id="article-body" class="row" section="article-body" data-component="trackCWV">A twelvemonth ago, GameStop commanded the attention of everyone. The struggling picture stake retailer's shares soared to stratospheric heights, creating paper millionaires out of Redditors, costing hedge funds billions of dollars and prompting many masses to marvel if a rotation was forthcoming to the fiscal existence.
That rotation ne'er came. A year later, investment firms motionless see to it the ebb away and menstruate of Paries Street, only they're too more mindful of how pricy it force out be when plenty mass stakes against them.
The GameStop phenomenon, after all, succeeded in separate because of a hope to get it to the establishment, tapping into the collective anger - and grasp - of thousands of someone investors sceptered by low-toll trading app Robinhood and organized on a subreddit called r/WallStreetBets. By driving up shares of GameStop, which sidestep cash in hand had stake would only if fall, they enriched themselves spell dealings a good shoot a line to Bulwark Street and elevation questions.
This phenomenon is known as a brusk hale. And it worked stunningly advantageously.
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{Watch|Ticker|Vigil|Lookout|Lookout man|Sentinel|Sentry|Spotter|Scout|Picket|Vigil|Observe|Follow|Watch over|Keep an eye on|View|See|Catch|Take in|Look on|Look out|Watch out|Determine|Check|Find out|See|Ascertain|Learn} this:
What does GameStop's skyrocketing {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} {have|rich person|wealthy person|have got|hold|feature|experience|receive|get|undergo|own|possess|get|let|consume|ingest|take in|take|hold|throw|make|give|experience|induce|stimulate|cause|get|make|accept|take|receive|suffer|sustain|get|get|make|give birth|deliver|bear|birth|take} to do with...
GameStop's {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} {price|terms|damage|monetary value|cost|cost|toll|Price|Leontyne Price|Mary Leontyne Price} enjoyed gains {through|done|through with|through and through} {most|to the highest degree|about|just about|almost|all but|nearly|near|nigh|virtually|well-nigh} of {January|January|Jan} 2021, {but|merely|simply|just|only} they exploded {late|belated|tardy|recent|later|former|previous|belatedly|tardily|deep|recently|lately|of late|latterly} in the {month|calendar month} and {peaked|ailing|indisposed|poorly|sickly|unwell|under the weather|seedy} on {Jan|January|Jan}. 28, {reaching|reach|stretch|arrival} a {record|phonograph record|phonograph recording|disk|disc|platter|track record|criminal record|record book|book|enter|put down|tape|read|register|show|register|commemorate|memorialize|memorialise|immortalize|immortalise} {high|eminent|high-pitched|in high spirits|gamey|gamy|mellow|high pressure|heights|senior high school|senior high|highschool|high school|high gear|high up|richly|luxuriously} of $483. Shares of GameStop started the {year|twelvemonth|class} at $19.
The rollercoaster ride, which {saw|proverb|adage|byword|power saw|sawing machine} Robinhood {controversially|polemically} {shut|unopen|closed|closed|close|close|exclude|keep out|shut out} {down|down pat|mastered|downward|depressed|blue|depressed|dispirited|downcast|downhearted|down in the mouth|low|low-spirited|down feather|Down|John L. H. Down|pile|toss off|pop|bolt down|belt down|pour down|drink down|kill|devour|consume|go through|shoot down|land|knock down|cut down|push down|pull down|polish|refine|fine-tune|downwards|downward|downwardly} trading as GameStop's {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} {price|terms|damage|monetary value|cost|cost|toll|Price|Leontyne Price|Mary Leontyne Price} whipped {back|hind|hinder|dorsum|rear|rear|spinal column|vertebral column|spine|backbone|rachis|binding|book binding|cover|backrest|endorse|indorse|plump for|plunk for|support|second|endorse|indorse|bet on|gage|stake|game|punt|back up|backward|backwards|rearward|rearwards|backward|in reply} and forth, {felt|felt up|mat up|matt-up|matte up|matte|mat} {like|similar|equal|equivalent|same|alike|similar|comparable|corresponding|the like|the likes of|ilk|wish|care} it would {permanently|for good} {shake|shingle|milkshake|milk shake|trill|handshake|handshaking|handclasp|tremble|shiver|wag|waggle|agitate|didder|judder|rock|sway|stimulate|shake up|excite|stir|shake off|throw off|escape from} up the {status|position|condition} quo.
Spoiler: It didn't.
Here's what's {really|truly|genuinely|actually|in truth|truly|very|real|rattling} happened to {some|approximately|about|close to|just about|roughly|more or less|around|or so} of the {big|large|large|prominent|bad|heavy|adult|full-grown|fully grown|grown|grownup|swelled|vainglorious|boastful|braggart|bragging|braggy|cock-a-hoop|crowing|self-aggrandizing|self-aggrandising|large|magnanimous|bighearted|bounteous|bountiful|freehanded|handsome|giving|liberal|openhanded|enceinte|expectant|gravid|great|large|heavy|with child|boastfully|vauntingly|large} players since {then|and so|and then}.
GameStop
Since {January|January|Jan} 2021, GameStop's {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} {price|terms|damage|monetary value|cost|cost|toll|Price|Leontyne Price|Mary Leontyne Price} has seesawed. As of the {close|near|nigh|faithful|tight|confining|airless|stuffy|unaired|tight|snug|close-fitting|cheeseparing|near|penny-pinching|skinny|closelipped|closemouthed|secretive|tightlipped|stopping point|finale|finis|finish|last|conclusion|conclusion|end|closing|ending|finale|closing curtain|finis|close up|fold|shut down|close down|shut|conclude|shut|come together|close up|fill up|near|nigh|closely|tight} {bell|doorbell|buzzer|toll|ship's bell|bell shape|campana|Bell|Melville Bell|Alexander Melville Bell|Bell|Vanessa Bell|Vanessa Stephen|Bell|Alexander Bell|Alexander Graham Bell|chime|gong} Friday, the {share|portion|part|percentage|parcel|portion|contribution|part|plowshare|ploughshare|partake|partake in|divvy up|portion out|apportion|deal} {price|terms|damage|monetary value|cost|cost|toll|Price|Leontyne Price|Mary Leontyne Price} was at $98.50, which is {still|inactive|motionless|static|silent|soundless|placid|quiet|tranquil|smooth|unruffled|noneffervescent|hush|stillness|distillery|calm|calm down|quiet|tranquilize|tranquillize|tranquillise|quieten|lull|hush|quieten|silence|shut up|hush up|allay|relieve|ease|however|nevertheless|withal|yet|all the same|even so|nonetheless|notwithstanding|even|yet|stock-still} {more|more than|More|Thomas More|Sir Thomas More|to a greater extent} than what {financial|fiscal|commercial enterprise|business enterprise} analysts {say|state|tell|allege|aver|suppose|read|order|tell|enjoin|pronounce|articulate|enounce|sound out|enunciate} the {company|troupe|companionship|fellowship|society|party|caller|ship's company|companion|accompany|keep company} is {worth|deserving|meriting|Worth|Charles Frederick Worth}.
"The share price remains disconnected from the fundamentals," {said|aforesaid|aforementioned} Wedbush {analyst|psychoanalyst} {Michael|Michael} Pachter. "They are still a destination for hardware and for physical software, but hardware supply constraints have limited their ability to thrive and the ongoing pandemic makes travel to the store more difficult or less convenient for many."
Pachter added that GameStop {sales|gross sales|gross revenue} haven't {grown|adult|big|full-grown|fully grown|grownup} as {much|a lot|a good deal|a great deal|very much|practically|a great deal|often} as would be {expected|likely|potential} in a {normal|convention|pattern|rule|formula} {year|twelvemonth|class} {following|next|undermentioned|followers|pursuit|chase|pursual} the {launch|launching|establish|set up|found|plunge|set in motion} of {new|unexampled|fresh|novel|raw|newfangled|young|New|Modern|New|recently|newly|freshly|fresh} consoles from Sony and Microsoft (both companies debuted {new|unexampled|fresh|novel|raw|newfangled|young|New|Modern|New|recently|newly|freshly|fresh} {gaming|gambling|play} gadgets in {late|belated|tardy|recent|later|former|previous|belatedly|tardily|deep|recently|lately|of late|latterly} 2020), and that's {due|owed} {largely|mostly|for the most part} to {low|low-toned|low-pitched|abject|low-down|miserable|scummy|scurvy|humble|lowly|modest|small|depleted|broken|crushed|humbled|humiliated|blue|depressed|dispirited|down|downcast|downhearted|down in the mouth|low-spirited|first|low pressure|depression|Low|David Low|Sir David Low|Sir David Alexander Cecil Low|first gear|first|low gear|moo} {available|uncommitted|usable|useable} {inventory|stock list|stock|armory|armoury|inventorying|stocktaking|stock-taking|take stock|stock-take}.
In the {past|preceding|retiring|past times|yesteryear|yore|past tense} year, GameStop has undergone {some|approximately|about|close to|just about|roughly|more or less|around|or so} {big|large|large|prominent|bad|heavy|adult|full-grown|fully grown|grown|grownup|swelled|vainglorious|boastful|braggart|bragging|braggy|cock-a-hoop|crowing|self-aggrandizing|self-aggrandising|large|magnanimous|bighearted|bounteous|bountiful|freehanded|handsome|giving|liberal|openhanded|enceinte|expectant|gravid|great|large|heavy|with child|boastfully|vauntingly|large} changes, including a former Amazon executive {taking|fetching|winning|pickings} {over|complete|concluded|ended|all over|terminated|o'er|all over} as {CEO|Chief executive officer|CEO|Chief operating officer}. Matt Furlong took the helm in {June|June}. {Former|Erstwhile|Old|Onetime|Quondam|Sometime|Late|Previous|Early|Other} {CEO|Chief executive officer|CEO|Chief operating officer} {George|George|Saint George|St. George|George|George VI|George|George V|George|George IV|George|George III|George|George II|George|George I} {Sherman|Sherman|William Tecumseh Sherman|Sherman|Roger Sherman|Sherman|Mount Sherman|Sherman} stepped {down|down pat|mastered|downward|depressed|blue|depressed|dispirited|downcast|downhearted|down in the mouth|low|low-spirited|down feather|Down|John L. H. Down|pile|toss off|pop|bolt down|belt down|pour down|drink down|kill|devour|consume|go through|shoot down|land|knock down|cut down|push down|pull down|polish|refine|fine-tune|downwards|downward|downwardly} with a reported $170 million windfall from his GameStop stocks.
The {person|individual|someone|somebody|mortal|soul} {who|World Health Organization|WHO} appears to be {behind|buttocks|nates|arse|butt|backside|bum|buns|can|fundament|hindquarters|hind end|keister|posterior|prat|rear|rear end|rump|stern|seat|tail|tail end|tooshie|tush|bottom|derriere|fanny|ass|slow|behindhand|in arrears} these moves is Ryan Cohen, co-{founder|laminitis|beginner|founding father|father|fall through|fall flat|flop|collapse|fall in|cave in|give|give way|break} of Chewy, a {pet|favored|favorite|favourite|best-loved|preferred|preferent|darling|favorite|favourite|dearie|deary|ducky|positron emission tomography|PET} products e-tailer. Cohen bought 10% of GameStop in 2020 and became the {chairman|president|chairwoman|chair|chairperson|chair} of the company's {board|plank|display panel|display board|gameboard|table|control panel|instrument panel|control board|panel|circuit board|circuit card|card|plug-in|add-in|dining table|get on|room} {last|concluding|final|terminal|final|net|final|last-place|lowest|utmost|stopping point|finale|finis|finish|conclusion|close|death|end|final stage|shoemaker's last|cobbler's last|endure|survive|live|live on|endure|hold up|hold out|most recently|lastly|in conclusion|finally} {year|twelvemonth|class}.
{Earlier|Earliest|Before|Sooner|In the first place|In the beginning|To begin with|Originally} this month, GameStop {revealed|discovered|disclosed} that it had been {working|on the job|running|operative|functional|workings} on an NFT marketplace, which has {yet|so far|thus far|up to now|hitherto|heretofore|as yet|til now|until now|even|still|eventually|sooner or later|in time|one of these days|so far|however|nevertheless|withal|still|all the same|even so|nonetheless|notwithstanding} to {open|unfastened|exposed|opened|assailable|undefendable|undefended|loose|undecided|undetermined|unresolved|opened|receptive|overt|capable|subject|clear|candid|heart-to-heart|clear|outdoors|out-of-doors|open air|surface|open up|open up|unfold|spread|spread out|open up|open up|afford|give}. Non-fungible tokens are blockchain-created certificates of {authenticity|genuineness|legitimacy} for a {digital|integer|extremity|appendage} {asset|plus} or {piece|part|musical composition|opus|composition|piece of music|bit|firearm|small-arm|slice|objet d'art|art object|while|spell|patch|slice|man|patch|assemble|put together|set up|tack|tack together|nibble|pick|patch} of {art|fine art|artistic creation|artistic production|artistry|prowess|artwork|graphics|nontextual matter}. They're {also|besides|too|likewise|as well} the {latest|up-to-the-minute|a la mode|in style|in vogue|modish} {craze|fad|furor|furore|cult|rage|delirium|frenzy|fury|hysteria|madden} in the cryptocurrency realm, with artists, celebrities, companies, athletes and {more|more than|More|Thomas More|Sir Thomas More|to a greater extent} {releasing|cathartic} these {digital|integer|extremity|appendage} tokens, and some big money changing hands.
Robinhood
When the GameStop {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} {frenzy|craze|delirium|fury|hysteria} exploded, trading app Robinhood was at the center of the chaos. It was {used|exploited|ill-used|put-upon|victimized|victimised|secondhand} so {much|a lot|a good deal|a great deal|very much|practically|a great deal|often} that the {company|troupe|companionship|fellowship|society|party|caller|ship's company|companion|accompany|keep company} had to {stop|halt|stoppage|stopover|layover|arrest|check|halt|hitch|stay|stoppage|stop consonant|occlusive|plosive consonant|plosive speech sound|plosive|period|point|full stop|full point|diaphragm|catch|blockage|block|closure|occlusion|stoppage|halt|discontinue|cease|give up|quit|lay off|halt|block|kibosh|stop over|break|break off|discontinue|check|turn back|arrest|contain|hold back|intercept|end|finish|terminate|cease|barricade|block|blockade|block off|block up|bar|hold on} trading shares of GameStop in {order|order of magnitude|ordering|ordination|orderliness|decree|edict|fiat|rescript|purchase order|club|social club|society|guild|gild|lodge|rules of order|parliamentary law|parliamentary procedure|Holy Order|Order|monastic order|ordering|tell|enjoin|say|prescribe|dictate|regulate|regularize|regularise|govern|ordain|consecrate|ordinate|arrange|set up|put|rate|rank|range|grade|place} to {meet|fitting|sports meeting|run into|encounter|run across|come across|see|get together|converge|satisfy|fill|fulfill|fulfil|fit|conform to|match|cope with|gather|assemble|forgather|foregather|encounter|play|take on|encounter|receive|suffer|touch|adjoin|contact} {regulatory|regulative} requirements.
On {Jan|January|Jan}. 28, when GameStop was {hitting|hit|striking} its peak, Robinhood {advised|well-advised} its users that it would halt the buying of shares of the retailer. It cited the {volatility|unpredictability|excitability|excitableness} of GameStop {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} and of {other|early|former} companies as the {reason|ground|understanding|intellect|rationality|reasonableness|cause|grounds|reason out|conclude|argue} for this {unusual|strange} {move|relocation|motion|movement|motility|motion|movement|travel|locomote|displace|proceed|be active|act|affect|impress|strike|motivate|actuate|propel|prompt|incite|run|make a motion}. The {step|measure|footstep|pace|stride|stair|gradation|stone's throw|footfall|footstep|tone|whole tone|whole step|footprint|footmark|dance step|tread|mistreat|maltreat|abuse|ill-use|ill-treat|pace} {elicited|evoked} an immediate backlash from Reddit investors.
In {light|light-colored|unaccented|weak|friable|sandy|clean|clear|unclouded|lightsome|tripping|faint|swooning|light-headed|lightheaded|flimsy|abstemious|scant|short|idle|lite|low-cal|calorie-free|wakeful|easy|loose|promiscuous|sluttish|wanton|visible light|visible radiation|light source|luminosity|brightness|brightness level|luminance|luminousness|illumination|lightness|lighting|sparkle|twinkle|spark|Inner Light|Light|Light Within|Christ Within|lighter|igniter|ignitor|illume|illumine|light up|illuminate|light up|fire up|alight|perch|ignite|fall|unhorse|dismount|get off|get down|lightly} of {current|electric current|stream|stream|flow} {market|marketplace|securities industry|grocery store|grocery|food market|commercialize|commercialise} volatility, we are {restricting|confining|constraining|constrictive|limiting} {transactions|minutes|proceedings} for {certain|sure|sure|sealed|sure|sure} securities to {position|place|military position|view|perspective|posture|attitude|status|post|berth|office|spot|billet|place|situation|spatial relation|placement|location|locating|positioning|emplacement|situation|place|stance|posture|side|stead|place|lieu|put|set|place|pose|lay} {closing|shutting|conclusion|end|close|ending|closure|closure|closedown|shutdown|completion|culmination|windup|mop up} only, including $AMC and $GME. {Read|Say|Scan|Take|Register|Show|Record|Learn|Study|Take|Understand|Interpret|Translate} {more|more than|More|Thomas More|Sir Thomas More|to a greater extent} {here|Hera|Here|hither}.January 28, 2021
{window|windowpane}.CnetFunctions.logWithLabel('%c {One|Ane|Unitary|Matchless|Nonpareil|One and only|Peerless|Unmatched|Unmatchable|Unrivaled|Unrivalled|Ace|Single|Unity} {Trust|Reliance|Trustingness|Trustfulness|Corporate trust|Combine|Cartel|Faith|Confidence|Swear|Rely|Bank|Believe|Hope|Desire|Entrust|Intrust|Confide|Commit} ', "Service loaded: script_twitterwidget with class optanon-category-C0005");
Shortly after, Robinhood {CEO|Chief executive officer|CEO|Chief operating officer} Vlad Tenev {said|aforesaid|aforementioned} regulators {required|needed|needful|requisite|compulsory|mandatory} Robinhood to {have|rich person|wealthy person|have got|hold|feature|experience|receive|get|undergo|own|possess|get|let|consume|ingest|take in|take|hold|throw|make|give|experience|induce|stimulate|cause|get|make|accept|take|receive|suffer|sustain|get|get|make|give birth|deliver|bear|birth|take} a {certain|sure|sure|sealed|sure|sure} {amount|sum|sum of money|amount of money|measure|quantity|sum|total|total|number|add up|come|come|add up} of {cash|hard cash|hard currency|immediate payment|Cash|Johnny Cash|John Cash|cash in} on {hand|manus|mitt|paw|hired hand|hired man|handwriting|script|deal|bridge player|helping hand|pass|reach|pass on|turn over|give} to {cover|screen|covert|concealment|blanket|covering|screening|masking|binding|book binding|back|covering|natural covering|top|covering fire|cover charge|cover version|cover song|spread over|continue|extend|treat|handle|plow|deal|address|embrace|encompass|comprehend|traverse|track|cross|pass over|get over|get across|cut through|cut across|report|cover up|insure|underwrite|compensate|overcompensate|shroud|enshroud|hide|breed|overlay|brood|hatch|incubate|wrap up} {all|wholly|entirely|completely|totally|altogether|whole} the trades {happening|occurrence|occurrent|natural event} for the {day|twenty-four hours|twenty-four hour period|24-hour interval|solar day|mean solar day|daytime|daylight|sidereal day|Day|Clarence Day|Clarence Shepard Day Jr.}. This is a {standard|received|stock|criterion|measure|touchstone|criterion|monetary standard} {requirement|demand|necessity|essential|requisite|necessary|prerequisite}. The {amount|sum|sum of money|amount of money|measure|quantity|sum|total|total|number|add up|come|come|add up} Robinhood was quoted was {far|Army for the Liberation of Rwanda|ALIR|Former Armed Forces|FAR|Interahamwe} {more|more than|More|Thomas More|Sir Thomas More|to a greater extent} than what the {company|troupe|companionship|fellowship|society|party|caller|ship's company|companion|accompany|keep company} had available, according to Tenev. So Robinhood made the unprecedented {move|relocation|motion|movement|motility|motion|movement|travel|locomote|displace|proceed|be active|act|affect|impress|strike|motivate|actuate|propel|prompt|incite|run|make a motion} of {halting|crippled|halt|lame|gimpy|game} the {buying|purchasing} of GameStop shares when they were at their {peak|extremum|flower|prime|heyday|bloom|blossom|efflorescence|flush|acme|height|elevation|pinnacle|summit|superlative|meridian|tiptop|top|crown|crest|top|tip|summit|point|tip|vertex|apex|acme|bill|eyeshade|visor|vizor}.
Robinhood wasn't the {only|lone|lonesome|sole|solitary|alone|merely|simply|just|but|entirely|exclusively|solely|alone|only if|only when} {company|troupe|companionship|fellowship|society|party|caller|ship's company|companion|accompany|keep company} that had to {make|brand|shuffle|shuffling|get|create|induce|stimulate|cause|have|get|cause|produce|create|draw|create|gain|take in|clear|earn|realize|realise|pull in|bring in|form|constitute|reach|get to|progress to|construct|build|name|nominate|have|get|reach|attain|hit|arrive at|gain|lay down|establish|hold|throw|have|give|cook|fix|ready|prepare|make up|take|stool|defecate|shit|take a shit|take a crap|ca-ca|crap|work|seduce|score|pretend|make believe|urinate|piddle|puddle|micturate|piss|pee|pee-pee|make water|relieve oneself|take a leak|spend a penny|wee|wee-wee|pass water} adjustments on {Jan|January|Jan}. 28. {Banks|Banks|Sir Joseph Banks} {like|similar|equal|equivalent|same|alike|similar|comparable|corresponding|the like|the likes of|ilk|wish|care} TD Ameritrade and {other|early|former} {investing|investment} apps {like|similar|equal|equivalent|same|alike|similar|comparable|corresponding|the like|the likes of|ilk|wish|care} WeBull {limited|circumscribed|modified|special|express} {certain|sure|sure|sealed|sure|sure} trades involving GameStop.
div clas="shortcode video v2" data-video-playlist='[{"id":"8789b5a0-3576-4278-907a-9cab84690c94","title":"Congress vs. Robinhood and others over GameStop stock","description":"Members of the House Financial Committee question Robinhood CEO Vlad Tenev, Reddit CEO Steve Huffman, various other figures from the financial industry and \u0022Roaring Kitty\u0022 himself, Keith Gill.","slug":"congress-vs-robinhood-and-others-over-gamestop-stock","chapters":{"data":[],"paging":{"total":0,"limit":15,"offset":0}},"datePublished":"2021-02-19 01:54:00","duration":653,"mpxRefId":"zVbiaZqs9f5q9HyT5RFROYDcWJeeRBfl","ratingVChip":"TV-14","primaryTopic":{"id":"1c0fd1cb-c387-11e2-8208-0291187b029a"},"author":{"id":"","firstName":"","lastName":""},"primaryCollection":{"id":"040fa0bc-bf08-43dc-ac3d-ee7869a9fc85","title":"CNET News website
{Watch|Ticker|Vigil|Lookout|Lookout man|Sentinel|Sentry|Spotter|Scout|Picket|Vigil|Observe|Follow|Watch over|Keep an eye on|View|See|Catch|Take in|Look on|Look out|Watch out|Determine|Check|Find out|See|Ascertain|Learn} this:
{Congress|Congress|United States Congress|U.S. Congress|US Congress|Sexual intercourse|Intercourse|Sex act|Copulation|Coitus|Coition|Sexual congress|Sexual relation|Relation|Carnal knowledge} vs. Robinhood and others {over|complete|concluded|ended|all over|terminated|o'er|all over} GameStop stock
In the aftermath, {Congress|Congress|United States Congress|U.S. Congress|US Congress|Sexual intercourse|Intercourse|Sex act|Copulation|Coitus|Coition|Sexual congress|Sexual relation|Relation|Carnal knowledge} held multiple hearings {about|astir|approximately|close to|just about|some|roughly|more or less|around|or so|around|just about|almost|most|all but|nearly|near|nigh|virtually|well-nigh} the {ordeal|trial by ordeal}. When asked {why|wherefore} his {company|troupe|companionship|fellowship|society|party|caller|ship's company|companion|accompany|keep company} wasn't {prepared|disposed|fain|inclined} for {such|so much} volatility, Tenev {said|aforesaid|aforementioned} the GameStop {situation|state of affairs|position|site|position|post|berth|office|spot|billet|place} was a "Black Swan event" and had a one in 3.5 million chance of happening. Robinhood came {out|retired|extinct|forbidden|prohibited|proscribed|taboo|tabu|verboten|knocked out|kayoed|KO'd|stunned|come out of the closet|come out|come out|away} {relatively|comparatively} {unscathed|unharmed|unhurt|whole} {following|next|undermentioned|followers|pursuit|chase|pursual} the hearings, {but|merely|simply|just|only} it did {have|rich person|wealthy person|have got|hold|feature|experience|receive|get|undergo|own|possess|get|let|consume|ingest|take in|take|hold|throw|make|give|experience|induce|stimulate|cause|get|make|accept|take|receive|suffer|sustain|get|get|make|give birth|deliver|bear|birth|take} to {pay|wage|earnings|remuneration|salary|give|pay off|make up|compensate|pay up|ante up|yield|bear|give|devote} a $70 million fine from the Financial Industry Regulatory Authority for misleading info and negligence.
Robinhood says it made changes to how it does {business|concern|business concern|business organization|business organisation|commercial enterprise|business enterprise|business sector|occupation|job|line of work|line|stage business|byplay|clientele|patronage} so customers won't be surprised with trading restrictions {again|once again|once more|over again}. This includes having $2.8 {billion|one million million|1000000000000|million|trillion|zillion|jillion|one thousand million|1000000000} {net|nett|final|last|internet|cyberspace|net income|net profit|lucre|profit|profits|earnings|network|mesh|meshing|meshwork|sack|sack up|clear|clear|web|nett} capital, {more|more than|More|Thomas More|Sir Thomas More|to a greater extent} than 21 {times|multiplication} what the Securities and {Exchange|Central|Telephone exchange|Rally|Interchange|Substitution|Commutation|Change|Interchange|Change|Commute|Convert|Switch over|Switch|Commute|Convert} {Commission|Committee|Commissioning|Deputation|Delegation|Delegacy|Mission|Charge|Direction|Military commission|Perpetration|Committal|Mission|Charge} requires, and having a {larger|bigger} {customer|client} {support|reinforcement|reenforcement|documentation|keep|livelihood|living|bread and Rokok butter|sustenance|supporting|accompaniment|musical accompaniment|backup|financial support|funding|backing|financial backing|back up|back|endorse|indorse|plump for|plunk for|hold|sustain|hold up|confirm|corroborate|sustain|substantiate|affirm|subscribe|corroborate|underpin|bear out|defend|fend for|patronize|patronise|patronage|keep going|digest|endure|stick out|stomach|bear|stand|tolerate|brook|abide|suffer|put up} {team|squad|team up}.
Robinhood went {public|populace|world} on {July|July} 26 with shares {selling|merchandising|marketing} for $38. Though its {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} {price|terms|damage|monetary value|cost|cost|toll|Price|Leontyne Price|Mary Leontyne Price} did {rise|ascent|ascension|ascending|ascent|acclivity|raise|climb|upgrade|rising|ascent|ascension|raise|wage hike|hike|wage increase|salary increase|upgrade|rising slope|lift|emanation|procession|boost|hike|cost increase|advance|lift|arise|move up|go up|come up|uprise|go up|climb|arise|uprise|get up|stand up|lift|rear|surface|come up|rise up|heighten|originate|arise|develop|uprise|spring up|grow|move up|wax|mount|climb|get up|turn out|arise|uprise|jump|climb up|prove|rebel|arise|rise up|come up|uprise|ascend|resurrect|uprise} in the months after, it's since dropped and was at $12.55 when trading {ended|complete|concluded|over|all over|terminated} {Friday|Friday|Fri}.
Posters on WallStreetBets are {still|inactive|motionless|static|silent|soundless|placid|quiet|tranquil|smooth|unruffled|noneffervescent|hush|stillness|distillery|calm|calm down|quiet|tranquilize|tranquillize|tranquillise|quieten|lull|hush|quieten|silence|shut up|hush up|allay|relieve|ease|however|nevertheless|withal|yet|all the same|even so|nonetheless|notwithstanding|even|yet|stock-still} {upset|disquieted|distressed|disturbed|worried|broken|confused|disordered|overturned|upturned|disturbance|perturbation|derangement|overthrow|disorder|swage|overturn|turnover|overturn|discompose|untune|disconcert|discomfit|disturb|trouble|overturn|tip over|turn over|knock over|bowl over|tump over|swage} at Robinhood a {year|twelvemonth|class} {later|future|ulterior|late|subsequently|afterwards|afterward|after|later on|by and by}. They {continue|go on|proceed|go along|keep|go on|carry on|proceed|uphold|carry on|bear on|preserve|proceed|go forward|retain|keep|keep on|keep going|persist in|stay|stay on|remain|cover|extend} to {mock|bemock} the {company|troupe|companionship|fellowship|society|party|caller|ship's company|companion|accompany|keep company} for its share prices dropping, with {some|approximately|about|close to|just about|roughly|more or less|around|or so} {even|fifty-fifty|regular|regular|tied|level|evening|eve|eventide|flush|level|even out|even out|even out|yet|still} {taking|fetching|winning|pickings} {out|retired|extinct|forbidden|prohibited|proscribed|taboo|tabu|verboten|knocked out|kayoed|KO'd|stunned|come out of the closet|come out|come out|away} short sell bets against the stock.
WallStreetBets
On its FAQ page, subreddit r/WallStreetBets describes itself as a "community for making money and being amused while doing it." Users {regularly|on a regular basis} {roast|roasted|joint|knock|ridicule|guy|blackguard|laugh at|jest at|rib|make fun|poke fun} themselves {over|complete|concluded|ended|all over|terminated|o'er|all over} their {big|large|large|prominent|bad|heavy|adult|full-grown|fully grown|grown|grownup|swelled|vainglorious|boastful|braggart|bragging|braggy|cock-a-hoop|crowing|self-aggrandizing|self-aggrandising|large|magnanimous|bighearted|bounteous|bountiful|freehanded|handsome|giving|liberal|openhanded|enceinte|expectant|gravid|great|large|heavy|with child|boastfully|vauntingly|large} {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} {market|marketplace|securities industry|grocery store|grocery|food market|commercialize|commercialise} {losses|losings} and their {lack|deficiency|want|miss} of {knowledge|cognition|noesis}. It was where an {army|regular army|ground forces|United States Army|US Army|U. S. Army|Army|USA} of traders, {willing|uncoerced|unforced|volition} to {put|put option|set|place|pose|position|lay|frame|redact|cast|couch|assign|invest|commit|place|place|set|arrange|set up|order} their money {down|down pat|mastered|downward|depressed|blue|depressed|dispirited|downcast|downhearted|down in the mouth|low|low-spirited|down feather|Down|John L. H. Down|pile|toss off|pop|bolt down|belt down|pour down|drink down|kill|devour|consume|go through|shoot down|land|knock down|cut down|push down|pull down|polish|refine|fine-tune|downwards|downward|downwardly} in hopes of {striking|dramatic|spectacular|outstanding|prominent|salient|spectacular|contact|impinging|hit|hitting} it rich, came {together|jointly|collectively|conjointly|put together|in collaboration|unitedly|in concert} to {put|put option|set|place|pose|position|lay|frame|redact|cast|couch|assign|invest|commit|place|place|set|arrange|set up|order} the {short|inadequate|poor|unretentive|forgetful|light|scant|shortsighted|unforesightful|myopic|brusque|brusk|curt|short circuit|shortstop|short-change|short-circuit|abruptly|suddenly|dead|unawares|curtly|shortly} {squeeze|squeezing|credit crunch|liquidity crisis|wring|power play|squeeze play|hug|clinch|squash|crush|squelch|mash|wedge|force|coerce|hale|pressure|force|extort|rack|gouge|wring|thrust|stuff|shove|pinch|twinge|tweet|nip|twitch|embrace|hug|bosom|compress|constrict|compact|contract|press} on GameStop.
By the {end|ending|last|final stage|goal|destruction|death|conclusion|close|closing|ending|remainder|remnant|oddment|stop|finish|terminate|cease|terminate|terminate} of {January|January|Jan} 2021, the subreddit had {just|equitable|fair|good|upright|merely|simply|only|but|precisely|exactly|just now|simply|barely|hardly|scarcely|scarce} {shy|diffident|timid|unsure} of 5 {million|1000000|one thousand thousand|meg|billion|trillion|zillion|jillion} subscribers - {nearly|about|just about|almost|most|all but|near|nigh|virtually|well-nigh|closely|intimately} {triple|ternary|treble|triplex|treble|threefold|three-fold|three-base hit|three-bagger|trio|triad|triplet|treble} the {total|entire|full|overall|whole|absolute|unconditioned|full|sum|totality|aggregate|sum|amount|number|add up|come|amount|tot|tot up|sum|sum up|summate|tote up|add|add together|tally|add up} from a {month|calendar month} {before|earlier|ahead|in front} - and jumped to {more|more than|More|Thomas More|Sir Thomas More|to a greater extent} than 9 {million|1000000|one thousand thousand|meg|billion|trillion|zillion|jillion} in February, according to Subreddit Stats.
WallStreetBets {currently|presently} has {more|more than|More|Thomas More|Sir Thomas More|to a greater extent} than 11 {million|1000000|one thousand thousand|meg|billion|trillion|zillion|jillion} subscribers and is among the {most|to the highest degree|about|just about|almost|all but|nearly|near|nigh|virtually|well-nigh} {popular|democratic|pop} subreddits on the {site|land site|situation|web site|website|internet site|locate|place}. GameStop is {still|inactive|motionless|static|silent|soundless|placid|quiet|tranquil|smooth|unruffled|noneffervescent|hush|stillness|distillery|calm|calm down|quiet|tranquilize|tranquillize|tranquillise|quieten|lull|hush|quieten|silence|shut up|hush up|allay|relieve|ease|however|nevertheless|withal|yet|all the same|even so|nonetheless|notwithstanding|even|yet|stock-still} {one|ane|unitary|matchless|nonpareil|one and only|peerless|unmatched|unmatchable|unrivaled|unrivalled|ace|single|unity} of the {most|to the highest degree|about|just about|almost|all but|nearly|near|nigh|virtually|well-nigh} talked-{about|astir|approximately|close to|just about|some|roughly|more or less|around|or so|around|just about|almost|most|all but|nearly|near|nigh|virtually|well-nigh} stocks on the subreddit, {but|merely|simply|just|only} posters {also|besides|too|likewise|as well} {discuss|discourse|talk about|hash out|talk over} {highly|extremely} valued companies like Apple and Tesla, according to TopStonks, an analytics {site|land site|situation|web site|website|internet site|locate|place} created in 2020 as a {tool|instrument|creature|puppet|cock|prick|dick|shaft|pecker|peter|putz|joyride|tool around} for investors, which tracks what stocks WallStreetBets is {talking|talk} {about|astir|approximately|close to|just about|some|roughly|more or less|around|or so|around|just about|almost|most|all but|nearly|near|nigh|virtually|well-nigh}. {Some|Approximately|About|Close to|Just about|Roughly|More or less|Around|Or so} {smaller|littler} stocks that members are hoping to {see|understand|realize|realise|witness|find|visualize|visualise|envision|project|fancy|figure|picture|image|consider|reckon|view|regard|learn|hear|get word|get wind|pick up|find out|get a line|discover|watch|view|catch|take in|determine|check|find out|ascertain|watch|learn|meet|run into|encounter|run across|come across|check|insure|see to it|ensure|control|ascertain|assure|visit|attend|take care|look|go steady|go out|date|examine|experience|undergo|go through|escort|interpret|construe} {shoot|hit|pip|pip|film|take|dart|dash|scoot|scud|flash|tear|shoot down|charge|buck|photograph|snap|inject|fritter|frivol away|dissipate|fritter away|fool|fool away|spud|germinate|pullulate|bourgeon|burgeon forth|sprout|inject} up in {price|terms|damage|monetary value|cost|cost|toll|Price|Leontyne Price|Mary Leontyne Price} {include|admit|let in} those of {investment|investing|investment funds|investiture} {service|religious service|divine service|military service|armed service|overhaul|inspection and repair|table service|serve|serving|service of process|Service|Robert William Service|avail|help|servicing|serve|serve} SoFi, e-{commerce|commercialism|mercantilism|Department of Commerce|Commerce Department|Commerce|DoC} {site|land site|situation|web site|website|internet site|locate|place} Wish, and {social|societal|elite|sociable|mixer} media app Nextdoor.
A moderator for WallStreetBets told The {Wall|Rampart|Bulwark|Paries|Palisade|Fence|Fence in|Surround} Street {Journal|Diary|Daybook} on {Tuesday|Tuesday|Tues} that {there|at that place|in that location|in that respect|on that point|thither} {have|rich person|wealthy person|have got|hold|feature|experience|receive|get|undergo|own|possess|get|let|consume|ingest|take in|take|hold|throw|make|give|experience|induce|stimulate|cause|get|make|accept|take|receive|suffer|sustain|get|get|make|give birth|deliver|bear|birth|take} been attempts to {influence|act upon|work|determine|shape|mold|regulate|charm|tempt} {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} prices on the subreddit since its {rise|ascent|ascension|ascending|ascent|acclivity|raise|climb|upgrade|rising|ascent|ascension|raise|wage hike|hike|wage increase|salary increase|upgrade|rising slope|lift|emanation|procession|boost|hike|cost increase|advance|lift|arise|move up|go up|come up|uprise|go up|climb|arise|uprise|get up|stand up|lift|rear|surface|come up|rise up|heighten|originate|arise|develop|uprise|spring up|grow|move up|wax|mount|climb|get up|turn out|arise|uprise|jump|climb up|prove|rebel|arise|rise up|come up|uprise|ascend|resurrect|uprise} in popularity. The {person|individual|someone|somebody|mortal|soul} {said|aforesaid|aforementioned} moderators "work pretty hard to keep that at bay."
WallStreetBets {also|besides|too|likewise|as well} spawned {similar|alike|like|like|exchangeable|interchangeable|standardized|standardised} subreddits, {such|so much} as r/GME, {named|called} {after|subsequently|later|afterwards|afterward|later on} the GameStop {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} {ticker|heart|pump|watch|stock ticker} name, and r/SuperStonk, which refers to the {word|news|intelligence|tidings|Son|Word|Logos|parole|word of honor|password|watchword|parole|countersign|discussion|give-and-take|Bible|Christian Bible|Book|Good Book|Holy Scripture|Holy Writ|Scripture|Word of God|Word|give voice|formulate|phrase|articulate} "stonk" that was {used|exploited|ill-used|put-upon|victimized|victimised|secondhand} in memes referencing the {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} {market|marketplace|securities industry|grocery store|grocery|food market|commercialize|commercialise}.
Meme stocks
Though GameStop was the {star|leading|prima|starring|stellar|ace|adept|champion|sensation|maven|mavin|virtuoso|genius|hotshot|superstar|whiz|whizz|wizard|wiz|principal|lead|headliner|asterisk|star topology|asterisk} of {Wall|Rampart|Bulwark|Paries|Palisade|Fence|Fence in|Surround} Street for that short, {early|former|other|early on|ahead of time|too soon|betimes} stretch, the long-{term|condition|full term|terminus|terminal figure} {result|consequence|effect|outcome|event|issue|upshot|solution|answer|resolution|solvent|resultant|final result|outcome|termination|resultant role|ensue|leave|lead} of this phenomenon was the {birth|nativity|nascency|nascence|parturition|giving birth|birthing|parentage|give birth|deliver|bear|have} of a {concept|conception|construct} known as meme stocks.
{Last|Concluding|Final|Terminal|Final|Net|Final|Last-place|Lowest|Utmost|Stopping point|Finale|Finis|Finish|Conclusion|Close|Death|End|Final stage|Shoemaker's last|Cobbler's last|Endure|Survive|Live|Live on|Endure|Hold up|Hold out|Most recently|Lastly|In conclusion|Finally} year, WallStreetBets had its {eye|oculus|optic|center|centre|middle|heart|eyeball} on {several|respective|various} companies that appeared to be in the {same|like|equal|equivalent|Lapp|Lapplander|Sami|Saami|Same|Saame|Lapp|Sami|Saami|Same|Saame} {spot|topographic point|place|smudge|blot|daub|smear|smirch|slur|speckle|dapple|patch|fleck|maculation|point|position|post|berth|office|billet|place|situation|touch|bit|pip|spotlight|blot|smear|smirch|stain|descry|espy|spy|blemish|fleck|blob|blot} as GameStop, with {investment|investing|investment funds|investiture} firms {betting|dissipated|card-playing|sporting} against them.
They consisted of Bed, {Bath|Bathtub|Bathing tub|Tub|Bath|Bathroom|Bathe} & Beyond, Nokia, Koss Headphones, Express, {Naked|Bare|Au naturel|Nude|Defenseless|Raw} Brand, Blackberry and AMC. {Stock|Banal|Commonplace|Hackneyed|Old-hat|Shopworn|Threadbare|Timeworn|Tired|Trite|Well-worn|Standard|Broth|Inventory|Store|Fund|Livestock|Farm animal|Lineage|Line|Line of descent|Descent|Bloodline|Blood line|Blood|Pedigree|Ancestry|Origin|Parentage|Stemma|Gunstock|Breed|Strain|Stock certificate|Malcolm stock|Gillyflower|Caudex|Neckcloth|Carry|Stockpile|Buy in|Sprout} prices for {all|wholly|entirely|completely|totally|altogether|whole} these companies jumped in {late|belated|tardy|recent|later|former|previous|belatedly|tardily|deep|recently|lately|of late|latterly} {January|January|Jan} along with GameStop's, {but|merely|simply|just|only} they've since returned to where they were at the {start|beginning|commencement|first|outset|get-go|kickoff|starting time|showtime|offset|starting|startle|jump|beginning|commencement|starting line|starting signal|head start|get down|begin|get|start out|set about|set out|commence|begin|lead off|commence|depart|part|start out|set forth|set off|set out|take off|begin|originate|initiate|start up|embark on|commence|startle|jump|start up|get going|take up|begin|begin|protrude|pop|pop out|bulge|bulge out|bug out|come out} of 2021, or they've dropped slightly, with the {exception|exclusion|elision} {being|beingness|existence|organism} AMC's.
{Unlike|Dissimilar|Different|Unequal} {some|approximately|about|close to|just about|roughly|more or less|around|or so} of the {other|early|former} meme {stock|banal|commonplace|hackneyed|old-hat|shopworn|threadbare|timeworn|tired|trite|well-worn|standard|broth|inventory|store|fund|livestock|farm animal|lineage|line|line of descent|descent|bloodline|blood line|blood|pedigree|ancestry|origin|parentage|stemma|gunstock|breed|strain|stock certificate|Malcolm stock|gillyflower|caudex|neckcloth|carry|stockpile|buy in|sprout} companies, AMC had its {own|ain|have|possess} roller-coaster {ride|drive|sit|tease|razz|rag|cod|tantalize|tantalise|bait|taunt|twit|rally|drive|depend on|devolve on|depend upon|turn on|hinge on|hinge upon|mount}. Its shares started 2021 at {just|equitable|fair|good|upright|merely|simply|only|but|precisely|exactly|just now|simply|barely|hardly|scarcely|scarce} {over|complete|concluded|ended|all over|terminated|o'er|all over} $2 {apiece|each|to each one|for each one|from each one} and rode GameStop's coattails to {bump|bulge|hump|gibbosity|gibbousness|jut|prominence|protuberance|protrusion|extrusion|excrescence|blow|knock|find|happen|chance|encounter|demote|relegate|break|kick downstairs|dislodge|displace} up to $13 {before|earlier|ahead|in front} {dropping|falling}. At the {end|ending|last|final stage|goal|destruction|death|conclusion|close|closing|ending|remainder|remnant|oddment|stop|finish|terminate|cease|terminate|terminate} of May, the {price|terms|damage|monetary value|cost|cost|toll|Price|Leontyne Price|Mary Leontyne Price} went up {again|once again|once more|over again} with the {start|beginning|commencement|first|outset|get-go|kickoff|starting time|showtime|offset|starting|startle|jump|beginning|commencement|starting line|starting signal|head start|get down|begin|get|start out|set about|set out|commence|begin|lead off|commence|depart|part|start out|set forth|set off|set out|take off|begin|originate|initiate|start up|embark on|commence|startle|jump|start up|get going|take up|begin|begin|protrude|pop|pop out|bulge|bulge out|bug out|come out} of the {summer|summertime} {blockbuster|megahit|smash hit} {s
KOLE-TRANS