Tagged: gamestop

Tim Frost: CEO at YIELD App Reveals how Algorithmic Stablecoins Provide Censorship-Resistant Financial Services, Comments on other Fintech Developments

Tim Frost, CEO at YIELD App, which is a comprehensive Fintech app offering a wide range of DeFi services and new investment strategies, has shared his views and insights regarding the recent trading frenzy that was initiated by a group of armchair investors via Reddit… Read More

Perspective: What Can Investors Learn From The GameStop Saga?

Social media-hyped stocks took a beating on 18th February, with shares of game retailer GameStop (NYSE:GME) closing at around $40. The share price dove from an all-time high of $483 earlier this month, ending a wild ride for amateur investors still holding their position. The… Read More

S&P: Short Interest in US Stocks Drop Following Gamestop/Reddit Drama

The attack of the retail investor targeting highly shorted stocks is causing institutional money to exit short positions, according to a report by S&P Global Market Intelligence. As has been widely reported, certain subreddits helped fuel trading in shorted shares where retail investors purchased stakes… Read More

Digital Investment Platform Robinhood to Enable Deposits and Withdrawals for Bitcoin and Other Cryptocurrencies

Digital investment platform Robinhood stated on Wednesday (February 17, 2021) that it is planning to give its clients the option to deposit and withdraw digital currencies, including the “meme crypto” Dogecoin (DOGE). The stock trading app has become really popular with younger Millennial and Gen… Read More

Gamestop – Robinhood Testimony Out as House Committee on Financial Services Preps for First of Three Hearings

The House Committee on Financial Services will hold the first of three hearings on the Gamestop – Robinhood saga that saw hedge fund short sellers compelled to sell positions in a short squeeze driven by collaborative trading that was organized on Reddit. Entitled, “Game Stopped?… Read More

GameStop and DeFi: Let’s Not Be So Quick To Judge

Fellow DeFi adherents, let’s slow down on the outrage about GameStop (NYSE:GME) and the traditional finance system (TradFi).   Blockchain and DeFi offer lots of advantages over TradFi, but TradFi is not completely broken and DeFi is not necessarily vastly superior.  Two core characteristics make… Read More

House Committee on Financial Services Hearing to Include Robinhood CEO, Reddit Co-Founder and More

The House Committee on Financial Services, Chaired by Maxine Waters, has announced the witnesses on the forthcoming hearing entitled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide.” Witnesses include: Vlad Tenev, Chief Executive Officer, Robinhood Markets, Inc. Steve Huffman, Chief Executive… Read More

Robinhood App Downloaded Over 1 Million Times this Past Week, Could have been “Best” and “Worst” Week for Company, Analyst Says

This past week could have just been one of the worst weeks in Robinhood’s 8-year history, however, it also might have been one of the best in some ways. According to estimates, the private firm’s app was downloaded over 1 million times from this past… Read More

Bitcoin Dominated Crypto Markets May Provide Better Alternative than Outdated Legacy Financial System: Report

The team at Blockchain.com, a leading crypto wallet service, block explorer, and trading platform notes that Vladimir Ilyich Lenin (the Russian revolutionary who founded the Soviet Union) had said that there are “decades where nothing happens; and there are weeks where decades happen.” Blockchain.com writes… Read More

More than 30 Lawsuits Now Filed Against Stock Trading App Provider Robinhood Markets Inc., Suits Allege Company Is Manipulating Markets

Digital investment platform Robinhood is reportedly facing around 30 different lawsuits from traders for shutting down or not supporting GameStop trading. Several groups of Robinhood‘s clients have filed lawsuits against the stock trading service provider. Lawsuits have alleged the firm violated certain laws by imposing… Read More

SEC Is Reviewing Social Media Posts, Agency Is Looking for Potential Fraud due to Activities tied to WallStreetBets, GameStop

The US Securities and Exchange Commission (SEC) has been carefully reviewing social media posts, as the federal regulator is looking out for any signs of potential fraud, which may have increased due to the frenzied trading of GameStop and other firms’ shares. The SEC‘s probe… Read More

Monetary Authority of Singapore Warns Public about Serious Risks of Trading in Securities Incited by Social Media Groups

The Monetary Authority of Singapore (MAS), the nation’s central bank and financial regulator, and the Singapore Exchange Regulation (SGX RegCo) have asked the general public to be on alert to the potential risks that may be involved in trading in securities incited by online discussion… Read More

SEC Acting Chair Allison Herren Lee Says Federal Regulator Will be Carefully Investigating the Reddit “Takeover” of Wall Street

NPR’s Ailsa Chang recently covered the US Securities and Exchange Commission’s (SEC) expected role in conducting an investigation into the Reddit / social media takeover of Wall Street. SEC Acting Chair Allison Herren Lee commented on the agency’s role in looking into the matter. The… Read More

US House Committee on Financial Services Schedules Hearing on Gamestop Trading, Market Volatility

Representative Maxine Waters, Chairwoman of the House Committee on Financial Services, has scheduled a hearing to address the trading in Gamestop shares as well as the broader issue of market volatility. The hearing, entitled “Game Stopped? Who Wins and Loses When Short Sellers, Social Media,… Read More

A New Sheriff in Town: Robinhood Raises $3.4 Billion in Capital from Big Names, Meanwhile, Short Funds Look Over Their Shoulders

Robinhood has raised $3.4 billion in capital from Ribbit Capital, CONIQ Capital, Andreessen Horowitz, Sequoia, Index Ventures, and NEA. The additional funding is a solid sign of commitment by investors as Robinhood struggles in light of heightened volatility of shares like Gamestop driven by Reddit… Read More

Gamestop Short Sellers Losing Billions: Report

On January 26th, S3 Partners reported that GameStop (NYSE:GME) short-sellers were down around $5 billion. In just a few days, that amount may have grown a bit larger. According to the blog post by S3: “GME short interest is $5.51 billion; 71.79 million shares shorted;… Read More

Robinhood Allows Users to Trade in GameStop, Shares Rise While Chattering Class Points Fingers

Robinhood CEO and founder Vlad Tenev visited with CNBC last night professing that actions taken to mitigate trading in GameStop (NYSE:GME) was to protect Robinhood as well as its users. Tenev’s decision to shut down purchases of GME was joined by outrage, not just by… Read More

As Criticism of Robinhood Rises, Investment Platform Says it Will Allow “Limited” Buys of Volatile Securities Like GameStop

Robinhood is retreating a bit in its decision to curtail trading in shares of GameStop and other securities like AMC Entertainment that have been the focus of traders communicating on Reddit. The investment Fintech has just announced it will allow limited buys in these volatile… Read More

Never Waste a Crisis: Incoming Chairman of Senate Banking Committee to Hold Hearing on GameStop – Reddit Phenomenon

  Senator Sherrod Brown, the incoming Chairman of the Senate Banking Committee, will be holding a hearing on the GameStop – Reddit phenomenon, according to a tweet. Senator Brown said it was time for the SEC and Congress to make the economy work for everyone… Read More

Robinhood Got You Down? Digital Asset Exchange Bittrex Lists GME and AMC Tokens for Trading

As was previously reported, Robinhood has restricted trading on Gamestop (NYSE:GME), AMC Entertainment (NYSE:AMC), and other securities being targeted by Reddit traders. The move was designed to quell the excessive volatility and rapid price rise in shares that have been targeted by hedge funds with… Read More

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