Short sellers continue to lose money on betting against the company.
GameStop shares skyrocketed over 100 percent on Wednesday, while an announcement was made that CFO Jim Bell will resign at the end of March. NBC News’ Stephanie Ruhle reports on the latest information.
Shares of GameStop jumped again on Thursday and were halted several times as heavily shorted stocks favored by Reddit traders look set for a resurgence.
The stock market bull run last year paid handsomely, drawing in players from farmers to engineers to the laid off and desperate. Now comes the hangover.
CEO Tenev tells House committee quicker trade settlements would prevent a repeat.
The frenzy over GameStop stock sparked outrage when the investing app Robinhood stopped some trading after Reddit users took on major investors trying to profit off the struggling video game retailer.
The US House Committee on Financial Services will hold a hearing Thursday, seeking explanations about GameStop’s stock volatility.
The Justice Department is looking into potential market manipulation regarding the rapid rise of GameStop’s stock price last month. Over the course of a few weeks, Redditors on the WallStreetBets subreddit mobilized and drove the price of GameStop shares up more than 5,000%. Redditors took advantage of the fact that hedge funds had unusually large…
GameStop shares headed for a second straight day of gains early Monday as Reddit’s favorite stock tried to rebound from a massive weekly loss. The video-game retailer’s stock price climbed about 11 percent in premarket trading to $70.83 as of 7:28 a.m., building on Friday’s 19 percent rise. But those gains left GameStop far from…
In just a few days, Redditors managed to drive up GameStop’s share price by more than 5,000%. The entire saga, which will eventually become a Netflix film, exposed a dirty secret long known to Wall Street insiders: short-sellers have been manipulating the market for their own benefit for decades. In a series of events that…