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On March 24, the GameStop stock price fell 34 percent to $120.34 per share after earnings were released and the company announced plans for issuing a new secondary stock offering worth up to $1 billion. [80] [81] By March 24, short interests had dropped to 15 percent, compared to the 141 percent level at its peak in January. [82]
The House Committee on Financial Services released a report late last week offering a harrowing glimpse inside Robinhood during the frenzy around Gamestop stock early last year. For Robinhood ...
The GameStop mania that drove its stock above $120 a share, split-adjusted, in early 2021 from as little as $3 in the space of three months, forced brokerages including Robinhood to limit trading ...
What Happened: Screenshots from Robinhood users confirm GameStop's stock is "not supported on Robinhood." The commission-free broker is warning customers the platform will only handle orders to ...
On January 28, 2021, Robinhood was among a number of brokerages that halted users from buying stock or options in GameStop and the other heavily shorted-securities. [16] On February 18, 2021, Tenev testified before the United States House Committee on Financial Services regarding Robinhood's role during the GameStop short squeeze.
The saga of GameStop is a story about the stock market. But it is also a story about politics. About power. About laws, memes, tech startups, wealth inequality, trolling, social media moderation ...
GameStop became the most-shorted stock on the market — until Reddit swooped in and made it a “meme stock.” ... GameStop was dying a slow death along with brick-and-mortar shopping malls ...
And the company faces lawsuits and regulatory scrutiny.