Thursday 28 January 2021

Explaining the GameStop phenomenon for small investors

GameStop is an American video game, consumer electronics, and gaming merchandise retailer. The company is headquartered in Grapevine, Texas, United States, a suburb of Dallas, and operates 5,509 retail stores throughout the United States, Canada, Australia, New Zealand, and Europe as of February 1, 2020.

Why a Reddit group pumped GameStop shares up 1,000% on a lark?

It seems that online investor forums are waging war against short sellers trying to profit from falling prices.

Shares in a USA retail chain that hasn't made any money in years have risen by 1,000 per cent in less than two weeks, wiping out billions of dollars from two Wall Street investment funds in the process.

However, certain companies do profit from the stock price going up.

GameStop is a retail chain with about 5,000 locations across North America.

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