Shares of AMC surged 23% to nearly $57 on Monday, following an 80% rally in the previous week. AMC has gained more than 120% since the beginning of the month, after a wild growth of 160% in May, pushing its 2021 rally to over 2,600%. Last week, the trading frenzy …
Read More »Woman sues Reddit for selective blindness to child porn on its platform
The photos and video in question, taken when the anonymous woman, dubbed ‘Jane Doe’, was 16, were posted by a vengeful ex-boyfriend in 2019. Doe immediately alerted Reddit that the sexual videos and photos featuring her image had been posted without her knowledge or consent, but the social network reportedly …
Read More »Reddit fires controversial transgender activist linked to TWO pedophilia scandals after users revolt
“As of today, the employee in question is no longer employed by Reddit,” the platform’s CEO Steve Huffman wrote in a Reddit post on Wednesday, referring to Challenor. “We did not adequately vet her background before formally hiring her,” he said. Huffman wrote that Reddit initially tried to shield Challenor …
Read More »‘What just happened?’ Reddit blows ‘entire marketing budget’ on 5-second Super Bowl ad… with a nod to GameStop thriller
“Wow, this actually worked,” read a guerrilla commercial only the most eagle-eyed viewers managed to notice during a historic Super Bowl clash between the Kansas City Chiefs and Tampa Bay Buccaneers. “If you’re reading this, it meant our bet paid off,” the ad said, urging viewers to pause their TVs …
Read More »GameStop’s last stand? Reddit-fueled stock boom winds down as much-memed stock dips below $100
GameStop (GME) dropped as much as 60 percent on Tuesday, dipping below $100 as the Wall Street and mainstream media measures aimed at ‘stabilizing’ the frenzied trading of the past week began kicking in. Retail traders have been unable to use the popular app Robinhood to trade GME and a handful …
Read More »Netflix & MGM race to produce dueling films dramatizing ‘Reddit Rebellion’ & GameStop ‘stonk’ frenzy
Though the real-life plotline has yet to conclude, as a horde of amateur traders continue to force a multibillion dollar short squeeze on major Wall Street players, Netflix is already racing to cash in on the GameStop caper, entertainment outlet Deadline reported on Monday. The streaming service is believed to …
Read More »Market makers didn’t force my hand to save their hides from Reddit investors, Robinhood CEO tells Elon Musk in interview
Robinhood’s Vladimir Tenev has become one of the most sought-after interviewees for outlets covering stock market news, due to the role he played in the stand-off between large short-selling hedge funds and a crowd of small-dollar investors from the Reddit community WallStreetBets. But Elon Musk is arguably the most unusual …
Read More »Reddit users in US, Canada plagued by outages in service amidst GameStop stock frenzy
Outage monitor downdetector.com reported the outage complaints from users. Outages for the site have been reported every day this week. “We did have some issues with higher error rates this week…It meant slower load times for some users but we were never hard down,” a spokesperson for Reddit told Reuters …
Read More »US stocks take beating as Dow sheds 620 points & ‘Reddit Rebellion’ continues to drive massive surge in GameStop shares
The Dow shed just over 620 points as markets closed on Friday, sinking more than 2 percent, while the NASDAQ and S&P 500 saw similar losses, declining 2.7 percent and 1.9 percent, respectively. All three benchmarks dropped by more than 3 percent since Monday, seeing their worst week in three …
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 …
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