BIZ Massive Increase in GameStop Shares Putting Wall Street Tactics to Shame by Katie Malespina January 27, 2021 How GameStop Stocks Starting Soaring GameStop has been around since 1984 and for years it has been providing its customers with the latest games and electronics. By why all of the sudden is the small gaming merchandise store rising in shares? This spike in stocks, however, didn’t come from the company itself, it all started on an app called Reddit. Reddit is a social platform that people post news on, talk about ratings for things, post discussions on different topics, and, in this case, take down Wall Street. People on the app have collectively come together to curve investors on Wall Street. According to The New York Times, “Its shares have risen over 1,700 percent since December. Between Tuesday and Wednesday, the market value rose over 10 billion.” Even though the people of Reddit are small investors, together they have outsmarted Wall Street tactics. When short sellers borrow a stock, they are hoping the stock goes down, so when they repurchase it they are making a profit. When the stock is at a lower price they can pocket the remaining money left over. Youtuber/Reddit User Invests Life Savings to GameStop Back in August, one person on Reddit made a bold move. His user name is; Deepf**ingvalue on Reddit and Roaring Kitty on Youtube. This guy took a huge chance and invested his entire life savings into GameStop. The reason he invested so much was that he thought the company had some potential and had a feeling it was going to go up. There was $50,000 that was put into the company and luckily for him, GameStop stocks started going up and he ended up making $15 million. This is all thanks to the small investors on Reddit. Photo by Ishant Mishra on Unsplash Post Views: 286 The following two tabs change content below.BioLatest Posts Katie Malespina Latest posts by Katie Malespina (see all) Hideki Matsuyama Becomes First Japanese Man to Win The Masters 2021 - April 13, 2021 NFL Legend Drew Brees Takes on a New Hobby After Retirement - April 7, 2021 Will Michael Jordan’s Exclusive Golf Course Enable Him To Take On The Pros? - March 30, 2021 Tim Peel is Discharged After Caught on Hot Mic - March 25, 2021 Related TopicsgamestopredditsharesstocksTradeWall Street Newsletter Subscription Can't Miss Posts! Women in Sports: NHL Network Host, Jackie Redmond by Nicholas Durst | posted on March 4, 2019 Passion For Sports Led Kelly Burke To Career As Broadcaster by Sunil Sunder Raj | posted on November 16, 2020 Women in Sports: Podcast Host, New York Riptide Sideline Reporter, Dani Wexelman by Luke Porco | posted on March 3, 2020 Women in Sports: Ariel Epstein, On-Air Host at SportsGrid (VIDEO) by Anthony Paradiso | posted on March 12, 2021 CBI to Utilize Experimental Men’s Basketball Rules Including Use of Quarters by Media Release | posted on March 9, 2017 More in BIZ You Know I’m Right, Episode 113: New York Post Columnist Phil Mushnick (Audio/Video) On the 113th episode of You Know I’m Right, Nick Durst and Joe Calabrese are joined by... You Know I’m Right, Episode 112: New York Jets’ Insider Brian Costello (Audio/Video) On the 112th episode of You Know I’m Right, Nick Durst and Joe Calabrese are joined by... How the You Know I’m Right Podcast Reached 100 Episodes On March 29, 2021, the You Know I’m Right Podcast published it’s 100th episode... You Know I’m Right, Episode 111: New York Giants’ Insider John Schmeelk (Audio/Video) On the 111th episode of You Know I’m Right, Nick Durst and Joe Calabrese are joined by... How Does a Pandemic alter a College Athletics Program? Xbox Release New Gaming Console Making History For Microsoft