Jump to content

Welcome to ExtremeHW

Welcome to ExtremeHW, like most online communities you must register to view or post in our community, but don't worry this is a simple free process that requires minimal information for you to signup. Be a part of ExtremeHW by signing in or creating an account.

  • Start new topics and reply to others
  • Subscribe to topics and forums to get email updates
  • Get your own profile page and make new friends
  • Send personal messages to other members.
  • Take advantage of site exclusive features.
IGNORED

Investors on Reddit have launched an attack that’s both trolling and serious on Wall Street firms by


UltraMega
 Share

Recommended Posts

Quote

Investors on Reddit have launched an attack that’s both trolling and serious on Wall Street firms by purchasing shares in GameStop, pushing the stock price up over 480% in a week, costing hedge funds millions of dollars, and skyrocketing young investors’ portfolios and egos.

 

Popular subreddit r/WallStreetBets (WSB), whose tagline is “Like 4chan found a Bloomberg Terminal,” has over 2 million members reading and posting “stonks” tips and news. Its biggest obsession in recent weeks has been raising the stock price of GameStop, the old-school video game mall retailer.

 

“They’re digitally doing it in a coordinated attack,” Howard Lindzon at Social Leverage, an early stage seed investment fund, told BuzzFeed News.

 

Lindzon thinks the investors chatting across Reddit — who tend to be millennial and Gen Z men — are just having a fun time causing trouble for hedge funds who’d bet on shares in the gaming retailer dropping. “They’re just playing a game,” he said. “And they’re having a blast.”

Source: https://www.buzzfeednews.com/article/amberjamieson/gamestop-reddit-stock-shares

 

On reddit they're saying they want to push it to $1000. This is super interesting to watch play out. 

Link to comment
Share on other sites

This is all over the news today. Stock trades are being halted. Pretty nuts. 

Here is some extra background info:

This is from yesterday

 

Then this is recent today:

 

GameStop stocks: US hedge fund pulls out after heavy losses (msn.com)

 

How GameStop’s Surge Caused the Stock Market to Drop | Barron's

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
 Share

×
×
  • Create New...

Important Information

This Website may place and access certain Cookies on your computer. ExtremeHW uses Cookies to improve your experience of using the Website and to improve our range of products and services. ExtremeHW has carefully chosen these Cookies and has taken steps to ensure that your privacy is protected and respected at all times. All Cookies used by this Website are used in accordance with current UK and EU Cookie Law. For more information please see our Privacy Policy