Reddit referenced the recent GameStop stock market frenzy in a new 5-second Super Bowl spot that needed to be paused to read. “One thing we learned from our communities last week is that underdogs can accomplish just about anything when they come together around a common idea,” read the brief message to viewers.
“Who knows, you might be the reason finance textbooks need to add a chapter on ‘trends’.” a battle between short sellers and an informal group of amateur investors who have joined forces via the r / WallStreetBets subreddit. GameStop’s stock has skyrocketed more than 1700% as a result, leaving the short-term hedge fund exposed Melvin Capital and others in massive financial disputes to the tune of billions of dollars. Despite the fact that the situation is still ongoing, a film is already in preparation based on a book by New York Times bestselling author Ben Mezrich. The book hasn’t even been written yet, but promises to tell the story of a “motley group of amateur investors, gamers and internet trolls who brought Wall Street to its knees.”