Tag Archives: Gamestop

GameStop share price as of 4.30pm.

This afternoon.

Further to a Wall Street backlash against trading shares in GameStop, the US video game retailer, whose share value climbed more than 900% since members of the Reddit community WallStreetBets banded together in an effort to push the stock higher…


…At some point, the thinking goes, shares of GameStop will stop climbing, either because most of the shorts have given up and are no longer forced into buying the stock to cover losing positions or because brokers or U.S. market regulators intervene.

At that point, human nature kicks in: Retail investors will watch as their paper profits evaporate, and the natural impulse will be to sell, according to the executives, who spoke on condition of anonymity to speak frankly. Latecomers to the party will sell in fear, contributing to a stampede for the exits and a drop in the shares, they added. The same forces that helped the stock catapult higher will contribute to a rapid decline.

Still, there is no telling when a true unwinding will occur or how long it will take. The shares were rebounding sharply in Friday’s premarket, up another 80% to $332 a share, after Robinhood reversed course and said it would allow limited purchases of the stock…

.with millions of Redditors wielding free trading apps, full saving accounts and not much else to do, it’s possible that there is a new playbook for fast gains in the stock market.

This is how Wall Street thinks the Reddit-fueled GameStop trade unravels (CNBC)

Yesterday: Gaming A Rigged System

This morning.

Reddit has restored its WallStreetBets subreddit page after removing the community for “racism” and “hate speech”.

Rookie stock market investors on the platform joined together to purchase stock in targeted companies causing a major disruption in the stock market and resulting in several hedge funds to go bust.

GameStop stock rose 1,600 percent in January alone.

Memes have broken the brokerages (The Verge)

Last night: Tomorrow Tonight: Heber Rowan on Gamestop @14.01


A little background.

GameStop’s three largest shareholders earn over $2bn amid stock surge (The Guardian)