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CryptoQuestion — February 2021 News Bulletin
Latest News in the Cryptocurrency and Investment World
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The hot topic in the news over the last few weeks has been Reddit, Robinhood and moonshots. They say it is a David vs Goliath story. David is represented by the day traders and small investors who populate the Wallstreetbets community on the discussion platform Reddit and Goliath are the fund managers or the Wall Street establishment who have been apparently guilty of betting against certain stocks i.e. shorting them.
GameStop was the first notable stock on the Wallstreetbets radar after a few canny participants noticed it was heavily shorted. On January 11th GameStop announced that three new directors were joining the board. That was the catalyst for things to come. That announcement led to an increase of 13% in its share price. A few days later the price rose by 57% and then 27%. The community quickly got behind AMC, Blackberry, Macy’s…
