Robinhood lifted trading limits on GameStop, AMC, and other Reddit favorites Friday, easing restrictions that engulfed the free-trading app in controversy last week. Will shares rise again?
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Hedge funds that bet against GameStop and other stocks have been crushed by the Reddit army – and they’re infecting the rest of Wall Street. Here’s the latest.
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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. If it all seemed like too much, we can’t blame you for tuning out. Here are five key things you need to know about Wall Street’s wild week.
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So much for what goes up must come down. GameStop continued to defy gravity Thursday. Shares soared another 30% in premarket trading thanks to massive support from individual investors on Reddit.
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The GameStop frenzy on Wall Street has investors, and much of the internet, enraptured — not unlike a good horror movie. Everyone knows doom is just around the corner for some key players; a lucky few will emerge stronger; and the monster might be subdued but will ultimately come back for a sequel. Here’s what you need to know.
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GameStop is expected to lose money this year and next year. Sales growth is sluggish as fewer gamers need to go to stores — or even shop online — when they can download new titles directly from their consoles, PCs, phones or tablets. So why are shares of the video game retailer, up more than 450% so far in 2021, including a 60% surge Monday?
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GameStop is closing about 100 more stores than it originally planned, with the struggling retailer warning of more closures next year. And more closings are comin in 2021, a company exec says.
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