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Winnipeg Free Press By: Anita Balakrishnan, The Canadian Press Posted:
Last Modified: 3:50 PM CST Friday, Jan. 29, 2021
TORONTO - A rollercoaster week of trading for investors in GameStop, BlackBerry and other hot stocks has resulted in trading bans, warning labels for certain stocks and questions over both fairness and systemic risk in the financial system.
A GameStop storefront is shown before opening Thursday morning, Jan. 28, 2021, in Dallas. Canadian investing app Wealthsimple is labelling some stocks as risky after this week s volatility in shares of GameStop, BlackBerry and other social media darlings. THE CANADIAN PRESS/AP/LM Otero
TORONTO - A rollercoaster week of trading for investors in GameStop, BlackBerry and other hot stocks has resulted in trading bans, warning labels for certain stocks and questions over both fairness and systemic risk in the financia
Anita BalakrishnanCanadian Press
A rollercoaster week of trading for investors in GameStop, BlackBerry and other hot stocks has resulted in trading bans, warning labels for certain stocks and questions over both fairness and systemic risk in the financial system.
Shares in retailer GameStop’s soared from about $20 apiece in mid-January to more than $400 at Friday’s highs, a four-fold increase in price this week alone amid widespread discussion on social media platform Reddit. Users who piled money into GameStop, BlackBerry and a handful of other shares were not only looking for a way to make money, but to stick it to the powerful investors and hedge funds who had bet against the stocks.
GameStop s improbable run has lifted its stock to meteoric heights - all propelled by ordinary investors, spurred by a Reddit message board, looking to show up the Wall Street funds that bet big money on the shares to fall. Photo by Spencer Platt /Getty Images
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TORONTO Canadian investing app Wealthsimple adding a ‘risky’ label to certain stocks after a social media based movement sent shares of GameStop, BlackBerry and others soaring up to 1,700%.
The GameStop stock page on Wealthsimple’s app advises users that the ticker, GME, is considered risky and that traders should expect high volatility.
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Published Friday, January 29, 2021 12:10PM EST Last Updated Friday, January 29, 2021 12:52PM EST TORONTO - A rollercoaster week of trading for investors in GameStop, BlackBerry and other hot stocks has resulted in trading bans, warning labels for certain stocks and questions over both fairness and systemic risk in the financial system. Shares in retailer GameStop s soared from about $20 apiece in mid-January to more than $400 at Friday s highs, a four-fold increase in price this week alone amid widespread discussion on social media platform Reddit. Users who piled money into GameStop, BlackBerry and a handful of other shares were not only looking for a way to make money, but to stick it to the powerful investors and hedge funds who had bet against the stocks.