Robinhood's published terms of service state that the company can "in its discretion, prohibit or restrict the trading of securities, or the substitution of securities, in any of My Accounts.". They did … ($ in billions) - without effect of redemption of 2019 notes Equity Value: $1.1 Enterprise Value: $1.4 EV/Sales: .18x EV/EBITDA: 3.4x ‘18-‘20E Sales CAGR: -4.8% EBITDA Margin: 5.7% ALL RIGHTS RESERVED. A post predicting "the Mother of All Short Squeezes" for GameStop stock sat at the top of Reddit's "Popular" page at 8:30 a.m. Palantir Technologies Inc (NYSE: PLTR) is emerging as the new darling of the Reddit investor forum r/WallStreetBets. Members of the subreddit r/WallStreetBets, known for pumping stock prices of cult names like Tesla, started a bull case for GameStop about twenty-one months ago when one member included in a post that the company’s valuation “does not reflect the … © 2021 CNET, A RED VENTURES COMPANY. Though GameStop shares have been jumping in recent days, analysts and experts say they're doing so because of quirks in the market and not because of actual increased value for the struggling video game retailer. Interactive Brokers is also reportedly restricting trading access to certain stocks. But his continual explanations of why the shares were undervalued began to get traction. Jaime Rogozinski says he saw the GameStop chaos coming. Gamestop: Short interest continues to pile into this stock while earnings estimates have moved up 12% in the past month. The spillover impactions for the broader market were clear on Wednesday, as the Dow Jones Industrial Average tumbled more than 600 points and benchmark 10-year Treasury note yields fall below 1% for the first time in three weeks. AMC shares also fell, dropping more than 40%, to $11.90 per share, after closing at $19.90. Elon Musk, the CEO of Tesla who's helped to drive attention to the GameStop stock madness, tweeted his disappointment with Discord Wednesday. The action caused GameStop… That’s where the investors in the ~4.9 million member Reddit r/wallstreetbets group enter this story. Keith Gill, the Redditor known as “DeepF–kingValue” who led an army of average Joes to drive up the cost of GameStop stocks, is everything you’d expect him to be. The so-called subreddit was taken offline by group moderators last night, but returned to service shortly after amid a debate over the impact of retail investors on the broader market and the ethics of hedge funds betting against the stock of struggling companies. Rumors on Reddit’s WallStreetBets trading forum of more short selling may have helped fuel the rally. The biggest gain for today is, unsurprisingly, GameStop . The stock fell 30 percent on … Meanwhile, chat app Discord has banned WallStreetBets outright.Â, Around the same time, spooked investors appeared to dump GameStop and AMC shares the community had been buying up to take on people betting against the company's futures.Â. That … Being long GameStop I figured I’d provide some of the reasoning behind my investment thesis. A meteoric rise in the share price of GameStop has trained the eyes of stock market watchers on a fast-growing Reddit discussion board called Wallstreetbets, where it … If all this is confusing, don't feel bad. WallStreetBets (WSB), the Reddit community that encourages anyone with an internet connection to trade like a stock broker, is still impacting the … Multiple users of the online retail trading platform Robinhood, meanwhile, have reported restricted access to certain stocks, including GameStop, AMC Entertainment AMC and others, which immediately triggered sharp pre-market pullbacks. not because of actual increased value for the struggling video game retailer. These fast and dramatic moves are happening amid one of the most dramatic weeks on Wall Street in years. So why has it gone up so much over the past week? The CBOE's key volatility index, the VIX, rose the most since March of last year and is now trading 46.5% higher in extended hours dealing at 33.72 points, the highest since November 3. CNBC has also reported that Melvin Capital, a hedge fund run by Gabriel Plotkin, exited its GameStop short late Tuesday, while several questions over the strength of its liquidity and capital remain. Its worst community members, who repeatedly broke Discord's rules, caused the group to be banned from the platform, the chat app company said in a statement. But the community has been banned from Discord as AMC, GameStop stocks go wild. Video game retailer GameStop’s stock rose over 1,000 percent after it was championed by the r/WallStreetBets subreddit. (wsb stands for “ r/wallstreetbets ” a forum or “subreddit” on the popular social platform Reddit, where the discussion centers around investing -- especially speculative investing). At stake are millions of dollars that small-time investors working together on social media have made while taking on Wall Street investors who bet GameStop and AMC stock would plummet. GameStop, traded as high as $483 per share Thursday before tumbling to as low as $112 amid a host of trading restrictions from online brokerage firms. As the drama unfolded from the Discord ban and the Reddit community going on lockdown, GameStop shares fell 32% in after-hours trading late Wednesday, to $218.32 per share, down from $347.51 at their close. Their assailants are a collection of traders using Reddit’s wallstreetbets thread to coordinate their attacks, which seem to be focused on stocks known for being held short by hedge funds. On Wednesday evening, the community reeled from seeing the subreddit locked and hidden, only to be made public again about an hour later. Receive full access to our market insights, commentary, newsletters, breaking news alerts, and more. For the past week, Reddit's r/WallStreetBets community has been the center of an epic war between large Wall Street investors and small-scale social media betters. Both stocks have recovered somewhat, and the r/WallStreetBets community is back. One of the WallStreetBets Redditors, “SSauronn”, explained the reason why he was taking on the business as usual, destroy and conquer greed of the hedge funds. Which is why the Hedge Funds vs. Reddit WallStreetBets/GameStop battle resonates with me. Culture GameStop Reddit. © 2021 TheStreet, Inc. All rights reserved. Connected by the Reddit community WallStreetBets, small investors followed the advice on Reddit to drive up shares of GameStop, AMC and others. AMC shares slumped 55% to $8.84 each after the reported restrictions on Robinhood, while GameStop shares were last marked 26% lower in mid-day trading to change hands at $255, after briefly hitting $112.50 per share in early dealing. Moderators of the WallStreetBets online discussion forum, which has been credited with creating a frenzy in the shares of GameStop … GameStop stock, Reddit and WallStreetBets: what you need to know. A … The same is true for the movie theater chain AMC, which had warned it was near bankruptcy late last year. "Stop f---ing selling GME," is the title of a thread on the WallStreetBets forum, home of the Reddit army that boosted the gaming retailer's stock price in recent weeks. On Wednesday afternoon users on the popular forum initiated another short squeeze after a Redditor claimed hedge funds were flooding the market with GameStop short positions after it was revealed the company’s CFO was pushed out. Reddit's WallStreetBets hit by bots 05:49. The stock has gained more than 1640% over the last 10 trading days, adding $23 billion in value to a struggling video-game retail that has cautioned investors it won't turn a profit for at least the next two years. It added that the ban had nothing to do with any talk of finances or stock that happened among WallStreetBets users. GameStop Resumes Wall Street's Wildest Ride Amid Robinhood Restrictions, Reddit-Fueled Rally GameStop, traded as high as $483 per share … Reddit forum r/WallStreetBets had cheered on retail investors who bought shares of GameStop and other “meme stocks” to burn people who bet against the companies. The idea began circulating on a subreddit called WallStreetBets, which is an online forum within Reddit where users discuss which stocks they are buying and selling. It has been a wild few weeks on Wall Street after the so-called "degenerates" over at the WallStreetBets subreddit decided to go all-in and prop up faltering gaming retailer GameStop… GameStop Reddit Investors Versus the Hedge Funds: A Summary. That stock had risen more than 301% during the day. Some r/WallStreetBets posters think so, setting EXPR stock up to be another potential Reddit winner. GameStop's stock has become a battleground this past week, as you've likely seen on social media. One of the most prominent figures on the WallStreetBets subreddit that sent GameStop stock skyrocketing has been slapped with a lawsuit. GameStop Corp.  (GME) - Get Report shares extended their extraordinary ride Thursday, touching an all-time high of $483.00 each, as the retail-driven frenzy for selected stocks continues to grip Wall Street even as two popular online brokerage firms restricted trading on some of the market's more active stocks. Citron Research, a high-profit short-seller that published a report highlighting GameStop's weaknesses last week, has claimed to be the victim of harassment and threats from Reddit users before pulling its position against the stock. During the day, they'd more than doubled. WSB was set to private on Reddit by mods and banned from Discord for “hate speech, glorifying violence, and spreading misinformation.” “To be clear, we did not ban this server due to financial fraud related to GameStop or other stocks,” read Discord’s statement. GME - Gamestop Purchase 3.82. "We have the advantage. They made GameStop the primary target because it was discovered that hedge funds were short selling the stock, as GVSU economics professor Dan Giedeman explains. The only stay at home play that hasn’t trended upward. Instead, as the two company's stocks have soared, the Wall Street investors have reportedly hemorrhaged billions of dollars. Stock prices going up due to artificial price manipulation is their worst nightmare. Then, as suddenly as everything began, the subreddit came back, a new Discord community was formed, and others bought in to the stocks, sending AMC and GameStop prices back up. It seems like good folks are WallStreetBets are back at it again. Stock prices naturally going up over time is a short-sellers worst fear. All this wasn't the only bad news for the WallStreetBets community. "It's fascinating to watch," said the founder and former moderator of WallStreetBets, the now-famous Reddit online forum that recently sent shares of GameStop, AMC and other beleaguered companies soaring in a battle with hedge funds betting the shares would fall. Switch consoles have been sold out everywhere while GME has been able to sell bundles via website. Members of the r/WallStreetBets Reddit community that’s taken Wall Street by storm discuss the GameStop frenzy and what drove them to scoop up shares. Basically a group of redditors on the subreddit r/wallstreetbets decided to band together to purchase GameStop stock (and other shorted stocks). This photo illustration shows the logo of WallStreetBets on a computer and the Reddit logo on a mobile phone in Arlington, Virginia on January 29. It brought back that anger and flood of memories mentioned in the preceding paragraphs. GameStop remains, however, one of the most bet-against stocks on Wall Street, according to data from S3 Partners,  which tracks details on short positions, said there was more than $5.5 billion in bets against the stock at the close of trading Tuesday, representing 71.8 million shares, but also noted that short-sellers are nursing losses of more than $5 billion since the start of the year. But the community has been banned from Discord as AMC, GameStop stocks go wild. GME. GameStop's early Thursday surge also followed a brief outage for the Reddit-based chatroom, Wallstreetbets, that has been identified as the source for much of the stock's popularity since it began its ascent on January 12. Express, like GameStop, is a staple of the dying brick-and-mortar retail era. Subscribe to CNET Now for the day's most interesting reviews, news stories and videos. Action Alerts PLUS is a registered trademark of TheStreet, Inc. GameStop shares are going to the moon, largely thanks to the power of Reddit and a ‘meme war’ waged with investors. Enough that even Reddit was hit with issues as people surged in to check WallStreetBets. "Today, we decided to remove the server and its owner from Discord for continuing to allow hateful and discriminatory content after repeated warnings," Discord said. If you'd taken an hour and a half to watch Pixar's new movie, Soul, you'd have missed it. Reddit's WallStreetBets is back, taking on GameStop stock after intentional lockdown. One of Reddit's most active communities is no longer public. 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. He’s 34, wears a…
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