Who is manipulating GameStop stock?
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Who is manipulating GameStop stock?
Redditor who sent GameStop stock to the moon is sued, accused of market manipulation. Keith Gill, who made millions off a surprise jump in GameStop stock, is increasingly under the spotlight. He insists he did nothing wrong. GameStop stock swung wildly after Keith Gill started hyping its prospects.
Who is behind the Reddit GameStop?
Keith Gill, AKA Reddit’s DeepF——Value, apparently lost more than $13 million on Tuesday alone from his GameStop bet as the shares dropped 60\%. Despite the losses, the investor is holding onto 50,000 shares of GameStop as well as 500 call options in the brick-and-mortar video game retailer.
How did Reddit influence GameStop stocks?
An army of traders on the Reddit forum r/WallStreetBets helped drive a meteoric rise in GameStop’s stock price in recent days, forcing halts in trading and causing a major headache for the short sellers betting against it and banking on the stock falling.
Is GameStop stock manipulation legal?
Section 9(a)(2) of the ’34 Act prohibits any seller of stocks from (1) creating actual or apparent active trading in a stock; or (2) raising or depressing the price of a stock, for the purpose of inducing others to purchase or sell that stock.
Who started Reddit stock?
Two years later, Reddit Inc. co-founder Alexis Ohanian recounted the gag in a TED Talk. “In the last four years, we’ve seen all kinds of memes, all kinds of trends get born right on our front page,” he said. “This is how the internet works. This is the great big secret.
Who started Reddit WallStreetBets?
Jaime Rogozinski
r/wallstreetbets
| Icon and banner | |
|---|---|
| Type of site | Subreddit |
| Founder(s) | Jaime Rogozinski |
| URL | reddit.com/r/WallStreetBets |
| Registration | Optional |
Was the GameStop trading illegal?
The Securities and Exchange Commission charged two traders with engaging in illegal so-called wash trading of meme stocks, including GameStop Inc., in an alleged scheme that netted them hundreds of thousands of dollars in ill-gotten rebates from a number of stock brokers.
Will the SEC investigate GameStop?
The Securities and Exchange Commission has concluded an investigation into the Gamestop stock price surge that took place earlier this year, and found no evidence of fraudulent behaviour to manipulate the market.
Who are Reddit traders?
Justin Zhen, Thinknum, on the new hot stocks in the Reddit crowd. With CNBC’s Melissa Lee and the Fast Money traders, Guy Adami, Tim Seymour, Dan Nathan and Karen Finerman.
How did Reddit find out about GameStop?
In mid-2019, a Reddit user — known as “Roaring Kitty” on some social media accounts — posted a picture on an online forum depicting a single $53,000 investment in the video-game retailer GameStop. The post attracted little attention, except from a few people who mocked the bet on the struggling company.