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GameStop s sinking share price is sending WallStreetBets Redditors ballistic

Understanding GameStop, Trading Apps, Wall Street And The Power Of Social Media – Houston Public Media

Associate Director of the Center for Information Security Research and Education at the University of Houston Houston Public Media reporter Matt Harab also joins Ernie with headlines from Houston and beyond, including: Here s where we are right now with COVID: at end of day on January 20, there were 595 people needing intensive care at Harris County Hospitals for COVID. Today, the hospitals are reporting 510 patients needing intensive care. In general beds, county hospitals are down to a little under 1500 COVID patients after seeing a high earlier in January of just over 1700 patients. Texas Medical Center member hospitals are showing numbers flattening. Yesterday the Texas Medical Center admitted 251 new COVID patients, compared to last week when the average COVID admissions per day was 283. In the last few months, the numbers were as high as over 400 admissions per day.

Investment app behind Robinhood fiasco buys Super Bowl ad

The ad will run at a precarious time for Robinhood. Last week, Robinhood outraged users and lawmakers by prohibiting purchases of GameStop, AMC and other favorites of the WallStreetBets Reddit group that disrupted parts of the financial markets. Hours later, Robinhood raised $US 1 billion ($1.3 billion) from existing investors in a move that signalled a cash crunch. Days later, the free-trading app raised an additional $US 2.4 billion ($3.14 billion) from investors — a massive sum underscoring the intense financial pressures suddenly facing the company. READ MORE: Online trading platform Robinhood(AP) Robinhood s decision to curtail certain trades prompted users to file a class-action lawsuit claiming the company s actions unfairly rigged the market against its own customers.

GameStop shares fell Monday as silver soared on overall up day for Wall Street

GameStop shares fell Monday as silver soared on overall up day for Wall Street Nancy Dillon © John Minchillo Pedestrians pass a GameStop store on 14th Street at Union Square, Thursday, Jan. 28, in the Manhattan borough of New York. Volatile trading sent GameStop shares sharply lower Monday as silver futures shot to their highest levels in eight years on an overall up day for Wall Street. The precious metal became a focus of the market’s speculative free-for-all after posts on the WallStreetBets Reddit forum talked about piling into the humble commodity next. The hashtag #silversqueeze trended on Twitter just as other Reddit users called the silver rush “fake news” meant to lure investors out of retail stocks such as GameStop so hemorrhaging hedge funds could cover their losing bets.

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