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What was the possible reason behind GameStop Stock Surge?

As per the latest developments, Social media bots might have played a major role in GameStop‘s recent stock surges.

Cybersecurity from PiiQ Media recently ran an investigation regarding a pattern of keywords across Facebook, Instagram, Twitter, and YouTube in posts promoting GameStop, Dogecoin, and other “meme” investments.

Going through keywords like “GME” and “Hold the Line,” PiiQ found similar “start and stop patterns,” along with strange spiking at the opening and conclusion of trading days. Aaron Barr, the co-founder and Chief Technology Officer of PiiQ Media, had this to say, “We saw clear patterns of artificial behavior across the other four social media platforms. When you think of organic content, it’s variable in the day, variable day-to-day. It doesn’t have the exact same pattern every day for a month.”

The firm further notifies us that the assumed number is around tens of thousands of bot accounts took part in the recent rallies. In addition to that, it claims that identical activity took place on r/WallStreetBets, despite not looking onto the controversial subreddits pointing towards these suspicious activities.

 

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