The last few weeks have been a hectic (or dare-I-say volatile) time for traders. During the month of January, GameStop’s stock has astronomically soared from $18, reaching a peak as high as $483 per share. The “group” responsible for this meteoric rise are the members of the Reddit forum page named “r/wallstreetbets,” which is a forum dedicated to trading. This forum, also called a “subreddit,” is well known for its use of horribly vulgar language and their users’ willingness to engage in far riskier bets than the average citizen that trades would invest in.
This post was originally published on the Cardozo Arts & Entertainment Law Journal website on February 17, 2021. The original post can be accessed via the Archived Link button above.
Maslavi, Jacob, "Reddit v. Robinhood: Class Action Lawsuit Filed Amidst Market Manipulation Allegations" (2021). AELJ Blog. 265.