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Shares of GameStop, AMC Entertainment, Koss Corp and BlackBerry all dropped at least 20% moments after the shuttering of the forum, highlighting the role it has played in fueling stock rallies that many say have been driven primarily by retail investors.Įarlier in the day, amateur traders chalked one up versus Wall Street as hedge funds suffered heavy losses on short positions in GameStop, and regulators and financial professionals called for more scrutiny of trading fueled by anonymous social media posts. We’ve got so many comments and submissions that we can’t possibly even read them all, let alone act on them as moderators,” read a message from the group’s moderators after Wallstreetbets reopened. One up on Wall Street Item Preview remove-circle Share or Embed This Item. “We have grown to the kind of size we only dreamed of in the time it takes to get a bad night’s sleep. Lynch managed the Magellan Fund and generated a stunning 29.2 annual return over a 20 year period. They pared those losses around an hour later, when the forum opened back up. One Up On Wall Street by Peter Lynch Who is Peter Lynch Peter Lynch, born on January 19, 1944, is a legendary American stock investor and businessman.
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Shares of GameStop and other companies tumbled in extended trading after Wallstreetbets, a discussion forum popular with retail traders on the Reddit website, briefly turned invitation-only.