The stock market has seen some exceptionally unique trends in the past few months. It gradually became unpredictable as to which companies will note a surge in share prices. This generation caused one such major change with the game company GameStop’s share prices. This initially began as a joke but rather took a turn when its share values increased tremendously after receiving a huge hype by Reddit users. Nonetheless, the stocks were so popular that several celebrities including Elon Musk talked about this unique surge. GameStop shares led to make several people rich in a few days. However, big trading companies stopped or constrained access which allowed traders to buy GameStop shares. Recently, the shares prices increased again by more than 100%.
GameStop shares surge tremendously yet again
Near the closing hours of the stock market, the shares of GameStop boosted up to 104% in the last few minutes. The shares were closed at $91 that is quite high. After the hype, the shares declined by a big margin and tumbled a lot. Again, after another publicity of the company caused a huge surge in their share prices. This repeated rise was done by Redditors and thanks to them the company received great profit.
The company’s financial officer announces stepping down
A few days ago, one of the prime financial officers of the company announced stepping down. Even after the company got a surge last month as well, yet the CFO resigned. Previously, the company was suffering a lot because of the pandemic and was almost on the verge of collapsing but somehow managed to survive amidst a boost by Redditors.
The potential of GameStop shares in the future
It’s very much possible that this game company will see positive results in the future. Since it keeps getting boosted by online users and has the potential to make one rich in a few days. Netizens on Reddit have grasped how much their influence affects the share market. Due to this, they may have an upper hand when it comes to inflating the shares however, it cannot be done multiple times.