Reddit trader who led GameStop frenzy loses $13M in one day
Reddit personality and YouTuber is still up on his investment, but much less than a week ago when he shot to fame.
Reddit personality and YouTuber is still up on his investment, but much less than a week ago when he shot to fame.
Investing app Robinhood recently found itself embroiled in controversy this past week when it moved to restrict trading of shares of several companies like GameStop and AMC. The move resulted in intense backlash from users. New York Times finance and technology reporter Nathaniel Popper joins CBSN's Elaine Quijano to discuss.
Moderators of Reddit's WallStreetBets forum say they're seeing a large amount of stock-recommendation content being posted by bots. MoneyWatch senior reporter Stephen Gandel joins CBSN AM to break down the latest information on the forum, which caused a stir as members bought Gamestop stock, driving the price up.
Democrats, GOP far apart on stimulus despite White House meeting between President Biden and Senate Republicans; Reddit group WallStreetBets hit by bot activity
One research firm believes that as much as 97% of the posts on WallStreetBets could be generated by bots, not people.
GameStop isn't the only struggling company whose stock has surged after retail investors flooded in.
The titans of finance were shaken by a subculture of amateur traders on WallStreetBets, whose viral stock purchases sent hedge funds reeling.
Stock sales by GameStop and BlackBerry insiders raise questions about their comp. "It's pay for luck," one expert said.
Reddit board Wallstreetbets seems to have driven a near-2,000% rise in the stock price of troubled video game retailer.
The decision has sparked fierce backlash from users and lawmakers.
Thanks to a group on Reddit with millions of followers, individual investors have sent the value of GameStop's stock soaring this week, shocking Wall Street investors who bet big on the retailer's decline. The Securities and Exchange Commission and the White House both said they are monitoring the situation. CBS MoneyWatch's Stephen Gandel and CBSN technology reporter Dan Patterson join CBSN AM to break down what this all means.
Small investors using a Reddit forum appear to have driven the stock of the struggling retail chain GameStop up nearly 800% and it's causing some major financial losses for seasoned Wall Street investors. Vladimir Duthiers has the details. CBS News business analyst Jill Schlesinger also joins "CBS This Morning" to discuss.
Individual investors, fueled by social media posts, bought up GameStop stock, artificially inflating the price. The move caused Wall Street firms to take a hit. Manuel Bojorquez has more.
Investors in popular Reddit group push retailer's stock and are accused of threatening those betting against it.
The popular subreddit was shut down because it continuously violated its hate speech policy.
Reddit banned "The_Donald," a pro-Trump forum with over 790,000 users during a hate speech crackdown in which it took down several groups that it says violated the site's rules of conduct. The site says the group violated its policies by allowing people to target and harass others.
Ohanian said he made the decision to resign from Reddit's Board of Directors for his and Williams' 2-year-old daughter
Reddit co-founder Alexis Ohanian, who is married to tennis superstar Serena Williams, resigned from his company's board on Friday. He told "CBS This Morning" co-host Gayle King he did it because he wanted his 2-year-old daughter, Olympia, "to be proud of her father."
"I'm saying this as a father who needs to be able to answer his black daughter when she asks, 'What did you do?'," the Reddit co-founder said.
American conspiracy theories are entering a dangerous new phase, according to a new piece from The Atlantic. It delves into the dangers that could lie ahead if we dismiss conspiracy theories, like that of the pro-Trump QAnon. Adrienne LaFrance, executive editor of The Atlantic, wrote the story and joined CBSN to discuss.
Among the gifts she received was a donation to the American Heart Association in memory of her mother, who died earlier this year.
The anonymous author who wrote a book and op-ed allegedly documenting the inner workings of the White House said Tuesday on Reddit that he or she plans to reveal their identity at some point. Anonymous -- who has so far been identified only as "a senior official in the Trump administration" -- pledged that "Donald Trump has not heard the last of me."
"As far as anonymity is concerned, I will not keep my identity shrouded in secrecy forever," the author wrote.
U.S. video game maker seizes player's Hearthstone Grandmasters winnings, saying he broke the company's rules
Fans on social media have crowned Reeves as "The Respectful King"
Iranian President Ebrahim Raisi was traveling in Iran's East Azerbaijan province when the helicopter was forced to land due to weather. A rescue is underway.
GOP Rep. Elise Stefanik of New York excoriated Biden over a paused weapons shipment to Israel in her address to the Knesset.
Is the issue of abortion offsetting the drag on President Biden stemming from inflation nationally and immigration in a state like Arizona?
United States National Security Advisor Jake Sullivan met with Crown Prince Mohammad bin Salam on Saturday to discuss a potentially historic bilateral agreement between the two nations.
The former New York mayor was served after his 80th birthday celebration as he was walking to the car, a political adviser said.
Dali, the cargo ship that crashed into the Francis Scott Key Bridge in Baltimore before its collapse, is set to be refloated Monday after weeks of salvage efforts requiring the use of giant floating cranes and explosives.
At least 27 people, mainly women and children, were killed in an Israeli airstrike in central Gaza.
Lawmakers on Saturday night came to a last minute deal to keep the rideshare companies, Uber and Lyft, in the state.
Simone Biles and Gabby Douglas are attempting to secure their ticket to the Summer Olympic Games in Paris.
At least 27 people, mainly women and children, were killed in an Israeli airstrike in central Gaza.
Simone Biles and Gabby Douglas are attempting to secure their ticket to the Summer Olympic Games in Paris.
Trump leads comfortably in Florida, as more say he'd improve their finances.
Is the issue of abortion offsetting the drag on President Biden stemming from inflation nationally and immigration in a state like Arizona?
The founder of the design firm Rockwell Group (whose portfolio includes Hollywood's Dolby Theatre, hospitals, hotels, stage sets, and restaurants) talks about the trademark elements he brings to projects, including a virtual revamp of the "Sunday Morning" set.
Samsung piles on with its on ad after Apple apologizes for a spot that it acknowledged "missed the mark."
Wall Street investors are increasingly confident of a soft landing for the U.S. economy, pushing financial markets to new highs.
Some owners of the electric vehicle will be eligible for compensation of up to $1,400 because of a battery problem that caused fires.
TikTok is allowing select users to upload longer-form videos as the social media app looks to compete with YouTube.
Employees of the German luxury car maker reject membership in the United Auto Workers after a contentious campaign.
The following is a transcript of an interview with former Defense Secretary Robert Gates that aired on May 19, 2024.
Trump leads comfortably in Florida, as more say he'd improve their finances.
Is the issue of abortion offsetting the drag on President Biden stemming from inflation nationally and immigration in a state like Arizona?
GOP Rep. Elise Stefanik of New York excoriated Biden over a paused weapons shipment to Israel in her address to the Knesset.
Lawmakers on Saturday night came to a last minute deal to keep the rideshare companies, Uber and Lyft, in the state.
Health authorities are watching for signs the virus might be starting to accelerate again after a springtime lull in COVID rates.
North Carolina Republicans are pushing forward with their plan to repeal a pandemic-era law, citing crime and recent campus protests.
Hypochlorous acid is the latest skin care ingredient making waves on social media for acne prevention — but is it true? We asked dermatologists.
Private-label food supplier recalls 32-ounce pouches of Great Value Organic Black Chia Seeds because of potential contamination.
A new study finds hospitals with a higher share of women surgeons and and anesthetists shave better patient outcomes.
At least 27 people, mainly women and children, were killed in an Israeli airstrike in central Gaza.
Iranian President Ebrahim Raisi was traveling in Iran's East Azerbaijan province when the helicopter was forced to land due to weather. A rescue is underway.
United States National Security Advisor Jake Sullivan met with Crown Prince Mohammad bin Salam on Saturday to discuss a potentially historic bilateral agreement between the two nations.
GOP Rep. Elise Stefanik of New York excoriated Biden over a paused weapons shipment to Israel in her address to the Knesset.
It comes just two days after the Houthis shot down another U.S. military MQ-9 Reaper drone.
Monopoly is the top-selling modern board game of all time, available today in 114 countries and 47 languages, and a myriad of variations. Hasbro's senior VP of board games Brian Baker explains to correspondent Susan Spencer the most important design element to a game's success.
The lifestyle entrepreneur and host of "Martha Gardens" offers tips on preparing a delicious afternoon tea.
After studying design and architecture in college, Courteney Cox pursued modeling and acting, and is forever identifiable as "neat freak" Monica in the sitcom "Friends." Now she's an entrepreneur, creating a line of scented products for the home.
After studying design and architecture in college, Courteney Cox pursed modeling and acting, and is forever identifiable as "neat freak" Monica Geller in the classic sitcom "Friends." Now she's also an entrepreneur, creating a line of scented products for the home. She talks with correspondent Jonathan Vigliotti about why she was inspired to create Homecourt's cleaning and beauty products; her strong bonds with her "Friends" castmates; and about her early big break, appearing in a Bruce Springsteen music video.
Five-and-a-half years ago, Conrad Armstrong made a puzzling career change: after retiring as a software engineer, he turned his hobby of creating intricate wooden jigsaw puzzles into a new calling. Correspondent Susan Spencer talks with the Boston-based puzzle-maker about his artistic wooden puzzles, where each piece is designed and cut by hand.
The Hennessey Venom F5 is not just a sports car; its twin turbo V8 engine can muster more than 1,800 horsepower, almost twice that of a Formula 1 racing car. And yes, you can drive it on the street, for the cool price of $3 million. Correspondent Lee Cowan goes inside the design of a machine that shuns the mundane.
Eight TikTok influencers have filed a lawsuit against the U.S. government in an effort to block enactment of a law passed and signed last month that requires TikTok be sold by China-based owner Byte Dance by January, or face a possible nationwide ban. Scott MacFarlane has more.
From labor shortages to environmental impacts, farmers are looking to AI to help revolutionize the agriculture industry. One California startup, Farm-ng, is tapping into the power of AI and robotics to perform a wide range of tasks, including seeding, weeding and harvesting.
Samsung piles on with its on ad after Apple apologizes for a spot that it acknowledged "missed the mark."
TikTok is allowing select users to upload longer-form videos as the social media app looks to compete with YouTube.
The 40-mile-long river branch, which ran by the Giza pyramid complex, was hidden under desert and farmland for millennia, scientists said.
A new study suggests that the first warm-blooded dinosaurs may have roamed Earth about 180 million years ago.
Extreme heat is known as a "silent killer," and in some areas across Asia, its intensity would have been impossible without one critical factor, a new study found.
Millions of Americans looked to the night sky and snapped magical photos and videos of the northern lights this past weekend during the momentous geomagnetic storm.
Scientists who study such things have found that cicadas urinate in a jet stream because they consume an incredible volume of fluid during their brief time above ground.
Susann Sills' body was found at the bottom of the staircase of her family's San Clemente, California home. What led up to her death?
Columbus Deputy Chief Gregory Bodker told reporters that officers arrived to find a "very chaotic scene."
Disturbing video obtained by CNN appears to show Sean "Diddy" Combs pushing, kicking and dragging his then-girlfriend Cassandra Ventura in a hotel hallway in 2016. Elise Preston reports.
David DePape, the man convicted of attacking former House Speaker Nancy Pelosi's husband with a hammer inside their San Francisco home in 2022, was sentenced to 30 years in prison on Friday. CBS News congressional correspondent Scott MacFarlane has the details.
Police said Gary Allen Srery might also be linked to other unsolved murders and sexual assaults in Western Canada.
Ongoing work to resolve a persistent helium leak has pushed the first piloted Starliner flight back at least four more days, to May 25.
The large explosion of energy and light from the sun comes just days after Earth was slammed with the biggest geomagnetic storm in more than 20 years.
WASP-193b is 50% larger than Jupiter — the largest planet in our solar system — but seven times less massive because of it's extraordinarily low density.
Millions of Americans looked to the night sky and snapped magical photos and videos of the northern lights this past weekend during the momentous geomagnetic storm.
The oxygen valve that derailed a launch try last week has been replaced, but engineers want more time to verify an unrelated helium leak has been fixed.
A look back at the esteemed personalities who've left us this year, who'd touched us with their innovation, creativity and humanity.
A look back at the hallowed career of the indie "B-movie" filmmaker, known for exploitation films, monster flicks, and some bizarre movie posters.
Despite losing three quarters of the blood in her body, Donna Ongsiako was able to help police find the person who almost took her life.
The Francis Scott Key Bridge in Baltimore collapsed early Tuesday, March 26 after a column was struck by a container ship that reportedly lost power, sending vehicles and people into the Patapsco River.
When Tiffiney Crawford was found dead inside her van, authorities believed she might have taken her own life. But could she shoot herself twice in the head with her non-dominant hand?
Comedian Jerry Seinfeld sits down with Mo Rocca to discuss his latest film, “Unfrosted,” about the made up tale of Pop-Tarts. Then, Conor Knighton visits Waterford, Ireland, to learn about the history of Waterford Crystal. “Here Comes the Sun” is a closer look at some of the people, places and things we bring you every week on “CBS Sunday Morning.”
Watch the full version of Margaret Brennan's interview with Former Secretary of Defense Robert Gates that aired on May 19, 2024, on "Face the Nation with Margaret Brennan."
We leave you this Sunday with weaver birds at South Africa's Kruger National Park. Videographer: Judith Lehmberg.
Monopoly is the top-selling modern board game of all time, available today in 114 countries and 47 languages, and a myriad of variations. Hasbro's senior VP of board games Brian Baker explains to correspondent Susan Spencer the most important design element to a game's success.
In 1975, Tim Leatherman decided to put his engineering degree to use and see if he could somehow combine a pocket knife with pliers. His tinkering that forged a "multitool" would lead to Leatherman, a Portland, Oregon-based company that specializes in designing foldable jacks-of-many-trades (and many blades), churning out 10,000 a day, each assembled by hand. Correspondent Conor Knighton reports.