainly a populist verve to Redditors getting rich at the expense of large investors, while making a mockery of the notion that private financial markets rationally allocate capital.
