The GameStop Frenzy Reignites
The GameStop GME mania is back with the stock more tripling in value since yesterday afternoon. The markets are trying to pinpoint what catalyzed this exuberant demand for GME.
Activist GameStop investor, Ryan Cohen's seemingly innocuous tweet of a McDonald's ice-cream and a Frog Emoji may have triggered this GME buying frenzy. Whether it was this tweet or its CFO's forced resignation on Tuesday (February 23rd), the GME flame has been reignited.
GME has been gamified. The stock is no longer trading on anything fundamental or technical but utilized as a gambling tool. Regulators & critics have been pointing their fingers at Robinhood for 'gamifying' the stock market.
Robinhood's mobile app looks like any other low-stakes app on your phone, and speculative retail traders are treating it that way
Warren Buffett's right-hand man, Charlie Munger, said yesterday that Robinhood has had a "regrettable" effect on this new wave of investors.
More Stock News: This Is Bigger than the iPhone!
It could become the mother of all technological revolutions. Apple sold a mere 1 billion iPhones in 10 years but a new breakthrough is expected to generate more than 77 billion devices by 2025, creating a $1.3 trillion market.
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GameStop Corp. (GME) : Free Stock Analysis Report
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