Posted on Jan 28, 2021
GameStop stocks soar by 30% despite Robinhood halting purchases amid Reddit trading frenzy -...
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Video game retailer GameStop’s stock price has increased dramatically due to the actions of users on the WallStreetBets subreddit.
The Reddit users pushed the stock up from $20 on 11 January to a staggering high of $146.97.
Other stocks with a similar profile to GameStop - firms that have struggled in the pandemic - have also soared in value.
The general reason for this is because the stock market is subject to wild speculation that can deem companies like Tesla, for example, more valuable than the nine largest automakers combined.
The Reddit users pushed the stock up from $20 on 11 January to a staggering high of $146.97.
Other stocks with a similar profile to GameStop - firms that have struggled in the pandemic - have also soared in value.
The general reason for this is because the stock market is subject to wild speculation that can deem companies like Tesla, for example, more valuable than the nine largest automakers combined.
GameStop stocks soar by 30% despite Robinhood halting purchases amid Reddit trading frenzy -...
Posted from independent.co.uk
Games
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Posted 4 y ago
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