Trading app Robinhood settles class action lawsuit over 2020 outages May 28, 2022 Stock market trading app Robinhood has agreed to settle a proposed class action lawsuit, over claims outages on its app cased investors to lose money during a period of pandemic-related stock market volatility. The lawsuit comes after retail investors flocked to the app in the midst of the pandemic, in their efforts to battle hedge [...]
The most popular source of investment ideas for Gen Y and Z? Social media November 17, 2021 A new survey has confirmed the trends we saw during the pandemic, when retail investing became part of the zeitgeist due to a combination of social isolation, boredom, spare cash and rapidly innovating fintechs. Over half (56 per cent) of 18-34 year olds in the UK who invest attribute their strategy to ideas published on [...]
GameStop gets new $500m asset-based credit facility November 4, 2021 Videogame retailer GameStop Corp said on Thursday it entered into a new $500m global asset-based revolving credit facility with a syndicate of banks
Reddit seeks advisers for $15bn plus New York IPO September 2, 2021 Online message board operator Reddit is reportedly seeking to hire lawyers and investment bankers as advisers for a US IPO that could see it valued at more than $15bn. Reddit, the self-styled “front page of the internet”, was in the spotlight earlier this year when day traders on its forum sparked a huge rally in [...]
Gamestop drops while Clover Health rises as rollercoaster ‘meme stocks’ continue June 10, 2021 GameStop shares fell 7.6 per cent this morning while Clover Health Investments (CLOV.O) jumped 5.9 per cent earlier today after soaring about 86 per cent earlier this week as retail traders on reddit turn their attention to new stocks to push up. GameStop announced the head of Amazon’s Australian business, Matt Furlong, as its new [...]
GameStop names Amazon veteran as CEO and says it may sell shares June 10, 2021 GameStop has named the head of Amazon’s Australian business as its new CEO and said the struggling videogame retailer may sell new shares. The announcement sent its volatile stock down seven per cent in extended trade and disappointed some of its enthusiastic fanbase of individual investors. In a quarterly report that was stronger than analysts [...]
GameStop to elect activist investor Cohen as chairman in e-commerce push April 8, 2021 GameStop intends to elect activist investor Ryan Cohen as chairman, putting him at the helm as the company transforms from a bricks-and-mortar store to one with an e-commerce focus. Since Chewy co-founder Cohen joined the video game retailer’s board in January, he has been pushing towards the transformation of the brick-and-mortar retailer into an e-commerce [...]
GameStop shares slump as it plans $1bn post-rally stock sale April 5, 2021 GameStop shares slump as it plans $1bn post-rally stock sale
GameStop shares jump a third on ‘meme stock’ rally March 25, 2021 Shares in video-game retailer GameStop rose a third today as the firm recouped the losses it made earlier this week. The firm is one of several so-called “meme stocks” popular with Reddit retail investors that have made rapid gains today. Headphone maker Koss and cinema chain AMC have also seen big gains as the wallstreetbets [...]
GameStop shares tumble just as meme stock passes $300 March 10, 2021 Shares in GameStop have tumbled back to $242, after rising to more than $300 per share earlier today, nearing their all-time high. The latest GameStop rally is said to be based on company fundamentals and speculation that small investors will pour their stimulus packages into markets. After a strong few days the stock has dropped [...]