Reddit's r/WallStreetBets appeared to be down briefly on Wednesday morning after the forum sparked a spectacular GameStop rally
- r/WallStreetBets had encouraged investors to bid on
- GameStop skyrocketed 145% over the weekend as r/WallStreetBets members cheered the rally.
The Reddit forum that appeared to drive GameStop stock's remarkable surge appeared to crash for some users.
The page r/WallStreetBets, which had encouraged investors to bid on GameStop shares and led to billions of dollars of losses for the stock's short-sellers, could not load for some users the morning of January 27. DownDetector had more than 3,000 reports of problems accessing the site between 9:30 a.m. and 10 a.m. EST.GameStop stock price was at $300 around when r/WallStreetBets appeared to crash. The stock skyrocketed 145% over the weekend as r/WallStreetBets members cheered the rally.
Insider's Ben Winck reported the page had 2.2 million subscribers shortly before crashing. Membership increased by 133% to 1.8 million last year.Redditor enthusiasm has also led to a surge in BlackBerry and Bed, Bath, and Beyond stock this week.
This is a developing story.
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