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    GameStop: How Reddit Traders Occupied Wall Street's Turf

    GameStop has seen its stock soar, driven higher by a group of amateur day traders on Reddit, who are taking on Wall Street hedge funds. The frenzy has gotten the attention of regulators and lawmakers.
    by Avie Schneider Jan 28, 2021 5 minutes
    Video game retailer GameStop has seen its stock soar, driven higher by a group of amateur day traders on Reddit, who are taking on Wall Street hedge funds. The frenzy has gotten the attention of regulators and lawmakers.

    What the deal with GameStop?

    There's a good chance you have heard that question many times in the past few days.

    With more than 5,000 stores, GameStop is a video game chain where customers can buy, sell and trade their games, consoles and gaming accessories. It's a mall staple, but shopping centers have been struggling for years and the coronavirus pandemic has been devastating for retailers.

    But then a most unexpected and weird thing happened. GameStop's stock has soared to unbelievable heights lately. Topping $400 per share earlier Thursday, it was up more than 2,000% so far in this young year, including a 134% jump on Wednesday alone.

    But it continues to be a bumpy ride for investors. By late morning Thursday, GameStop shares had fallen 63% to $126 after some brokers imposed trading limits

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