A big group of retail traders (the retail investors like you and me) in social media platform Reddit WallStreetBets took on Wall Street Giants in the Gamestop saga.
Their mission has two main goals: Drive up stock prices to score profits for themselves, and at the same time, force the establishment investors to abandon bearish bets against struggling companies such as GameStop (GME), AMC (AMC), Macy’s (M) and several others.
Gamestop’s stock price was $18.80 as of 31st Dec 2020 and by 29th Jan 2021, it closed at $325 – a whopping 18 times!
Subsequently the total number of users in Reddit grew from 2 million users to 7.2 million users within days.
Now, it seems like they are targeting to push the price of Cryptocurrency (Ripple XRP) on 1st Feb.
This is their thread:
Already, XRP’s price has gone up by more than 50% since this news.
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