For all the retail traders they left holding the bag. For all the people that can't pay for college because minimum wage has stagnated while wall street gets rich. For all the jobs and homes people have lost. On Reddit, one member of wallstreetbets, wrote early Thursday: "GME is about sending a message. You know, they just want to poke a middle finger at Wall Street," says Paddy Hirsch of NPR's The Indicator From Planet Money podcast. "There's also kind of a populist thing happening here with a lot of these traders, judging by the Reddit threads. The Coronavirus Crisis Millions Turn To Stock Trading During Pandemic, But Some See Trouble For The Youngįor those Reddit members, all this isn't just about making money. 16 letter from Cohen to the GameStop board he would later join. The stock got its big kick when Reddit's r/wallstreetbets community - now with more than 4 million members - fawned over a Nov. 13, two days after the announcement about Cohen joining the board, GameStop stock jumped 57% - from $19.95 per share to $31.40. The new members include Ryan Cohen, a founder of Chewy, an online pet products company worth $42 billion. The company also said it had entered an agreement with RC Ventures, one of its largest stockholders, to add three members to GameStop's board of directors.
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It said those online sales represented about a third of the company's total sales. 11, GameStop announced that its sales overall fell 3.1% during the holidays, due in part to the "significant impacts" of the pandemic, but its e-commerce sales soared more than 300%.