Tech

Reddit's r/WallStreetBets appeared to be down briefly on Wednesday morning after the forum sparked a spectacular GameStop rally

By Allana Akhtar
r/wallstreetbets
The stock skyrocketed 145% over the weekend as r/WallStreetBets members cheered the rally. Allana Akhtar/Business Insider
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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.

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Allana Akhtar
Allana Akhtar
Allana Akhtar was a senior health reporter for Insider, where she covers the emerging wellness industry and general health topics. During the COVID-19 pandemic, Allana wrote extensively about nurses, mask mandates, the vaccine rollout, and disparities in access to health. Her articles include features on nurses needing to re-use PPE in the early days of the pandemic, ones who struggled to get paid time off after getting COVID-19, and those who left bedside care after grueling pandemic working conditions. Allana also spoke to flight attendants and retail workers who faced violence as they enforced mask mandates, and community health workers who said they struggled to receive equitable vaccine access during the initial rollout. Allana now reports on emerging trends within the wellness industry, including the Westernization of indigenous medicine and dangerous wellness trends spread through social media. She also writes about plastic surgery, racial disparities in healthcare, and breaking health news. Allana has won numerous awards for her work, including the Best News Story by the Michigan Press Association in 2015, Best Reporter Covering Nurses in 2019, and the Morris and Lola Wasserstein Award for her contribution to the the University of Michigan's student paper as an Honors student. Before Insider, Allana wrote for USA TODAY, US News & World Report, Money Magazine, Health Magazine, Jalopnik, and more. You can email her at aakhtar@jkmperu.com, call/text her at (646) 376-6058, or follow her on Instagram, TikTok, Twitter, and LinkedIn. Secure tips line: Signal # 248 760 0208'We're grossly unprepared': Nurses share their frustration as the coronavirus spreads with little direction from the government or hospitals on how to mitigate it'Sexy nurse' costumes demean one of the most in-demand professions in American life — and they're a bestseller on Amazon right nowFlight attendants describe 'unprecedented' violence as travel returns and passenger aggression soarsG/O Media fired a queer employee of color who wore crop tops, shorts, and heels to work, violating a brand-new dress code that others say they routinely violated without being punishedContractors at controversial startup Rev say they worked long hours for little pay, feared they could lose their job at any time, and had to transcribe interviews with sexual-abuse survivors without warning
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