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A hedge fund manager who suffered massive losses as part of the GameStop feeding frenzy is in the midst of expanding his $44 million Miami Beach home, it has emerged. Gabe Plotkin, who founded Melvin Capital Management in 2014, has seen his company lose 53 per cent of its value in January – in large … Read more
Drama surrounding the GameStop trading frenzy proves that Wall Street is ‘a rigged game,’ Elizabeth Warren said on Sunday. The Massachusetts senator, known for her tough take on the financial system, said that the market had been turned into a ‘casino’. She urged the Securities and Exchange Commission (SEC) – founded following the stock market … Read more
Ten-year-old investor makes more than $3,000 on 10 GameStop shares his mother bought him for $60 as a Kwanzaa gift in 2019 Jaydyn Carr’s mother, Nina, purchased 10 shares of GameStop stock in 2019 She gave them to her son as a Kwanzaa present to teach him about investing That lesson in investing definitely paid … Read more
The staggering rally of shares in beleaguered video game retailer GameStop is minting new millionaires, and costing hedge funds billions of dollars – at least on paper. GameStop shares rose another 70 percent on Friday in a staggering rally driven by small investors on the online forum Reddit that has seen the stock surge 1,800 … Read more
We publish our podcast every Friday to the player on This is Money, above, and on Apple Podcasts (iTunes) and on the podcast platforms Audioboom and Acast, both of which allow you to listen on desktop, mobile, or download an app. We also now publish to Spotify. To download the Apple Podcasts app if you … Read more
Game on again? Gamestop shares jump to brink of $400 in pre-market trading as Trading 212 app lifts its block on the controversial stock The stock moved back up to as high as $393 (£286) in pre-market trading Reddit-fueled meteoric rise was reversed yesterday after Robinhood blocked it UK investors can buy it again through Trading 212 … Read more
The CEO of trading platform Robinhood has defended his firm’s highly controversial decision to halt trading of certain stocks on Thursday, insisting it was for the good of customers and the company. Vlad Tenev, a 33-year-old Bulgarian-American businessman, co-founded Robinhood in 2013. On Thursday night he explained why his platform had infuriated users by preventing … Read more
Watchdog warns on market abuse and high-risk trading as GameStop fever hits Britain: FCA sounds the alarm on the Reddit vs hedge funds fight GameStop saga continued yesterday, as trading app RobinHood stopped buys Traders piling into shorted stocks have also picked up on beaten-up UK shares FCA said personal investors should take care in … Read more
The Reddit poster and YouTube streamer who caused a Wall Street crisis by driving up the price of GameStop – and boasted about his $47 million gains – is a suburban financial adviser who nicknames himself Mr. Wizard, DailyMail.com can reveal. Keith Gill, 34, is the man behind the Roaring Kitty YouTube streams and the … Read more
An obscure Reddit forum, a failing games shop, and a saga that could end up costing Wall Street billions – welcome to the bizarre trading scheme that is shaking up stock markets across the world. Gangs of armchair investors, using a page called Wallstreetbets to organise, have been roving the internet in recent days – … Read more