Tag: gamestop
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How to find meme stocks like GameStop and AMC: Your complete guide to spotting and profiting from hot stocks on social media and Reddit’s Wall Street Bets
Meme stocks have been arguably the biggest market trend of 2021. KnowYourMeme Meme stocks like GameStop and AMC Entertainment have taken the investing world by storm in 2021. Small-time retail traders have banded together in a rebellion against Wall Street hedge funds. Insider regularly interviews experts who share how to spot meme stock surges. Below…
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ContextLogic jumps 22% as Redditors highlight it as a meme-stock play for the week
Mateusz Slodkowski/SOPA Images/LightRocket/Getty Images Mateusz Slodkowski/SOPA Images/LightRocket/Getty Images ContextLogic, the e-commerce company that conducts the Wish platform, rallied 22 percent Monday. The company was the top-hyped stock on Reddit investing threads such as Wall Street Bets. "Wish is that the play week," said one Redditor. See more information on Insider's business page. Shares of ContextLogic…
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Alaska’s GameStop stake soared over 700% last quarter – and its Tesla bet has gone from $0 to $85 million in 18 months
Alaskan sled dogs. Reuters/Nathaniel Wilder Alaska benefited from the GameStop buying frenzy in January.The state's GameStop holding surged more than 700% to $7 million last quarter.Alaska also owns over $85 million of Tesla stock, after eliminating its stake in 2019.See more stories on Insider's business page. There have been several surprising beneficiaries of the GameStop…
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A ‘more honest’ stock market
Hello friends, and welcome back to Week in Review! Last week, I talked about Clubhouse’s slowing user growth. Well, this week news broke that they had been in talks with Twitter for a $4 billion acquisition, so it looks like they’re still pretty desirable. This week, I’m talking about a story I published a couple…
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‘Big Short’ investor Michael Burry sold his GameStop stock last quarter, meaning he probably missed the Reddit rally
Michael Burry. Getty Images/ Astrid Stawiarz Michael Burry’s fund sold its 1.7 million GameStop shares before the buying frenzy.”The Big Short” investor potentially missed out on more than $750 million in profits.Burry’s Scion fund also exited Alphabet and Facebook, and bet on Kraft Heinz.Visit Business Insider’s homepage for more stories. Michael Burry cashed out his…
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Crypto boss Justin Sun is down $8 million on his GameStop bet – and reveals he told Warren Buffett to invest in Tesla and bitcoin
Warren Buffett and Justin Sun. Reuters Connect Justin Sun invested $12 million in GameStop, AMC, and silver during the meme-stock boom.The Tron chief’s $10 million bet on GameStop has slumped in value to about $2 million.Sun advised Warren Buffett to invest in Tesla and Bitcoin during their charity lunch.Visit Business Insider’s homepage for more stories.…
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Elon Musk tells his 44.8 million Twitter followers he’s stepping away from the platform ‘for a while’
Tesla's CEO Elon Musk. Hannibal Hanschke/Reuters Tesla and SpaceX CEO Elon Musk tweeted Tuesday that he was”off Twitter for a while.” Gamestop, Etsy, and a Japanese video-game manufacturer have all seen share gains following recent tweets in Musk. This is not the first time Musk has stated he is taking a Twitter breakdown. In addition,…
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The 4 Business Moguls Cheering For ‘The Little Guys’ In The GameStop Fiasco
Wall Street is still reeling after amateur investors poured money into stocks heavily shorted by multiple hedge funds. Many financiers were not thrilled about amateur investors’ discovery of speculative trading. Omega Advisors CEO Leon Cooperman told CNBC that GameStop traders “have no idea what they’re doing.” Though many wealthy Americans familiar with the financial markets…
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Amateurs beat Wall St pros at their own game
The GameStop incident has caught the attention of markets, regulators and governments worldwide. It has been a classic financial power tussle between a swarm of amateur traders and the influential hedge funds, in which the former emerged victorious. ET looks at what transpired:WHAT IS THE GAMESTOP EPISODE ALL ABOUT?It revolves around an NYSE listed video…
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‘Big Short’ investor Michael Burry says Tesla isn’t GameStop – and Wall Street Bets shouldn’t be taken down
"The Big Short" investor Michael Burry. Jim Spellman / Getty Images “The Big Short” investor Michael Burry brought a line between Tesla and GameStop on Wednesday.Burry, who’s shorting the automaker, flagged its reliance regulatory credits in an now-deleted tweet.The Scion Asset Management boss said shutting down Wall Street Bets would be incorrect, and called for…