An unexpected culture clash took the masses by surprise this week when stocks for retail stores like GameStop and AMC Theaters unexpectedly climbed after a bunch of Redditors essentially screwed over hedge fund short sellers who misplayed bets in the companies. Confused yet? We got you covered.
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First it was the Redditors, hatching plans to hype the shares of a sleepy video game retailer. Then it was the hedge fund shorts they had schemed to topple. Now, one of Wall Street’s strangest weeks in memory has a new main character: the stock-trading app Robinhood. With a historic run-up in the …
We see you, 2021, literally giving 2020 a run for its money by having the stock market go berserk because of — wait for it — Reddit? The unexpected culture clash took the masses by surprise this week when stocks for the embattled brick-and-mortars GameStop and AMC Theaters unexpectedly climbed after …
Small investors who gathered on the social media platform Reddit sent shares of AMC Entertainment, owners of the world’s largest theater chain, on a wild roller coaster ride this week. The Leawood, Kan.-based company’s stock quadrupled in value, to $19.90 from $4.96, Wednesday as amateur investors …
One would almost expect the iconoclasts who populate online investment forums to appreciate short sellers. After all, both communities are constantly on the prowl for investment opportunities that the big boys on Wall Street have overlooked, though the online denizens generally are looking for …
