Home Uncategorized Reddit Buys 5-Second Super Bowl Ad, Touts GameStop Stock Craze

Reddit Buys 5-Second Super Bowl Ad, Touts GameStop Stock Craze

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“Powerful things happen when you rally around the things you really care about,” the message reads in part. If the audience blinks, they miss.

After the Super Bowl LV halftime show on Sunday, a five-second advertisement went on air. Until the impossible to read entire message was stopped, it was easy to find that the spot was from the social media site Reddit, which has been in the headlines of late due to Gamestop and the AMC stock drama.

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“Wow, this really worked,” the message began. “One thing we’ve learned from our communities last week is that underdogs can accomplish anything when they come together around a common idea,” referring explicitly to stock market manipulation.

“Powerful things happen when you rally around the things you really care about. And there’s a place for that. It’s called Reddit,” the message concluded.

For over a week, Reddit stock traders had rallied around GameStop and raised the stock to around $ 500 per share. The stock was trading at around $ 10 a share in December. Reddit traders did this to flex the muscle against hedge funds that sold the stock short, essentially meaning they would go down in value stocks.

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The result was stocks that went through the roof, attracting the attention of the community of most traders, turning at least one of the Reddit investors into a multi-millionaire. The action made headlines across the country and even worked in the White House press room.

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Since Reddit stock has fallen back down, the stock closed at $ 63 per share on Friday.

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