For years now, gamers have watched GameStop (GME) warily, waiting for what seemed like an inevitable burnout. Even with the last generation of consoles, onlookers assumed the world of gaming would become fully digital before long, but this most recent generation of consoles still offers disc drives. To the surprise of many, GME’s stock has actually been rising steadily.
Controversy throughout the initial phases of lockdown initially saw GameStop‘s stock plummeting, but things really turned around for the retailer in October of 2020. Since then, stock prices have been either steadily rising, increasing at a rapid pace, and sometimes even experiencing sudden and unexpected spikes.
In October of 2020, GameStop signed a deal with Microsoft seeking to benefit mutually from the partnership. GameStop would use Microsoft technology in its stores, and in return the company would also offer Xbox All Access and other Xbox bundles. Since then, GameStop’s stock has been looking good, and a recent spike caused it to get even better.
Recently, Reddit day traders have been trolling the market, intentionally manipulating the price of GameStop’s stock. As a result, trading was halted, but traders with GME stock still stand to gain a lot from this. In particular, one Redditor has made bank off their GME stock, reporting a profit of $11 million dollars. In the comments of this Reddit post, a user explains that the investor started off with aroudn $53,000 in GME, but has managed to grow it to this insane new height over the course of the last 17 months.
Even without the stock market manipulation, GameStop’s stock continues to grow at a solid pace. Over the next few months, this user could stand to earn even more money for their efforts. Many others in the subreddit lament not jumping on board GME when they had the chance, while others take the chance to just congratulate the investor for his smart decision. That amount of money is truly life changing for many, so it’s shocking to read about, especially since the investor themselves doesn’t show much enthusiasm in the main post.
Hopeful investors shouldn’t count themselves out just yet, as GameStop’s stock is still on the rise. There will be plenty of other opportunities like this in the future for those with a keen eye and sharp instincts. For those others that simply look on from the sidelines, it’s an impressive achievement that comes with rewards that are difficult to fathom for most people.
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