Reddit Gme Stock Explained

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Reddit Gme Stock Explained. An online forum called reddit is sending the old guard of wall street into a tailspin: X sells those 100 million shares for $3 a share, betting (and that’s the operative word) that the price per share will go down to $1 a share.

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Traders on a message board site called reddit essentially banded together to buy certain stocks that were heavily shorted, like gamestop. Read our explainer of short selling as it relates to gamestop’s. The stock went even higher — per cnbc, it got up to $159.18 with more halts due to volatility.

X sells those 100 million shares for $3 a share, betting (and that’s the operative word) that the price per share will go down to $1 a share.

Either way, the wsb subreddit is filled with memes this morning as investors celebrate the soaring price of gme stock. “gme squeeze and the demise of melvin capital,” wrote the user, stonksflyingup, referring to stock ticker of gamestop corp. The stock went even higher — per cnbc, it got up to $159.18 with more halts due to volatility. How gme stock value was driven up in ‘short squeeze’ by reddit traders a reddit community has blown up the stock.