The Gamestop episode and lessons to learn from it

We already knew the power social media could play in shaping political views. Last week we witnessed the power of social media in the stock market. Essentially to counter large investors, who were short selling Gamestop with billions of dollars, a discussion group on reddit called "wallstreetbets" decided to invest in Gamestop to drive it to a bullish trend. It worked. It worked even more when Elon Musk tweeted in favor of it. To put it into perspective, Gamestop's values increased from $2 billion to $24 billion. Even today, the high was 91.50 and low was 53.3. Exactly 30 days ago it was 19.10 and 17.15. However, Reddit discussions, Facebook groups and other informal social places for investing have a lot of noise i.e there is so much inaccurate data that it becomes really tough to decipher which ones are accurate. This is where the biggest strength of Utradea lies. A social platform to inhance investing without the noise.

back
default-avatar-7

pranavsethi129

Feb 5, 2021

253.26%

Change % Since Posting

50.77

Price When Posted

128.58

Change Since Posting

GME

Gamestop Corporation - Class A

179.35

0.75
0.42%
Current Price

The Gamestop episode and lessons to learn from it

bullish

We already knew the power social media could play in shaping political views. Last week we witnessed the power of social media in the stock market. Essentially to counter large investors, who were short selling Gamestop with billions of dollars, a discussion group on reddit called "wallstreetbets" decided to invest in Gamestop to drive it to a bullish trend. It worked. It worked even more when Elon Musk tweeted in favor of it. To put it into perspective, Gamestop's values increased from $2 billion to $24 billion. Even today, the high was 91.50 and low was 53.3. Exactly 30 days ago it was 19.10 and 17.15. However, Reddit discussions, Facebook groups and other informal social places for investing have a lot of noise i.e there is so much inaccurate data that it becomes really tough to decipher which ones are accurate. This is where the biggest strength of Utradea lies. A social platform to inhance investing without the noise.

Comments

Write your comment....

Sign in to comment

read-time
1 min

58.85

Target Price

10/ 10

Confidence

3+ Years

Timeframe
catalyst icon
Earnings Release
catalyst icon
News
catalyst icon
SEC Filing
catalyst icon
Sentiment
catalyst icon
Other Catalyst

Access the latest tools and discussion channels with an account

reddit-sentiment

Reddit Sentiment
Analysis

portfolio-balancer

Portfolio Balancer
with brokerages

sec-dashboard

SEC Dashboard
with LNP

GME Channel

Start new chat
aiodd-ad
next