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GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. [ 65 ] [ 66 ] Reports estimated that about $27 billion in value had been erased. [ 66 ] [ 67 ] Other assets affected by the short squeeze and put under company trading restrictions, such as AMC and Blackberry shares, also declined in ...
Dumb Money is a 2023 American biographical comedy-drama film, directed by Craig Gillespie and written by Lauren Schuker Blum and Rebecca Angelo. It is based on the 2021 book The Antisocial Network by Ben Mezrich and chronicles the GameStop short squeeze of January 2021.
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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After joining Reddit's famed Wall Street Bets forum and riding the short squeeze in GameStop higher in 2020, he became interested in dogecoin, which is viewed by many as the original meme coin. He ...
Back in December 2023, GameStop's board gave Cohen the authority to use the company's capital to make investments. That paved the way for the video game operator to use its cash like a holding ...
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In early 2021 the fund lost over 30% due to numerous short bets that went awry, including GameStop. [23] Users of the subreddit r/WallStreetBets made widespread bets believing that GameStop's stock would increase in value. [24] In January, Citadel and Point72 invested $2.75 billion in Melvin in exchange for non-controlling revenue shares of the ...