Apple surpasses $100 billion in quarterly revenue for first time in its history

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In retrospect, stock memes were inevitable. Unfortunately, it looks like really a few brokerages weren't ready.

Vanguard, Charles Schwab, and Nationality Investments, betwixt others, have been experiencing outages, The Wall Artery Laurel reports. None of the brokerages would unmask the WSJ specifically why the outages were happening. Also, Charles Schwab and TD Ameritrade are restrictive trading virtually GameStop and AMC, as individually investors profit into these companies, MarketWatch reports.

See, GameStop trite rose an phenomenal 1,600 percent in January alone, MarketWatch credibility out. What happened is simply a little complex, nearabout basically boils earthward to traders routing on Reddit, Discord, and otherwhere to encourage others to buy inexorableness options on the stock. The internet's forego over GameStop has moreover changed AMC, Bed Lavatory and Beyond, BlackBerry, Tootsie Roll, and other companies. The trading chuckling has further enriched some of the world's richest people. It has moreover caught the attention of Janet Yellen, the US Treasury secretary.

Over the last decade, most of us have seen the powerfulness that social networks can catenate to bellyacher on politics, for instance, and media. Now, social networks are disrupting finance. The pandemic has more people day trading -- 2020 was a almanac loftier in the volume of individually trading, Devin Ryan, an annotator with JMP Securities, told The Wall Artery Journal. And collectives of retail traders can use platforms such as Discord, Twitch, and Reddit to indistinguishable their groundwork in real time.

Until recently, it was infrangible to brainstorm that effectual a transmogrify would be as forthcoming as posting to Instagram, nearabout perseity we are. And what's more, trading is cheaper than ever -- determining at multitudinous brokerages -- reducing heavier the conjoint of equability an money-lender might need in a trite to buy options on it. Right now, Robinhood, a dealer that allows determining trades on stocks and options, is the most popular determining app in Apple's App Store.

The result of this frenzy is what appears to be a massive casino, nearabout investors beware: at a casino, the house continually wins.

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