Gamestop? More like GameStock


Caleb Pearce-Huffman, Reporter

Gamestop has always been known for its ripoff deals in store. For example, they offer cash or store credit when you trade in gaming accessories, but they lowball you. Although gamers know this, we always return to our beloved store. For me, it’s like a vacation home. I like to go in Gamestop and browse, ask questions, nerd out to my dad about the new games being boasted on their tv screens, and I especially love to leave with a new game. As sad as it is, they’ve been going bankrupt, but a group of Redditors in a message board, called WallStreetBets, took to the power of social media.

Gamestop has been going bankrupt, sheerly from the articles my dad read to me from the kitchen, and the Redditors made a combined effort to purchase stock in an attempt to prevent such a blow to the gaming community. In the recent days, the stock’s prices have been increasing at catastrophic rates, which ripped off billionaires that hoped gamestock would file bankruptcy, so they obviously blew up Twitter in frustration and awe. When investors in Gamestop made money off of its success, short sellers, which had invested in money into Gamestop’s predicted bankruptcy, were losing a lot of money.

In response to the stock rising, trading companies and apps such as Robinhood (what an ironic name, huh?) actually limited the purchase of Gamestop stocks, which isn’t fair. This dropped the growth in stock purchases and sparked more backlash. One twitter post explained how the money from selling Gamestop stocks payed for the seller’s dog’s very expensive knee surgery, people could feed their families, attend medical bills and had hopes of making even more. While chaos does put a smile on my face, the story about Gamestop stocks helping someone’s dog really did make me feel good.