GameStop short interest fell to just 18% of its float on Friday, an new low for 2021, as shares in the video game retailer continue to gain ground.
The study revealed 28% of people think the Wall Street Bets saga was a positive event, while 40% believe stocks were restricted to help hedge funds.
GameStop shorts were down $10.75 billion year-to-date as of Thursday afternoon as the stock ripped even higher, according to S3 Partners.
A user posting as "KitrosReddit" garnered over 25,000 upvotes for their post on a potential "mother of all gamma squeezes" on GameStop stock.
Gill's current stake in GameStop is worth about $5.5 million between his stock and call options as of Friday.
Keith Gill, also known as Roaring Kitty on social media channels, is set to testify to Congress on Thursday. Gill gained a cult-like following after he invested $US53,000 in GameStop in 2019 and saw that value swell to as much as $US48 million. Read Gill’s opening statement to Congress below. […]
Both Citadel Securities and Robinhood are seeking changes to how stock trading works. Ken Griffin and Vlad Tenev both want settlement times to be cut to reduce risk. They say the current system added to the GameStop chaos at the end of January. Sign up here for our daily newsletter, […]
Keith Gill and the CEOs of Robinhood, Reddit, Melvin Capital, and Citadel are set to testify before Congress on Thursday about the GameStop saga.
Citadel's Ken Griffin and Robinhood's Vlad Tenev are among a handful of executives to be called to testify to Congress over the GameStop saga.
Keith Gill gained a following as he documented his "YOLO" trade in GameStop on Reddit's Wall Street Bets forum for more than a year.
Reddit day traders tried to beat Wall Street at its own game to prove that the system is rigged. Instead, brokerages locked them out and their holdings tanked, while some hedge funds still won big. Experts said Wall Street’s reaction showed just how stacked the deck is against small investors. […]
Some protesters vandalised Robinhood’s headquarters in Menlo Park, California, according to police. Robinhood security said people threw dog faeces and harassed its guards, Menlo Park PD told Insider. The protests, earlier reported by CNBC, targeted Robinhood’s response to the recent trading frenzy. Visit the Business section of Insider for more […]
Mohamed El-Erian said the Reddit-trader war on Wall Street has all the elements of the Arab Spring. “They coordinate leaderless, no leader at all. It works extremely well,” he said in an ABC News interview. Inequality of wealth, income, and opportunity were the main reasons behind retail investor fury, he […]
US markets currently seeing biggest ‘short squeeze’ in 25 years as hedge funds feel the pain. Day traders have driven up GameStop and others, costing short-sellers billions. Hedge funds have withdrawn from the market at the fastest rate since 2009, Goldman Sachs said. Sign up here for our daily newsletter, […]
MGM has bought the film rights to a book proposal about the ongoing Wall Street-GameStop saga. Deadline names the author as Ben Mezrich, whose past work was adapted into “The Social Network.” Mezrich said on Twitter that he was “born” to write the book, known as “The Antisocial Network.” Visit […]
Reddit’s now-famous WallStreetBets forum boasts some 6.2 million members, soaring from under 3 million a week ago. The subreddit has driven stocks like GameStop and AMC to record gains over the past few weeks after initiating a short-squeeze on institutional investors. Here are a few of the best quotes on […]
Jordan Belfort thinks it’s “gratifying” to see hedge funds losing billions of dollars. But ‘The Wolf of Wall Street’ told Sky News that he believes GameStop mania will be “short-lived.” Belfort urged small investors to tread carefully and only invest what they can afford to lose. Visit Business Insider’s homepage […]