News for NAKED BRAND GROUP LTD (0SQA.MU)

The group of "meme" stocks, led by videogame retailer GameStop Corp. undefined that have been volatile in recent weeks as investors on a Reddit subgroup have...

GameStop Corp. shares undefined rose 13% in premarket trade Friday, and looked poised for another day of high-volume activity. The videogame retailer's stock...

GameStop Corp. shares undefined rose 13% in premarket trade Friday, and looked poised for another day of high-volume activity. The videogame retailer's stock...

(Feb 25): GameStop Corp soared in premaket trading Thursday, as retail investors revived the surge in Reddit-favourite stocks, putting it on pace to reap US$7.6 billion in market value over two days. The video-game retailer rose as much as 83% to US$168 in New York. Among other favourites of traders populating Reddit forums, AMC Entertainment Inc advanced 12% premarket, after gaining 59% in the first three days of the week, while Koss Corp surged 78%. Nokia Oyj, also a favourite of the meme crowd, climbed 7.7% in Europe, and BlackBerry Ltd added 5.3% in early trading.

NAKD stock is screaming for the top as retail investors order another round of freshly squeezed shorts to the table.

Many Canadians investors have been engrossed by the phenomenon south of the border in which retail investors joined together on message boards and Twitter to buy shares of heavily shorted stocks to exact short squeezes.

The stock fell 80% in the last five days, its worst weekly performance on record, to $63.77 in New York.

/PRNewswire/ -- A class action lawsuit filed in California Southern District Court on January 28, 2021 has been amended to include six hedge fund companies...

GameStop Corp. (NYSE: GME) shares jumped Friday after Robinhood completely lifted restrictions on buying shares of so-called meme stocks, including ...

(Bloomberg) -- GameStop Corp. and AMC Entertainment Holdings Inc. rebounded after Robinhood Markets removed limits on buying the two stocks, which have been at the center of the battle between Reddit-empowered retail traders and short-sellers.Both shares rose Friday, with GameStop’s surge of as much as 78% triggering three volatility halts after whipsawing between gains and losses. It was up about 36% to $72.89 as of 10:34 a.m. in New York. AMC shares were up 4.2% after surging as much as 17%.Robinhood’s move, announced in an update on the trading platform’s support page, comes a day after it increased limits on purchases of the two stocks. Both have skyrocketed since late January as day traders who populate Reddit’s WallStreetBets forum sought to fend off short-sellers.GameStop’s volatile morning came amid a rush of volume over the first hour of trading. With about 40 million shares swapping hands, the rate of buying and selling at the start of the session was double what’s been seen over the past week.GameStop had plunged 84% so far this week through Thursday while AMC tumbled 47% as retail traders flocked to other corners of the stock market, such as small drug developers. Shares of the video game retailer have plummeted 84% since hitting a record intraday peak of $483 last week, reducing its market value by about $28.3 billion to $5.5 billion. The stock is still up 300% this year.Robinhood’s temporary restrictions on the Reddit group’s favorite stocks last week triggered an outcry among retail traders who said the brokerage had sided with hedge funds and institutional money. In order to shore up its capital amid the trading frenzy, the trading app operator has had to borrow or raise billions of dollars.Trading in other Reddit-favored names were mixed Friday morning with Naked Brand Group Ltd. and headphone maker Koss Corp. gaining after initial losses. Cannabis company Sundial Growers Inc., retailer Express Inc., and Ezgo Technologies Ltd. were among other “meme stocks” that erased gains to trade lower. Zomedica Corp. surged as much as 30% before trimming gains.Limits on trading and the quick declines for the likes of GameStop and Express led retail investors to snap up biotechnology companies like Cassava Sciences Inc. The small drug developer has boomed more than 700% this year to become the top stock in the Nasdaq Composite Index. Cassava fell as much as 24% on Friday.Robinhood’s RoleVlad Tenev, the chief executive officer of Robinhood, said in an opinion piece on USA Today this week that the firm built the trading app to serve the millions of people left behind by the U.S. financial system -- not hedge funds.The short-term curbs haven’t damaged the popularity of the no-fee app, founded in 2013. It was downloaded more than 600,000 times last Friday alone, according to research from SimilarWeb and JMP Securities LLC.Robinhood’s Role in the ‘Gamification’ of Investing: QuickTake(Updates with latest share price moves and additional details throughout.)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.

GameStop Corp. shares reversed course Monday, retreating from their record weekly gain, after one noted analyst said more than half of the short positions on...

GameStop Corp. shares reversed course Monday, retreating from their record weekly gain, after one noted analyst said more than half of the short positions on...

(Bloomberg) -- Robinhood Markets Inc. reduced the number of companies with trading restrictions to eight from 50, ahead of Monday’s trading session, according to an update on its website.The current list includes GameStop Corp., AMC Entertainment Holdings Inc., BlackBerry Ltd., Express Inc., Genius Brands International Inc., Koss Corp., Naked Brand Group Ltd. and Nokia Oyj.Opening new positions in these securities is limited, according to Robinhood’s website, which listed the maximum number of shares and options contracts each user can hold. For those whose current holdings already exceed the limits, their positions won’t be sold or closed.Robinhood put buying restrictions in place after its clearinghouse deposit requirements for equities increased last week, the company said in a blog post on Friday. “It was not because we wanted to stop people from buying these stocks,” Robinhood said.The trading app, popular among retail investors who fostered the rise of GameStop stock, has been under fire across the political spectrum for its decision to restrict trading of high-flying stocks that surged after being touted on social media.Senator Elizabeth Warren on Sunday called for a broader review by the U.S. Securities and Exchange Commission on recent trading swings and said a broker-dealer like Robinhood that invites a lot of individual investors needs to operate “under some basic rules.”Robinhood’s Trading Restrictions Not Illegal: Fmr. SEC Counsel (Video)“You can’t do that in the middle of a trading cycle,” Warren said of Robinhood’s trading limits on CNN’s “State of the Union.” “It’s not about protecting people from making bad trades. It’s about keeping the playing field level.”A representative for Robinhood declined to comment beyond the website’s update.Multiple lawsuits have been filed against Robinhood, mostly alleging restrictions by the trading platform that amounted to a breach of contract. Still, investors who sued online brokerages over claims they were unfairly blocked from trading shares may have a long wait before their cases are resolved.(Updates with more details throughout)For more articles like this, please visit us at bloomberg.comSubscribe now to stay ahead with the most trusted business news source.©2021 Bloomberg L.P.