How did Reddit affect GameStop?
Social media platforms like Reddit fueled massive surges in stocks like GameStop and AMC that were otherwise slated to lose money this year, but instead increased five-, ten- and sometimes 20-fold in value. Frenzied trading was facilitated by the ease ...
What happened with GameStop stock?
This phenomenon is known as a short squeeze. And it worked spectacularly well. GameStop's stock price enjoyed gains through most of January 2021, but they exploded late in the month and peaked on Jan. 28, reaching a record high of $483. Shares of ...
What is going on with GameStop and Reddit?
The subreddit has played a key role in the shares of struggling video retailer GameStop surging by more than 1,000% at times this week. The Reddit revolt focused on a strategy called short selling, where hedge funds make money by betting that share prices will fall.
What happened to GameStop Reddit?
Zackary Canepari, director of the project along with Drea Cooper, said that what happened was “a one of a kind situation. This only happened because there was a pandemic and stimulus checks and boredom and social media and populism, this perfect app, this perfect company, and all of these kinds of things just coming together.
Which Subreddit did 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.
What stocks are the Reddit group buying?
New Stocks Reddit's WallStreetBets is BuyingMicroVision, Inc. (NASDAQ:MVIS)BlackBerry Limited (NYSE:BB)Upstart Holdings, Inc. (NASDAQ:UPST)HealthEquity, Inc. (NASDAQ:HQY)Chewy, Inc. (NYSE:CHWY)
What Reddit was responsible for GameStop?
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 the short sellers betting against it and banking on the stock falling.
What group made GameStop stock rise?
The GameStop stock surge began for a legitimate reason: The company announced on January 11 it had added three new directors to its board, including Chewy co-founder Ryan Cohen.
What should I invest in Reddit 2022?
3 Reddit Stocks to Buy in April 2022TickerCompanyCurrent PriceGMEGameStop$141.46AMCAMC Entertainment$17.48NVDANvidia$217.83Apr 19, 2022
What should I invest in Reddit 2021?
The Reddit community could send these stocks soaring. Reddit became an unlikely stock trading hub in 2021. ... GameStop Corp. ( ticker: GME) ... Tesla Inc. ( TSLA) ... AMC Entertainment Holdings Inc. ( AMC) ... Tilray Brands Inc. ( TLRY) ... Apple Inc. ( AAPL) ... Advanced Micro Devices Inc. ( AMD) ... Nvidia Corp. ( NVDA)More items...
Who started GME stock Reddit?
The answer is r/wallstreetbets, a group of retail investors on an internet forum called Reddit who raised the stock price by 1,700 per cent.
How did Reddit manipulate GameStop?
Squeezing the short-sellers Melvin assumed GameStop's stock would fall, and bought puts allowing Melvin to sell GameStop's stocks above the market price, netting Melvin a profit. The stock obviously went up, instead, rendering those put options worthless.
How did Reddit increase 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.
Who got rich from GameStop stock?
One veteran who said he made millions on GameStop was Bill Gross, the retired “bond king” and former star manager at California money management giant Pacific Investment Management Co.
Who owns most of GameStop stock?
Top 10 Owners of GameStop CorpStockholderStakeShares ownedThe Vanguard Group, Inc.7.69%5,871,283BlackRock Fund Advisors6.33%4,828,648SSgA Funds Management, Inc.2.21%1,684,263Geode Capital Management LLC1.04%792,1666 more rows
Who made the most GameStop stock?
That's looking smart now. Fidelity FMR is the top holder of GameStop shares. It owns 9.5 million shares, through September, or nearly 14% of shares outstanding.
Reddit Stocks: CoreCivic (CXW)
I’m cheating a bit with CoreCivic as a potential idea for top Reddit stocks in 2022 as its rival, Geo Group (NYSE: GEO) generated significant buzz across various social media channels. For me, the inclusion of GEO stock on Reddit traders’ radar was a curious one.
Workhorse (WKHS)
If any name could be the next GameStop, it could be Workhorse, the electric vehicle (EV) manufacturer that everyone seemingly thought was a shoo-in for the U.S. Postal Service’s contract for next-generation mail carriers.
Reddit Stocks: Corsair Gaming (CRSR)
I’m probably going to get trashed for mentioning Corsair Gaming as a possible big play among Reddit stocks in 2022. Mainly, this is due to how terrible CRSR stock has performed. Over the trailing one-year period heading into the first weekend of the new year, shares plummeted exactly 47%.
Cinemark (CNK)
Apparently, adherents to popular Reddit stocks to buy really love their cineplex operators. Again, we have another contradiction. While the subject features plenty of debate, a YPulse study suggested that what many suspected all along: young people might kill the box office.
Reddit Stocks: Marathon Digital (MARA)
With the year that cryptocurrencies had in 2021, it was perhaps only inevitable that the sector would incur a serious correction. As I sit here writing this, over the trailing week, several major cryptos have printed red ink to the magnitude of 15% or greater.
Lottery.com (LTRY)
As I mentioned before, this list of potentially massive Reddit stocks for 2022 is simply a giant guess. Treat this as merely my attempt to amuse myself. However, I’m noticing some patterns regarding which securities receive outsized attention. Therefore, it may not be out of the realm of possibility that Lottery.com could be a hit this year.
Reddit Stocks: Wallbox (WBX)
Though many ideas undergirding fast-moving Reddit stocks have been predictable, it’s important to remember that no one market community is a monolith. Within the same social media thread, you’ll find ample discourse and debate. This is to say, not every idea has been cynical. Therefore, I’m going to end on a positive note with Wallbox.