To the Moon
Q: What Stock Did the Subreddit r/WallStreetBets Take “To the Moon” in 2021?
A: GameStop
In the first few weeks of 2021, a Reddit community known more for memes and market chaos than for serious investing completely disrupted Wall Street. The subreddit r/WallStreetBets, often abbreviated as WSB, catapulted GameStop (ticker symbol: GME) — a struggling video game retailer — into the financial stratosphere. It wasn’t just a stock surge; it was a cultural moment, a financial flash mob, and a digital uprising all rolled into one.
How It All Started
GameStop had been struggling for years as retail moved online and the company’s core business of selling physical video games declined. Many hedge funds believed the stock was doomed and bet against it by heavily shorting it — essentially borrowing shares and selling them, hoping to buy them back later at a lower price and pocket the difference.
But some users on r/WallStreetBets noticed something unusual: GameStop was one of the most shorted stocks in history. This meant if the price began to rise, short sellers would be forced to buy shares to cover their losses — a phenomenon known as a short squeeze. That’s when the WSB community saw an opportunity.
The Rise of a Meme Stock
Led by influential users like “Roaring Kitty” (real name Keith Gill), WSB members started buying up shares and options on GME. The idea wasn’t just to make money — it was about turning the tables on hedge funds, exposing flaws in the financial system, and yes, having a bit of fun along the way. The rallying cry? “To the moon!”
From January 2021, GameStop’s stock soared from under $20 to a high of $483 per share within just a few weeks. Social media exploded. Financial news networks scrambled to keep up. Robinhood and other trading platforms controversially restricted purchases of GME, drawing outrage and even congressional hearings.
More Than Just GameStop
The frenzy didn’t stop with GameStop. Other so-called “meme stocks” like AMC, Blackberry, and Bed Bath & Beyond also got swept up in the wave. The r/WallStreetBets movement became a symbol of retail investor empowerment — a David-versus-Goliath narrative that energized a new generation of market participants.
The Legacy of the GME Squeeze
While the price eventually cooled down, the impact of the GameStop saga is still being felt. It triggered debates about market manipulation, trading app practices, short-selling ethics, and the role of retail investors in modern finance. It also showed that a loosely coordinated online group could shake the foundations of traditional investing.
In short, the stock that Reddit’s r/WallStreetBets took “to the moon” in 2021 was GameStop (GME) — and in doing so, they launched one of the most unexpected financial revolutions of the decade.