These Reddit users have blown everyone’s expectations out of proportion. With 3.5 million traders following the subreddit, WSB users are known for purchasing extremely risky products, including leveraged ETFs, financial call and put options, as well as shorting equities. WallStreetBets (WSB), a community of Millennial and GenZ traders, have helped drive a to-the-moon surge of GameStock’s stock price while halting trading multiple times, crashing Reddit, and even forcing the subreddit to go private. So how did GameStop rise from the ashes? Well, a trading euphoria caused by…Īn army of traders from the Reddit r/WallStreetBets has been at the center of the GameStop saga. By 2016, GameStop had owned and operated approximately 1,500 mobile-phone stores under the Spring Mobile name, and in 2018, had sold the whole mobile-phone business. The company had bet on making money by buying smartphone stores.
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