Meme stocks show that ‘community’ is profitable: Reddit co-founder
Thomas Hum, 28 June 2021
As trading platforms like Robinhood create a rise in retail investor market participation and spark a renewed interest in shares of companies dubbed “meme stocks” like GameStop (GME), BlackBerry (BB), and AMC (AMC), the world of finance is seeing an intersection with the social media sphere.
“What you’re seeing is a much larger trend here,” Alexis Ohanian, founder of venture capital firm Seven Seven Six and co-founder of Reddit, told Yahoo Finance Live. “It is the intersection of community and capital. It’s the intersection of social media and finance.” Continue reading “Article: Meme stocks show that ‘community’ is profitable: Reddit co-founder”
The Lesson Of GameStop: Investing Is Not A Game
Taylor Tepper, 03 February 2021
In a matter of days, GameStop has gone from being a dying retail chain to the latest obsession of media and markets. Along the way, the GameStop saga has morphed into a lesson in American populism, an allegory of Main Street taking a pound of flesh from Wall Street.
To recap: Video game retailer GameStop was struggling to survive even before the pandemic struck, and Covid-19 only worsened its ailing condition. Hedge funds on Wall Street smelled blood and took out massive bets that the company’s shares would drop, maybe even to zero—so-called short trades or short positions. Continue reading “Article: The Lesson Of GameStop: Investing Is Not A Game”