GameStop's stock surge explained (full interview)

Jeff Bakalar talks to CBS News Business Analyst Jill Schlesinger about GameStop's wild stock ride and how a subreddit helped kick off its meteoric rise in the face of the financial institutions that had been shorting it.

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#GameStop #StockMarket #CNETNews

[ammaralramdhan]

This lady sounds like she's the mom from the incredibles

[joshuamitchell]

Louis Rossman put it like this, "A lot of people aren't valuing GME's financials, or earnings, or the like. They are valuing GME based off how much it will make billionaires cry."

[BronzenHahn]

Game stop was 100% shorted. That means they can't get more capital. The point of the short was to destroy gamestop. Don't sell and donate to charity. Crush those venture capital casino gamblers. Then sell and use the earnings to bankrupt the next venture capital firm by buying AMC. Hats off to redditwallstreetbets

[comedyfish]

What went wrong? Nothing. Everyone seems happy except hedge funders

[nickname]

It wasn't just Reddit. Burry saw the opportunity and went against the shorts before GME blew up on Reddit. Burry is also the guy from the movie The Big Short.

[Noms_Chompsky]

Hmm, so what you're telling me is that the Hedge Fundies failed at due diligence and didn't realize gamers gonna game.

[aaronmckee]

She sounds like shes on the hedge side, probably got a lot of friends in the business...🤔

[cjspyker]

these particular short sellers were bad nobody likes Marlin group

[dionysus_]

So basically wall st or whoever borrowed gme stocks to sell short and the reddit community went against that and bought a bunch of stocks causing the stocks to skyrocket?

[lisajojackson]

the bias is palpable. The last sentence is electrocuting the dead horse: "Donate your profits to a food bank."--former fulltime vampire (commodity options trader)

[gregfromthevaley]

Does she really think they need advice from her if they were able to outsmart wall street 🤣

[EddieStarr]

Your Guest did a terrible job describing what’s going on, I understand less now

[pastorofmuppets]

4:28 sounds a little 50 shades of grey to me

[snakedike]

I didn't know about gamestop and frankly wouldn't have bought it but I bought Macy's and iRobot in part due to the large short interest. If you look at any heavily shorted company right now they are spiking largely proportional to the degree in which they have been shorted. Shorts are panicking and probably with some good reason which is causing the squeeze.

[raeldri]

Missed the part that WS shorted GameStop over 100% (that's called naked shorting search it) they are forced to buy at current price due to the demand of stocks

[jasonwilliams]

When they short sale they manipulate the market by announcing they are going to short sale to specifically scare investors to sale and bring down the value. How is that good?

[fcfdroid]

We NEED more videos on stock like this!

[WernerSevenster]

Short selling should be illegal. It's never good.

[showtimekid]

I love this but I don’t think it’s gonna last long for us unfortunately

[SteveSurgenor]

Why didn’t she ask Wall Street to donate to local food banks !