GameStop stock has surged thanks to enthusiastic WallStreetBets Reddit users. Here’s what you need to know

It’s a story with all the makings of a Hollywood blockbuster: the little guys beat the corporate titans at their own game, expose hypocrisy and get insanely rich in the process.

But that’s not where the story of GameStop, whose stock is surging thanks largely to a giddy mob of “degenerates” on Reddit, ends.

Now, the corporate titans — Wall Street hedge funds, commentators and regulators — seem poised to fight back, calling the situation “systematically wrong”.

Here’s what going on with GameStop and where the story might go next.

Wait … what is GameStop?

GameStop, listed on the New York Stock Exchange as GME, is a chain of video game shops in the US.

You’ll find them in suburban shopping centres across the country, and they are the…