Shares of GameStop have skyrocketed after a group of daytraders decided to take aim against Wall Street investors.
Their goal went viral on Reddit with plenty of newcomers jumping on board to drive the stock price from under $20 to more than $300.
The young group of traders targeted troubled stocks to inflate the prices. Professional traders who have borrowed shares of the stock will have to buy them at an inflated rate that largely exceeds the original price.
Analysts warn the inflated stocks will almost definitely crash as quickly as they have risen.
"The reason that hedge fund lost is they misjudged the size of willing buyers on Reddit or online and when those buyers came in, and pushed the price up, the hedge fund never expected it, and they bet the wrong way, and they lost," said George Conboy, chairman of Brighton Securities.
Other companies seeing gains this week include Blackberry, Nokia, and AMC.