GameStop Stock's Explosion Over Six Days. A sign is seen outside a GameStop store in the US. This past August, as Gamestop the stock failed to keep up with a broader equities market that was heating up, former CEO of pet food e-retailer Chewy Inc. (NYSE: CHWY) and generic venture capital type guy Ryan Cohen started accumulating shares until he owned 12.9% of Gamestop. A big reason for that is how deeply hated GameStop's stock was by hedge funds and other professional investors on Wall Street. There was a lot to unpack in the deluge of news this week about GameStop, the stock market, Reddit groups, trading apps and hedge funds. Ultimate. Fast-forward six months to 2021, and over the course of five days, GameStop's stock went from $40 on Jan. 21 to a peak of $468 on Jan. 28. The share price of GameStop increased from $17 in the beginning of the year to $300 by January 26. Phantom shares resulted from hyper-shorting with the intent of driving GameStop into the ground. After a banner week in which renegade Reddit-based trading shot up the value of GameStop stock to nearly $470, the company’s share price now appears to be on a downward trajectory. GameStop is a publicly traded company, best known for selling video-game discs and cartridges in shopping malls. On Jan. 25, GameStop was the most traded stock in the entire world on Jan. 25. Reddit, GameStop and the Stock Market explained through Carson Wentz. News. As far as anyone can tell, Reddit users from the WallStreetBets sub-reddit banded together to buy up GameStop stock, some believe explicitly in order to fuck over hedge fund managers. Over the long term, a stock's price tends to track with the company's profits, and GameStop's prospects for earnings remain cloudy. If readers need a CliffsNotes lesson on recent events, back in January GameStop was, as a questioning and furrowed brow nightly news alerted us, … The actions of a Reddit subgroup known as r/wallstreetbets have recently drawn in attention from Congress as Reddit members caused an entire hedge fund to go into bankruptcy over GameStop stocks. GameStop's Reddit-Fueled Stock Surge Explained in Simple Terms. GameStop, a struggling chain of video game stores with an outdated business model became the talk of the town when its stock price rose by nearly 1900%. It started with video game retailer GameStop… Explained: GameStop & How Reddit Caused Wall Street Billions In Losses. GameStop Stock Price Explained: The Big Squeeze The /r/WallStreetBets Reddit forum is currently 4.7 million members strong at the time of writing, up from 1.8 million on January 18, according to internet archive WayBackMachine . GameStop and Reddit have taken over the financial world but many are confused about the details of the story. Let’s dig into how the posters became the wolves. The GameStop stock frenzy, explained. Press J to jump to the feed. September 2019 – A day trader in a Reddit forum known as r/WallStreetBets announced he was going long GameStop to the tune of about $50,000.Initially his peers were dismissive. NEW YORK — It is not simply you. As a result, big hedge funds have lost nearly $6.7 billion and are facing bankruptcy (Melvin has already requested a $2.75 billion bailout). Press question mark to learn the rest of the keyboard shortcuts. Fast-forward six months to 2021, and over the course of five days, GameStop's stock went from $40 on Jan. 21 to a peak of $468 on Jan. 28. ... How Reddit (and GameStop) changed finance: They also spotted flaws in some of the hedge fund's investment strategies. Over the long term, a stock's price tends to track with the company's profits, and GameStop's prospects for earnings remain cloudy. What's going on with GameStop's stock doesn't make sense to a lot of people. The video game retailer's shares are still far higher after investors on social media pushed their value up. Its sales dropped by … ... Gamestop is the most shorted stock on Wall Street. GameStop, a company that was expected to close hundreds of stores in 2021, has made a stunning comeback in the stock market.And it's all thanks to an army of Reddit … But his continual explanations of why the shares were undervalued began to get traction. 9.0k. The more demand increased, the more that the price rose. With that out of the way, what exactly happened to GameStop’s stock? By now, we’re sure you’ve heard that the GameStop stock has blown up because of Reddit. The struggling online game retailer’s inventory has been making stupefying […] Gamestop Explained: How Reddit investors took on Wall Street hedge funds Angharad Carrick. By the end of another frenetic day of trading Tuesday, the stock had just topped its high from Monday. Essentially, a bunch of Reddit users in a group called r/WallStreetBets learned that hedge funders were betting that shares in GameStop would plummet, which would create an opportunity to make money. On Jan. 25, GameStop was the most traded stock in the entire world on Jan. 25. By 9News Staff. Gamestop stock (GME) explained using Smash Ultimate. The video game retailer’s stock price has seen a nearly 2,000% increase since the start of January. It’s important for me explain this why this is so much different than the VW example… 140% of GameStop’s FLOAT was sold short. Wall Street has been watching GameStop in awe as a band of Reddit-obsessed retail investors managed to push the stock up 1,500% in two weeks, … Many were betting on GameStop's stock to fall by “shorting” it. 9.0k. The GameStop stock rally is the handiwork of r/WallStreetBets, a Reddit community where people share news, memes and personal anecdotes about playing the stock … How a bunch of Redditors made GameStop’s stock soar, much to the chagrin of the hedge funds attempting to short it. Over the long term, a stock's price tends to track with the company's profits, and GameStop's prospects for earnings remain cloudy. GameStop was worth $4 in July 2020. Posted by. The more Reddit users bought the GameStop stock, the more that the demand for GameStop stock increased. The struggling video game retailer's stock has been making stupefying moves this month, wild enough to raise concerns from professional investors on Wall Street to the hallways of regulators and the White House in Washington. A big reason for that is how deeply hated GameStop's stock was by hedge funds and other professional investors on Wall Street. GameStop, alongside fellow meme stock AMC, have seen increased volatility and search volume in the last week. The stock saga began after a legion of retail traders banded together in the WallStreetBets forum on Reddit and decided to invest in GameStop stocks in … This is a poor niche for a profit-seeking entity in 2021. Little-guy investors are supposedly cratering billion-dollar hedge funds. GameStop was worth $4 in July 2020. Veteran tech journalist and New York Times Opinion Podcast host Kara Swisher joins to explain what's going on with the fight over stock in the video game retailer, GameStop… Bitcoin is a distributed, worldwide, decentralized digital money. On Thursday, it reached a high of $470 ― which is weird, because the increase has not been driven by astonishingly good performance on the company’s part. WHY IT BLEW UP. This week, it hit a high of $380 per share and created a new billionaire. Gamestop Stock Update as Reddit Investors Continue War With Wall Street WallStreetBets Founder Says Investors Are 'Outplaying' Hedge Funds Video of 'Normal Person' Explaining the Stock … Finance experts explain what's going on with GameStop stock. ... GameStop's stock rose a … How and why did a group of millions band together to take on Wallstreet via Reddit's online forums? CNN. How GameStop Stock Became Hedge Fund's Worst Nightmare After a Reddit-Driven Frenzy Explained. A community dedicated to Bitcoin, the currency of the Internet. Rather, a bunch of Reddit users worked together to catapult the price, at the extraordinary expense of … Late night TV is here to explain. Gamestop and Reddit Saga: We all had fun watching series like scam 1992. Reddit, social media, and now Elon Musk are involved. The frenzy is elevating issues amongst skilled Wall Road buyers whereas champions of the 99% are cheering louder from the sidelines. The GameStop stock price reached almost $500 in premarket trading on Thursday, a significant increase from Wednesday’s close of $347.51 that indicates the Reddit … Welcome to Reddit's finest Smash Bros community! Many were betting on GameStop's stock to fall by “shorting” it. In recent days, American financial markets have been gripped by the saga of a video game retailer’s soaring stock price. NEW YORK — It's not just you. Reddit surprised keen-eyed viewers of the Super Bowl in major markets with a five-second ad that referenced the company’s involvement in the recent stock market frenzy that enveloped GameStop… A bunch of redditors in a group called WallStreetBets then bought a billion gazillion GameStop shares in order to screw over those hedge-fund guys, and they did it … Stories posted on Reddit and in the media of people who lost jobs in the pandemic and finally were able to pay bills after cashing out GameStop stock… Over the long term, a stock's price tends to track with the company's profits, and GameStop's prospects for earnings remain cloudy. In the case of GameStop, chatter on massive online trading forums invigorated interest in buying the stock, pushing up the price, which in turn fueled more interest. In a word – Reddit. User account menu. An anonymous post on Reddit … What's an option? GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. Shares of the video game retailer spiked after traders on Reddit began frantically buying the company's stock. Explained | What is happening with the GameStop stock, the Reddit factor, who wins and who loses In the last few days, GameStop shares have jumped 1,600 percent, with big … GameStop has become the battlefield of Reddit vs. Wall Street, with titanic sums being made and lost. Late night TV is here to explain. On Monday, it finished at nearly $77. When retail investors refused to sell through the onslaught of market manipulation, it reversed the game in our favor. GameStop stock, Reddit and WallStreetBets: what you need to know. By now you’ve probably heard a lot of noise about how r/wallstreetbets has taken over the stock market and made millions off of GameStop. 24 days ago. CNBC.com's MacKenzie Sigalos brings you the day's top business news headlines. Reddit users like GameStop stock, but the business is still struggling. This increase seems weird considering the company wasn’t performing very well and the stock price was predicted to keep falling. GameStop’s Reddit-fueled rally, explained ... game retailer — which has seen its stock rise more than 20x since March lows — is currently an epic battleground stock, pitting Reddit day traders vs. legacy hedge funds. What you may not understand, is how, what, or why. ... “Reddit … Over the long term, a stock's price tends to track with the company's profits, and GameStop's prospects for earnings remain cloudy. That would be the meteoric rise of GameStop stock, which cost just over $4 a year ago, reached $17 at the start of this month, and closed Thursday at $193.60—which is, … Within a few years, sales and earnings will likely fall into terminal decline. All signs point to GameStop stock plunging back to earth before long. GameStop frenzy explained: How small investors on Reddit took on Wall Street ... to the opposite after the sudden rise of GameStop stock. Analysis; ... in this case Reddit. Instead, the Reddit-based investors drove the value of GameStop's stock sky-high in a turnaround called a "short squeeze." By 2016, GameStop had owned and operated approximately 1,500 mobile-phone stores under the Spring Mobile name, and in 2018, had sold the whole mobile-phone business. Interview by Luke Savage. Log In Sign Up. Stock trading euphoria caused by … An army of traders from the Reddit r/WallStreetBets has been at the center of the GameStop saga. Posting a link to the GameStop Reddit thread, he wrote "Gamestonk!!". Although it had been building for a while, the rally really took off on Monday, … https://www.thesouthafrican.com/news/gamestop-stock-saga-explained Over the long term, a stock's price tends to track with the company's profits, and GameStop's prospects for earnings remain cloudy. GameStop's stock has become a battleground this past week, as you've likely seen on social media. If it … American stock markets are in a lather. This article previously appeared on News@Northeastern. The ongoing surge in its stock price is the result of an extraordinary turn of events following the ordinary trajectory of business decision.
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