GameStop stock is surging again, but Reddit isn’t the reason this time

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The stock more than doubled yesterday–the question is, “Why?” For those thinking the GameStop (GME) stock surge was over, think again. GameStop shares have had an incredible 24 hours. Yesterday the stock surged over 103% to $91.71 per share. Will that doubling happen again today? You never know, but things are moving in that direction. As of the time of this writing GameStop shares are up 83% in pre-market trading. Read Full Story

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The GameStop saga feels like class warfare, and it’s far from over

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The run on GameStop stock is fueled by some of the same populist rage that has spurred people to political action on social networks. None of this could have happened 30 years ago, in pre-internet times. A group of small investors on a subreddit called r/WallStreetBets banded together to buy stock in gaming retailer GameStop. They hoped that together they could elevate the stock price so that short sellers , including hedge funds and institutional investors, would ultimately lose money. Read Full Story

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The internet offers hedge fund managers some hilarious advice, familiar to millennials

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This whole GameStop thing has been brutal for hedge fund managers. Have they considered paying down debt instead of living it up? It takes a certain amount of financial acumen to understand exactly what happened earlier this eventful week on Wall Street . The simplest explanation, however, is that a bunch of Redditors reenacted the climax of Trading Places , using stock for the still-chugging-along Donkey Kong retailer, GameStop. Read Full Story

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