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One GameStop shareholder got $3.1 billion richer in one week


GameStop s stock has exploded in the past week, surging more than 800%.
Chewy cofounder Ryan Cohen s 12.9% stake, which he acquired in August for $76 million, is now worth nearly $3.1 billion.
Members of a Reddit forum dedicated to playing the stock market have boosted the stock to a record high.
One month ago, GameStop announced to shareholders that it would close more than 1,000 stores by the end of March.
Since then, the video-game retailer s stock has skyrocketed by more than 1,900%, jumping 800% in the past week alone. The company can thank a Reddit forum named Wall Street Bets for this massive rally. The forum has more than 2 million members who are largely committed to buying the stock at this point in time. (It didn t hurt that Elon Musk tweeted Gamestonk!! during after-hours trading on Tuesday).  ....

Attal Alain , Elon Musk , George Sherman , Donald Foss , Michael Pachter , Ryan Cohen , Credit Acceptance Corp , Street Bets , Acceptance Corp , Securities Managing Director Michael Pachter , ஆத்தாள் அலன் , ஜார்ஜ் ஷெர்மன் , டொனால்ட் புதை , மைக்கேல் பச்சித்ேர் , ரியான் கோஹன் , கடன் ஏற்றுக்கொள்ளுதல் கார்ப் , தெரு சவால் , ஏற்றுக்கொள்ளுதல் கார்ப் , பத்திரங்கள் நிர்வகித்தல் இயக்குனர் மைக்கேல் பச்சித்ேர் ,

Explainer: What in the world is going on with GameStop's stock?


Even in 2020, while the video-game business (including GameStop) had huge gains during coronavirus lockdowns, GameStop s stock price remained in the gutter. As recently as August just under five months ago the largest video-game retail chain had a stock value of less than $5 per share. 
But in the second half of 2020, with big financial names like Michael Burry and Ryan Cohen buying up shares in the ailing retailer, things started looking up. The company s share value gradually increased until it outright surpassed its pre-collapse value in late 2020. 
And that s when it got
really weird: Between January 20 and January 26, GameStop s stock value leaped from just over $35 per share to north of $140 per share. By January 27, it hit new highs of over $325 per share an over 8,000% increase from just a few months ago. ....

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Double Dip Recession?


Economic Slowdown Deepens
This is the first truly terrible jobless claims report since the slowdown started. There will be even more job losses in January than in December, but investors will probably ignore this as the vaccines are set to stop the virus’ spread in the next few months (14.3 million vaccines have gone out in the US). The main questions are how deep this slowdown gets and when it ends. We could easily see sharp job creation starting as early as March or April.
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