What’s Going On With “GameStocks?”

Like many other businesses, GameStop was hit hard by the pandemic and recently filed for bankruptcy. As one would expect from this, GameStop’s stock price plummeted to all time lows. However, what followed is crazy to say the least. 

Individuals began buying GameStop stocks, as they believed that the stock wasn’t completely dead. This ultimately became a self fulfilling prophecy, as the law of supply and demand caused a massive jump in the stock’s price. GameStop’s stock price went from barely over $10 to nearly $350. The craziest thing about this is that professional stock market brokers were not the ones to cause this. A group of Redditors were the ones that created the jump, and because of it, a select few have become millionaires overnight. Truly an insane event in stock market history.