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A horde of casual traders congregating in online forums forced the hands of hedge funds, shocked Wall Street, and sparked a national conversation around the power of the retail investor. Shares of GameStop, AMC, and other highly shorted companies surged through January and remain at elevated levels as day traders pile into the so-called meme stocks. Some see the trend as a simple get-rich-quick scheme. Others have likened it to a revolution against Wall Street's old guard.
On Tuesday, February 2, three members of Insider's markets and investing teams broke down the dynamics behind the rally and how the retail-trader phenomenon can develop in the coming weeks.
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WeWork, GameStop, AMC, Nucor: What to Watch When the Market OpensGameStop, the king of meme stocks, is rising sharply again, after a 53% jump Thursday good luck It’s GamesStop’s new shipping model— through the internet. I bought and keep GME and AMC. They are the US winning stocks!
Source: WSJ - 🏆 98. / 63 Read more »
Watch Live: GameStop Hearing On Market ManipulationGAMESTOP HEARING: Reddit CEO Steve Huffman says that, “We have not found any nefarious behavior” on WallStreetBets. and you'll never will, they are doing the same as the big boys are, but the big boys have powerful friends that were definitely doing after-hours shady stuff. RashidaTlaib As I've said before, its time to hold these hedge fund managers responsible for playing the markets like a casino. This type of nonsense from the likes of reddit and Robinhood cannot happen again. RashidaTlaib Ok, I don’t know the right answer here, but approaching a conversation this way is wrong. Stop asking questions if you don’t want to listen to the answer. We need to have honest conversations here and actually learn the differing perspectives about issues.
Source: Forbes - 🏆 394. / 53 Read more »