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Robinhood, Reddit App Downloads Surge as Investors Take on Wall Street
On 1/29/21 at 10:19 AM EST
The mobile apps for stock trading service Robinhood and the messageboard website Reddit surged this week as amateur investors on the platforms shook Wall Street by pouring money into companies in the crosshairs of short sellers.
As U.S. hedge funds continued to face an army of Redditors from the r/WallStreetBets community on Thursday, statistics released by Apptopia, Inc. suggested that at least some companies at the center of the storm were benefiting from the attention.
On January 27, GameStop closed at $347.51 per share, which was up 134 percent from the day prior. Late last December, the stock price was around $18. ....

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