Tag: GME

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Article: Government agencies probe GameStop pump over potential illegal manipulation

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Government agencies probe GameStop pump over potential illegal manipulation

DUNCAN RILEY, 11 February 2021

U.S. government agencies have launched federal investigations into whether the social-media-driven activity around GameStop Corp.’s share price rise in January constituted illegal market manipulation.

According to a report today in The Wall Street Journal, both the U.S. Department of Justice and the Commodity Futures Trading Commission are formally investigating the pump of GME stock, and the Securities and Exchange Commission is also reviewing the matter.

The investigation by the justice department is being led by the department’s fraud section and the San Francisco U.S. attorney’s office who have sought information about the security activity from brokers and social media companies that were at the center of the trading frenzy. Subpoenas are said to have been issued for information to brokers including Robinhood Markets Inc. that was widely used by those buying up GameStop and other shares such as AMC Entertainment Holdings Inc. Continue reading “Article: Government agencies probe GameStop pump over potential illegal manipulation”

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Article: Short Squeeze Stockbrokers And Hedge Funds Face Proposed Antitrust Class Action

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Joseph Saveri Law Firm | 21.02.02

On January 28, many brokerages abruptly and unilaterally restricted retail investors’ ability to buy long positions—in some cases removing the option to buy shares of the relevant securities while openly permitting them to sell their existing shares or prohibiting users from viewing the tickers for some or all of the relevant securities.

Continue reading “Article: Short Squeeze Stockbrokers And Hedge Funds Face Proposed Antitrust Class Action”

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Hedge Funds are Getting Crushed by the Worst Short Squeeze in a Quarter Century

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Matt Egan | 21.02.02
A mob of traders on Reddit’s WallStreetBets page have sent GameStop (GME), AMC (AMC) and other stocks skyrocketing in recent days. GameStop lost a quarter of its value Monday but it’s still up nearly 1,200% on the year. WallStreetBets successfully triggered an epic short squeeze, where investors that bet against GameStop have been forced to unwind their bets and buy the stock back. That in turn has driven GameStop even higher, creating even more losses for short-sellers.

Continue reading “Hedge Funds are Getting Crushed by the Worst Short Squeeze in a Quarter Century”

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How Redditors Beat Hedge Funds at Their Own Game(Stop)

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21.01.27 | By Eric Levitz

But the value of a company can’t be reduced to its expected future earnings. One must also consider a wide range of other factors. Among them: How much nostalgia does the firm inspire in users of the Reddit forum r/wallstreetbets? And would a rally in GameStop shares be funny? Which is to say, has the firm crossed the “so bad it’s good” threshold, as inadvertent comedic masterpieces like The Room or Troll 2 had done before it?

America’s top hedge funds failed to ask these questions. Fortunately, the collective wisdom of rational market participants ensured that they were eventually incorporated into GME’s stock price. And, as of 3 p.m. Wednesday afternoon, a share in the GameStop corporation attained its true, objective value of $321.14.

Continue reading “How Redditors Beat Hedge Funds at Their Own Game(Stop)”

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Game On In Silver: This Could Be For Real

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Andrew Hecht | 21.02.02

During the past several days, the highly-speculative silver market became a central focus of the social media crowd. Markets move high when buyers are more aggressive than sellers and vice versa. Silver is now the next target for the herd that cashed in on GameStop and other shares with short interest. Silver and GME shares are very different assets, but the price action puts them in the same category in the current landscape.

Continue reading “Game On In Silver: This Could Be For Real”

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A Trading Forum on Reddit Leads a Stock to Surge over 1700% in Just One Month! Who is the Villain in the GameStop Saga?

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Who is the villain in the GameStop saga?
Ananya Narang | 21.01.30
This extensive and sudden surge in the share prices of GameStop has also led to short-sellers experiencing record losses with the instances shorting in GameStop shares increasing by some 1.53 million just over the last 30 days. This has given the gaming company a short interest of nearly 71.79 million shares. Experts and market analysts claim that the super surge in share prices is the result of a fight between private investors and professional investors.

Continue reading “A Trading Forum on Reddit Leads a Stock to Surge over 1700% in Just One Month! Who is the Villain in the GameStop Saga?”

THE DOLLAR HAS NO INTRINSIC VALUE : DO YOUR ASSETS?