The Great Game: The Emergence Of Wall Street As...
Though technology has evolved at hyper-speed over the past 100 years, management styles have mostly stayed the same. The higher-ups make the decisions, and the employees grind it out, often without knowing the endgame. In 1983, Jack Stack created a new game: the great game of business. Get in the Game further explains the rules of this game: To win, you must get everyone, at all levels of the business, as informed, involved, and engaged as the owner.
The Great Game: The Emergence of Wall Street as...
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Users from the Reddit page r/wallstreetbets earlier this month gobbled up stock from floundering chain GameStop, sending the price soaring and forcing institutional investors who bet against the company to back out -- performing what's known as a \"short squeeze.\"
The now-legendary r/wallstreetbets page was started in 2012, according to a Wall Street Journal interview with one of the founders. As the pandemic forced people to stay home and trading apps that let users enter the market without the need of brokers or money managers rose in popularity, the forum garnered hordes of new followers during the March 2020 stock market dip and subsequent rally. On Jan. 27, the group had some 3 million members. By Feb. 3, it had more than 8 million.
Many link the initial push in r/wallstreetbets toward GameStop to an individual investor identified by the Wall Street Journal as Keith Gill, but known on Reddit by his screen name \"DeepF***ingValue\" or \"DFV\" for short.
Gill also posted screenshots of his GameStop portfolio on r/wallstreetbets as far back as 2019. Gill and other members of the forum also cited the bullish GameStop stance of Michael Burry, the legendary trader who was portrayed by Christian Bale in the 2015 film \"The Big Short,\" as fuel for their investment choices.
As the tug-of-war between the everyday investors and hedge funds heated up and support grew for GameStop on r/wallstreetbets, the stock skyrocketed more than 50% in the trading session on Jan. 22. It opened that day at $42.59 a share and closed at $65.01. During after hours and pre-market trading that weekend, the GameStop continued to climb. On Jan. 25, it opened at $96.73.
A few days later, Tyler Winklevoss tweeted a link to reports about the film and said that when the movie comes out he and his brother will be renting AMC theaters (another popular stock within r/wallstreetbets) for \"premiere parties.\" 041b061a72