UPDATE GameStop's stock closes today at $347.23 per share; up from under $4 last year

How did this happen? Was it a glitch in the stock prices?

 

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Basically,on r/wallstreetbets, people mess with the stock market for lols

 

Hilarious. Just goes to show how meaningless the stock market is

 

I'm not a stock expert, but isn't this kind of illegal?

 

What’s illegal about it? People are just buying a stock

 

Not a glitch



TL;DR
Blame the redditors, specifically /r/wsb.

Wouldn't recommend investing in this stock unless you know what you are doing and are only putting in money that you are okay losing.

 

I mean at least for once, the theoretical "little guys" get to take money from rich hedge fund managers/corporations. They'll have to buy out the other stock owners at a much higher price in order to liquidate Gamestop. This may or may not delay Gamestop from going under. I think that's the jist of it.

Okay never mind, it's just a hilarious combination of short-sellers and also legit investors from /r/wsb buying in, creating massive demand and therefore a massive price spike. A bunch of the Redditors sold at $156, many after having bought in at $20 or less (Gamestop stock was as low as under a dollar at one point). But as of this posting it's already back to $147.98, and they're still trying to drive it higher.

 

WHATSAPP

 

Great video if you haven’t seen it already

 

Now imaging you bought 1000 of GME stocks when they were still 2-3$

 

G

GG, the world has finished 2020 tutorial, now with new British variant discovered, we are starting 2021 campaign! Anything could happen!

P. S. Which platform /app do you guys use for trading? Ask for a friend.

 

If I understood this stuff more, I'd have made a lot of money by seeing it happen. I watch Reddit TOP and it's been a thing for a bit.

As a disabled person with a disabled girlfriend, struggling with money and feeling like life's a dead end, these posts about it are.... depressing to say the least. Money will always be tight, and seeing the gains of people here, it's like, if I could only have a fraction of that chunk, I could fix all my problems and be able to have the modest life I want with my mate.

That, or this type of stuff is going to break the entire concept of the stock market. One of those.

 

short the shit out of this stock, that is how you will make money. a year from now this stock will be worth 25 cents a share.

 

If it makes you feel any better... early success in investing is a curse. You taste easy money and then think that you're some kind of wunderkind. This leads you to make stupid decisions, thinking that you can duplicate your earlier success.

 

This is the best short squeeze I have ever seen! Then again, someone is going to make a fortune selling it short now.

 

This is terrible, we want GameStop to tank. They treat their employees so bad, and nothing has changed since Reggie joined them. It's a sinking ship that just had their hull bailed out, but it's still sinking.