On April 3, 2020, shares of GameStop stock were selling for $2.80 per share. Keith Gill, a 34-year old Reddit user from Massachusetts invested $53,000 in GameStop. He then started sharing information about his investment on social media and predicted that the value of GameStop would go up due to the pandemic and with the release of new gaming consoles. Gill gained a rather large following and, inspired by him and other investors (many of whom were young investors) invested in GameStop. Many of these young investors used no-fee online trading platforms like Robinhood and WeBull. By January 27, 2021 this purchasing frenzy had driven the price of GameStop up to $347.51 per share and Gill had become a multimillionaire. The closing price of GameStop stock on June 9, 2021 was $302.56 per share.

For your first post, calculate how many shares Gill was able to purchase on April 3, 2020. How much were his shares worth on June 9, 2021? Be sure to show your calculations.

For your first reply post, reply to your own post and calculate Gill’s profit if he sold his shares on June 9, 2021. Explain how you figured this out.

For your second reply post, find another peer’s post and see if their calculations match yours. If they don’t, figure out why. Then, comment on Gill’s strategy of investing in a single stock (or a single company). Do you think that’s a good idea? Look up this investing strategy online for more information before making your decision.