# Reddit, GameStop And Wall Street: Here’s Everything You Need To Know

- Link: https://www.widthness.com/reddit-gamestop-and-wall-street-heres-everything-you-need-to-know/
- Published: 2021-01-31T09:45:43-06:00
- Author: Curated by John Wysocki

Photo by Patrick Weissenberger on Unsplash. Article by Sara Boboltz. HuffPost – January 29, 2021. Free trading apps like Robinhood have seen an influx of new users — and the video game retailer’s stock surge is tied into that. In the most basic terms, the battle over GameStop stock is a David-and-Goliath story, pitting old against new, “smart money” against “dumb money,” the Wall Street establishment against everyone else. Who wouldn’t want to root for the underdog? Of course, it’s all a bit more complicated than that. So what is happening with GameStop? The video game retailer’s stock price has seen a nearly 2,000% increase since the start of January. A year ago, it was trading under $4. On Thursday, it reached a high of $470 ― which is weird, because the increase has not been driven by astonishingly good performance on the company’s part. Rather, a bunch of Reddit users worked together to catapult the price, at the extraordinary expense of hedge fund managers. […] Click here to view original web page at www.huffpost.com