Stock Market Changing Every Hour With New Rules and New Stock Outlaws

Noah Gehris

During the last week of January, the stock market has seen multiple changes due to a group of people deciding to buy stocks in companies like AMC, Gamestop, and DOGEcoin. The faces of this group are actually members of a stock reddit server, a place where people can go and talk stocks and where to put their money.

 

A reddit server under the name of ‘Wall Street Bets’ has over 8.1 million followers, and over 464K paying customers. On January 25th, the group of reddit members gathered together and invested in the company Gamestop. Gamestop was the first company out of three to get a big boost by the reddit server. As Gamestop is currently around $330, Professional investor Liz Clayman talked about her thoughts, “I do think [GameStop] is going to go to $1,000 [per share] or at least $700, maybe even higher,”

 

This rise in unusual companies has led to bigger companies starting to have a downfall. Companies like Disney, Tesla, and Bitcoin have had tremendous decline. Important investors aren’t worried about the decrease as they believe this ‘revolution’ won’t last long in the stock market, and will believe it would be best to keep their stocks instead of selling.

 

We have seen heavy investors like Ryan Cohen put a lot of money into these upcoming investments like Gamestop. Cohen put $76 million into gamestop and ended up earning a 1,700% return from it. Roncancio said, “I like what I’m seeing from GameStop and I like what I’m seeing from Ryan.”

 

We should expect the next few weeks for this reddit army to be filled with ups and downs. Investing companies like Robinhood have tried to stop these reddit investors multiple times, but they are finding ways to keep investing and earn money.