BIZMassive Increase in GameStop Shares Putting Wall Street Tactics to Shame by Katie Malespina January 27, 2021 How GameStop Stocks Starting SoaringGameStop 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 GameStopBack 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: 30The following two tabs change content below.BioLatest PostsKatie MalespinaLatest posts by Katie Malespina (see all) The Olympics Have Become So Expensive and Here’s Why… - March 2, 2021 Supportive Fans and Golfers Help Tiger Woods Through His ‘Tough Time’ - March 1, 2021 Patrick Mahomes Welcomes First Child With Fiancee Brittany Matthews - February 23, 2021 New Study Reveals Pigs Can Learn to Play Video Games With Their Snouts - February 18, 2021 Related TopicsgamestopredditsharesstocksTradeWall Street Newsletter SubscriptionCan't Miss Posts! No Shame in Their Game – Female Mixed Martial Artists Use Onlyfans to Make Money by Brandon Berrios | posted on December 4, 2020 Neha Uberoi Khangoora: Pro Athlete to Successful Business Entrepreneur by Sunil Sunder Raj | posted on February 9, 2021 Women in Sports: NHL Network Host, Jackie Redmond by Nicholas Durst | posted on March 4, 2019 The Five Biggest Injuries of the 2020 NFL Season by Anthony Paradiso | posted on November 6, 2020 The Most Catastrophic Boat Trip Since the Titanic; the New York Giants by John Venezia | posted on October 4, 2020More in BIZ The Olympics Have Become So Expensive and Here’s Why…The Olympics is a worldwide event where athletes from all around the globe come... 4 U.S Women Olympians Launch New Company Called TOGETHXRTOGETHXR is new media and commerce company founded by U.S Olympians Alex Morgan, Sue... Vistaprint, Boston Celtics, NAACP Announced Formation of Power Forward Grant For Small Minority BusinessVistaprint, the Boston Celtics Shamrock Foundation & NAACP have announced the formation of the... The Future Is Fitness For AppleFitness+ was launched in December 2020 when the Covid-19 pandemic disrupted gyms and fitness... How Does a Pandemic alter a College Athletics Program? Xbox Release New Gaming Console Making History For Microsoft