Skip to content
Subscriber Only
Wealth
Finance

How WallStreetBets Pushed GameStop Shares to the Moon

  • One trader turned $53,566 into more than $11 million
  • The mania was years in the making and started as a value play
Video player cover image
GameStop Soars as Day Traders Take On Short Sellers

Short sellers have been called a lot of things. Bloodsuckers. Parasites. Other words not fit to print. Now in the vortex engulfing GameStop Corp., they have a new name: the establishment.

It’s a role cast for them with relish by their chat-room usurpers, the tens of thousands of average Joe day-traders whose fervor for a left-for-dead retailer has become a self-fulfilling prophecy in its 245% rally this year. GameStop has become a money geyser for the options-obsessed crowd that gathers in Reddit’s WallStreetBets forum. For those wagering on a decline, it’s been a catastrophe.