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Print Credit Acceptance founder Donald Foss (center) was inducted into the NABD Buy Here Pay Here Hall of Fame in 2015. As Reddit users and day traders continue to pump up the stock price of video game retailer GameStop Corp. (NYSE: GME), Southeast Michigan billionaire Donald Foss has emerged as one of the clear winners in the now days-long boom. Foss, 76, was the founder of Southfield-based subprime auto lender Credit Acceptance Corp. (NASDAQ: CACC) and retired in 2017. A regulatory filing shows that on Feb. 28 Foss acquired just over 3.5 million shares of GameStop on a day when the stock cl...

GameStop's steep rally lives another day as shorts give up Paul Jarvis, Bloomberg News VIDEO SIGN OUT GameStop Corp. had the biggest day yet of its dizzying rally, adding more than US$10 billion in market value, as bullish day traders kept the upper hand over short sellers. The shares advanced 135 per cent to US$347.51 at the close Wednesday after triggering three volatility halts. The video-game retailer’s market value has risen more than 18 times this month to about US$24 billion, making GameStop bigger than almost half of the companies in the S&P 500 Index. Euphoria born in da...

4 Min Read NEW YORK (Reuters) - Stocks fell around the world on Wednesday as investors turned more cautious over stretched valuations and the economic impact of the COVID-19 pandemic, while the dollar rose on its safe-haven appeal. FILE PHOTO: Pump jacks operate in front of a drilling rig in an oil field in Midland, Texas U.S. August 22, 2018. REUTERS/Nick Oxford Oil prices were little changed as demand concerns were mostly offset by a large drop in U.S. crude inventories. Stocks in the United States added to losses after the Federal Reserve left its key rate near zero and made no change to ...

GameStop's steep rally lives another day as shorts give up Paul Jarvis, Bloomberg News VIDEO SIGN OUT GameStop Corp. had the biggest day yet of its dizzying rally, adding more than US$10 billion in market value, as bullish day traders kept the upper hand over short sellers. The shares advanced 135 per cent to US$347.51 at the close Wednesday after triggering three volatility halts. The video-game retailer’s market value has risen more than 18 times this month to about US$24 billion, making GameStop bigger than almost half of the companies in the S&P 500 Index. Euphoria born in da...

Reddit’s r/wallstreetbets forum is minting small fortunes for retail traders who get in and out of the favoured names at the right time.