Business
Reddit day traders fatten fortunes of the super-rich, such as Ellen Gordon, Wang Jianlin and Ryan Cohen – The Australian Financial Review
Chewy co-founder Ryan Cohen added about $US1.6 billion with his holding in GameStop, the video-game retailer that has surged more than 1500 per cent this year.
Day traders have been piling into previously unloved tickers favoured by short sellers in recent sessions, driving them to record highs. The meteoric rally of GameStop has already worn down some institutional investors and Melvin Capital closed out its short position by Wednesday.
Mrs Gordon owns just over half of Tootsie Roll Industries common shares and 81 per cent of its B shares, according to company filings. Her stake in the maker of Tootsie Pops, Junior Mints and Dubble Bubble gum, which she…
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