GME Stock: 11 Things to Know About the Wild GameStop Drama on Reddit WallStreetBets (WSB)

GameStop (NYSE:GME) stock is on a wild ride Monday following some recent drama on the WallStreetBets (WSB) Reddit.

GameStop (GME) Store at a street corner with people walking past it

Source: rblfmr/Shutterstock.com

Here’s everything investors need to know about the WSB and GME stock drama.

  • Starting off, WSB is a subreddit focused on boosting up shares of stocks before selling them off for profits.
  • They make use of the Robinhood app due to its ease of access to the stock market and trading.
  • The most recent target of the internet forum was GameStop, which has been on shaky ground lately.
  • While investors from the subreddit did take out shares of the stock to boost it higher, conflict arose shortly after.
  • Andrew Left, the founder of Citron Research, announced plans to live stream five reasons GME stock would fall to $20 in a Tweet.
  • That allegedly caught the interest of the subreddit, which didn’t want his bearish stance ruining the rise in the stock.
  • According to Left, that resulted in attempts to hack his Twitter account and him being doxxed by users of the WSB subreddit.
  • Left ended up having Twitter (NYSE:TWTR) lock his main account to avoid the hack and Tweeted from a backup account instead.
  • A moderator of the WB subreddit confirmed there was talk of a dox attempt on Left but couldn’t confirm it was from a member of the forum.
  • They also said the subreddit doesn’t condone that kind of behavior.
  • Either way, the WSB subreddit is filled with memes this morning as investors celebrate the soaring price of GME stock.

GME stock was up 59.9% in pre-market trading this morning and is up 276.9% since the start of the year.

On the date of publication, William White did not have (either directly or indirectly) any positions in the securities mentioned in this article.

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