[imagesource: Yuichiro Chino]

When investments sound too good to be true, they usually are.

Those who get in early might make a quick buck. The same is not true for those that follow, and the story of GameStop’s spike in price and subsequent drop is a good example of that.

In January 2021, a relatively small company called GameStop enjoyed a huge upturn in share price. The breathless news coverage that followed saw the company become the first so-called “meme stock”, with the price manipulated by an army of investors who rallied on Reddit’s r/wallstreetbets.

That saga is the focus of Netflix’s upcoming limited docuseries, Eat the Rich: The GameStop Saga, set for release on September 28.

Collider with more:

…WallStreetBets — a subreddit created for those beginning to learn the ins and outs of trading as well as many who consider themselves to be seasoned veterans… began to push the idea that a massive influx in investing in GameStop would help each of them earn a boatload of cash…

Poking a hole in the underdogs’ plan, things took a turn for the worse for those who thought they’d have a big win with their investments. What happened next is one of the most talked about scandals in stock market history.