It was like a hurricane. Amateur investors, targeting stocks that the professionals had written off as dead, offered stocks in a growing number of companies. By the end of the week, GameStop was up 400 percent while AMC Entertainment was up 280 percent. At the center of it all was a battle between big and small, Wall Street versus Main Street, Robinhood Army versus hedge funds.
The drama had caught the attention of the Securities and Exchange Commission, Alexandria Ocasio-Cortez, and Ted Cruz, and elected attorneys general in Texas and New York. It was bigger than the markets.
Find out more about our reporting here:
The Silicon Valley start-up that caused the chaos on Wall Street: Robinhood presented itself to investors as the antithesis of Wall Street. It wasn’t said that it relied solely on Wall Street either. Last week, the two realities collided.
The outsiders shake Wall Street:: They are young, they are fearless, and they force everyone to pay attention.
Robinhood, in need of cash, is raising $ 1 billion from its investors: The free trading app popular with young investors has been burdened by the high volume of trading in stocks like GameStop.
Get Smarter: What You Need To Know
How to Stay Cool in the GameStop Market: Signs of irrational exuberance abound. Stay sober and invest long-term, says our columnist.
So you’ve just made a lot of money playing GameStop. Don’t forget taxes: Some investors may have made tens of thousands of dollars in profits. Depending on when they sell the stock, they could owe high capital gains taxes.
Behind the wild ride of the stock market: It wasn’t just GameStop. The stocks of AMC Entertainment, American Airlines, Nokia and Tootsie Roll Industries rose last week and fell briefly.
4 Things to know about GameStop Insanity: It was a strange time in the stock market when a video game retailer suddenly became the focus of attention.
How options trading could fuel a stock market bubble: An increase in individual investors is betting that stocks will rise. This craze has a growing impact on the regular stock market.
