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r/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading. It has become notable for its colorful jargon, aggressive trading strategies, stories of extreme gains and losses acquired in the stock market, and for playing a major role in the GameStop short squeeze that caused significant losses for a number of US hedge funds and ...
GME Short Squeeze weekly chart in 2021 where price squeezed over %1,000 in 2021 providing numerous day trading opportunities.. Before 1975, stockbrokerage commissions in the United States were fixed at 1% of the amount of the trade, i.e. to purchase $10,000 worth of stock cost the buyer $100 in commissions and same 1% to sell and traders had to make over 2% to cover their costs, which was not ...
A week earlier, Galvin had called for a 30-day suspension of trading in GameStop securities and insisted that the share price was "irrational". [36] [37] [38] Gill testified to the House Financial Services Committee on February 18, 2021, saying: "I did not solicit anyone to buy or sell the stock for my own profit", and "I like the stock."
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A GameStop store in 2014. GameStop, an American chain of brick-and-mortar video game stores, had struggled in the years leading up to the short squeeze due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.
They went public the next day on the New York Stock Exchange at $47 per share and rose to $50.44 at market close on their first day of trading, reaching a market cap of $9.5 billion. [86] On May 16, 2024, it was announced that Reddit and OpenAI had reached a deal that will allow OpenAI access to the Reddit API to train its models, while Reddit ...