The Unstoppable Force of r/WallStreetBets and the GameSto...

In an unprecedented turn of events, the subreddit r/WallStreetBets has managed to drive the stock prices of GameStop from approximately $20 to over $300. This online community, which likens itself to '4chan with a Bloomberg Terminal', has also targeted other unlikely stocks such as AMC, Blackberry, and Tootsie Roll. The group's actions have not been without controversy, leading to a ban from Discord due to hate speech. Recent developments include GameStop's announcement to sell its business in Canada and France, and a resurgence of activity from Keith Gill, the Redditor who sparked the initial frenzy.

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The Power of Internet Communities

The influence of r/WallStreetBets on the stock market is a testament to the power of internet communities. The subreddit was able to manipulate the stocks of a massive company like GameStop, highlighting the potential of social media platforms to disrupt traditional financial systems.

GameStop's International Business Decisions

GameStop recently announced its decision to sell its business in Canada and France. This continues a trend that began in 2023 with GameStop closing operations throughout Europe. The company's CEO, Ryan Cohen, suggested that the decision was influenced by 'Wokeness and DEI', rather than the stock market saga.

Return of Keith Gill

Keith Gill, the Redditor who sparked the initial stock frenzy in 2021, has returned. His recent posts have once again caused a spike in GameStop's stock prices, leading to internal discussions within SEC about potential manipulation.