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GameStop soars 100 percent as Reddit’s WallStreetBets board crashes

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GameStop soars 100 percent as Reddit’s WallStreetBets board crashes

The mother of all meme stocks is acting up again.

Shares in GameStop skyrocketed 103.9 percent on Wednesday, with almost all of that action bubbling up in the final hour of trading.

The bizarre rally resulted in shares of the video-game retailer being halted with less than 30 minutes to go before the closing bell — and Reddit crashing by 4 p.m. as onlookers rushed to the site to figure out what was going on.

“Wtf!!! How the hell does gme grow from 45$ to 110$ in a hours…. so glad I bought a few more at 43$,” one user wrote.

The frenzied buying resulted in shares of the video-game retailer closing up $46.74 a share to $91.71 and continued to rise after hours, recently up 59.2 percent to $146.00.

The rally follows an executive suite reshuffling Wednesday — and fresh rumors on Reddit of efforts by Wall Street to short the stock, or bet on its decline.

Shares in the Texas-based video game retailer started their climb earlier Wednesday after GameStop said chief financial officer James Bell would leave on March 26 after less than two years in the job.

The company didn’t explain why Bell was leaving, but hinted that the move could help supercharge its digital growth plans by saying GameStop has hired an executive search firm to help pick a successor who can “help accelerate GameStop’s transformation.”

Business Insider, meanwhile, reported that Bell was pushed out by Ryan Cohen, co-founder of Chewy, who made an investment in GameStop last year in an effort to help the company shift to more digital games as the industry moves online.  

Rumors on Reddit’s WallStreetBets trading forum of more short selling may have helped fuel the rally. Just after 2:30 p.m., a user posted that “1.4 million more GME shares have been borrowed today (so far). Hedge Funds are flooding the market with shorts.”

That post was later removed, but fellow Redditors had already begun to respond by posting memes of rocketships and “diamond hands,” which are how the WallStreetBets army signals to each other that they plan to plow into a stock.

Attacking Wall Street short sellers was a driving ethos behind the GameStop rally that sent the stock up more than 1,600 percent in a matter of weeks last month. And it worked to hurt large hedge fund like Melvin Capital, which lost a reported 53 percent last month.

The retail trading frenzy has become the subject of movie and book deals. It also resulted in hearings on Capital Hill last week with popular Redditors like Keith Gill using the forum to express continued confidence in the stock.

Gill — who goes by the name of “Roaring Kitty” on YouTube and “DeepF***ingValue” on Reddit — also sent GameStop shares soaring on Monday after he revealed he had doubled down on his investment one day after getting grilled by lawmakers.

On Wednesday Gill reacted to the rally by tweeting a gif of a man drumming and cat seemingly nodding to the beat of the drum.

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Disneyland fans forced to wait hours to buy a ticket online

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Disneyland fans forced to wait hours to buy a ticket online

Disneyland fans who have been waiting over a year for the popular theme park to reopen are being forced to wait hours to snag a ticket online as demand heats up.

The Anaheim, Calif.-based park started selling tickets again on Thursday ahead of its planned April 30 reopening. But within a few hours of the ticket window reopening, the website was overwhelmed — creating a backlog that continued into Friday, according to social media posts.

“Remember when we were Annual Passholders and we didn’t have to deal with this queue bulls–t,” tweeted one fan.

The company on Friday acknowledged that guests may have to wait “several hours of more” for a ticket.

“We are experiencing high demand given the historic nature of the Disneyland Resort’s reopening,” a spokesman from Disneyland told The Post. “To deliver a strong guest experience, we are deliberately pulsing guests through the system. Wait times may be several hours or more depending on when you joined the queue.”

On Friday morning around 9 a.m. ET, the queue’s wait time was only around 20 minutes before ballooning to more than an hour just two hours later.

“We still have plenty of reservation availability, and we plan to keep the system open to accommodate the demand,” the spokesman added. “Please don’t refresh and we will get you through the queue as soon as we can. We know you are just as excited to return to the Disneyland Resort as we are to welcome you back, and we thank you for your patience as we work to accommodate as many guests as possible.”

While some Mickey fans were able to book tickets, others griped on Twitter that Disneyland’s site timed out or they landed on a webpage with the Seven Dwarfs that read: “We’re Working on It. This page is temporarily unavailable. Rest assured, we’ll fix the issue soon, so please try again later.”

Frustrated fans took to Twitter to air their grievances Thursday and Friday.

“For those of us trying to get #Disneyland tickets this morning,” read a tweet that included an encouraging “Star Wars” gif that read “May the Force be with us.”

Another weary customer tweeted: “I have a feeling this image will haunt me for the rest of my life… #Disneyland.” The tweet a cartoon image of the park’s ride “Big Thunder Mountain Railroad” that was accompanied by the Mouse House’s boilerplate message to “Please Sit Tight” wait on line.

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Dogecoin jumps again to double record rally price

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Dogecoin jumps again to double record rally price

Dogecoin has doubled from its Wednesday morning rally to reach prices of more than $0.30 Thursday night.

The dog meme-inspired cryptocurrency — that began as a joke — is up 400 percent over the past week, according to Coindesk.

The surge came a day after Wednesday’s stock market debut for the cryptocurrency exchange Coinbase, which was considered a sign of Wall Street’s acceptance of crypto. However, Dogecoin is not listed on Coinbase.

Doge was the No. 1 trending topic on Twitter Thursday night, and at least one user told The Post they were unable to purchase the currency on Robinhood, due to the app crashing as its value skyrocketed.

“Doge Barking at the Moon,” tweeted SpaceX’s Elon Musk, who once said Dogecoin is his favorite Bitcoin rival.

“Me on Robinhood checking if #dogecoin has reached the moon every 2 seconds,” another user tweeted.

“There is fixing to be a lot of Meme Millionaires,” one user posted.

Dallas Mavericks owner Marc Cuban began accepting Dogecoin for payment for NBA tickets and merchandise last month.

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Robinhood sues Massachusetts over regulatory clampdown

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Robinhood sues Massachusetts over regulatory clampdown

 Online brokerage Robinhood on Thursday sued to invalidate Massachusetts’ recently-adopted fiduciary rule and block state regulators from proceeding with charges it encourages inexperienced investors to place risky trades without limits.

Robinhood in a lawsuit filed in state court in Boston said the fiduciary standard of conduct for broker-dealers that Massachusetts Secretary of State Bill Galvin’s office adopted last year violates state and federal law.

A spokeswoman for Galvin did not respond to a request for comment.

Galvin, the state’s top securities regulator, in December filed an administrative case accusing Robinhood of using aggressive tactics to attract inexperienced investors and failing to prevent outages on its platform.

He accused the app-based service of using strategies that treated trading like a game to lure young, inexperienced customers, including having confetti rain down for each trade made on its app.

The case is the first enforcement action brought under a state fiduciary rule adopted in September that raised the investment-advice standard for brokers.

Regulators are seeking a fine and order requiring Robinhood to engage a compliance consultant to review its platform and policies. Robinhood has denied wrongdoing.

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