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Reddit says it has filed with SEC to go public

ABS-CBN News
Posted at Dec 16 02:16 PM

Social media platform Reddit said Wednesday it has confidentially submitted a draft registration with the US Securities and Exchange Commission to go public on Wall Street. Read more »

GameStop ends up 7.3pct after wild swings, other 'meme stocks' soar

Saqib Iqbal Ahmed and Sinéad Carew, Reuters
Posted at Mar 11 09:08 AM

GameStop ended 7.3 percent higher on Wednesday after wild gyrations in the resurgent rally that has vaulted shares of the video game retailer and other so-called meme stocks closer to the peaks of late January.   Read more »

GameStop shares soar as 'meme stocks' rally again

Aaron Saldanha, Thyagaraju Adinarayan and David Randall, Reuters
Posted at Feb 26 04:02 AM

GameStop Corp shares soared again on Thursday after doubling in the previous session, triggering a series of NYSE trading halts and leading a surprise resurgence of so-called "stonks" championed by passionate retail investors on various online forums.   Read more »

GameStop CFO to step down after Reddit driven stock rally

Jessica DiNapoli and Subrat Patnaik, Reuters
Posted at Feb 24 08:11 AM

GameStop Chief Financial Officer Jim Bell will step down next month, the video game retailer said on Tuesday, as it focuses on shifting into technology-driven sales in the wake of headline-grabbing big betting in its stock. Read more »

GameStop key players tell US lawmakers no manipulation

ABS-CBN News
Posted at Feb 19 08:20 AM

Key players involved in the trading frenzy centered on GameStop shares told skeptical US lawmakers on Thursday that their actions were above board and in line with ordinary stock market business. Read more »

'Roaring Kitty,' MassMutual hit with lawsuit ahead of GameStop hearing

Tom Hals, Reuters
Posted at Feb 18 09:17 PM

The social media persona “Roaring Kitty”, who became a key player in last month’s frenzied rally in shares of GameStop Corp, is facing a lawsuit alleging he violated securities laws and caused “huge losses” for investors, just a day before he is set to testify before U.S. lawmakers. Read more »

Robinhood, hedge fund manager defend Gamestop moves ahead of hearing

Pete Schroeder, Reuters
Posted at Feb 18 09:09 AM

A Wall Street hedge fund manager, the chief executive of Robinhood and a YouTube streamer known as "Roaring Kitty" laid out their defense on Wednesday ahead of a grilling by lawmakers over the Reddit-fueled rally in retailer GameStop Corp. Read more »

As Gamestop frenzy wanes, analyst warns of 'fake moves' by retail traders

ABS-CBN News
Updated as of Feb 15 06:01 PM

It is dangerous to trade speculative shares as prices tend to "always go back to the mean" and investors might get trapped when this happens, an analyst warned. Read more »

Silver, gold seen sustaining performance for 3-5 more years

ABS-CBN News
Posted at Feb 09 02:44 PM

Precious metals such as silver and gold may continue to perform well for another 3 to 5 years as investors flock to safe haven assets during the pandemic, a dealer said Tuesday.   Read more »

GameStop, 'Reddit rally' stocks slide more, Yellen vows scrutiny

Tom Westbrook and Susan Mathew, Reuters
Posted at Feb 05 08:47 AM

Shares of GameStop Corp and others favored recently by retail investors fell further on Thursday, while US Treasury Secretary Janet Yellen said she needed to "understand deeply" the trading frenzy that has gripped Wall Street. Read more »

Can GameStop squeeze also happen in PH? Is it a bad thing? Analysts give their take

ABS-CBN News
Posted at Feb 03 07:34 PM

An analyst said this also happens in the country, even without short selling.  Read more »

Regulators to meet as brokers call time on Reddit-trader rollercoaster

Reuters
Posted at Feb 03 04:06 PM

Hedge funds, small investors and their stockbrokers are bracing for tougher US markets regulation, with officials expected to meet this week to assess the fallout from a social-media driven trading frenzy that has roiled stocks and silver prices.   Read more »

The long and short of it: GameStop and other market squeezes

Sujata Rao, Reuters
Posted at Feb 03 06:32 AM

Short trading involves borrowing shares and selling them on with the aim of buying them back later more cheaply and pocketing the difference. But it can be a risky bet.   Read more »

GameStop saga may provide early test of Biden administration ethics pledges

Trevor Hunnicutt and David Lawder, Reuters
Posted at Feb 02 09:41 AM

Arguably the last thing new US Treasury Secretary Janet Yellen wants to take up during her first days in office is a financial market imbroglio involving one of her last private sector business relationships. Read more »

Silver swept up by GameStop retail frenzy

Tom Westbrook and Thyagaraju Adinarayan, Reuters
Posted at Feb 01 10:07 PM

SINGAPORE - Silver broke above $30 an ounce for the first time since 2013 on Monday as an army of retail traders stormed into the metal after betting billions of dollars on stocks last week, triggering risks of a multi-asset melt-up in global markets. Read more »

GameStop: Two US senators call for Wall Street reform

Agence France-Presse
Updated as of Feb 01 09:19 AM

Amateur investors who organized over Reddit and other online forums have in recent days targeted shares of companies including GameStop that had been "short-sold" by hedge funds in a bet that the price of the shares would fall.    Read more »

Facebook shuts stock trading group after GameStop frenzy

Paresh Dave, Reuters
Posted at Jan 29 11:23 PM

Facebook Inc took down a popular Wall Street discussion group, Robinhood Stock Traders, in a move its founder said was an unjustified response to conversations that have buoyed shares in GameStop Corp and other companies. Read more »

GameStop back on the rise as Robinhood eases trading ban

Sagarika Jaisinghani and Medha Singh, Reuters
Posted at Jan 29 09:59 PM

The army of small investors behind this week's dramatic squeeze on Wall Street hedge funds returned to drive shares in GameStop and other hot companies higher on Friday as online broker Robinhood eased disputed trading restrictions. Read more »

Reddit users say GameStop rocket is revenge of the masses

Glenn Chapman, Agence France-Presse
Posted at Jan 29 04:49 PM

For some Reddit users, GameStop's dizzying rocket ride on Wall Street is a case of the masses rebelling against one-percenters hoarding the world's wealth.   Read more »

'We love this stock': GameStop effect spreads as calls for probe build

Sagarika Jaisinghani and Shriya Ramakrishnan, Reuters
Posted at Jan 28 10:48 PM

The battle between small-time traders and hedge funds that has shaken US and European stock markets moved into Asia on Thursday, with surges in several Australian companies joining a list of social-media hyped moves that have cost financial institutions billions of dollars. Read more »