LOS ANGELES — The ending hasn’t been written yet, but Hollywood is moving quickly to bring the story of the GameStop investment saga to the screen. Separate projects at Netflix Inc. NFLX, +2.55% and Metro-Goldwyn-Mayer Inc. are already in development about the past week on Wall Street, in which an investing-focused group on a Reddit […]
Here’s what’s going on, in layman’s terms — the Reddit investors basically decided to make GameStop Corp. (GME) their main stock market focus, buying up as many shares as possible in order to screw over hedge funds that have shorted the stock … meaning they bet against it. This content was originally published here.
As of Thursday morning … Robinhood customers can no longer buy Gamestop stock on the free-trading app, thereby blocking members of the WallStreetBets forum on Reddit. Of course, that group of investors sparked the resurgence of GameStop’s stock. In making the move, Robinhood emailed customers warning of “the current volatile market conditions.” The notice stated, […]