On March 8th, London Metal Exchange (LME) suspended trading due to a 250% price spike in nickel within 24h hours. The question around why a somewhat conspicuous commodity like nickel would cause such chaos is an important and interesting one. So, what happened?
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Last Friday, the House Committee of Financial Services called upon Robinhood and Citadel CEOs Vlad Tenev and Ken Griffin to testify before Congress for restricting trading of GameStop stock on the Robinhood app.
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If you have been keeping up with financial news lately or even just looked at Twitter, you are probably asking yourself a couple of different questions.
WallStreeBets? GameStop? Robinhood? Diamond Hands? Reddit? What does all this have to do with one of the biggest losses in Wall Street history?
Investing in the stock market can be a very risky thing. Some individuals even compare it to gambling because it is hard to forecast the outcome of the stocks that one buys. For example, will the stock’s price rise or fall? Will one lose everything they invested? Or will one make enough money to retire early? It is nearly impossible to know. In recent weeks, the stock market has caught everyone’s attention in the nation and worldwide. By now, individuals across the country have probably heard of the GameStop (GME) stock frenzy. But what happened?
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