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Speculative Trading Unnerving the Market The market plummeted on Wednesday, with the S&P 500 and the Dow recording their biggest one-day losses since October, driven lower by speculative buying in heavily shorted stocks like GameStop. There is now concern that hedge funds under pressure to cover short positions could have to limit their equity holdings to raise cash. Some see this scenario leading to a bubble in the market. GameStop, the conventional video game retailer, has been a favorite on the WallStreetBets Reddit chat room, as investors have successfully driven the stock over 300% highe...

January 28, 2021 Stocks and index ETFs are recovering from their biggest one-day losses since October on Wednesday, driven lower by speculative buying in heavily shorted stocks like GameStop. GameStop has been a favorite on the WallStreetBets Reddit chat room, as investors have successfully driven the stock over 300% higher. On Wednesday, the surging stock sank over 20% in a Bitcoin-like display which included multiple trading halts. The stock started tumbling as rumors of broker restrictions began to spread, with outfits like Interactive Brokers and Robinhood curbing transactions for hea...

A Feeding Frenzy: GameStop Pulling These ETFs Along for the Ride January 27, 2021 The buying frenzy in GameStop Corp. (NYSE: GME) has lifted a number of sector and thematic exchange traded funds. Among the best performing non-leveraged ETFs of Wednesday, Wedbush ETFMG Video Game Tech ETF (NYSEARCA: GAMR), which tracks global companies engaged in supporting or utilizing the video gaming industry, advanced 15.1%. The Meanwhile, GameStop shares climbed 112% on Wednesday. GME makes up 13.6% of GAMR’s underlying portfolio and 9.5% of XRT. The recent gains in GameStop has caused a sizeable s...

The Floss Turns 5: Following EPAM’s Epic Journey with Epic Games EPAM Systems and Epic Games are celebrating five years as partners as they continue to improve Fortnite together. The software engineering pioneers at EPAM help make Epic’s battle royale and other Epic Games projects possible, focusing on seven major areas: online services, big data/analytics, the player support portal, game infrastructure, security, player engagement tools, and testing. With Epic Games continuing to lead the battle royale charge with Fortnite going into another year, it looks like EPAM will continue to be p...

Take the last console cycle in 2013. Launched days before Black Friday, Microsoft Corporation’s (NASDAQ:MSFT) Xbox One and Sony Corp’s (NYSE:SNE) PlayStation 4 combined to sell over 4 million units in the first three and a half weeks—a nearly $2 billion record haul 1. And though demand is through the roof this time around, the story of the Xbox Series X and PlayStation 5 launches has instead been one of limited supply.  Strong pre-order sales and supply chain bottlenecks—both a direct result of the pandemic—has resulted in massive shortages that have left retailers and manufactur...