So the GameStop stock has been on a downslope for quite some time now. But recently the stock has spiked out of nowhere. The stock spiked so high it rose up to 14,300%. This caused some big time investors to lose a lot of money.
The GameStop stock skyrocketed because a reddit group called r/WallStreetBets noticed that there are a lot more people betting against the GameStop stock rather than betting for it. They saw this opportunity and took it. r/WallStreetBets went straight in and set an alert to all of their users saying to put their money into GameStop. Elon Musk even saw this and tweeted about it which made things even bigger. This caused the stock to skyrocket 14,300% making actual WallStreet lose millions of dollars.
Because of all of the people betting against the stock it also was another factor in the upraising. If there is a high percentage of people betting it would go down it made it too high risk because of this.The stock gained a lot of traction raising from $2 a stock up to $340 a stock and what comes up must come down. The stock is still growing little by little.
As you can see this has caused a pretty big upset among the actual WallStreet. And this is a graph on how the stock has been the past few days.
Do you think this stock has affected any other stocks?
Do you think the stock is going to keep going up?
Replies
Good topic choice Keegan! I do think your summary is a bit brief and you also could have replied a bit more as well.
I find it funny that members of a subreddit were able to completely upset a stock. This enormous rise in price really messed up some big-time investors' portfolios. I do not think that the rise in price of Game Stop stock had an effect on any other stocks.
I am not an expert on stocks but I do think it is going to keep going up for a little while but I think it will come down sooner than later like it usually does. I think it could be bringing other stocks from other companys down but those ones shouldn't be getting affected very much.
Don't know much about stocks but I do know that one stock being higher can affect other stocks so that stock could lower others. And I personally think that the stock market will go down but as of right now it is up and has been up for awhile but eventually it will plummet.
I think that it has because if something goes up something more than likely is going down.I think it has also probably affected a lot of gaming stocks that are out there. I doubt it goes up much more because it has been sky rocketing and most things don't keep going up. They tend to level out or slow down.
This whole situation might change a lot in the Stock industry. If people do this with other companies that are crashing down, companies could lose a lot of money. However, the situation is hilarious. I can totally see why Wallstreet would try and put an end to the situation because I would rather go to jail for 18 months than lose billions of dollars.
I think this stock has affected other stocks, but I don't think this stock wil live for much longer then it has. This stock definitely affected stock related around because this would be the first thing you look at when going to buy stocks. I think this was very unexpected at first, but is going to decline and not live on.
I do believe the increase in this stock has affected other stocks, especially for the other gaming stocks in particular. I don't believe the stock is going to continue growing as exponentially as it has in the past month or so. I think that the stock will level out and then slowly start a decline.
In my opinion this stock has in some way or another affected other stocks. I don't think that it's going to keep going up for a long time, or at least not that much, and that's because of how the stock market keep on changing all the time, but I have to say that I know very little about it so I could be wrong.
i think that gamestop skyrocketing like this has for sure effected other stocks. i do not think that the stock is ganna keep going up becuase it was up super high then everyone sold and it dropped right back down low and it was just a buy and sell so no one is ganna buy it anymore
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