#GameStop

.New York, NY, USA
Robinhood was founded in 2013 by Vlad Tenev and Baiju Bhatt. (Representational Image: Unsplash)

  • Listing of Robinhood's IPO would reportedly be on the Nasdaq exchange
  • Some reports said Robinhood's market valuation could be as high as $40 billion
  • During a trading frenzy in January, Robinhood added 3 million users

.New York, NY, USA
GameStop is one of few surviving chain of video game retail stores in US (Photo Credit: AFP)

  • The company reported fourth-quarter profits of $80.5 million
  • Both the earnings and revenues fell short of analyst expectations
  • Digital sales now account for more than one-third of net sales, up from a 12% share in the year-ago period

.New York, NY, USA
The stocks of GameStop Corp are climbing again. (Photo Credit: Twitter @

  • GameStop reached massive highs around six weeks ago
  • The burst was short-lived and GameStop generally fell in February
  • Its surge in recent days came after the retailer announced it was setting up a committee to accelerate its digital transition

.New York, NY, USA
GameStop is one of few surviving chain of video game retail stores in US. (Photo Credit: AFP)

  • GameStop shares more than doubled in price on Wednesday
  • The shares rocketed further on Thursday
  • Shares were trading around $151 on Thursday

.Washington D.C., DC, USA
GameStop is one of few surviving chain of video game retail stores in US (Photo Credit: AFP)

  • The US-based company sells electronic gadgets including gaming consoles and CDs
  • GameStop closed at $91.74
  • GameStop had been struggling due to the COVID-19 pandemic

The situation has pitted Wall Street's hedge funds against a social-media driven move to squeeze large, institutional entities. (Photo credit: AFP)

  • Founders of trading application Robinhood and onlin eforum Reddit were among those testifying at a House of Representatives hearing
  • Recent volatility in GamStop share prices have prompted cals for regulators to review of the role of social media
  • The hearing touched upon details of trading, such as the time it takes to settle bets

.New York, NY, USA
European markets were broadly higher. (Representative Image/Unsplash)

  • Both the S&P 500 and Nasdaq finished at all-time highs
  • Milan rose by 1.6% and closed at 22,900.55
  • The BoE cut its 2021 gross domestic product growth forecast to 5.0% from 7.25%

.Washington D.C., DC, USA
Janet Yellen will hold a meeting with top financial market regulators on Thursday. (Photo Credit: AP/PTI)

  • “We need to understand deeply what happened before we go to action," Janet Yellen said
  • GameStop has seen a precipitous drop in value that is the flip side of its incredible 400% surge last week
  • The events led to some retail investor apps such as Robinhood to limit trading in some of the most volatile stocks 

.New York, NY, USA
GameStop is one of the few video game retailer chain surviving on Wall Street. (Photo Credit: AFP/PTI)

  • GameStop, a retail chain whose business model of selling games on discs has been overtaken by the internet
  • The stock had soared after investors on Reddit joined forces against big hedge funds betting on GameStop's decline
  • Observers believe the stock market has been overvalued, with many companies not reflecting the reality.

.California, USA
Elon Musk has become more like a Wall Street heavyweight who can move markets with just a few words. (Photo Credit: AFP)

  • Elon Musk has became the richest man in the world, last month
  • He is the founder of Tesla and SpaceX
  • In his latest foray, Musk interview the head of online broker Robinhood on Clubhouse