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Ailing video game retailer GameStop reported its fourth-quarter 2020 earnings on Tuesday afternoon, which also included the company's fiscal year results ending February 1, 2021.The company's report came in shy of analyst expectations for the year, with $5 billion in revenue — a decrease from the previous fiscal yea...

It feels like a fever dream now, but for one week in late January all anyone in the media could talk about was Gamestop's skyrocketing stock prices. In case you've already driven the episode out of your memory, here's a brief recap: A Wall Street hedge fund had placed a big bet that America's biggest chain video gam...

Summary List PlacementJust under two years since he joined GameStop as Chief Financial Officer, Jim Bell is resigning as of this week. In a press release, GameStop said it is looking for a new executive to take Bell's place. The candidate should have, "the capabilities and qualifications to help accelerate GameStop's transformation," the release said. Senior Vice President and Chief Accounting Officer Diana Jajeh...

Summary List PlacementRetail investor Keith Gill, better known as "Roaring Kitty" on YouTube, worked an inside internet joke into his opening remarks to Congress during a hearing to discuss the GameStop trading events. Gill referenced a viral video in which a lawyer found himself accidentally turned into a cat thanks to a Zoom filter. "A few things I am not," Gill told the House's...

Summary List PlacementRep. Brad Sherman accused Citadel CEO Ken Griffin of "wasting his time" during a Congressional hearing about January's GameStop stock trading frenzy on Thursday.  Sherman, a Democrat from California, became heated and interrupted Griffin multiple times as he questioned the executive if Citadel gives better prices to certain brokerages, like Robinhood and Fidelity, to execute their trades.  Griffin began answering the question...

Summary List PlacementRyan Cohen is invested in three things that we know of: Apple, Wells Fargo, and GameStop.  The entrepreneur and investor can attribute much of his wealth to the success of Chewy, which he cofounded and sold for $3.35 billion.  He sat in tears outside the NYSE the night before the company went public in June 2019. "It was emotional," he told the...

Summary List PlacementThe army of Reddit day traders appears to be moving on, having pumped up everything from cryptocurrencies, to tiny biotech stocks in the last week, now that their firing up of GameStop, AMC, Nokia and co seems to have mostly run its course.  This coming week, we'll be looking at the future of Ethereum, the pickup in consumer inflation and what the...

Summary List Placement Hedge-fund billionaire Ray Dalio worries the GameStop saga was a product of national division and inequality. The Bridgewater Associates boss said the discontent will eventually spark a civil war. Politicians should reengineer the capitalist system to distribute wealth more evenly, Dalio said. Visit Business Insider's homepage for more stories. Billionaire investor Ray Dalio isn't worried about the Reddit users who collectively...

Summary List PlacementAfter scheduling a hearing into the GameStop trading fiasco, House Financial Services Committee Chairwoman Maxine Waters told Cheddar that she wanted Reddit trader Keith Gill, the Robinhood CEO, and a representative from GameStop to testify. "I have [Keith Gill] on my list to be present…I want him here... And I want absolutely to have Robinhood. I even want to have GameStop here,"...

Summary List PlacementThe Reddit-fueled market mania that sent GameStop and other heavily-shorted stocks soaring last month has often been described as a perfect example of retail investors sticking it to the Wall Street establishment. But not everyone on Wall Street was betting against GameStop. New York-based hedge fund Senvest Management started investing in GameStop before it caught fire with much of the r/WallStreetBets crowd,...

Summary List PlacementStock markets around the world are reeling from Reddit traders' volatile trading over the past week. How the speculative activity continues could determine whether the trend pops with little lasting impact or sparks a new discussion over economic equality. What began as an effort to profit from a short squeeze has since exploded into a national debate on market access. Retail traders...

Summary List PlacementGameStop's founder and his family are closely following the firm's exploding share price this month.  Ben Kusin, whose father Gary co-founded GameStop, had been an active member on the Reddit forum cheering on the company's spectacular rally. Kusin told CNBC's Ari Levy his father and brother have been actively watching the drama unfold as GameStop shares skyrocketed as much as 2000% month-to-date. ...

Summary List PlacementSteve Cohen, the hedge-fund billionaire and owner of the New York Mets, has deactivated his Twitter account, saying on Saturday his family received threats amid a Reddit-fueled buying frenzy of GameStop stocks.  "I've really enjoyed the back and forth with Mets fans on Twitter which was unfortunately overtaken this week by misinformation unrelated to the Mets that led to our family getting personal...

Summary List PlacementSilver Lake Partners, a private-equity firm and, until recently, a major investor in AMC Entertainment, disclosed in a regulatory filing Friday that it has sold all of its equity in the company. Silver Lake dumped its shares for $713 million on Thursday, turning a roughly $113 million profit on its initial investment, according to the filing. The move came near the peak...

Summary List PlacementRobinhood sparked the outrage of its users this week after it throttled their ability to buy shares of GameStop and other red-hot stocks amid a market frenzy. Bitreporter, an online cryptocurrency and financial news website, mapped out that anger using geotagged Twitter data, and unearthed more than 120,000 tweets over the past two days from users venting about the situation via hashtags...

Summary List PlacementFollowing days of Reddit-fueled trading of volatile stocks and the subsequent trading freezes imposed by the fee-free stock trading app, Robinhood, Rep. Alexandria Ocasio-Cortez tweeted that she will discuss the recent developments on the livestream video service, Twitch, Thursday night at 8:30 p.m. EST. Ocasio-Cortez initially said she would be joined by Chamath Palihapitiya, CEO of venture capital firm Social Capital, and...

Summary List PlacementRobinhood CEO Vlad Tenev shot down speculation on Thursday about the company's finances, telling CNBC's Aaron Ross Sorkin "there was no liquidity problem." The rumors arose after Bloomberg reported Robinhood had borrowed "at least several hundred million dollars" from banks amid the recent trading frenzy on its platform. "In terms of the credit lines," Tenev told CNBC, "that was really a proactive measure."...

Summary List PlacementThe drama continues to escalate around Robinhood's decision on Thursday to restrict trading of certain highly volatile stocks, particularly GameStop and AMC — a highly unusual move that left its users temporarily unable to buy the stocks. And venture capital firm Sequoia, a large Robinhood investor, is on the defensive.  On Thursday afternoon, Sequoia went as far as issuing a statement denying...