In addition to going after big gains, the Reddit traders are raging against a system that they perceive as rigged to make the elite wealthier, while keeping everyone else on the outside.
Founder of Reddit s WallSteetBets Jaime Rogozinski sells the movie rights to his life story to Brett Ratner for a payment in the low six figures
Jaime Rogozinski created the Reddit forum which spearheaded the campaign to drive up GameStop shares in a battle against hedge fund short-sellers
He has now sold rights to his life story to Brett Ratner and RatPac Entertainment
The actual amount of the sell is unclear but it was in the low six figures
RatPac producers say the story will first be told in the form of a movie
Then, the producers said, his story will move on to podcasts and other mediums
“I haven’t gotten too much sleep. I’ve never done anything like this before,” says Lin, 21, who put $30,000 in AMC options last Monday and bought 35 shares of GameStop in the frenzy.
Lin, who works as a purchaser for a food distribution company, said his brokerage account peaked at nearly $280,000.
“Zoom classes have made it very easy for me to monitor the stocks all day,” Lin adds.
Buy, sell or hold?
Although GameStop shares lost ground this week following an astonishing rise, May and others are still committed to holding their positions even as the stock shed more than two-thirds of its value in the past two days.
This is life-changing : Meet the Redditors behind the GameStop saga Jessica Menton, USA TODAY
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Gavin May can’t help but constantly check his Robinhood app every few minutes following the GameStop mania.
Last Monday, his $6,000 investment in the stock market, which includes a $5,400 position in the video game retailer that he s built in recent months, broke $10,000. By last Wednesday, it peaked over $100,000.
“This is life-changing,” says May, 19, who is a freshman at Loyola Marymount University in Los Angeles. “I was euphoric. I’ve never seen more than five digits in my bank account.”
In another part of the country, Roger Lin, a senior at the University of Utah in Salt Lake City, has been waking up before dawn to check in on GameStop and AMC Entertainment before the opening bell after he saw violent swings in his TD Ameritrade account.
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