This article is from the source 'rtcom' and was first published or seen on . It last changed over 40 days ago and won't be checked again for changes.
You can find the current article at its original source at https://www.rt.com/business/514061-wall-street-sharks-gamestop-win/
The article has changed 3 times. There is an RSS feed of changes available.
| Version 0 | Version 1 |
|---|---|
| GameStop investor clash will be won by Wall Street sharks because the game is rigged – analysts | GameStop investor clash will be won by Wall Street sharks because the game is rigged – analysts |
| (7 months later) | |
| The GameStop saga has shaken the entire world of financial markets, remaining one of the hottest topics for media outlets across the globe over the past week. | The GameStop saga has shaken the entire world of financial markets, remaining one of the hottest topics for media outlets across the globe over the past week. |
| The story of the American video game retailer went viral after a group of Reddit users launched a flash-mob, gobbling up the firm’s shares. The campaign resulted in GameStop’s stock price growing over 1,800 percent. | The story of the American video game retailer went viral after a group of Reddit users launched a flash-mob, gobbling up the firm’s shares. The campaign resulted in GameStop’s stock price growing over 1,800 percent. |
| The move washed billions of dollars out of the biggest hedge funds, which were short-selling the stock. Short-sellers commonly borrow shares in failing companies, hoping that, as the price falls further, they’ll sell the borrowed shares cheaper, pay back their lenders, and keep the profit. | The move washed billions of dollars out of the biggest hedge funds, which were short-selling the stock. Short-sellers commonly borrow shares in failing companies, hoping that, as the price falls further, they’ll sell the borrowed shares cheaper, pay back their lenders, and keep the profit. |
| RT talked to market analysts to find out what impact the battle of amateur traders and big investors may have on the financial markets and who will come out on top. | RT talked to market analysts to find out what impact the battle of amateur traders and big investors may have on the financial markets and who will come out on top. |
| “This all-in wrestling will meet with mixed success,” Petr Pushkarev, chief analyst at TeleTrade told RT. “Sooner or later, financial sharks will win, as big hedge fund managers don’t want lose billions due to flash-mobs.” | “This all-in wrestling will meet with mixed success,” Petr Pushkarev, chief analyst at TeleTrade told RT. “Sooner or later, financial sharks will win, as big hedge fund managers don’t want lose billions due to flash-mobs.” |
| The expert highlighted that the US authorities would protect the interests of big investors. The latest artificially accelerated rally has already attracted the attention of US regulators and politicians who took steps to promptly halt trading. | The expert highlighted that the US authorities would protect the interests of big investors. The latest artificially accelerated rally has already attracted the attention of US regulators and politicians who took steps to promptly halt trading. |
| “The financial Gulliver will definitely try hard to teach the mob of Lilliputs a lesson, to cause painful losses compared to super-profits gained by the lucky participants of this game,” he said. | “The financial Gulliver will definitely try hard to teach the mob of Lilliputs a lesson, to cause painful losses compared to super-profits gained by the lucky participants of this game,” he said. |
| US regulators may outlaw such flash-mob activity by amateur investors in the future, according to senior analyst at Forex Optimum, Aleksander Rozman. | US regulators may outlaw such flash-mob activity by amateur investors in the future, according to senior analyst at Forex Optimum, Aleksander Rozman. |
| “They will find the ‘guilty party’, accuse them of driving up prices of GameStop shares, and punish them publicly,” the expert said, stressing that a scapegoat has already appeared. | “They will find the ‘guilty party’, accuse them of driving up prices of GameStop shares, and punish them publicly,” the expert said, stressing that a scapegoat has already appeared. |
| Earlier, Reuters reported that a 34-year-old YouTube streamer helped drive a surge in the shares of GameStop. Keith Patrick Gill is a financial advisor from Massachusetts and until recently worked for insurance giant MassMutual. | Earlier, Reuters reported that a 34-year-old YouTube streamer helped drive a surge in the shares of GameStop. Keith Patrick Gill is a financial advisor from Massachusetts and until recently worked for insurance giant MassMutual. |
| For more stories on economy & finance visit RT's business section | For more stories on economy & finance visit RT's business section |
| Dear readers and commenters, | |
| We have implemented a new engine for our comment section. We hope the transition goes smoothly for all of you. Unfortunately, the comments made before the change have been lost due to a technical problem. We are working on restoring them, and hoping to see you fill up the comment section with new ones. You should still be able to log in to comment using your social-media profiles, but if you signed up under an RT profile before, you are invited to create a new profile with the new commenting system. | |
| Sorry for the inconvenience, and looking forward to your future comments, | |
| RT Team. |