[imagesource: Yuichiro Chino]
When investments sound too good to be true, they usually are.
Those who get in early might make a quick buck. The same is not true for those that follow, and the story of GameStop’s spike in price and subsequent drop is a good example of that.
In January 2021, a relatively small company called GameStop enjoyed a huge upturn in share price. The breathless news coverage that followed saw the company become the first so-called “meme stock”, with the price manipulated by an army of investors who rallied on Reddit’s r/wallstreetbets.
That saga is the focus of Netflix’s upcoming limited docuseries, Eat the Rich: The GameStop Saga, set for release on September 28.
Collider with more:
…WallStreetBets — a subreddit created for those beginning to learn the ins and outs of trading as well as many who consider themselves to be seasoned veterans… began to push the idea that a massive influx in investing in GameStop would help each of them earn a boatload of cash…
Poking a hole in the underdogs’ plan, things took a turn for the worse for those who thought they’d have a big win with their investments. What happened next is one of the most talked about scandals in stock market history.
The subreddit is still going strong and from time to time it spikes various share prices
These have included movie theatre chain AMC, retailer Bed Bath & Beyond, and BlackBerry. If you can breathe life into Blackberry, albeit temporarily, you clearly wield power.
Let’s see that trailer for the three-part docuseries:
[source:collider]
