GameStop short squeeze fuels new stock-market services tracking Reddit messages MarketWatch 2/6/2021
MARKET EXTRA
Day traders are credited with sparking a revolution on Wall Street, helping to juice the shares of GameStop Corp. and AMC Entertainment Holdings and rattling the foundation of segments of the hedge-fund industry in the process.
Now, a group of data providers are wagering that financial markets will never be the same again and that deep-pocketed investors will shell out big bucks to monitor discussions on message boards like Reddit’s r/wallstreetbets and social-media platforms like Discord for mentions of publicly traded companies.
“ We believe this is a kind of watershed moment and perhaps irreversible,” Boris Spiwak, director of marketing at alternative data company Thinknum told MarketWatch in a Monday interview. Thinknum’s plans were mentioned in a Barrron’s article over the weekend.
âBoomers no longer control the market,â says 16yo Reddit trader
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A Melbourne high school student and active member of the notorious WallStreetBets social media forum has lashed Robinhoodâs decision to restrict trading activity by its customers, but experts say Australiaâs market integrity rules would prevent it ever coming to that.
Dan Tadmore, 16, joined the Reddit forum WallStreetBets in April last year, shortly after Victorian Premier Daniel Andrews brought forward school holidays amid the escalating pandemic.
Dan Tadmore is a 16 year old year 11 student at an elite private school and has been a member of the notorious Wallstreetbets Reddit forum for 9 months. âBoomers no longer control the market,â² he says.Â
Stocks in Europe, Dow futures slump as hedge funds retreat in wake of GameStop-led frenzy MarketWatch 1/28/2021
EUROPE MARKETS
European stocks slumped on Thursday, feeling the pressure from a wild day on Wall Street in which major funds took positions off the table so that they didn’t get burned by a band of retail investors punishing short sellers.
Down 1.2% on Wednesday, the Stoxx Europe 600 traded 1% lower. Microchip equipment maker ASML Holding a component of the Nasdaq-100, dropped in Amsterdam trade, and drug company Roche fell in Zurich action.
U.S. stock futures were pointing to opening declines again on Thursday, though not as steep as the 633-point nosedive for the Dow Jones Industrial Average on Wednesday. U.S. markets were also absorbing cautious commentary from social-media giant Facebook and worse-than-expected results from electric vehicle maker Tesla.
Stocks in Europe, Dow futures slump as hedge funds retreat in wake of GameStop-led frenzy MarketWatch 1/28/2021
EUROPE MARKETS
European stocks slumped on Thursday, feeling the pressure from a wild day on Wall Street in which major funds took positions off the table so that they didn’t get burned by a band of retail investors punishing short sellers.
Down 1.2% on Wednesday, the Stoxx Europe 600 traded 1% lower. Microchip equipment maker ASML Holding a component of the Nasdaq-100, dropped in Amsterdam trade, and drug company Roche fell in Zurich action.
U.S. stock futures were pointing to opening declines again on Thursday, though not as steep as the 633-point nosedive for the Dow Jones Industrial Average on Wednesday. U.S. markets were also absorbing cautious commentary from social-media giant Facebook and worse-than-expected results from electric vehicle maker Tesla.
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