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Articles from the tag: stock market

Articles from the tag: stock market

Her tale of boom and bust begins with a little boy. "It's interesting to watch stocks grow and watch them fall," said Jaydyn Carr, a fifth grader who made a 5,000% profit on stock in the video game retailer GameStop. His mother bought him the stock as a Kwanzaa present before it rose in price so dramatically. "One of the biggest things you're going see here is how everybody got swept up in this," Jarvis said. They were swept up in the big increase that Wall Street hedge funds were betting would fall. In the parlance of the financial world, they were short selling GameStop.

If you have been paying any attention to the news over the past few weeks, you may have heard of the exponential rise and the equally dramatic drop in the share price of video game retailer GameStop (GME) and other "meme" stocks — those favored by millennials — like  AMC Theaters. The two-week frenzy, which pitted individual amateur investors against seasoned professionals — and resulted in a Congressional inquiry— began rather innocently in an online community on Reddit.

Why Retirement Savers Should Ignore the Robinhood Hubbub Long-term investors with diversified nest eggs have little to fear from the GameStop saga by John Waggoner, AARP, February 4, 2021 | Comments: NurPhoto / Getty Images En español | A group of small investors who frequented an internet chat board produced mammoth gains in GameStop stock in recent days, while saddling big Wall Street players with elephantine losses. In the fallout, the popular stock-trading app Robinhood and several hedge funds are reeling, even as some of the GameStop investors have moved on to other targets ...