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The GameStop Saga Shows How Casino Capitalism Is Eating the World The New Republic. The New Republic. Sold Short. Sold Short. The New Republic. Sold Short. Sold Short.
On Wednesday morning, GME opened at $354.83-an increase of almost $200 over its previous close. In the last few days, hundreds of millions of shares have changed hands, snapped up by both Reddit day traders and big hedge funds who have been forced to buy more shares to cover their short positions.
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Wall Street vs Robinhoods: How retail investors brought a hedge fund to knees - The Economic Times.
What started as an 'idiotic' enthusiasm a term used by one Reddit member of the group turned Wall Street upside down and left some of the biggest investing minds scratching their heads. At the high point of the day on Monday, shares of GameStop, which was sleep-walking to bankruptcy, had logged an eye-popping 779 per cent gain for January thus far. Hedge fund managers live in the past, and continue to look down upon the retail investors. They truly believe that we, the average retail investors, do not know anything about finances or the market which may be true, and we're' just gambling our money away, posted a WallStreetBets member with the pseudonym BenAffleks.
Video game loot boxes declared illegal under Belgium gambling laws - BBC News.
Only Battlefront II was found not to be in violation of the law - after developer EA temporarily halted micro-transactions completely following negative feedback. This criticism focused around a post by EA on community news site Reddit, which became the most downvoted in the site's' history, when the company appeared to call micro-transactions a way to provide" players with a sense of pride and accomplishment for unlocking different heroes. Image source, Getty Images. Many see similarities between gambling machines and video game mechanics.
Bill Gates likens Reddit-fueled GameStop stock frenzy to gambling.
Gates expressed concern about the role social media played in the GameStop saga and its potential implications for the U.S. Reddit" forums where people have a reason to kind of push something and get out at those high prices, you know, the SEC has got to look at this because we don't' think of the stock market as just performing a casino-like role, said Gates, the third-wealthiest person in the world. We" have restrictions on gambling activities."
Gambling? In the Stock Market? Im Shocked. - WSJ.
Wall Street is in an uproar over GameStop shares this week, after members of Reddits popular WallStreetBets forum encouraged bets on the video game retailer. WSJ explains how options trading is driving the action and whats at stake. 31, 2021 9:03: am ET. Has Reddit broken the stock market?
11 of the biggest losses casino dealers have witnessed.
Apparently there are a lot of people out there who gamble more in a few minutes than some people make in their entire life. Be sure to share these gambling stories with all your friends who complain after losing $20 over the course of a few hours.
The GameStop Story You Think You Know Is Wrong - The Atlantic. The Atlantic.
Maybe in several years, well look back and see that Reddit hedge funds, like cryptocurrency, were the first steps toward the future of decentralized finance. Maybe the phenomenon of finance message boards, combined with zero-commission trading, will funnel billions of dollars to public markets that might have otherwise gone to gambling or Netflix, or suits to the benefit of all 401 k holders and stock investors.
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Principle: To ensure legally compliant and transparent advertisers are allowed to advertise without exploiting or glorifying gambling and gaming. Policy: Gambling and Gaming Gambling ads that promote the exchange of money or other items of value are permitted to run on Reddit, but with certain restrictions.

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