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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.
The GameStop trade remains frothy and risky, as retail investors flock back to meme stocks. Seana Smith. June 3, 2024 at 12:56 PM. Retail-investor favorite Keith Gill is back, and so is the meme ...
GameStop Corp. is an American video game, consumer electronics, and gaming merchandise retailer. [1] ... used games, or have a customer trade in a game. [97] ...
A GameStop store in a mall. In September 2019, Gill, under the username "u/DeepFuckingValue", posted on the subreddit r/wallstreetbets a screenshot of a trade consisting of a roughly $53,000 long position in GameStop; [8] Gill's Reddit posts and YouTube videos argued (through both fundamental and technical analysis) that the stock was undervalued. [3]
A well-timed trade in GameStop's options reaped a handsome profit on Friday after an account associated with "Roaring Kitty," a stock influencer and longtime champion for the video game retailer ...
In January 2021, Cohen's hedge fund Point72 joined Ken Griffin's Citadel in putting $2.75 billion into Melvin Capital, the hedge fund of former Cohen protege Gabe Plotkin, as a result of the GameStop short squeeze. [27] [28] Cohen denied that his involvement with the short squeeze would affect his willingness to spend money on the New York Mets ...