They were high-street focused and lockdowns -rattled the share price. If you go back to around 2006 or 2007 – when the company was at its most profitable – it was priced around $60 a share. At the time, it was trading at $4 a share.ĭavid Madden, analyst at CMC Markets: “The long and the short of it is this: GameStop was in what could easily have been terminal decline for years and years and years.
Gill used to work for the Massachusetts Mutual Life Insurance Company and began posting videos in mid-2020, explaining why he thought people should buy GameStop stock. One of those retail investors, a 34-year-old man by the name of Keith Gill, went by “DeepFuckingValue” on Reddit and “Roaring Kitty” on YouTube. Gil Shapira, chief investment officer at Etoro, a retail trading app, which many of those -trading from r/WallStreetBets used: “We’ve seen the volumes of retail increasing from ten per cent of the total volumes ten years ago to one out of four now.” In the industry, these people are known as “retail investors”. The subreddit began small: in 2013 it had fewer than 2,000 subscribers, but grew steadily, with those engaging with the forum putting the advice they gleaned in action on the stock market through “retail trading” – the term used when individuals, sometimes with little experience, dabble in the stock market, often using websites and smartphone apps with names such as Robinhood, Etoro, Freetrade and Trading 212. The forums that existed were too serious, so I set up a place that was more lighthearted, that was OK with losing money – something that, to this day, is still very difficult for some people to understand.” I wanted to take some of my money and put it to work in a way that was a bit more aggressive. I worked in a job that gave me decent -disposable income and I had the typical 401(K) for retirement. Jaime Rogozinski, founder of the subreddit r/WallStreetBets: “I started WallStreetBets back in 2012 in an effort to fill a void for high-risk, high-return trades.
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