I am reading but don’t understand what’s happening.
In: Economics
An investment company decided to sell a bunch of Gamestop stock, as they felt that the company wasn’t doing so hot anymore.
A bunch of Redditors tried to troll the company by buying that stock, to stop their plan of “Sell and it and rebuy it again at a cheaper rate” that a lot of companies do in this sort of situation. The investment company didn’t actually want to lose the GameStop stock, they just wanted to make a quick buck by selling it short term.
Enough redditors on WallStreetBets did this, that it turned out to be so successful that they convinced a bunch of other people that there must be some big reason why all of these internet guys are buying Gamestop stock, and so other folks tried buying it too, and the value of GameStop on the stock market has risen.
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