The website listed a coin dubbed WallStreetBets (WSB) above the world’s top cryptocurrency, bitcoin, earlier this week. As of Sunday, WallStreetBets still outranked major cryptocurrencies, as it gained nearly 130 percent in the past 24 hours and over 1,160 percent in a week. The price of the WallStreetBets token is …
Read More »GameStop investor clash will be won by Wall Street sharks because the game is rigged – analysts
The story of the American video game retailer went viral after a group of Reddit users launched a flash-mob, gobbling up the firm’s shares. The campaign resulted in GameStop’s stock price growing over 1,800 percent. The move washed billions of dollars out of the biggest hedge funds, which were short-selling …
Read More »Warren accused of ‘protecting’ hedge funds by saying Gamestop surge helps no one, demanding SEC action
“Casino-like swings in stock prices of GameStop reflect wild levels of speculation that don’t help GameStop’s workers or customers and could lead to market instability,” Warren wrote in a Friday letter addressing controversy on Wall Street. Warren, long painted by herself and supporters as a critic of Wall Street, said …
Read More »Robinhood imposes ONE share buy limit on DOZENS OF STOCKS amid GameStop scrutiny
Robinhood users angrily took to Twitter to display screenshots indicating the app was blocking them from buying more than a single stock of some companies. The trading lockdown on Friday wasn’t limited to GameStop ($GME) – users were posting similar shots of failed efforts to trade other stocks of companies …
Read More »The GameStop gamble is a disaster. You don’t fix a broken system by playing by its rules
How does one spot a market mania? Joe Biden’s Treasury Secretary Janet Yellen spent almost two decades working at the US Federal Reserve. Her failed policies created the most significant wealth-inequality gap ever, while simultaneously inflating the most grotesque asset bubbles in the stock, bond, property and credit markets in …
Read More »Is trust in the free market system shot after Robinhood cut off GameStop trading? RT’s Boom Bust digs into a Wall Street scandal
The restrictions came after the platform’s users reportedly coordinated on social media to inflate the value of GameStop and other companies’ stock and inflicted billions of dollars of losses on financial giants that had taken short positions against the struggling companies. The host of RT’s Boom Bust, Sara Montes de …
Read More »Reddit investors vs. Wall Street: The GameStop saga (so far) explained
Potentially the biggest thing to rock the US financial system since the 2008 meltdown, it all started with GameStop, a bricks-and-mortar video game retailer. Already under pressure from the competing digital-purchase model, the firm found itself really struggling last year, with the lockdowns and subsequent economic slowdown severely affecting its …
Read More »GameStop controversy put AOC & Trump Jr on SAME PAGE against Wall Street – but panicked MSM smears Reddit traders as ALT-RIGHT MOB
The former president’s son responded to ruling-class efforts to crush the rally, including Thursday’s move by trading app Robinhood to ban its users from buying shares of GameStop and other stocks targeted by grassroots investors, by saying, “This is what a rigged system looks like.” Trump Jr. tweeted: “It took …
Read More »‘Sad billionaire’ slams ‘LOSER’ GameStop investors – then laments Biden taxes he voted for as ATTACKING THE WEALTHY
People “sitting at home getting their checks from the government, trading their stocks” are the problem, Leon Cooperman said on Thursday. In a lengthy appearance on CNBC’s Fast Money: Halftime Report, the CEO of the New York-based Omega Advisors took aim at the small investors buying up stocks the “more …
Read More »Mega-investors punished with $70 BILLION LOSSES as GameStop and other shorted firms see stock surge – data analysts
Short-sellers lost $70.87 billion on US companies this year so far, according to analysis from Ortex reported by Reuters on Thursday. To put the loss in perspective, $70.87 billion is half a billion dollars more than the GDP of Slovenia, according to CIA statistics. In the world of stocks, short-sellers …
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