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Tech NewsInternetAMC’s CEO Apparently Didn’t Bother to Put on Pants for This YouTube Interview
AMC is the latest meme stock darling for hordes of online investors, and CEO Adam Aron has been leaning heavily into the company’s newfound virality. However, I doubt he ever expected to become a meme himself, as was the case this week after he appeared to be pantless during a live interview with a YouTuber. … Continued
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Tech NewsAMC Belongs to the People Now
We’re nearly halfway through the year and it looks like the meme stocks haven’t ended their run just yet: As of Wednesday, shares of movie theater chain AMC Entertainment were up as much as 3,200 on the heels of a newly launched initiative to provide free popcorn to shareholders. AMC’s stock price nearly doubled on … Continued
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Tech NewsDogecoin Is Literally Going to the Moon
Elon Musk may have sent Dogecoin’s stock plummeting after he bombed on Saturday Night Live on May 8, but that doesn’t mean the Tesla and SpaceX CEO isn’t doing his part to boost the volatile cryptocurrency. On Monday, CNN reported that SpaceX had committed to accepting a payment solely comprised of Dogecoin from the Canada-based … Continued
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Tech NewsWallStreetBets Does Not Bow to Crypto Wave
For about 20 hours, moderators of the Reddit r/WallStreetBets opened the floodgates to crypto, a topic that’s been banned on the forum for years. What does it mean that the savviest meme stock buccaneers in the universe have surrendered to the unstoppable onslaught of crypto boobs and their mindless chants of DOGE DOGE DOGE??? Last … Continued
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Tech News9.5 Million Users Traded Cryptocurrency on Robinhood in First Quarter of 2021
Roughly 9.5 million people traded cryptocurrency on the Robinhood app in the first quarter of 2021, the company announced in a new blog post on Thursday. The number is significantly higher than the last quarter of 2020, when just 1.7 million people traded cryptocurrencies on Robinhood, according to the company. The news from Robinhood comes … Continued
By Matt Novak -
Tech NewsRobinhood Has Privately Filed to Go Public
Commission-free stock trading app Robinhood said that it had confidentially filed for an initial public offering on Tuesday, apparently ready to capitalize on all of the positive buzz surrounding democratized finance. After Bloomberg first reported the news, Robinhood confirmed in a statement that it had submitted its filing U.S. Securities and Exchange Commission. A person … Continued
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EartherWallStreetsBets Is Sending Gorilla Conservation to the Moon 🚀🚀🚀🚀🚀🚀
The WallStreetBets subreddit has helped drive $383,000 in donations to a gorilla conservation organization this week. The preceding sentence would have been barely intelligible even just last December, and yet here we are. To quickly recap: In January, folks on the subreddit r/WallStreetBets captured headlines for buying up shares in GameStop’s stock as well as other oft-memed … Continued
By Dharna Noor -
Tech News
Federal and State Regulators Probe Robinhood Over Meme Stock Trading Restrictions
U.S. regulators are investigating Robinhood after it temporarily blocked users from purchasing so-called meme stocks on its stock trading app amid the Reddit-fueled short squeeze earlier this year. Robinhood has received inquiries from the U.S. Securities and Exchange Commission’s Division of Examinations, the Financial Industry Regulatory Authority, and the New York Attorney General’s Office, among … Continued
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Tech NewsGameStop’s Doing a Thing Again
GameStop, little diva that she is, is in the spotlight once more after shares of the company skyrocketed more than 100% on Wednesday. In the last 30 minutes of the day’s trading, the American video game retailer’s shares were up by a whopping 103.9% — a shocking rally that resulted in trading on the company’s … Continued
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Tech NewsBarclay’s Analysts Bet Tesla Stock Is Being Propped Up By r/WallStreetBets
Tesla might be the beneficiary of the GameStonks effect, at least according to analysts for the British bank and investment firm Barclay’s. CNBC reported that Barclay’s told clients in a note on Tuesday that Tesla shares—which hit a peak of nearly $900 a share in January and are now hovering around $680—appear to be at … Continued
By Tom McKay -
Tech NewsI Waited Five Hours for AOC to Ask the Robinhood Guy a Question, and This Is What I Got
Those of us who sat through yesterday’s five-and-a-half-hour House Committee on Financial Services hearing on the GameStop short squeeze had maybe, foolishly, hoped against hope to see some cold hard accountability. We came to hear Robinhood’s CEO explain why, at the peak of the GameStop run, the trading app shut out its users from buying … Continued
