Here we go again.
GameStop madness — or GameStonk madness, if you prefer — struck again on Wednesday afternoon. GameStop’s stock price soared at the end of the trading day, rising more than 100 percent from about $44 per share to around $91 per share. Things got so nuts as the 4 p.m. ET closing bell approached that trading of the stock was halted twice for volatility.
Things only got more strange from there. People rushed to Reddit as the price shot up — you know, since this whole GameStop stock thing originated on the platform — and soon enough Reddit had crashed. It’s unclear if a rush of traffic was the only reason for Reddit going down, but the site was down for nearly an hour before finally stabilizing at 4:52 p.m. ET. Read more…
More about Reddit, Gamestop, Culture, and Web Culture
GameStop stock soared and trading was halted. Then Reddit crashed.