... digital — or at least something that would accumulate cultural cachet in the digital realm of Instagram selfies and Reddit flexes. Canadian investing app Wealthsimple is labelling some stocks as "risky" after this week's volatility in shares of GameStop, BlackBerry and other social media darlings. Canadian investing app Wealthsimple is labelling some stocks as "risky" after this week's volatility in shares of GameStop, BlackBerry and other social media darlings. While this was all happening, a number of short-sellers and hedge funds put huge bets to short the stock. Finance: “In two short weeks, GameStop and AMC stock investors have gone from the new Wall Street kingmakers to naïve newbies. If lowering risk is important to you, but you’d like to see a bit more return – the conservative portfolio may be more up your alley. Cash. Then on Monday, Reddit founder Alexis Ohanian tweeted at the infamous venture capitalist and early Facebook investor Chamath Palihapitiya, telling him to buy GameStop, and he obliged. Canadian investing app Wealthsimple is labelling … The GameStop stock page on Wealthsimple’s app advises users that the ticker, GME, is considered risky and that traders should expect high volatility. Wealthsimple Trade says new users increased by 80 per cent to 380,000 between July and December. Funds used to send, receive or spend money in your Cash account are held in a Wealthsimple Save account. I just want to say thanks to all the apes that check in on reddit to read read the DD, watch the memes and upvote good posts. A conversation with Ben Reeves, resident market genius (and Chief Investment Officer at Wealthsimple), who explains what happened, the changes it shows in the world of investing, and how, in some ways, it reflects the same problems individual investors have always faced. Has anyone noticed their wealthsimple accounts frozen (due a request to transfer out that you did not initiate)? Tax. We have lots of great resources on investing in our Magazine and in our Finance 101 section. Products. In the U.S., shares of GameStop dipped below $100 a share. GameStop logo is seen in front of displayed Reddit logo in this illustration taken on Feb. 2. Wealthsimple US, Ltd. is registered as an investment adviser under the Investment Advisers Act of 1940 and uses Apex Clearing Corporation as broker/dealer for Wealthsimple investment accounts. Wealthsimple Trade says new users increased by 80% to 380,000 between July and December. How do I do it? With the Wealthsimple Trade app? Yes! And no. You have to open a new, dedicated Wealthsimple Crypto account. But your crypto account lives inside the Wealthsimple Trade app, so you only need to download one app to buy and sell stocks, bonds, ETFs and crypto. So you must obviously think it’s a good thing to invest in, otherwise you wouldn’t have made Wealthsimple Crypto. Wealthsimple adds 'risky' label to GameStop, BlackBerry stocks amid investor frenzy TORONTO — A rollercoaster week of trading for investors in GameStop, BlackBerry and other hot stocks has resulted in trading bans, warning labels for certain stocks and questions over both fairness and systemic risk in the financial system. The statement from regulators comes after Toronto-based robo-advisor Wealthsimple moved last week to label GameStop, BlackBerry and other companies ‘risky’ because of recent volatility. WallStreetBets is the anonymous chat room on the Reddit platform that is widely credited — or blamed — by commentators for driving the investor pile-up into GameStop … A GameStop storefront is shown before opening Thursday morning, Jan. 28, 2021, in Dallas. As a recap, several online message boards, including Reddit, have pushed the price of GameStop and other shares up in recent weeks. A tweet from Wealthsimple says the Canadian app is seeing delays in email notifications amid extremely high volumes. Will a stock in Detroit-based Rocket Companies now soar to the stratosphere simply due to short-squeeze speculation? Read on to see what happened last month, how investments are performing and what lessons can be learned from investing in buzzy stocks. Wealthsimple adds 'risky' label to GameStop, BlackBerry stocks amid investor frenzy Back to video The resulting volatility caused Canadian investing app Wealthsimple to add a ‘risky’ label to GameStop, BlackBerry and other stocks, advising traders that they should expect high volatility. This surge in popularity for Wealthsimple Trade comes as a number of retail investors on social platforms such as Reddit have coordinated to buy shares in GameStop and a number of other stocks, resulting in sweeping disruptions to public markets and digital trading platforms. The GameStop stock page on Wealthsimple’s trading app advises users that the ticker, GME, is considered risky and that traders should expect high volatility. The online Reddit community, many of whom are gamers know GameStop very well as they’ve been going to their stores for years to buy the latest games and consoles. Wealthsimple said on Monday it has raised $750 million (US$610.40 million) in its latest funding round, which more than doubled the Canadian fintech company's valuation to $5 billion. Other Canadian investment firms are so far not following Wealthsimple. As of Friday, it was the most downloaded free app in Apple’s Canadian store. Master of the Universe Gabe Plotkin took a billion-dollar bath in the GameStop brouhaha. The head of Canadian online trading platform Wealthsimple Financial Inc. said there's no plans to curb or throttle investors' ability to trade in certain securities. How the tale of Reddit, GameStop, Robinhood is really about 5 big trends What happened this week with Gamestop, Reddit and Robinhood was shocking, unprecedented and unforeseen. Investing on autopilot. Reddit. As of Friday, it was the most downloaded free app in Apple’s Canadian store. The Reddit forum where users were first encouraged to buy shares of GameStop, called WallStreetBets, now has 8.6 million members, up from two million less than a … The GameStop stock page on Wealthsimple's trading app advises users that the ticker, GME, is considered risky and that traders should expect high volatility. As of noon eastern standard time, the GameStop stock was down 27 percent at $255. Wealthsimple is not currently blocking users from trading GameStop and other stocks. Leave a … Labeling this DD because, aside from having to do with an offer to be paid to post DD, I actually performed due diligence on the offer.. If you think those alarm posts yesterday about top posters here/YouTubers getting paid to distract apes during the MOASS was FUD, I'm here with proof it's totally fucking true. Toronto-based Wealthsimple Trade offers unlimited commission-free stock trading. Photo by Wealthsimple Article content. GameStop's improbable run has lifted its stock to meteoric heights - all propelled by ordinary investors, spurred by a Reddit message board, looking to … It was my fault for not directly asking if the short position in GameStop must be covered. The Canadian Press. Here in Canada, Wealthsimple did no such thing, allowing investors to trade freely in those securities, helping drive the trading platform to the top of the app store. Online stockbrokers had a breakout year in 2021 but the best is yet to come for innovative stock brokers as they go public. I randomly noticed it this morning with mine, right after I happened to post my vote/screenshot of it. Gg. Wealthsimple refuses to restrict trading in Reddit-fuelled stocks. Everyone who has GameStop shares with Wealthsimple: DON’T VOTE ON THE BROADRIDGE LINK THEY WILL SEND OUT Wait until voting opens which is probably around Fidelity’s time of voting proxy opens.
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