Allana Akhtar/Business Insider
- The Reddit page r/WallStreetBets could not load for some users briefly around 9:30 a.m. ET on January 27.
- r/WallStreetBets had encouraged investors to bid on GameStop stock.
- GameStop skyrocketed 145% over the weekend as r/WallStreetBets members cheered the rally.
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The Reddit forum that appeared to drive GameStop stock’s remarkable surge appeared to crash for some users.
The page r/WallStreetBets, which had encouraged investors to bid on GameStop shares and led to billions of dollars of losses for the stock’s short-sellers, could not load for some users the morning of January 27. DownDetector had more than 3,000 reports of problems accessing the site between 9:30 a.m. and 10 a.m. EST.
GameStop stock price was at $300 around when r/WallStreetBets appeared to crash. The stock skyrocketed 145% over the weekend as r/WallStreetBets members cheered the rally.
Reddit for did not immediately respond to Insider’s request for comment.
Insider’s Ben Winck reported the page had 2.2 million subscribers shortly before crashing. Membership increased by 133% to 1.8 million last year.
Redditor enthusiasm has also led to a surge in BlackBerry and Bed, Bath, and Beyond stock this week.
This is a developing story.