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If viewers blinked, they missed it.
Following the Super Bowl LV halftime show on Sunday, a five-second ad popped on air. Impossible to read the entire message unless paused, it was easy to make out that the spot was from the social media site Reddit, which has been in the headlines of late due to the GameStop and AMC stock drama.
“Wow, this actually worked,” the message began. “One thing we learned from our communities last week is that underdogs can accomplish just about anything when they come together around a common idea,” it read, clearly referring to the stock market manipulation. Reddit bought the ad time across several of the country’s top regional markets.
“Powerful things happen when you rally around things you really care about. And there’s a place for that. It’s called Reddit,” the message concluded.
More than a week ago, Reddit stock traders rallied around GameStop driving the stock up to nearly an astonishing $500 a share. In December, the stock was trading for around $10 a share. The Reddit traders did it to flex muscle against hedge funds that short sold the stock, essentially meaning they bet it would go down in price shares.
The results were the stock going through the roof, turning at least one of the Reddit investors into a multi-millionaire while drawing attention to the community of mostly day traders. The actions also made headlines across the country and even worked in to the White House press room.
The Reddit stock has since plummeted back down, the stock closing Friday at $63 a share.
— Ryan Parker (@TheRyanParker) February 8, 2021
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