Everything That Actually Matters About The GameStop Stock Insanity

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The Reddit fuelled GameStop insanity was far from Game Over on Friday, as the retailers stock price resumed its market rollercoaster ride, the mastermind behind the Wall Street attack spot publicly and one of the tzars of short selling admitted defeat at the hands of the mob. 

The struggling brick and mortar video game retailer goat a boost Friday after Robinhood lifted its trading freeze and shares rose by as much as 114 percent to $413.98 at the opening ball. That price was down to $300 by 1:34pm. 

Now, the man behind the madness is revealed after rallying an army of average investors in the Reddit forum WallStreetBets under the name "DeepFakingValue". “I didn’t expect this,” Keith Gill, 34, a dad of two from Boston who recently worked for a life insurance company, told the Wall Street Journal.

WallStreetBets, launched in 2012, now boasts 6.2 million users.

The GameStop frenzy — which has pitted amateur investors against deep-pocketed hedge funds — prompted a rare statement from the Securities and Exchange Commission on Friday, which said the agency is working with regulators and US stock exchanges “to identify and pursue potential wrongdoing.”