Reddit and Astera Labs IPOs spark hope amidst market uncertainty
Two tech giants, Reddit Inc. and Astera Labs Inc., ignited the stock market with their recent IPOs, offering a glimmer of hope for investors and startups.
Two tech giants, Reddit Inc. and Astera Labs Inc., ignited the stock market with their recent IPOs, offering a glimmer of hope for investors and startups.
GameStop Corp. sales rose as more people returned to its stores last quarter, but its loss widened, dampening investors’ hopes for signs of a turnaround for the videogame retailer.
The Wall Street Journal tells the human story behind the screen names of three amateur traders on the Robinhood app.
Reddit doubled its valuation to $6 billion in a new round of funding that comes as the social-media company has added users through the pandemic.
Reddit has attracted the attention of private investors after users caused an upset on Wall Street, demonstrating the power of the social media platform.
Dr Richard Smith tells BizNews what is really fuelling meme stocks and what this means for investors outside the Robinhood community.
‘Keith Gill was known simply as one of the fastest kids in his town. Gill never aspired to be an amateur stock picker’, says The Wall Street Journal.
‘“People were doing a quick take, saying GameStop was the next Blockbuster,” he said, a chain caught in a retail decline’, reports the Wall Street Journal.
‘The power dynamics are shifting on Wall Street. Individual investors are winning big—at least for now—and relishing it’, says The Wall Street Journal.
‘Their collective buying sends prices surging forcing pros to cover their exposure’, says BizNews founder Alec Hogg.