Author:
Savedra, Andrew
Decade:2020Initials:
L.G.
Page:
3
Photo:
Yes
Publication:Sonoma State StarDate Published:Subject:
27 Jan 2021, GameStop's publicly traded stock skyrocketed to a price of $347.51 per chase, which was $328.51 more than he value of the stock only 10 days before.
GameStop's market cap reached $33.7 billion up from $1.2 billion at the end of December.
The massive surge was primarily due to users on the social media platform reddit intentionally driving up the stock price.
Reddit encouraged it's users that used the site Robinhood stock service to buy the stock in mass.
In January, the stock has increased to $206.20 but is unsure on what the stock will look like. Robinhood investors have currently won this round.
