x
Breaking News
More () »

Gaming retailer sees stock price soar

It all revolves around video game retailer GameStop and an online group on Reddit.

GRAND RAPIDS, Mich. — Adam Antor never thought the love for gaming could bring this.

"I have a couple friends who picked up shares....a friend of mine put in about a thousand dollars this morning and that was up to about $40,000 during the day," says Antor.

It all revolves around video game retailer GameStop and an online group on reddit who took exception to the fact that some major investors were counting on the retailer doing poorly.

"What's going on here is the running of the bulls....so what's happening with GameStop stock doesn't have much to do with the company per se," says David Hodge a financial advisor.

Investments from the reddit group Wall street Bets and then a reaction from hedge funds have caused the stock price to go from a couple dollars per share to a couple hundred in just weeks.

"This is extremely unusual, it is not typical or normal or anything you would expect," says Hodge.

We asked Hodge if he would recommend still buying the stock?

"Just understand this is not anything I would recommend ever, this is not how we do business," says Hodge.

Make it easy to keep up to date with more stories like this. Download the 13 ON YOUR SIDE app now.

Have a news tip? Email news@13onyourside.com, visit our Facebook page or Twitter. Subscribe to our YouTube channel.

Before You Leave, Check This Out