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Before this year, GameStop was a cash register for bearish traders, who borrowed and sold more shares than the company issued. In their frenzy, WSB’s cocky hordes have managed to turn the tables in a game short sellers invented, spinning gold from the complacency of others. Robinhood is a smartphone app that allows individuals to invest in publicly traded companies and exchange-traded funds listed on U.S exchanges without paying a commission. Double-check that youre on the latest version of the Robinhood app. A report from Bloomberg puts it like this: User reports indicate no current problems at Robinhood. Other companies have also benefited from this push, including AMC Entertainment Holdings (AMC), BlackBerry (BB), Nokia (NOK), Express (EXPR), and more.Īs other reports have explained, retail traders such as those using Robinhood are pushing stocks that are commonly shorted by hedge funds, therefore squeezing them out of their positions. If you haven’t been keeping up with this story, GameStop (GME) stock has risen by over 1,350% during the last month, driven in large part by the WallStreetBets subreddit.
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New data from Appfigures today indicates how this viral retail investing trend has sent apps like Reddit and Robinhood to the top of Apple’s App Store charts. Over the last week, the Reddit forum WallStreetBets has helped push stocks like GME (GameStop), AMC, and BB (BlackBerry) to new highs. Robinhood app hit by data breach exposing users emails, names.