GameStop, a former game store, faced the threat of bankruptcy as major investors took massive short positions on its stocks. In a surprising turn of events, a group of individual investors on Reddit decided to take action against these powerful financial forces. Among them was the influential figure known as Roaring Kitty, who used his YouTube broadcasts to rally the community and push the stock price to new heights. However, by the end of 2021, the price of GameStop stocks began to plummet.
In a twist of fate, tech mogul Elon Musk intervened by tweeting his support for the struggling company, providing a brief reprieve. Despite this, the popular trading platform Robinhood controversially restricted trading of GameStop stocks, allowing only selling and disabling the buy button. Stay updated on the latest tech news by visiting NEWSLINKER.
