GameStop, once a popular game store, found itself on the brink of bankruptcy as large investors took advantage of the situation by creating significant short positions on its stocks. However, a group of small-time investors on Reddit, known as wallstreetbets, decided to take matters into their own hands and disrupt the game being played by the big players.
One of the key figures that emerged during this saga was Roaring Kitty, who used his YouTube broadcasts to rally the community and drive up the stock price until it eventually crashed towards the end of 2021. Just when things seemed dire, Elon Musk stepped in with a tweet that broke through the tough resistance, adding even more chaos to the mix.
In a surprising turn of events, the Robinhood exchange made a controversial decision to disable the buy button for GameStop (GME) stocks, allowing only selling to take place. Stay updated on the latest technology news by accessing NEWSLINKER.
