The Reddit GameStop stock

GameStop+stock+manipulation+was+due+to+Reddit

https://www.bbc.com/news/business-56190078

GameStop stock manipulation was due to Reddit

James Wagner, Editor

On Wednesday, January 27, the subreddit (hashtag, but on Reddit) known as r/wallstreetbets managed to pull something known as a short squeeze, which is when a group of people makes the stock of a dying company go crazy.

Gamestop is dying because there is no use for it when people can just buy it on the device’s app store and have it saved on their device. On Monday, January 25 the stock was valued at $76.79, and in two days it went up to $347.51, which is equivalent to multiplying it by about 4.5. This short squeeze didn’t last long. It went from $347 to $193 to $325 in three days and now it’s back down to $46.

The company GameStop is dying quickly, but with this short squeeze, it should be able to last a little bit longer.