×
GreekEnglish

×
  • Politics
  • Diaspora
  • World
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Cooking
Wednesday
24
Dec 2025
weather symbol
Athens 14°C
  • Home
  • Politics
  • Economy
  • World
  • Diaspora
  • Lifestyle
  • Travel
  • Culture
  • Sports
  • Mediterranean Cooking
  • Weather
Contact follow Protothema:
Powered by Cloudevo
> Economy

Reddit vs. Wall Street: The GameStop Saga (infographic)

Online brokers used by retail investors blocked the trade of the affected stocks

Newsroom January 30 01:54

In what could have been a relatively quiet post-inauguration week, a breathtaking story of David vs. Goliath played out on the world stage, turning financial markets upside down and wreaking havoc on Wall Street.

But let’s start from the beginning. Earlier this month, activist investor Ryan Cohen, founder of Chewy.com, joined the board of video game retailer GameStop along with two former Chewy colleagues. Cohen, GameStop’s second-largest shareholder, had long been pushing for a transformation of the struggling brick-and-mortar retailer, which is why his addition to the board fueled hopes of better times to come. GameStop’s stock rallied, forcing short-sellers, who had bet against the retailer, to cover their positions and buy more GameStop shares.

A few days later, after things had calmed down a bit, users on the Reddit board r/wallstreetbets noted that GameStop stock was still heavily-shorted and decided to buy up shares of the company to further drive up the price and force the hand of short-sellers. Word spread quickly and GameStop’s share price exploded over the next few days, as individual investors drove up the price enough for mighty hedge funds to abandon their positions and lose billions of dollars. By Wednesday, January 27, the stock had gained more than 700 percent over the course of four trading days, while the savvy redditors started targeting other heavily-shorted stocks.

On Thursday, after calls for help from Wall Street had grown louder, several online brokers used by retail investors blocked the trade of the affected stocks, allowing users only to sell their shares, which subsequently tumbled. After a public outcry, several brokers, most prominently Robinhood, reversed their decision after market close on Thursday, announcing that they’ll allow limited trade of the targeted companies on Friday.

>Related articles

Wall Street: the Fed split pressured equities and pushed up bond yields

Wall Street’s new “gold”: Nvidia poised to surpass $5 trillion in value – How AI transformed the company

New 15-year record for the Athens Stock Exchange – reached 1,880 points

So the saga continues. And while it’s yet unclear how the story will play out in the long term, it is almost certain to serve as a cautionary tale for years to come as it exposed the holes in a financial system usually dominated by big Wall Street firms.

Infographic: Reddit vs. Wall Street: The GameStop Saga | Statista

You will find more infographics at Statista

Ask me anything

Explore related questions

#GameStop#shares#stocks#trading#Wall Street
> More Economy

Follow en.protothema.gr on Google News and be the first to know all the news

See all the latest News from Greece and the World, the moment they happen, at en.protothema.gr

> Latest Stories

1,200 minors live in institutions in Greece – The trauma of confinement

December 24, 2025

How to avoid the flu and respiratory infections

December 24, 2025

How chefs achieve the crispy turkey skin everyone loves

December 24, 2025

Unexpected interruption during Fidan press conference in Syria: Statements ended abruptly – Damascus apologizes

December 24, 2025

Christmas carols were sung to Prime Minister Mitsotakis by students

December 24, 2025

Ten monasteries in Greece: Sacred sanctuaries of faith and history with the gaze of nature

December 24, 2025

Giorgos Petzetakis: Debts in Athens, business and luxury life in the US despite international warrants

December 24, 2025

Greek flight attendant among the dead in Falcon 50 crash in Turkey, where Libyan general was killed

December 24, 2025
All News

> Politics

Christmas carols were sung to Prime Minister Mitsotakis by students

Students bring Christmas cheer to Prime Minister Mitsotakis and his family at Maximos Mansion

December 24, 2025

Greece, Cyprus and Israel decide on joint interdisciplinary exercises and co-training of Special Forces

December 23, 2025

Irritation in the Turkish media as well over the Trilateral: “The alliance of evil”

December 23, 2025

Mitsotakis on farmers: The government will not yield to blackmail and the paradox of silence (updated)

December 23, 2025

New dynamics in the Eastern Mediterranean after the Trilateral Summit: Why Netanyahu sent a clear message to Turkish revisionism

December 23, 2025
Homepage
PERSONAL DATA PROTECTION POLICY COOKIES POLICY TERM OF USE
Powered by Cloudevo
Copyright © 2025 Πρώτο Θέμα