GameStop shares dip below $50 as WallStreetBets frenzy fades
Video game seller has lost $32 billion in market value since Reddit group WallStreetBets sent its share into orbit.
Video game seller has lost $32 billion in market value since Reddit group WallStreetBets sent its share into orbit.
Stock-trading app lets customers "buy on margin" to amp up potential returns. Some investors are paying the price.
Video game retailer has lost more than $30 billion in market value after a stock frenzy driven by Reddit board.
Some Reddit users took advice from the "WallStreetBets" forum and made big money on GameStop stock. Now a 20-year-old college student who cashed in is using some of that newfound wealth for good, buying gifts for a children's hospital.
Reddit personality and YouTuber is still up on his investment, but much less than a week ago when he shot to fame.
Investing app Robinhood recently found itself embroiled in controversy this past week when it moved to restrict trading of shares of several companies like GameStop and AMC. The move resulted in intense backlash from users. New York Times finance and technology reporter Nathaniel Popper joins CBSN's Elaine Quijano to discuss.
Moderators of Reddit's WallStreetBets forum say they're seeing a large amount of stock-recommendation content being posted by bots. MoneyWatch senior reporter Stephen Gandel joins CBSN AM to break down the latest information on the forum, which caused a stir as members bought Gamestop stock, driving the price up.
GameStop isn't the only struggling company whose stock has surged after retail investors flooded in.
GameStop's stock price soared to $325 a share on Friday, capping off a tumultuous week on Wall Street. Despite the video game retailer's success, the overall market sank and ended the week in the red. CEO and founder of Tusk Ventures, Bradley Tusk, joined CBSN to discuss the impact the battle between amateur traders and hedge fund investors will have on the future of the stock market.
Brokerage has angered investors who claim they were unfairly blocked from trading GameStop and other hot stocks.
Stocks sank Friday as a result of the Game Stop frenzy. CBS News correspondent Vladimir Duthiers explains why, and Katie Stockton, founder and managing partner of Fairfield Strategies, joins CBSN to discuss.
Gamestop's stocks are surging once again after the stock-trading app Robinhood reversed its decision and allowed limited trading to resume. It's the latest twist in the ongoing battle between small-scale amateur traders and hedge fund investors. Andrew Smith, chief investment strategist at Delos Capital Advisors, joins CBSN to discuss the impact.
This week's GameStop frenzy on Wall Street drew Stewart to chime in on Twitter.
After a "tough day," the trading app Robinhood said it would allow "limited buys" of stocks backed by Reddit traders.
Popular trading app Robinhood is now allowing retail investors to buy shares of GameStop stocks, but only in limited quantities. CBS MoneyWatch senior reporter Stephen Gandel joins CBSN to discuss the showdown between Wall Street and home traders.
Popular trading app Robinhood is allowing limited trading Friday morning of GameStop stock. This comes one day after it banned the company's stock from its platform, citing extraordinary market conditions. Vladimir Duthiers reports.
"Fully agree," Senator Ted Cruz tweeted in response to Congresswoman Alexandria Ocasio-Cortez, who scolded Robinhood.
Reddit board Wallstreetbets seems to have driven a near-2,000% rise in the stock price of troubled video game retailer.
GameStop's wild ride on Wall Street hit a wall when popular app Robinhood and other online trading apps restricted trades on the stock.
Newly popular retail stocks, including GameStop, AMC and BlackBerry, plummeted after platforms froze out retail traders.
The decision has sparked fierce backlash from users and lawmakers.
Thanks to a group on Reddit with millions of followers, individual investors have sent the value of GameStop's stock soaring this week, shocking Wall Street investors who bet big on the retailer's decline. The Securities and Exchange Commission and the White House both said they are monitoring the situation. CBS MoneyWatch's Stephen Gandel and CBSN technology reporter Dan Patterson join CBSN AM to break down what this all means.
Small investors using a Reddit forum appear to have driven the stock of the struggling retail chain GameStop up nearly 800% and it's causing some major financial losses for seasoned Wall Street investors. Vladimir Duthiers has the details. CBS News business analyst Jill Schlesinger also joins "CBS This Morning" to discuss.
Individual investors, fueled by social media posts, bought up GameStop stock, artificially inflating the price. The move caused Wall Street firms to take a hit. Manuel Bojorquez has more.
Investors in popular Reddit group push retailer's stock and are accused of threatening those betting against it.
Lawyers from both sides presented their final cases before the jury in former President Donald Trump's "hush money" trial in New York.
Tyler Wenrich was facing a potential mandatory minimum sentence of 12 years in prison in the Turks and Caicos Islands.
In an order issued Tuesday, Florida Judge Aileen Cannon rejected Special Counsel Jack Smith's motion to impose a gag order on certain public statements by former President Donald Trump.
The Democratic National Committee wants to nominate President Biden and Vice President Harris virtually before the scheduled convention to ensure meeting Ohio's Aug. 7 ballot certification deadline.
"The reality is that some people do indeed try to game the system," Homeland Security Secretary Alejandro Mayorkas told CBS News.
U.S. NATO allies are preparing for the changing political realities that a Trump presidency could bring.
The Cook County Sheriff's Office aims to put mental health workers in the field virtually as cities grapple with alternative police responses.
Garry Conille has been named Haiti's new prime minister nearly a month after a coalition within a fractured transitional council had chosen someone else for the position.
The immediate impact of the incorporation will see Josh Gibson, one of the baseball's greatest players, take multiple records from the likes of Ty Cobb and Babe Ruth.
The immediate impact of the incorporation will see Josh Gibson, one of the baseball's greatest players, take multiple records from the likes of Ty Cobb and Babe Ruth.
The Cook County Sheriff's Office aims to put mental health workers in the field virtually as cities grapple with alternative police responses.
Lawyers from both sides presented their final cases before the jury in former President Donald Trump's "hush money" trial in New York.
Storms with damaging winds and baseball-sized hail have pummeled Texas again.
"Everyone is taking a hit with these storms," Oklahoma insurance official says of the mounting financial toll from extreme weather.
"Everyone is taking a hit with these storms," Oklahoma insurance official says of the mounting financial toll from extreme weather.
Most employers give a company match for people who sock money into their 401(k)s. But that "free money" may be doled out unfairly.
Employees who constantly emphasize how stressed out they are at work are shooting themselves in the foot, study suggests.
Amtrak said trains traveling between Boston and Washington, D.C., could face delays because of the heat this summer.
Participants in the anti-consumption movement talk it up as a away to shed debt and protect the planet.
Lawyers from both sides presented their final cases before the jury in former President Donald Trump's "hush money" trial in New York.
U.S. NATO allies are preparing for the changing political realities that a Trump presidency could bring.
Three people were shot to death in a small South Dakota town, and a former law officer who once served as the town's mayor is charged in the killings.
The decision could complicate prosecutors' case against New Jersey Sen. Bob Menendez as it relates to Egypt and military aid.
The Democratic National Committee wants to nominate President Biden and Vice President Harris virtually before the scheduled convention to ensure meeting Ohio's Aug. 7 ballot certification deadline.
How do American sunscreens stack up against others around the world? A 1938 law may be blocking your best options for skin cancer protection.
Candy is not great for your teeth, but experts say there are three other types of foods and drinks to be mindful about for better oral health.
Drugs such as LSD, ketamine, mushrooms and MDMA can be powerful treatments for severe depression and PTSD, mounting evidence suggests — but not everyone is convinced.
Spencer Wright's son, Levi Wright, has shown some progress since he was found unconscious in a river, his mother said.
Bird flu has been confirmed in dairy cattle herds in nine states, has been found in milk and has prompted the slaughter of millions of chickens and turkeys.
Garry Conille has been named Haiti's new prime minister nearly a month after a coalition within a fractured transitional council had chosen someone else for the position.
U.S. NATO allies are preparing for the changing political realities that a Trump presidency could bring.
Tyler Wenrich was facing a potential mandatory minimum sentence of 12 years in prison in the Turks and Caicos Islands.
Pope Francis' office issued a statement on Tuesday responding to reports that the pontiff had used a homophobic slur in a closed-door meeting with bishops.
Spain, Ireland and Norway moved to formally recognize a Palestinian state on Tuesday, a step toward a long-held Palestinian aspiration amid the Israel-Hamas war.
Albert S. Ruddy, who won Oscars for "The Godfather" and "Million-Dollar Baby" and helped create TV's "Hogan's Heroes," died Saturday.
A venue issued an apology after actor Richard Dreyfuss made allegedly sexist and homophobic comments at a "Jaws" event on Saturday.
Bestselling author John Grisham is returning to the beach with his latest page-turner. His book "Camino Ghosts" is the third in his Camino Island trilogy. He talks to "CBS Mornings" about the important history behind the book.
Wactor was shot and killed when he interrupted three suspects in the midst of a catalytic converter theft in downtown LA early Saturday morning, according to family members.
In the Off-Broadway comedy, Sedgwick plays the mother of a young disabled woman who is romantically involved with a disabled man.
Some school districts are turning to technology like artificial intelligence to help tackle major bus driver shortages. A school district in Colorado shows how their system could become a model nationwide.
A severe school bus driver shortage has left many students without reliable transportation but a district in Colorado Springs has found a high-tech solution.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Advocates say the technology, including facial recognition, will lead to improved security and efficiency, but some remain concerned about privacy.
New technology is transforming the way travelers pass through airports. Biometrics, including facial recognition are becoming more common. A push in Congress to restrict the TSA's use of biometrics failed earlier this month.
Turbulence on flights has been increasing, and climate change could be one of the reasons why. CBS News senior weather producer David Parkinson explains how the human-caused phenomenon affects the flight path.
One million species worldwide are threatened with extinction, according to the United Nations. One of the reasons is climate change. As dire as it sounds, there are many communities working to protect the Earth and those threatened species.
Shining galaxies, a purple and orange star nursery and a spiral galaxy are among the new images.
New research indicates the sun's magnetic field originates much closer to the surface than previously thought, a finding that could help predict extreme solar storms.
The National Oceanic and Atmospheric Administration released new 2024 weather outlooks for the summer. CBS News Chicago meteorologist David Yeomans breaks down how the predictions may be connected to climate change.
Police in Northern California on Tuesday helped U.S. Marshals arrest a fugitive wanted in a Massachusetts rape case nearly two decades after he fled that state during his trial, authorities said.
Three people were shot to death in a small South Dakota town, and a former law officer who once served as the town's mayor is charged in the killings.
The man convicted in the 2022 hammer attack on Paul Pelosi apologized and was again sentenced to 30 years in prison Tuesday, as the sentencing hearing in his case was reopened due to a court error.
David Berkowitz terrorized New York City with a series of shootings that killed six people and wounded seven beginning in July 1976.
Police said "officers arrested a man after he allegedly ran naked through the aircraft mid-flight and knocked a crew member to the floor."
Scientists used decades-old images to track changes on the planet's surface.
Engineers are confident the leak will not worsen in flight, and even if it does, the Starliner can safely launch June 1.
The orbits of six planets will bring them to the same side of the sun to create a "planetary parade" in early June.
Shining galaxies, a purple and orange star nursery and a spiral galaxy are among the new images.
NASA managers have ordered additional reviews of a small helium leak in Boeing's Starliner spacecraft to make sure it can be safely launched as is.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
Forrest Fenn hid a treasure somewhere in the Rocky Mountains. Five men died searching for it.
An anonymous letter writer terrorizes a small town, threatening to expose their rumored dark secrets.
A look back at the hallowed career of the indie "B-movie" filmmaker, known for exploitation films, monster flicks, and some bizarre movie posters.
Despite losing three quarters of the blood in her body, Donna Ongsiako was able to help police find the person who almost took her life.
The Biden administration argues China subsidizes its products so aggressively and produces them at such scale it undermines other countries' economic output, which should be a global concern. Last week, Treasury Secretary Janet Yellen asked her European counterparts for help. Mark Wu, professor of law at Harvard University, joins CBS News to discuss whether a multi-national approach could produce real results.
With 160 days until the next presidential election, American democracy is still reeling from millions of Americans, and even some politicians, refusing to accept the 2020 results. CBS News election law contributor David Becker examines the state of U.S. election integrity.
Turbulence on flights has been increasing, and climate change could be one of the reasons why. CBS News senior weather producer David Parkinson explains how the human-caused phenomenon affects the flight path.
The prosecution and defense in former President Donald Trump's "hush money" trial gave their closing arguments Tuesday, making their final cases before jury deliberations begin. CBS News campaign reporter and attorney Katrina Kaufman and legal contributor Rebecca Roiphe join with the latest.
Palestinians who had fled to Rafah to escape the Israel-Hamas war are now in the path of violence as Israel pushes on with its offensive despite global condemnation. CBS News foreign correspondent Imtiaz Tyab reports. Then, Ky Luu, CEO of International Medical Corps, joins to discuss what aid groups see on the ground.