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The company aims to expand internationally and bolster its advertising capabilities.
The group of previously unloved stocks has fluctuated in recent sessions as bullish momentum locks horns with profit-taking.
While the media painted a rosy David vs. Goliath story, the actual implications of the GameStop saga are far darker and still result in hedge fund profits.
"Maybe you'll be the reason finance textbooks have to add a chapter on tendies."
The move comes after traders organizing on Reddit forums furiously bid up the shares in an unprecedented short squeeze.
The controversial subreddit is struggling under an influx of new users.
Thanks to some financially savvy Redditors, and a push from Elon Musk, a number of flailing companies, including GameStop, are having a great week on the stock market. Here's what you need to know.
Analysts said the saga was knocking market confidence on Wall Street.
How Reddit Day Traders Are Using the Platform to Upend the Stock Market and Make Money in the Process
Retail investors on Reddit are boosting GameStop shares in defiance of hedge funds and investing norms, and one expert sees the unconventional rally as a sign "the institutions are losing some control."