Reuters reports: Bots on major social media platforms have been hyping up GameStop Corp and other “meme” stocks, according to an analysis by Massachusetts-based cyber security company PiiQ Media, suggesting organized economic or foreign actors may have played a role in the Reddit-driven trading frenzy… it is unclear how influential they were in the overall saga… PiiQ said it identified very…
Tag: Stock prices
Wall Street Fund Wants To Hire r/WallStreetBets Users To Help Pick Meme Stocks
An anonymous reader quotes a report from Gizmodo: Cindicator Capital is the kind of investment fund that relies on software and algorithms to model investment strategies based on any number of disparate factors. In the wake of the WallStreetBets subreddit throwing hedge funds into chaos and driving stock prices to non-sensical extremes, Cindicator has posted a job listing on LinkedIn hoping…
Was GameStop’s Rise Actually Orchestrated By Hedge Funds?
Robert J. Shapiro advised senior members of the Obama administration on economic policy, and served as an Under Secretary of Commerce under Bill Clinton. Now a senior fellow at the McDonough School of Business at Georgetown, he’s suspicious of the surge in GameStop’s stock price:
Allegedly, this is the tale of scrappy, small online day traders buying shares of a beleaguered company…
AMC Spikes 260% as Day Traders Ignite Shorted Stocks like GameStop, BlackBerry, and Bed Bath & Beyond
AMC shares skyrocketed as much as 260% in premarket trading on Wednesday as day traders piled into heavily shorted stocks for a third consecutive day. From a report: Frenzied buying also drove GameStop shares up as much as 147%, BlackBerry up 31%, and Bed Bath & Beyond up 27%. Amateur investors have gathered, most notably on Reddit forum r/wallstreet bets, to…
Elon Musk: Tesla May Be Overvalued Today, But I Think It’ll Be Worth More In 5 Years
In an interview with Kara Swisher via a New York Times podcast, Elon Musk said he thinks Tesla will be worth more than it is today in 5 years. CNBC reports: “Some critical mass of the market has concluded that Tesla will win, I guess,” said Musk on the stock’s increases. “I’ve gone on record already saying the stock prices have…
How Blue Apron Became a Massive $2 Billion Disaster
An anonymous reader quotes a report from Observer: If you like to cook but not to shop or plan your own meals, and if you weren’t too hungry, and if you didn’t like cooking for too many friends, then Blue Apron — the startup delivering precisely measured, prepackaged amounts of just enough salmon, green beans, butter and lemon for one meal,…
Why The ‘Not-Com’ Stock Bubble Is Popping
“In the dot-com bubble, public investors got hosed,” remembers The Atlantic. “Today, it’s public investors that are doing the hosing.” When the web browser Netscape went public on August 9, 1995 — the day many cite as the beginning of the dot-com bubble — its stock skyrocketed from $28 to $75 in a matter of hours, even though the company wasn’t…