Daniel Lacalle, in his GameStop article [“GameStop Is Not the Revenge on Wall Street,” published Feb. 3], failed to address the fact that Robinhood decided to stop the actions of the stock. Hmm, wonder who pressured them? Maybe big-money investors who would underwrite Robinhood’s expansion? Let’s be honest. Hedge funds are not foolproof savants of…
Exchange Repeatedly Halts Gamestop Trading as Price Surges Past $100
The New York Stock Exchange repeatedly halted trading in the stock of the video game retailer GameStop on Feb. 25 as its price surged above $100 per share in overnight trading. The stock has been favored by small investors who congregate on the Reddit forum r/Wallstreetbets. As of 10 a.m., the exchange blocked trading of…
Robinhood Blocked GameStop Buys After Clearinghouse Threatened $2.2 Billion Charge, CEO Says
Online stock trading platform Robinhood made the controversial decision to ban its users from buying certain stocks last month after the company that clears stock transactions imposed a $2.2 billion special charge on Robinhood. After the ban, the clearinghouse lifted the charge. Robinhood was popular among the small investors who organized online to buy the…
NTD Business Full Broadcast (Feb. 18)
We talk to CEO and Fed Hawk Danielle DiMartino Booth who’s on the ground in Texas. She says it’s a humanitarian crisis. Gamestop saga key players testify in front of lawmakers today, none admit wrongdoing, but they all agree they’ve never seen anything like it. Treasury yields continue to rise. Will the Fed step in…
Robinhood CEO Says Allegations That Trading Restrictions Were Meant to Help Hedge Funds Are ‘Absolutely False’
Robinhood CEO Vladimir Tenev said in testimony before the House Financial Services Committee on Thursday that any allegations his trading app tried to help hedge funds by limiting trades on volatile stocks last month is false. Tenev began his testimony before the committee at around noon ET on Thursday, by saying that Robinhood sought to…
Broker Robinhood Sued Over Student Trader’s Suicide
The family of a 20-year-old stock trader who committed suicide sued the broker Robinhood for his death, citing its “misleading communications” that caused their son to panic over what he wrongly believed were huge market losses, according to a lawsuit. Robinhood notified Alex Kearns in June of what he thought was a $730,000 loss on…
GameStop Highlights the Folly of Taxing Unrealized Capital Gains
Commentary As the GameStop rollercoaster ride trundles ever onwards, most are focused on the impact on retail investors and hedge funds involved. But this episode also illustrates what a mess a so-called “mark-to-market” system for taxing unrealized capital gains, as some Democrats have proposed, would be. Proposals for mark-to-market taxation of unrealized capital gains have…
Chinese Stock Trading App a Clear Winner in Retail Trading Frenzy
News Analysis Chinese stock trading app Webull has been one of the biggest beneficiaries of the retail trading frenzy that gripped the U.S. stock market in early 2021. Reddit-based retail investors generated huge volumes across the U.S. financial markets, sending heavily shorted stocks such as GameStop and AMC skyrocketing in late January. The trading frenzy…
Robinhood Lifts Trading Caps on GameStop and Other Stocks
Online brokerage app Robinhood said on Thursday it has removed temporary trading restrictions on all stocks, including GameStop and AMC, according to an update on its website. “There are currently no temporary limits to increasing your positions,” the company said on its website, in an update addressing the status of market volatility-induced changes on its platform….
Small Gamestop Investors Aren’t Giving Up as Price Drops Below $100
While the price of video game retailer Gamestop has slumped this week, many of the small investors that have rushed the stock are still holding and some are buying more. The company’s efforts to reinvent its struggling business model remain laden with uncertainty, but investors have flocked to it in hopes that hedge funds that…
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