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Reddit V. Wall Street: Why GameStop Stock Is Soaring

GameStock has become part of a struggle between major hedge funds and amateur day traders. Major investors have been short selling GameStock, betting that the stocks will fall. Instead, the stock is going up due to a Reddit community called WallStreetBets. This group bought a bunch of the stock and drove the share price up, costing short sellers $23.6 billion. This demonstrates to Wall Street that amateur investors can have some power and could affect the future of the market.

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