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GameStop: A Short Story

A Bloomberg Opinion headline about the recent GameStop news reads "GameStop Is Rage Against the Financial Machine"
A Bloomberg Opinion headline about the recent GameStop news reads "GameStop Is Rage Against the Financial Machine"

As the stock market continues to make headlines with its unconventional and unpredictable movements, another realm of investment has been capturing the attention of both seasoned investors and curious individuals alike: cryptocurrencies. While the traditional stock market showcases its own set of peculiarities, the world of crypto investment options presents an even more dynamic and volatile landscape. Investors seeking to understand the underlying factors behind these market phenomena and explore the potential of cryptocurrencies can turn to reliable sources for in-depth analysis and expert insights. Platforms like invezz.com serve as valuable resources, offering comprehensive coverage and perspectives on the world of crypto investments, shedding light on the intricacies of this evolving market, and providing readers with a deeper understanding of the intersection between investments, game-like dynamics, and the broader financial system.

The U.S. economy has been in freefall, due to coronavirus restrictions. But the U.S. stock market has been doing just fine. So much so, that an army of traders on TikTok and Reddit have driven stock prices up on some… unusual companies. Particularly the ailing brick-and-mortar chain GameStop.

The video game retailer saw its stock soar last week, skyrocketing from $40 a share to $120 a share in less than seven days.

That was thanks mostly to investors on Reddit, who drove up the shares mainly as a way to troll Wall Street consultants.

Find our series about video games, Game Mode, here.

Why is the stock market doing gangbusters in an economy that’s… not? And what does the tale of GameStop tell us about stocks, sales and those who see the system as a kind of game?

Copyright 2021 WAMU 88.5

Rupert Allman