GameStop Mania: How Reddit Traders Took On Wall Street

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GameStop has captivated Wall Street’s attention. The stock’s rise has been otherworldly. But the obsession isn’t just with the rally, it’s with who’s making money off of it. Legions of individual investors — regular, everyday people — gathered on social platforms like Reddit and decided to send GameStop stock, as they would say, to the moon. This week, GameStop shares soared 400%, a hedge fund had to get bailed out, and online trading platforms had to restricting trading on GameStop and other hot stocks. Here’s how the GameStop saga played out, and what’s next as lawmakers turn their sights on the story that took over Wall Street this week.

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GameStop Mania: How Reddit Traders Took On Wall Street

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39 COMMENTS

  1. amazing. When wall street and the banks screwed people out of their homes ,pensions and 401 k's, the government votes to bail them out when the housing market crashed but when amateur working class Joe uses the system to profit off the million dollar hedge funds now the government wants to play the parent?

  2. Wow, incredibly one sided story.

    You just skipped over the "fundamental investors" that shorted over 100% of the available shares.

    That is the "fundamentals" of which you are speaking.

    The real market manipulation is by the brokerages and the "market makers" who froze buying of the stock but not selling.

    That is clear market manipulation, if a bunch of people on a website sharing stock tips is market manipulation then CNBC is doing the same thing! That argument is a complete and utter cop-out and shows where CNBCs bread is buttered.

    This was a bailout of the rich "institutional" investors. I mean another bailout. After the last bailout and before the other bailout (ie. 2008, Silicon Valley Bank).

    The fact that there has been no investigation into those market manipulations which this story COMPLETELY glosses over shows what we all really knew was true long ago but finally found a blatant example of.

    Wall Street is designed to make rich people richer, as soon as anyone else makes money at their expense they whine and complain and shut it down and the SEC is frankly deep in their pockets and not looking out for the people.

    Happened with Gamestop, happened with 2008 financial collapse, happened with Silicon Valley Bank, will happen again.

    Our economy is designed to privatize the richest peoples profits, and Socialize the losses.

    And people wonder why there are these populist movements gaining steam?

    People can only take so much of an obviously rigged system….

  3. I remember in 1987 there was a German anchor by the name Nebuzburzimbeletbagker but since you have jumped the name I will not tell you the whole story.

  4. After a terrible 2022, shell-shocked financial backers have a lot to think about and losses to recover from. An expansion report and a wealth of other data did little to alter assumptions that the Central bank would likely keep raising interest rates regardless of whether the economy slows down. This implies that portfolios will experience more losses during the first quarter of 2023. I'm currently at a crossroads deciding whether to exchange my $250k security/stock portfolio; how might the continuous market volatility work to my advantage?

  5. I went to GameStop in 2005 and shop 2015 and went back know 😊 the game's are 33$ new games each I love this stop 😉 spend 550$ all NEO gaming know 😊 PC gaming all used cause that's GameStop gravy train 😊

  6. Nobody can become financially successful overnight. They put in background work but we tend to see the finished part. Fear is a dangerous component, hindering us from taking the bold steps we need in other to reach our goals.

  7. They’re the ones who control the market, and can and HAVE completely bankrupted a company that were threatening their wealth. Like new energy companies. Then people do it back to them, and they’re all surprised pikachu face. 😂

  8. Nope, not just hedge funds who are naked shorting the stock, but the DTCC, Cede & Co., the whole crooked private-public partnership, "self regulating" system, must go.

  9. Everyone should stick it up to the hedge funds, but only based on actual research. Research and thorough due diligence that you have done on your part. Like shorting Tesla, that's sticking it up to the hedge funds and based on actual information (like a low number of cars being sold and unfulfilled promises, compared to a stock price that's through the roof). Unfortunately Robin Hood took the side of hedge funds. You should never prohibit someone from buying a stock. No matter how risky it might be. It should always be a free market for the retail investor.

  10. Holy, you guys don't understand… this world is about wealth privilege; even if you get smart men that come from nothing like STEVE JOBS. Don't EVER let negativity say no to you or your ideals. These people in business are morons. Not connected to God/the Devine/Creativity. They are handicapped. This new reality is the battle between wealth privilege and the poor who don't want to be poor anymore. Interestingly enough poor people seem to be smarter and more savvy than the ones who had everything handed to them.

  11. This proves that if the Trading masses ever we're to achieve a real win over wallstreet they would just sabotage everything. That move they did to limit trading accessibility on those platforms was MASSIVELY WICKED. How dare that robinhood exec get on camera and say "Were gonna do something about this" as if the traders did something wrong. All of them should be smitten.

    This goes to show how they really think of us, it is not a fair competition, they just let us be satisfied with crawling unto you know how to run, then they say "Hold on buddy, that's enough". Flames to them all, they are crooks. ARGHHHHHHHHH

    P.S. And you better believe if this trend were to resurface upon another stock, we would not know, cause the media surely told them not to air it, that just informs more average people who may go in and participate. WICKED

  12. I still look back on this and smile about the whiny short sellers that were complaining about people "manipulating the market" when that's exactly what they've been doing for years.

    Short selling should be illegal.

  13. GME (Gamestop) stock. LRC (loopring) and IMX (immutable X) crypto mixed with some Ethereum (ETH) and you'll never have to work for the man again? Good portfolio. Crypto is the future. Everything is going digital. Only make sense

Comments are closed.