"The power of the "three R's" (Robinhood, Retail, Reddit) are back in play," said Neil Campling, head of technology research at Mirabaud Securities
The sharp moves surprised the market, which thought the excitement behind the recent Reddit-fueled rally had died down
Online discussion forum Reddit suffered a major outage and users were unable to load the website that showed a blank white page for nearly an hour.
GameStop shares were up 60% after hours at around $146, following a 103% rise during the day's trading
NEW YORK (Reuters) - GameStop Corp shares more than doubled in afternoon trading on Wednesday, surprising those who thought the video game retailer's stock price would stabilize after recent hearings in the U.S. Congress into the fierce rally and steep dive that upended Wall Street in January.
GameStop said Bell's resignation was not due to any disagreement with the company relating to its operations, including accounting principles and practices
Last month's Reddit rally drove massive volatility in GameStop and other shares, prompting the post-trade "clearing" houses that guarantee trades to call for billions of dollars in collateral
The witness list was announced on Friday by Congresswoman Maxine Waters and includes Keith Gill, who also goes by Roaring Kitty
GameStop's market value soared from $1.4 billion on Jan. 11 to a peak of $33.7 billion on Jan. 28
Swaggystocks, which aggregates sentiment on shares talked about in the WallStreetBets forum, showed Tilray was the most upvoted stock in the group
Online public discussion platform Reddit has raised $250 million in the new Series E funding round.
The social media company was valued at $3 billion following a funding round in February 2019
The WallStreetBets fight is the latest twist in the saga of an online army of investors who have roiled Wall Street over the past 10 days
Robinhood's website showed that the trading limit on GameStop's shares was set at 500, while for AMC the limit was set at 5,500 shares
The core infrastructure of financial markets had proven resilient during the high volatility and heavy trading volume around GameStop and other stocks
Analysts at Barclays Capital wrote that the GameStop episode is "a wake-up call that is likely to permanently affect the business models of institutional investors
The so-called "Reddit rally" cooled again in after hours trade, as GameStop and AMC Entertainment, the main targets hyped on investment forums, fell
The problem with treating the GameStop saga as an Occupy Wall Street movement 2.0 is that it ignores some fundamental differences
Small investors' participation in stock markets has exploded over the past year
The capital raised would be separate from the $3.4 billion in financing that Robinhood announced on Monday it had secured from its investors since Jan. 29