Now emboldened Reddit communities are talking about taking on other companies that Wall Street is broadly betting against. The Reddit crowd is already attempting to push up BlackBerry, the once-popular handset maker that now focuses primarily on selling business software. And Redditors are also targeting the struggling movie chain AMC, pushing its stock from hovering around $2 per share to more than $8 in after-hours trading. By Wednesday afternoon it closed at $19.90 per share before dropping to $12.75 … [Read more...] about Reddit makes AMC, GameStop stock go wild: This ‘insane’ ‘Ponzi scheme’ can’t last
Trump makes fun of reporter
Reddit and Elon Musk’s GameStop stock surge? ‘It’s a Ponzi scheme’
But when the memes stop and the excitement goes away, GameStop will go back to being that struggling video game retailer at a time when gaming is increasingly moving toward streaming and the idea of stepping into a physical store is still a nerve-wracking prospect during a pandemic. At that point, stock analysts say, whoever's left holding shares will see their value evaporate. … [Read more...] about Reddit and Elon Musk’s GameStop stock surge? ‘It’s a Ponzi scheme’
Reddit and Elon Musk’s GameStop stock rocket: This ‘insane’ ‘Ponzi scheme’ can’t last
Over the past week, the finance world watched in shock as GameStop stock rose to unthinkable levels. On Wednesday afternoon, the stock hovered around $325 per share, up from from historic lows of around $3.30 per share in the summer of 2019. Even Elon Musk tweeted about it, pointing his 43 million followers to a link of the Reddit community investing in GameStop. … [Read more...] about Reddit and Elon Musk’s GameStop stock rocket: This ‘insane’ ‘Ponzi scheme’ can’t last
Reddit’s AMC, GameStop stock go wild: This ‘insane’ ‘Ponzi scheme’ can’t last
But when the memes stop and the excitement goes away, GameStop will go back to being that struggling video game retailer at a time when gaming is increasingly moving toward streaming and the idea of stepping into a physical store is still a nerve-wracking prospect during a pandemic. At that point, stock analysts say, whoever's left holding shares will see their value evaporate. … [Read more...] about Reddit’s AMC, GameStop stock go wild: This ‘insane’ ‘Ponzi scheme’ can’t last
