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Reddit Investors Drive up GameStop Stock

Reddit Investors Drive up GameStop Stock

FromThe Daily Dive


Reddit Investors Drive up GameStop Stock

FromThe Daily Dive

ratings:
Length:
20 minutes
Released:
Jan 28, 2021
Format:
Podcast episode

Description

GameStop has been killing it on Wall Street this week as thousands of small investors are buying stock and driving up the market value of the company. These investors are gathering in places like the r/Wallstreetbets subreddit and targeting short sellers by buying up what are called “meme stocks.” While GameStop is the current beneficiary of this plan, other companies like BlackBerry and AMC have also been bought up, sending shares soaring. The big question becomes… what happens when people stop buying or try to offload their shares to cash in? James Surowiecki, columnist for online business magazine Marker, joins us for how it all works.




Next, California and other states have begun rolling back some of their strict coronavirus restrictions as new Covid strains are beginning to circulate. New cases and hospitalizations are declining causing governors like Gavin Newsom to let some businesses open at limited capacity again. Some say politics may be at play since he is facing a recall effort, but Newsom says that has no merit. Businesses and restaurants are happy at the chance to reopen, but some urge caution that it could be too soon. Emma Court, health reporter at Bloomberg News, joins us for more.

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Released:
Jan 28, 2021
Format:
Podcast episode

Titles in the series (100)

Start your day with The Daily Dive. News without the noise, told straight. Explore the most interesting news of the day. Connect with the writers, analysts and reporters that know the real story. Hosted by Oscar Ramirez in Los Angeles, this 20 minute podcast will be ready for you when you wake up. (Posted by 6 AM EST)