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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.
Robinhood's ride to fintech supremacy has been almost as volatile as the meme stocks that trade on its platform. Its IPO debut on July 28, 2021, ended with the stock down 8% to $34.82.
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]
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Judge Tigar split the 23 charges into two trials, one for charges 1-2 and the other for charges 3-23. The jury failed to reach a verdict in the first trial. [7] In the second trial, which ended in November 16, 2023, he was found guilty of 21 felony charges. [8] [9] Judge Tigar scheduled Rothenberg’s sentencing hearing for March 1, 2024. [10]
Bonta said Robinhood violated California law by failing to deliver cryptocurrencies that its customers had bought, leaving custome Robinhood in $3.9 million settlement with California over crypto ...
In the aftermath, post text shows how several of the individuals were affected: Plotkin was forced to shut down Melvin Capital because of the net losses the incident caused; Robinhood was the target of several lawsuits following the fiasco and wound up starting in the stock market significantly lower than it was prior; Harmony was able to use ...
A new movie underscores how deeply the company is associated with meme stocks, but Robinhood has a lot more up its sleeve. Robinhood has a comeback plan—and it just might work Skip to main content