Image: Shutterstock/ThomasAFink Image: Shutterstock/ThomasAFink GAMESTOP STOCK VALUE almost quadrupled last night. This comes after the announcement on Tuesday that their chief financial officer, Jim Bell, would resign on 26 March.
The popular internet forum Reddit, which sparked the initial value surge last month, temporarily shut down as people all over the globe went to check what was happening. Joseph Kopecky, Assistant Professor of Economics at Trinity College Dublin, says “the danger is that gamifying these things is a dangerous way for people to play with their savings”.Redditors to keep that high” and that it was “herding behaviour. They were allGameStop was part of a short squeeze last month that saw value increase by over 2000% in a few weeks. Value went from $18 a share on 8 January to a peak of $396 on the 28th of the same month.
This would be done by inflating the price through investing and taking the profits from those shorting. During the original GameStop hype there were 800’000 posts a day on the page.
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