GameStop memes are everywhere. Compilation of best 50 funny jokes by Bemorepanda
GameStop Corp (stock symbol GME), an American retailer of video games, electronics and wireless services, has become one of the most attractive issuers for investors in 2021, in a story that illustrates the changing face of the investment landscape, in the context in which in one month its shares appreciated by 685.5%, according to calculations made by ZF based on data from Investing.com.
Nearly a quarter of this rally was recorded on January 26, when Elon Musk posted on Twitter "gamestonk", a word game consisting of GameStop and stonk, a slang for the word stocks (shares). a 92% rally, rising from $ 76.8 to $ 148 per unit.
Like many other retailers, GameStop suffered last year due to the reorientation of consumers to online, so the losses led the company to announce the closure of 450 stores in 2021. GameStop operates about 6,500 stores in the US, Canada, Australia, New Zealand and Europe. But, surprisingly, the chain of stores with a history of 37 years is today the target of a battle between small investors in the Reddit community and Wall Street shorts that show no signs of fading and that has highlighted some changes in the investment paradigm.
In other words, small investors have added large buy orders to the idea of ruining Wall Street bets that the price will fall, a bet that has proved very expensive for financial professionals over the past month.
On Wednesday, GameStop shares continued their upward trend, rising in the premarket by 68.9%, to $ 250 per unit, according to Investing.com data. In September 2020, Ryan Cohen, investor and founder of online pet food giant Chewy, bought a 13% stake in GameStop. Subsequently, the price began to rise as retail investors entered the purchase to benefit from the low price, taking advantage of what they saw as an ideal buying opportunity. Wall Street investors, on the other hand, saw the market as a chance for a declining bet and a chance to shorten the stock.
Short selling involves selling a company's shares and selling them with the intention of buying them back cheaper when the price drops and making a difference. Many Wall Street fortunes have been made through this type of trading, but on the other hand, if the price goes up, the losses can be huge.
According to The Guardian, about 71.7 million GameStop shares, worth about $ 4.7 billion, are currently traded in absentia. But the company has only 69.7 million shares available for trading, which means that more than 100% of the shares are traded in the market in absentia, according to data aggregated by ZF. As of January 26, 2021, these bets have cost investors about $ 6.12 billion, which includes a loss of $ 2.8 billion on Monday, January 25.
According to ZF's calculations, in the last two weeks, GME shares have advanced 642%, which means that they have increased more than 7 times, the company reaching a capitalization of 10.3 billion dollars.
2.During the pandemic
6.Money for trade-in
8.Can I get a change
9.Math is hard
10.Walmart be like
13.Chicken and gamestop
15.Shopping with mom
16.Love and devotion
17.Couple of clowns
18.Nature is healing
23.A big collection
24.Trade in credit
25.Gamestop be like
26.The game my son wants
27.Reddit Wall Street
33.Insurance adjusters be like
35.Gamestop credit card
37.Games at home
38.Not my job
39.My car outside
41.Gamestop be like
49.Do you game?
50.Trying to sleep
The Robinhood , the trading platform at the center of the Reddit-Wall Street scandal, has attracted more than a billion dollars thanks to investors and credit lines launched by banks to strengthen its position, reports Financial Times.
Robinhood has attracted more than a billion dollars thanks to investors and credit lines launched by banks to strengthen its position, according to the Financial Times, according to Ziarul Financiar. At the same time, the company has raised several hundred million dollars as a result of credit facilities offered by banks such as JPMorgan, Morgan Stanley, Barclays and Wells Fargo, quotes Mediafax.
The moves come after Robinhood and other retail brokers blocked transactions on several companies whose shares have risen significantly in the past week, causing chaos among users and uncertainty among politicians in the United States.
Meanwhile, GameStop shares rose 60% after the end of the trading session, managing to overcome the 44% decline on Thursday, January 28th. AMC and BlackBerry shares also recovered much of their losses. "We will continue to monitor the situation and make changes if necessary," Robinhood said.
The trading platform has become a popular location for traders who have organized rallies within the Reddit community, conducted in order to generate losses for hedging funds that have placed huge sums against the same actions.
However, the company's decision has provoked a wave of negative reactions from users, who are asking politicians to investigate the platform, recently accusing it of manipulating the market.
The US Senate Banking Committee later said it would hold a hearing on volatility in recent days. In addition, a group of retail traders sued Robinhood in two US states, saying the application tried to "intentionally slow down GameStop's growth."
Brendon Nelson, one of the people who filed the complaints, says the move was carried out in the interest of Robinhood's institutional investors and had nothing to do with the "public good," Reuters reports.
Robinhood is a zero-commission trading platform that was born in 2013 on the initiative of young people from New York, Vladimir Tenev and Baiju Bhatt, former students of Stanford University in California. The application became popular against the background of the Occupy Wall Street movement and managed to attract especially the Millennials (people born between 1980 and 1996) and Gen Z (1996-2010). At the beginning of December, the platform had about 13 million users.
CEO Vladimir Tenev was sharply criticized by Robinhood users, who reminded him that the company's main objectives were based on the concept of "financial democratization".
Today this app is implicated in a lot of memes. Bemorepanda collected them all for you.
1.Prove your name
2.Robbing the hood
3.We will not forget
6.When you was ofline for a day
7.Trying to cool the planet
8.Robinhood is down
10.You get the bonk
12.Reputation is gone
16.Put the glasses
17.Robinhood be like
19.Preparing to bankrupt
22.Not like that
27.Are you winning?