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CommunityNews

Gamestop: 'Failing' firm soars in value as amateurs buy stock

Shares in a US games company have soared more than 300% in the past week - the result of a fight between private and professional investors.

Video games bricks-and-mortar retailer Gamestop is arguably something of a relic in a world moving online.

But its share price soared another 120% in Wednesday trading in New York.

Analysts blame tech-savvy young day traders, who they say are taking on hedge funds in a conflict with generational overtones.

And the phenomenon could be spreading to Europe, with several stocks subject to unusual fluctuations in Wednesday trading.

It’s a battle between Wall Street pros and upstart investors using social media platforms such as Reddit, analysts say. And at the moment, the upstarts have the upper hand.

This thread was posted by one of our members via one of our news source trackers.

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