What started the GameStop frenzy?

How a Reddit User Called ‘Roaring Kitty’ and His Friends Roiled the Markets: A Massachusetts man who goes by “Roaring Kitty” on social media helped fuel the frenzy around GameStop. His $53,000 investment in the company briefly reached $48 million in value.

Why did GameStop Spike?

The GameStop surge is making headlines because it’s being driven by retail investors — individuals who buy and sell stocks for their own gains, as opposed to professional investors working on Wall Street — on the subreddit r/WallStreetBets (WSB), a community 2.9 million-strong that refers to members as “degenerates” …

Did GameStop make any money?

In Q1, GameStop’s sales were up 25% to $1.3 billion as it chased e-commerce growth. GameStop also announced that it is closing 12% of its brick-and-mortar stores in the current quarter to reduce costs. As of March 31, it has over $770.8 million cash on hand, up from $583.9 million a year prior.

Why is GameStop rallying again?

There is no clear catalyst for the move, but the stock continues to enjoy strong interest on WallStreetBets, and it looks that the recent upside move was triggered by interest from retail traders. The previous rally took place back in late May – early June, and the stock made an attempt to settle above $345.

Was the GameStop stock illegal?

The Securities and Exchange Commission charged two traders with engaging in illegal so-called wash trading of meme stocks, including GameStop Inc., in an alleged scheme that netted them hundreds of thousands of dollars in ill-gotten rebates from a number of stock brokers.

Who profited most from GameStop?

A young man who profited off of the recent GameStop surge is using his financial gain to give back to his local children’s hospital. 20-year-old Hunter Kahn made big bucks when small independent investors flipped the script on big-time Wall Street professionals with an unprecedented stock surge of GameStop last week.

Is GameStop a Fortune 500?

There’s no better example than GameStop. When the 2021 edition of the Fortune 500, a ranking of the 500 largest U.S. publicly traded companies by revenue, was published last week, it did not have GameStop on it. That marked the end of GameStop’s 14-year streak on the list—including a No. 464 placement last year.

Is BlackBerry in a short squeeze?

Year-over-year, BlackBerry stock still boasts a 91.4% lead. Plus, the equity looks ripe for a short squeeze, as the 39.11 million shares sold short still make up 7% of BB’s available float, despite short interest falling 16.7% during the most recent reporting period.

Who loses in short selling?

The person losing is the one from whom the short seller buys back the stock, provided that person bought the stock at higher price. So if B borrowed from A(lender) and sold it to C, and later B purchased it back from C at a lower price, then B made profit, C made loss and A made nothing .

What does it mean to be a plebeian?

Plebeian: belonging to the class of people of low social or economic rank. Synonyms: baseborn, common, humble… Antonyms: aristocratic, blue-blooded, genteel…

What is the difference between plebeians and nobiles?

By the early empire, the word was used to refer to people who were not senators (of the empire or of the local municipalities) or equestrians. The average plebeian did not come into a wealthy family; the politically active nobiles as a whole comprised a very small portion of the whole population.

Who were the plebs in ancient Rome?

The plebs were, in ancient Rome, the general body of free Roman citizens who were not patricians, as determined by the census. The precise origins of the group and the term are unclear, though it may be that they began as a limited political movement in opposition to the elite (patricians) which became more widely applied.

What are the best books about the Roman plebs?

From the Patrician State to the Patricio-Plebeian State. Amsterdam: A.M. Hakkert. Horsfall, Nicholas (2003). The Culture of the Roman Plebs. London: Duckworth. Millar, Fergus (2002). The Crowd In Rome In the Late Republic.