Spain Reddit effect

Tubacex's record orders

The “Reddit Effect” Replicated In The Spanish Stock Market

The social network Telegram has been crowded with groups to buy and sell shares in a coordinated way imitating the actions of US Reddit forum to boost the stock price of GameStop. The Tubacex case, a steel pipe manufacturing company, has been the first target of a group of imitators in Spain known in Telegram as “Spanish WS Bets.” After that move, the company soared 15% in the stock market an caught the attention of the National Securities Market Commission.