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GameStop shares ended trading on Monday down 11% at $141.04, giving the company a market value of about $10 billion. The stock hit a record high of $483 in late January

GameStop jumps more than 40%, other 'meme stocks' rally on stimulus hopes
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Last Updated: Mar 09, 2021, 07:36 AM IST
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GameStop tapped shareholder and Chewy co-founder Ryan Cohen to spearhead a new committee to help the video game retail chain's transition to e-commerce.
Reuters
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Shares of GameStop jumped more than 40% on Monday and other so-called meme stocks rallied, lifted by news from the video game retailer and expectations that investors may plow funds from coming stimulus checks into the equity market.
GameStop shares last traded up 41.2% at $194.50, their highest closing level since Feb. 1, after the company tapped shareholder and Chewy co-founder Ryan Cohen to spearhead a new committee to help the video game retail chain's transition to e-commerce. The stock was up as much as 53% at the session high.

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GameStop, the American video game retailer, became the unexpected target for collective investor rebellion in recent weeks. In short, large institutional investors and hedge funds in recent months and years bet against GameStop's share price (known as shorting) in a bid to make a profit.

10 Police Reports In 11 Days: Robinhood's Offices Attacked By Angry Clients
02/11/21 AT 5:55 PM
Day trading app Robinhood has seen its offices face turmoil, as former clients gather to close accounts, withdraw money or even attack the building. The commotion comes as the Menlo Park, California-based company faces numerous lawsuits for freezing accounts during Gamestop's Reddit-fueled stock heights and as the government opens investigations into the company.
An inquiry by CNBC found 10 police reports between Jan. 28 and Feb. 9. They ranged from people trying to close accounts or contact customer service to men throwing animal feces at the door or trying to saw off part of the office’s outdoor statue. 

Analysts who cover GameStock see it worth on average $13.44 per share, a 78% drop from its current trading price

February 3, 2021
Lawmakers to look into 'who wins and loses when short sellers, social media, and retail investors collide.'
SHOW TRANSCRIPT
The GameStop trading frenzy quickly captured the world’s attention, and theories abound as to what exactly led to this moment. But it’s still not clear how the Reddit Revolution is going to end.
"The whole thing started because somebody disagreed with the sell-side research and 'prevailing wisdom,'" said Mark Abssy, head of indexing at Tematica Research. 
Days after the short squeeze took off, the founder of Citron Research announced his firm would stop publishing research on companies it believes are overvalued. In the same way you can make money when a stock goes up, you can profit when a stock goes down — also known as short selling.

Reddit's WallStreetBets Group Goes Rogue After Wild Week Of Trading
01/28/21 AT 2:46 PM
Social media comments and conversations on popular Reddit boards like WallStreetBets are helping to drive up the price of stocks that have been mostly shrugged off by top analysts. The online social phenomenon is somewhat reminiscent of the Occupy Wall Street movement as it catches the trading world by storm.
Similar to the Occupy Wall Street movement against corporate greed in the 2010s, Reddit users are using the trade phenomenon as a rallying cry of sorts. Big investment firms place bets on companies like GameStop that underperform using a so-called short trade. That’s a bet at a higher price that the stock will eventually decline, giving traders a reward from the difference. So-called retail investors, however, are using GameStop as a sort of protest against the established norm, refusing to sell and egging others to buy or hold their stocks out of defiance.

US Representative Alexandria Ocasio-Cortez said that House inquiries into freezes should not be limited to Robinhood and that the committee should