While Reddit users are happy about amounts of a few thousand euros, others have made profits in the billions with the Gamestop shares.
It sounds like the story of David and Goliath: Hundreds of thousands of small investors band together and bring huge hedge funds to their knees. The jump in the price of the Gamestop share made many small investors rich on paper, and some even made them millionaires.
But not only the small players benefited from the capricious course. As the Handelszeitung writes, investment firms and billionaires have also made a lot of money with the Gamestop share. So exactly those players hated by Reddit users.
In the picture gallery above you can see who cashed in with the Gamestop flash mob.
In addition to numerous investment firms and private individuals, banks have also benefited from the boom in Gamestop shares. The Swiss National Bank (SNB) has 132,000 Gamestop shares in its portfolio. These were worth $ 1.4 million on September 30, 2020, as the finance blog Inside Paradeplatz writes. The SNB earned $ 44 million with the rise in the Gamestop share.
It is not clear whether the many small investors were aware that investment companies and rich people would also benefit if the price of the Gamestop share rose. Nostalgic feelings may also have played a role, especially among small investors in the USA, as CNBC writes. Many would have known Gamestop as a store from childhood and would have had a little fun with it before the name disappears forever.
