Reddit traders behind GameStop mania have animosity toward Wall Street elite, says PredIQt’s William LeGate William LeGate, founder and CEO of cryptocurrency platform PredIQt, joins CNBC’s “The Exchange” to discuss the populist forces behind the GameStop mania and what it means for Wall Street. 05:08 This content was originally published here.
As of Thursday, the stock had risen to hundreds of dollars, whereas it was circling perhaps one-tenth of the value last week. This came about by some finance-savvy Redditors that went up against Melvin Capitol and Citron Research who intended to “short sell,” according to Dr. Arnold. “This is where you borrow the stock and […]
Wall Street can’t take its eyes off once-unloved stocks such as GameStop and BlackBerry , which are rocketing due to a kind of betting game played by online forum users. The real risk is that investors start to believe something deeper is going on. The past year has seen a boom in individuals buying stocks […]
WallStreetBets, the subreddit behind engineering GameStop’s record shattering stock price surge over the past week, has been banned from Discord for hate speech, The Verge reports. GameStop’s stock doubled today, rising from the previous day’s record of over $150, to a new peak of over $300 a share, all because day traders on the WallStreetBets […]
“We have grown to the kind of size we only dreamed of in the time it takes to get a bad nights sleep,” u/zjz wrote. “We’ve got so many comments and submissions that we can’t possibly even read them all, let alone act on them as moderators. We wrote software to do most of the […]
We have been experiencing some problems with subscriber log-ins and apologise for the inconvenience caused. Until we resolve the issues, subscribers need not log in to access ST Digital articles. But a log-in is still required for our PDFs. This content was originally published here.
The meteoric rise in GameStop’s stock, as traders congregating on Reddit and Discord take on short sellers and hedge funds, is hard to look away from. This content was originally published here.
Discord has banned the r/WallStreetBets server, the company confirmed to The Verge. Reddit’s WallStreetBets subreddit is the driver of an unprecedented rally of GameStop stock, and has received a great deal of attention in the press as the stock continues to soar. Discord says it did not ban the server for financial fraud — rather, […]