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.
President Biden urged Hamas to agree on the deal that would release some 100 remaining hostages, along with the bodies of around 30 more.
Nearly a month after a frustrating launch scrub, the Starliner and its two-person crew were initially cleared for a second attempt to reach orbit.
Chad Daybell was sentenced to death in the murders of his wife, Tammy Daybell, and his then-girlfriend's children Joshua "JJ" Vallow and Tylee Ryan.
The spacecraft, part of the Chang'e moon exploration program, will collect soil and rock samples.
The problems began Friday morning, causing water problems at two hospitals, a city jail, a county jail and local shelters.
Experts previously said that such pregnancy was not possible.
Last summer, otter 841 terrorized surfers in Santa Cruz, California, biting surfboards and even hijacking them. Now she has returned.
Almost 160,000 Allied troops landed at Normandy on June 6, 1944, in a massive operation designed to break through heavily fortified German defenses and begin the liberation of Western Europe.
Police say a photographer and one-time contestant on "The Dating Game" was also a chameleon and a serial killer —perhaps the deadliest in U.S. history.
The problems began Friday morning, causing water problems at two hospitals, a city jail, a county jail and local shelters.
Prosecutors say evidence, including damning cellphone searches and texts, led them to Tim Bliefnick for the February murder of Becky Bliefnick.
Police say a photographer and one-time contestant on "The Dating Game" was also a chameleon and a serial killer —perhaps the deadliest in U.S. history.
Last summer, otter 841 terrorized surfers in Santa Cruz, California, biting surfboards and even hijacking them. Now she has returned.
Almost 160,000 Allied troops landed at Normandy on June 6, 1944, in a massive operation designed to break through heavily fortified German defenses and begin the liberation of Western Europe.
Authors complained for years that the organization was predominantly White — causing membership to plummet.
Costco hasn't raised the cost of its popular hot dog and soda combo in nearly 40 years, and it's not about to now, a senior exec says.
FCC calls on Congress for funding to restart program that helped low-income households get high-speed internet service.
Google said it's rolling back its AI-generated search results feature after two weeks. Here's why.
the law would require fossil fuel companies to contribute to a superfund that will be used to help the state adapt to climate change and develop more resilient infrastructure.
As the verdict was read, former President Donald Trump's eyes appeared to close, and his head shook slightly, lips pursed and eyes downcast.
Former President Donald Trump was found guilty on 34 felony counts in a case stemming from a "hush money" payment to adult film star Stormy Daniels.
CBS News fact checked four misleading claims Trump made about his trial in remarks he made Friday morning.
A former top U.S. agricultural official testified that Menendez tried to stop him from disrupting a halal certification monopoly that Egypt awarded to one of his constituents.
The former president often speaks about removing "criminals out of our country." Some countries could keep Trump out of theirs.
Even if someone has gone through a healing process with body image or their relationship with food, these challenges can "last a lifetime," a licensed mental health counselor tells CBS News.
Almost one in five survey responders had lost a family member or close friend to a drug overdose, researchers found.
The U.S. has ordered 4.8 million doses of vaccine to target bird flu in case the outbreak spreads in people.
Details of the FDA's proposal were published Friday ahead of a meeting next week.
The Mediterranean diet has long been regarded as a heart-healthy option, but a new study has found the diet may help reduce risk of death.
The spacecraft, part of the Chang'e moon exploration program, will collect soil and rock samples.
Almost 160,000 Allied troops landed at Normandy on June 6, 1944, in a massive operation designed to break through heavily fortified German defenses and begin the liberation of Western Europe.
Zulkifli Bin Yusof, 36, was part of a three-man climbing team from Malaysia.
Vinicius Junior scored in the 83rd minute at Wembley Stadium to seal a record-extending 15th European Cup for Real Madrid.
The activist targeted Claude Monet's "Poppy Field" painting, affixing a sticker that covered about half of the artwork with an apocalyptic, futuristic vision of the same scene.
West Virginia native Rett Madison started writing songs as a child and performing at summer camps. Her most recent album, "One for Jackie," is an emotional powerhouse about her mother that thrust her into the spotlight. Now, from "One for Jackie," here is Rett Madison with "One for Jackie, One for Crystal."
West Virginia native Rett Madison started writing songs as a child and performing at summer camps. Her most recent album, "One for Jackie," is an emotional powerhouse about her mother that thrust her into the spotlight. Now, from "One for Jackie," here is Rett Madison with "Fortune Teller."
West Virginia native Rett Madison started writing songs as a child and performing at summer camps. Her most recent album, "One for Jackie," is an emotional powerhouse about her mother that thrust her into the spotlight. Now, from "One for Jackie," here is Rett Madison with "Flea Market."
In "The Truman Show," Jim Carrey's character, Truman, learns that his entire life is a lie and that he is the subject of a reality TV show. Before the film even hit theaters, a similar real-life scenario was taking place in Japan: Nasubi, a 22-year-old aspiring comedian, became an unwitting participant on a twisted reality show. A new documentary explores the show and its impact. Michelle Miller reports.
Jennifer Lopez has canceled her upcoming summer tour to spend more time with her "children, family and close friends," Live Nation announced Friday.
What was to be the maiden launch of the Boeing Starliner with astronauts on board was halted yet again Saturday, this time less than four minutes before liftoff, when a computer system triggered an automatic hold. A launch last month was also canceled due to various issues. Manuel Bojorquez has the latest.
All systems are go for a second attempted launch of Boeing's Starliner capsule on Saturday, making its maiden voyage to the International Space Station with two astronauts on board. Manuel Bojorquez reports from the Kennedy Space Center.
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.
ChatGPT developer OpenAI warns that state actors worldwide use generative artificial intelligence to run covert propaganda operations. The company told The Washington Post it found groups in Russia, China, Iran and Israel using its technology to build and launch social media campaigns. Gerrit De Vynck, tech reporter for The Post, joins CBS News to discuss.
Google said it's rolling back its AI-generated search results feature after two weeks. Here's why.
A recent study from the University of Washington suggests that rising summer temperatures threaten triploid oysters, specifically bred in the 1970s to be more resilient to harsher environments. Despite that, researchers found that triploids die nearly 2.5 times faster than other oysters when under heat stress. Neil Thompson, geneticist for the U.S. Department of Agriculture Agricultural Research Service, joins CBS News to unpack the findings.
The New Caledonian fern, Tmesipteris oblanceolata, has more than 50 times more DNA packed into the nucleus of its cells than humans do.
Can the climate crisis be won as temperatures soar, oceans rise and air quality deteriorates? Former presidential candidate Tom Steyer thinks it can. The climate investor joins "America Decides" to discuss his new book "Cheaper, Faster, Better: How We'll Win the Climate War."
The spread of an avian flu virus in cattle has again brought public health attention to the potential for a global pandemic. Fighting it would depend, for now, on 1940s technology that makes vaccines from hens' eggs.
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.
Prosecutors say evidence, including damning cellphone searches and texts, led them to Tim Bliefnick for the February murder of Becky Bliefnick.
Police say a photographer and one-time contestant on "The Dating Game" was also a chameleon and a serial killer —perhaps the deadliest in U.S. history.
Two days after he was convicted of triple-murder, an Idaho jury on Saturday sentenced Chad Daybell to death in the 2019 killing of his first wife, Tammy Daybell, and the killings of the two youngest children of his now wife, Lori Vallow Daybell. In 2023, Vallow Daybell was also convicted in the murders of those two children and sentenced to life in prison.
Chad Daybell was sentenced to death in the murders of his wife, Tammy Daybell, and his then-girlfriend's children Joshua "JJ" Vallow and Tylee Ryan.
John Demay said that what started as a seemingly innocuous encounter on Instagram quickly turned deadly for his teenage son Jordan.
The spacecraft, part of the Chang'e moon exploration program, will collect soil and rock samples.
The second attempt to send Boeing's Starliner crew capsule into orbit was canceled just minutes before it was set to launch on Saturday.
Nearly a month after a frustrating launch scrub, the Starliner and its two-person crew were initially cleared for a second attempt to reach orbit.
If you missed the fantastic display of the northern lights in May, you could soon have another chance. In early June, the active solar region responsible for those multi-colored hues in the night sky will be in prime position to generate solar storms impacting us on Earth. Ryan French, solar physicist with the National Solar Observatory, joins CBS News to explain.
Boeing is preparing to launch its crewed Starliner spacecraft on Saturday after having to scrub the plan twice before due to technical difficulties. CBS News space consultant Bill Harwood is following the preparations for Boeing's flight.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
The Illinois mom wrote, "If something ever happens to me, please make sure the number one person of interest is Tim." Take a look at the evidence that led to Tim Bliefnick's arrest.
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.
When Becky Bliefnick was murdered, an answer her husband gave on "Family Feud" years earlier raised eyebrows. "48 Hours" correspondent Erin Moriarty reports.
Two days after he was convicted of triple-murder, an Idaho jury on Saturday sentenced Chad Daybell to death in the 2019 killing of his first wife, Tammy Daybell, and the killings of the two youngest children of his now wife, Lori Vallow Daybell. In 2023, Vallow Daybell was also convicted in the murders of those two children and sentenced to life in prison.
Following former President Donald Trump's conviction in his New York "hush money" trial, voters in the battleground state of Pennsylvania spoke to Nikole Killion about whether Trump's legal troubles will impact their vote.
The African National Congress party, once led by the late Nelson Mandela, has lost its parliamentary majority for the first time since 1994, when it helped bring about the end of apartheid.
Former President Donald Trump on Friday lashed out at his conviction in his New York "hush money" trial, making several false claims, while upside down flags, a symbol of protest adopted by the MAGA movement, were on display at Trump Tower. President Biden called Trump's remarks "reckless" and "dangerous." Natalie Brand reports from Washington.