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When Vincent Gallarte was laid off in July, the Manila IT analyst found an unusual financial lifeline: an online game that rewards players in cryptocurrency.
LONDON (Reuters) - Investors are estimated to have lost $930 million on their short positions in meme stocks GameStop and AMC Entertainment over the last five trading days, data from financial analytics firm Ortex showed on Tuesday.
WASHINGTON (Reuters) -The U.S. securities regulator is considering measures to require big investors to disclose more about short positions, or bets that stocks will fall, use of derivatives to bet on other stock moves and to protect small investors from trading apps that use features common to video games in order to boost risky trading activity.
LONDON (Reuters) - Goldman Sachs Group Inc has restarted its cryptocurrency trading desk and will begin dealing bitcoin futures and non-deliverable forwards for clients from next week, a person familiar with the matter said.
(Reuters) - GameStop Corp shares rallied on Thursday, finishing with double-digit gains despite a sharp retreat from session highs and leading a surprise resurgence of so-called "stonks" championed online by passionate retail investors.
WASHINGTON/BOSTON/NEW YORK (Reuters) - Tension, irate questions, people talking over one another, and a cat photo. Thursday's five-plus hour U.S. congressional hearing on GameStop had all of that, as top hedge fund managers, the head of Robinhood, and Roaring Kitty himself answered a barrage of questions over who was at fault in January's trading frenzy.
WASHINGTON (Reuters) - A raft of federal agencies are probing last month's "Reddit rally" in which Reddit users trading on low cost retail platforms banded together to push up GameStop Corp and other stocks, burning hedge funds that had bet against the companies.
Exclusive: Treasury's Yellen calls top regulator meeting on GameStop volatility, consults ethics lawyer
WASHINGTON (Reuters) - U.S. Treasury Secretary Janet Yellen is calling a meeting of top financial regulators this week to discuss market volatility driven by retail trading in shares of GameStop Corp , silver and other stocks favored on social media.
NEW YORK (Reuters) - On three hours of sleep a night and with no time to eat, one New York-based hedge fund manager overseeing billions in assets called last week the most stressful of his life.
There’s some irony in the fact that Reddit, an online chat community full of gamers, has propelled GameStop Corp to unbelievable levels. After all, video game fans have loved to hate the struggling retailer for decades.