stocks
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Toronto-based online brokerage Wealthsimple, which can count Drake among its celebrity investors, has raised $610 million in fundraising with a $4 billion evaluation. Business Insider reports that the Power Corporation of Canada company’s latest round of funding was led by Meritech Capital Partners and Greylock Partners. The funding and valuation were announced on Monday. Wealthsimple […]
In 2019, while 61 percent of white households owned stock, only 33.5 percent of Black households owned stock. And while minority stock ownership narrowed between 2016 and 2019, according to the Associated Press, the COVID-19 pandemic and acute recession have “widened the gap again.” In addition to the disparities between Black and white stock owners, […]
It was a good day for GameStop and an even better day for WallStreetBets. Shares of the video game retailer was priced at $91.71 at market close on Wednesday, marking a near 104 percent increase from the previous day. According to CNN Business, the spike occurred in the final hour of trading, prompting the New York Stock Exchange to halt […]
The parents of 20-year-old Alex Kearns have filed a lawsuit against the stock-trading app Robinhood, alleging that it caused the wrongful death of their son. Last June Alex died by suicide, with it being reported that he had a negative balance of $730,000 on the app, which his parents say made him falsely belief he […]
Say what you will about Reddit, it’s a hell of an organizing tool. The website has proven that time and time again this month. The first time came when it briefly put a hurting on hedge funds via an organized short squeeze on GameStop stock. The second time came during the Super Bowl, when Reddit let […]
HBO is working on a scripted film about GameStop and the recent mayhem it caused Wall Street. Per Variety, the film is focused on exploring “how a populist uprising of social media day traders beat Wall Street at their own game.” It will show how Reddit day traders sparked a stock market fire by using GameStop to […]
Jordan Belfort, the author of The Wolf of Wall Street who was quite famously portrayed by Leonardo DiCaprio in the classic Scorsese film of the same name, has more to say about the controversy surrounding Robinhood and Reddit-fueled stock surges. The former broker (and present-day motivational speaker) spoke with Yahoo Finance this week and was asked […]
The country’s top financial regulator says it’s closely reviewing “the extreme price volatility” of certain stock prices over the past several days. It has also reassured the public that officials are ready to take action if they determine market manipulation was at play. The U.S. Securities and Exchange Commission made the announcement Friday, in wake of the Reddit-fueled stock surges that […]
As GameStop experienced an unprecedented surge in its stocks, largely due to Reddit users rallying behind the near-bankrupt company, the entire event created a huge moment in the ongoing battle between hedge funds and individual investors. What came of it, besides Wall Street trying to silence common investors to keep their pockets safe, was a […]
GameStop, a company that was expected to close hundreds of stores in 2021, has made a stunning comeback in the stock market. And it’s all thanks to an army of Reddit users who were gutsy enough to take on big Wall Street. According to CNBC, GameStop’s share price went from under $20 at the beginning of the […]
