GameStop stock caught up in Reddit group's effort to hit hedge funds
The first thing you spot on the home page of subreddit r/WallStreetBets is a banner featuring a cartoon character in a suit riding on a yacht, with a street sign reading "Wall St" sitting on top. While the Reddit community might not look serious, its collaborative investing strategy has captured the attention of Wall Street. The subreddit has played a key role in the shares of struggling video retailer GameStop surging by more than 1,000% at times this week. The Reddit revolt focused on a strategy called short selling, where hedge funds make money by betting that share prices will fall.
Source: azcentral.com