Two issues emerged from a congressional hearing on the volatile trading of GameStop Corp. shares: Lawmakers and regulators need a greater understanding of how technology helped foster the frenzy, and regulators need systems to understand such events — and possibly to manage them. House Financial Services members and witnesses spent most of their time at the hearing last…
Short sellers continue to lose money on betting against the company.
GameStop shares skyrocketed over 100 percent on Wednesday, while an announcement was made that CFO Jim Bell will resign at the end of March. NBC News’ Stephanie Ruhle reports on the latest information.
Shares of GameStop jumped again on Thursday and were halted several times as heavily shorted stocks favored by Reddit traders look set for a resurgence.
The stock market bull run last year paid handsomely, drawing in players from farmers to engineers to the laid off and desperate. Now comes the hangover.
CEO Tenev tells House committee quicker trade settlements would prevent a repeat.
The frenzy over GameStop stock sparked outrage when the investing app Robinhood stopped some trading after Reddit users took on major investors trying to profit off the struggling video game retailer.
The US House Committee on Financial Services will hold a hearing Thursday, seeking explanations about GameStop’s stock volatility.
The Justice Department is looking into potential market manipulation regarding the rapid rise of GameStop’s stock price last month. Over the course of a few weeks, Redditors on the WallStreetBets subreddit mobilized and drove the price of GameStop shares up more than 5,000%. Redditors took advantage of the fact that hedge funds had unusually large…
GameStop shares headed for a second straight day of gains early Monday as Reddit’s favorite stock tried to rebound from a massive weekly loss. The video-game retailer’s stock price climbed about 11 percent in premarket trading to $70.83 as of 7:28 a.m., building on Friday’s 19 percent rise. But those gains left GameStop far from…