Gamestop Shares and Reddit Fueled Stocks Plummet, Crypto Fans Say Bitcoin Is ...
Following the Wallstreetbets saga last week, a great number of the popular shares being fueled by social media have started to tank in value. Gamestop shares dropped over 60% on Tuesday, while AMC dropped more than 49% shaking investors who bought into these stocks to the core. Meanwhile, a number of cryptocurrency advocates believe the only true way to stick it to the bankers and Wall Street is to leverage digital assets like bitcoin. Reddit’s Favorite Stocks Begin to Feel Pain Last week, news.Bitcoin.com published numerous reports on the fiasco that started on the Reddit forum....
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As the U.S. SEC looks into how Robinhood has handled GameStop trading, the platform has narrowed its list of restricted stocks. Troubled trading app Robinhood has been narrowing the list of restricted stocks on its platform but is still keeping major restrictions on GameStop shares. According to its website, Robinhood has lowered its list of restrictions to eight different stocks including GameStop, AMC, BlackBerry, Express, Genius Brands International, Koss, Naked Brand Group and Nokia. Robinhood previously limited trading for as many as 50 stocks on Friday, CNBC reported.As per the new....
The bigwigs trading stocks on Wall Street have been upset this week as billion-dollar hedge funds have been crippled by Redditors and memes. Not too long ago, the firm Gamestop’s shares were plummeting, and Wall Street veterans lined up a mountain of short bets against the company’s stock. However, members of the Reddit forum called “Wall Street Bets” discovered the short positions, and subsequently turned things around by purchasing the stock and placing long positions on Gamestop’s shares. On Tuesday, Gamestop’s stock (GME) spiked well over 148%, as....
After skyrocketing above $370 following the Reddit-driven short squeeze, GameStop shares are now trading at around $160. GameStop Corporation, an American gaming and consumer electronics retailer, has announced its plans to sell up to 3.5 million GME shares following the stock’s massive and controversial rally.The firm announced Monday that it has filed a prospectus supplement with the United States Securities and Exchange Commission, under which it may offer and sell up to 3.5 million shares of GME stock via an at-the-market, or ATM, equity offering program. GameStop said that its total....
The U.S. House Committee on Financial Services hearing will investigate issues around the recent trading surge for shares of GameStop and other companies.
Reddit’s Wall Street Bets is beating hedge funds at their own game. Crypto exchange FTX has listed GameStop, the global videogames retail chain, after the stock became by far the most popular choice on Reddit’s infamous Wall Street Bets, a community dedicated to trading stock market options.The FTX listing on Wednesday morning allows crypto traders to get in on the action as well. The offering comes as part of FTX’s tokenized stocks program, which features both spot and futures markets for popular stocks and indices. This allows crypto traders to get exposure to stocks using crypto and....