Tag Archives: GameStop

It’s ironic that a trading platform whose motto is “Investing for Everyone” would find itself at the center of a retail investor revolt against the Wall Street glitterati. What happened this past week with GameStop (GME), Reddit and Robinhood is a classic tale of David and Goliath, but even the pros say this time is different. “We’ve seen short squeezes in the past, but I call this one the grand awakening,” Kevin Simpson, portfolio manager at Capital Investment Management, told… Source link

What happened this week with GameStop (GME), Reddit and Robinhood was shocking, unprecedented and unforeseen. Lost in the flurry though is that the craziness is very much a part of some elephant-in-the-room trends in this country. I’ll explain what I mean in a moment, but first let me give you the bare bones of the story which includes everyone from Elon Musk to Congresswoman Alexandria Ocasio-Cortez, as well as hedge fund titans and the New York Mets. Here’s the precis: Over the past… Source link

When the exponential 500% run up of GameStop’s stock this week reversed on Thursday to come crashing down after trading platforms like Robinhood blocked customers from buying shares, there was no shortage of outrage and theories as to what was behind the trading platform’s decision. One theory in particular, alleging the decision may have stemmed from outside pressure coming from hedge funds shorting GameStop’s stock, quickly gained attention from a surprising group, including Sen. Ted… Source link

The battle between amateur investors and the financial establishment has transfixed Wall Street and Washington this week around GameStop (GME), which has seen its stock price swing wildly and had trading of its stock restricted by online brokerage Robinhood. Other than Robinhood itself, perhaps the one thing less popular in Washington this week has been short sellers and the hedge funds that usually employ them, which had, until recently, been making money by betting against the struggling… Source link

The Canadian Press The Latest: New Mexico reports 752 new cases, 17 deaths SANTA FE, N.M. — New Mexico reported 752 additional known COVID-19 cases and 17 deaths on Saturday, increasing the state’s pandemic totals to 173,539 cases and 3,265 deaths. The number of infections is thought to be far higher than reported because many people have not been tested, and studies suggest people can be infected with the virus without feeling sick. The counties with the most additional cases were… Source link

Friday, January 29, 2021 Get the Morning Brief sent directly to your inbox every Monday to Friday by 6:30 a.m. ET. Subscribe Robinhood becomes the GameStop story’s main character. The tale of GameStop’s (GME) meteoric rise, its chaotic decline, and what happens next with the role of retail traders in the market, are narratives that have dominated the conversation this week. And in the weeks ahead, it is unlikely this story will disappear from the market conversation. But the whole episode has… Source link

GameStop mania is sweeping Capitol Hill, as legislators of both parties criticize … somebody … for … something …. about … short squeezing? Vigilante retail investors have driven shares of the troubled retailer GameStop (GME) to remarkable heights, for no apparent reason except exploding demand for the stock. Shares were up by more than 1,700% for the month as of Jan. 26, before falling back to a mere 1,100% gain a day later. This surge in demand has obliterated… Source link

Traders who gobbled up GameStop (GME) stock in the Reddit-user-fueled push to squeeze short sellers could end up on the defending side of enforcement action if officials can find out who they are and show they tried to manipulate or deceive the markets. Indeed, Fox Business Network’s Charlie Gasparino tweeted on Thursday that regulatory sources were telling him they would be looking at a market manipulation case related to GameStop trading. However, a successful case against those who caused… Source link

TipRanks These 2 Penny Stocks Could Rally All the Way to $11, Say Analysts At its January FOMC meeting, the Federal Reserve held interest rates steady – they are near rock-bottom now, and to no one’s surprise, the Fed is keeping them there. Fed Chairman Jerome Powell may have fed some market pessimism when he spoke after the meeting, and pointed out that unemployment, which has been rising in recent months. For market watchers seeking support, there is solace in the Fed’s monetary… Source link

The Canadian Press Brokerages limit trading in GameStop, sparking outcry Robinhood and other retail brokerages are taking steps to tamp down the speculative frenzy surrounding companies such as GameStop, but the actions only sparked more volatility in the market and an outcry from users of the platforms and some members of Congress who say small investors are being treated unfairly. GameStop stock has rocketed from below $20 earlier this month to close around $350 Wednesday as a volunteer army… Source link