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Firm that monitors Reddit saw GameStop mentions spiking days ago

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Mentions of GameStop increased on Reddit days before shares of the video-game retailer took off again, according to Justin Zhen, co-founder of Thinknum, a tech firm that compiles alternative data sets for investors.

“In the last 24 hours, we saw the number of occurrences of mentions for GameStop spike. It actually started spiking about four days ago,” Zhen said in an interview Thursday on CNBC’s “The Exchange.”

“The volume today has been insane, but we see a huge spike in advance of the run-up of the stock yesterday,” he said.

Zhen was referencing Wednesday’s major late-day gain in GameStop shares, which ultimately closed higher by more than 100%. The stock rallied further during…



Source cnbc.com

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