The Justice Department is looking into potential market manipulation regarding the rapid rise of GameStop’s stock price last month. Over the course of a few weeks, Redditors on the WallStreetBets subreddit mobilized and drove the price of GameStop shares up more than 5,000%. Redditors took advantage of the fact that hedge funds had unusually large …
The Reddit r/WallStreetBets community captivated the investment community for days last month, when it helped send the share price of GameStop soaring some 5,000%. That’s led to book and movie deals about the story of these amateur investors who burned Wall Street professionals. Now, one hedge fund has posted a job listing that seems tailor-made …
The Reddit-fueled rise of GameStop shares in January made many individual investors incredibly rich. Wall Street investors also took advantage of GameStop’s meteoric rise and its subsequent sharp decline. Many Wall Street firms actively monitor social media chatter on Reddit to stay abreast of what retail investors are up to. Over the course of a …
Reddit’s Super Bowl ad was one of the most memorable commercials during the Super Bowl on Sunday, based in part on the fact that it was only 5 seconds long. The ad started off pretending to be an SUV commercial before switching to a text-based spot that would have to be paused to be fully …
The GameStop stock price reached almost $500 in premarket trading on Thursday, a significant increase from Wednesday’s close of $347.51 that indicates the Reddit vs. Wall Street battle will continue for at least a few more days. Wall Street firms are already playing the victims, attempting to explain the GME short squeeze and what’s been …
GameStop stock surged in premarket trading on Monday, topping $100. The stock was quick to surpass $150 as soon as trading started, more than double Friday’s $65 close. GME has been popular with retail investors for months, even though the stock was being shorted by most professionals in the business. The news that Chewy’s co-founder and …
It strikes me as a little ironic that, just one day after Reddit CEO Steve Huffman’s broadside about TikTok being “fundamentally parasitic,” it sparked at least one massive Reddit thread so intense and even packed with criticism of Huffman’s leadership that said thread is now locked and closed-off to new comments. Huffman, who’s also a …
DC actually beat out Marvel (and, specifically, Avengers: Endgame) on at least one 2019 year-end best-of list, a list that surprisingly wasn’t dominated by this year’s Avengers film which quickly became the biggest box office success of all time. Reddit teamed up with analytics firm Brandwatch to reveal its rundown of the most talked-about movies …
What better way to start off the week than by not being able to use virtually any online service or access half of the internet’s most popular sites? That seems to be the case, as DownDetector (and many tweets) suggest that Google, Amazon, Reddit, and Spectrum — just to name a few — are experiencing …
Reddit has disclosed a security incident it’s described as a “serious attack,” which it has been investigating for more than a month which the company says entailed a hacker breaking into some of its system and accessing user data. That data included some current email addresses, as well as an old database backup that contained salted …
