The saga of WallStreetBets and GameStop is still unfolding, but there’s already not one but two deals to turn it into a movie. The first was by MGM, to adapt an unwritten book, and the second by Netflix.
With hedge funds at the center of the market drama, the GameStop saga is likely to expedite a regulatory review of the ever-larger role played by non-bank firms in the financial markets, regulatory experts said. Melvin Capital, one of the biggest funds betting on a drop ...
Amazingly, it's working. Due to its GameStop short position, Melvin Capital is heavily in the red, saved at the last minute by a$2.75 billion monetary infusionfrom investment companies Citadel and Point72. The retail traders longing the stock are hoping to achieve a short squeeze, which wou...
The now-infamous Reddit forum r/WallStreetBets inflated the stock price of video-game retailer GameStop, outwitting—and nearly bankrupting—hedge funds that had bet against the stock. “That actually happens quite a bit on Reddit within specific communities,” Wong says. “Maybe not at that sc...
When GameStop’s stock price fell by over 50 percent on Tuesday, closing at $90,we weren’t sure if it was going to pick back up or keep going down. It seems we now have our answer, as GME is down another 41 percent, closing today at just $53.50. ...
‘We are aware of and actively monitoring the on-going market volatility in the options and equities markets and, consistent with our mission to protect investors and maintain fair, orderly and efficient markets, we are working with our fellow regulators to assess the situation and ...
This is best presented through Ferrera’s Jenny, another character who it is hard not to root for, as she risks her health working at the hospital, while she looks for love, tries to stay afloat for her two kids, and just wants to find a way out of her financial situation. If Keith...
Journalism School, she spent several years working with startups and social impact businesses for Unreasonable Group and B Lab. Before that, she co-founded a startup consulting business for emerging entrepreneurial hubs in South America, Europe, and Asia. You can find her on Twitter at@cecily_...
GameStop, Reddit, and Hedge Funds, Explained For the past five years, Gamestop has looked a lot like other brick-and-mortar retail businesses: a former success of the “hanging out at the mall” era that was now struggling in theage of e-commerce. The company got a shot of good...
Here's the official SEC statement, released at lunchtime:We are aware of and actively monitoring the on-going market volatility in the options and equities markets and, consistent with our mission to protect investors and maintain fair, orderly, and efficient markets, we are working with our ...