Gamestop Stock Boom Explained

Ben Winder, Newspaper Writer

People who use Reddit, a social news platform, have been buying the rock-bottom prices of GameStop, a company that sells video games and gaming consoles. The user who started the post, Roaring Kitty, aka Keith Gill, bought GameStop at such low stock prices, so when the stock skyrocketed, Gill made over 20 million dollars. 

“I think the Reddit users need to understand that other people are just trying to buy the stock for themselves, not as a joke,” said Gavin Blankenship, 7.

Many people think that the GameStop stock frenzy was a cash grab, while others believe it was just a joke, but still, others think it was just a good business venture. 

“I think it’s actually bad because it’s killing small businesses, and their stock numbers are dropping,” said Jarnail Pannu, 7.

Many Reddit users are commenting about how this has affected their lives. It has mostly helped them financially, making hundreds, even thousands of dollars. They express their gratitude openly on social media, the news, and lots of other platforms.

“Your example has literally changed the lives of thousands of ordinary normal people,” posted a Reddit user about the topic of the GameStop frenzy.

Circumstances like these are very controversial because while they can benefit many people, like investors, it can also cause issues with factors of our economy and world. The ethics involved in this comes into question, but in the end, America is a capitalist country, and everyone has the right to make their own decisions in the stock market.