A group of new investors sharing tips on Reddit community called Wall Street Bets bought shares in GameStop, the video game retailer.
The investors, mostly aged between 20 and 40, hear that hedge fund Melvin Capital had shorted the stock, predicting then that it would go down.
Indeed, the hedge fund would say that the future of video game is online and not in store anymore.
The investors believed that they could make the stock go up and as the request for GameStop stocks rose, so did the price.
It created then a short squeeze, forcing those who bet against the shares to buy in to prevent losses, making the price rises even more.
Over the past six months, GameStop’s stock went from $5 to almost $500.
It’s a message to Wall Street and highlights how short sellers can make the difference.
It also shows how the stock market has evolved and the way it can impact a company.