Meme Stocks Begin To Crumble: GameStop Market Value Falls $14 Billion, AMC Crashes 55% While Dow Jumps 600 Points

After posting their worst daily losses since October, the Dow Jones Industrial Average and S&P 500 were up 576 points, or 1.9%, and 1.8%, respectively, Thursday at about 11:15 a.m.–reversing some of their 2.5% plunges from Wednesday; the tech-heavy Nasdaq, which fell 2.6%, is up about 1.2%.

The broader market's recouped losses come as shares of so-called meme stocks like AMC Entertainment, Nokia and BlackBerry start to reverse massive gains Thursday following aAMC, BlackBerry and Nokia are down 55%, 40% and 30% Thursday after soaring as much as 570% over the prior week. Meanwhile, GameStop–the stock that started it all–is on a wild ride, surging as much as 30% by 10 a.m. before crashing 55% below Wednesday's close by 11 a.m.; the stock skyrocketing an eye-popping 800% in the week through Wednesday.

The stock's roller coaster ride comes as popular online brokerages Robinhood and Interactive Brokers, which facilitated much of the Reddit mayhem,"On the busiest week of the fourth-quarter earnings season, where companies are crushing expectations, all anyone wants to talk about is the video game equivalent of Tower Records–people need to get their priorities in order," Vital Knowledge Media Founder Adam Crisafulli said Thursday.

Yeah through controlled effort to shutdown users on tdamerittade and Robinhood that is manipulation by power at its finest. Who funds you Forbes

$GME Is rally stopped in GameStop ?

This is a perfect example of how rigged this system is. Hedge funds screw people over on a daily basis, but when the internet gets together to screw the hedge funds - they cry to the SEC. Wall Street, the SEC, Robinhood and everyone involved with this blockage should be arrested

It was going to happen anyway. Trading for kicks instead of for fundamentals is just plain a bad idea. The only good thing about it is the stunt made hedge funds lose a lot of money for doing just that: trading for kicks.

Grade D+ This article misses the mark and avoids some key journalist components regarding the market, brokers and a big question about manipulation. It seems rushed. I expect better next time.

Market manipulation

I hope Forbes will cover the law suits that are coming Robinhood's and other coporate thiefs' way in the most positive and objective way. Although regarding how you are covering this news, I highly doubt it. SHAME🔔

Yeah I would be willing to bet that Integrated Whale Media Investments is benefitting from this suppression of the retail trader

Because RobinhoodApp and others are doing something illegal to help hedge funds. aka blocking out regular traders to help BIG BIZ

They didn't crumble, roobinhood is colluding with hedge funds to manipulate the market & you are fake news!🤡

Forbes, please report that these fucking white collar criminals fucking organized this.

'started to restrict trading of shares' is a funny way to write 'sell only'... massive difference. What a shock prices plummeted

No, Forbes. Get it right. Please do a story on an the suspended trading going on today with. AMC, GME, BB

Amazing how slow Twitter and MSM is to pick up on this story. Brokerages colluded to bail out Wall St at the expense of the working class once again. And yet we'll probably never hear about this again after this week.

Let’s talk about the market manipulation that Robin Hood and others are doing right now!

The didn't crumble. Retail traders are being locked out. Please report accurately, smh

Poor schmuks are losing, yet again. Will definitely blame the rich

The only people who made any real money off this are the ones who had big bucks to dump in, knew to cash out quickly and know the tax code well enough to mitigate the short-term cap gains hit.

You forgot about the part: ..DUE TO ILLEGAL MARKET MANIPULATION BY HEDGE FUNDS

Because they’re not letting us buy it! TF!

When you are only allowed to sell, they can only go down. It's market manipulation.

They didn’t crumble. They were artificially suppressed by Robinhood colluding with short hedge funds to remove 15 MILLION traders

Because retail traders can’t buy them... not bc this is something that we were told to watch out for...

DO NOT SELL. THESE DIRTY HEDGE FUNDS KNOW THEY ARE SCREWED WITH THEIR SHORT RATIOS

It’s tumbling because they are blocked.

nice, helping w the manipulation huh. HOLDDDDD

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Robinhood Will Restart ‘Limited’ Trading In Meme Stocks GameStop, AMC As Reddit Rally UnravelsIn a tweet thread Thursday afternoon, billionaire Robinhood cofounder Vlad Tenev backtracked on the firm's decision to stop trading of the meme stocks that rattled markets this week. Why? Are only hedge funds able to make money? AMC and GameStop are literally still in business lmaooo Everyone remember: The squeeze hasn't even happened yet. This friday, ITM contracts are being exercised, which means the squeeze might happen tomorrow. If it does, it takes 5-6 days for shorts to cover their positions. Doesn't happen in just an hour. Takes days.
Source: Forbes - 🏆 394. / 53 Read more »

How meme stocks like Gamestop and AMC changed Wall StreetThe GameStop frenzy in late January forced Wall Street to pay attention to retail investors like never before. Kr00ney TechCheck Where is the wolf of wall street now to serve that market? Kr00ney TechCheck I don't know ANYONE who sold $gme or $amc this week Who in their right mind isn't HODLing at least ONE🚀ticket? GME is $150 AMC is $10 A $160 HEDGE against someone with an INFINITE RISK potential, seems like a SAFE investment strategy to me GME YTD looks 🐻 Kr00ney TechCheck AMC! AMC! AMC! AMC! AMC! AMC! AMC! $AMC! 💎🙌
Source: CNBC - 🏆 12. / 72 Read more »

Robinhood Removes Trading Restrictions On All Meme Stocks Including GameStop, AMCRobinhood’s move comes as GameStop and other meme stocks have seen their valuation drop sharply this week. 'meme stocks' 🙃 They deactivated my account and I haven’t been able to contact them to reactivate it.. it’s been over a week! They open it now when their whales friends are safe
Source: Forbes - 🏆 394. / 53 Read more »

AMC soars and this time GameStop follows as meme stocks get squeezed hardMeme stocks are playing role reversal with AMC Entertainment’s Thursday short squeeze pulling up shares in retail stock GameStop too. I’m gonna ignore that MarketWatch gets less traffic than a teenagers Facebook page. But didnt you guys tell the world that shorts were covered in Jan? So if this is a “squeeze” (for ants” then that must mean HFS are still opening new short positions? You guys are financial trash Squeeze hard? Are you on shrooms or something? Last two weeks you were bashing now you spew this BS. All you care about is clicks and since Citadel owns the majority in then 🖕you and them too
Source: MarketWatch - 🏆 3. / 97 Read more »

GameStop jumps nearly 19%; 'meme stocks' fade after another wild rideGameStop Corp shares rallied on Thursday, finishing with double-digit gains despite a sharp retreat from session highs and leading a surprise resurgence of so-called 'stonks' championed online by passionate retail investors. GameStop shares, which doubled their value on... Want to start making up to $106 everyday using your cellphone or PC, send a direct message asap. Counterattack If the pandemic situation will not change, Gamestop will not generate more revenue and the stock price will fall back to it’s original value in a long-term. Short-term gimmicks will obviously be present in the upcoming weeks
Source: Reuters - 🏆 2. / 97 Read more »

GameStop up for fifth day as meme stocks recoverShares of GameStop jumped for the fifth day running on Tuesday, as news on the video retailer's e-commerce strategy and speculation that small investors will pour stimulus checks into markets showed signs of reheating January's 'meme' stocks boom. *stonks you're a meme journalists they like the stock.
Source: Reuters - 🏆 2. / 97 Read more »