Connect with us

Business

Reddit sent AMC and GameStop stock to the moon. Why, and what happens now – CNET

Wall Street bet against GameStop, and online investors saw an opportunity. Now they’re all playing a game of chicken with billions of dollars on the line.

Published

on

post featured image
ADVERTISEMENT

GameStop and AMC stock has spiked in recent days. Here’s what’s going on.
Sarah Tew/CNET
Over the past few months, a bunch of Reddit users have worked to push up the value of shares for video game retailer GameStop, despite Wall Street investors betting the company will fail. So far, they’ve won, pushing the stock up more than 10,000% (you read that right.) Then they started spreading their strategy to struggling movie chain AMC, too. And it’s worked. In their wake, these online market players have…

Click here to view the original article.

Continue Reading
Advertisement

You might also like ...

Article feature image
Amazon tweaks app icon after comparisons made to Hitler – Fox News
Article feature image
Dr. Oz springs into physician mode to help save man who collapsed at airport – NBC News
Article feature image
Biden vows enough vaccine for all US adults by end of May – The Associated Press