‘Big Short’ investor Michael Burry paved the way for the GameStop frenzy when he bought a stake in 2019. Here’s the story of Burry’s game-changing bet.

Michael Burry of “The Big Short” laid the groundwork for the GameStop short squeeze. The Scion Asset Management boss purchased a stake in the video-game retailer in 2019. He also pushed for changes in three letters to GameStop’s bosses. “The Big Short” investor Michael Burry unknowingly lit the spark that ultimately led to the GameStop … Read more

Quest for Hollywood fame splits Redditors fuelling market frenzy

Late on Wednesday, a moderator of the popular Reddit message board WallStreetBets posted several screenshots on the chat app Discord. They showed that other moderators had quietly started talking among themselves about landing a movie deal. “What’s our cut?” one of the moderators had asked in a Discord chat, according to the screenshots. By Thursday … Read more

Reddit trading frenzy fades as US Treasury’s Yellen summons agencies

A social media-driven trading cooled on Wednesday as U.S. Treasury Secretary Janet Yellen called a meeting of top officials that could result in tougher markets regulation for hedge funds, small investors and stockbrokers. Mass buying by amateur traders over the past two weeks has driven wild price gyrations in companies that big U.S. fund managers … Read more