Ok so what the redditors have done is put the squeeze on the big players?
From what I just read, those squeezes were just a beginning. Now off (after/pre) hour traders are trying to scare them away and get them to sell. If they don’t fall for it, once the market opens, the squeeze will get even tighter. So I have read.
Someone noticed that the big players, in their greed, had sold short 140% of all the GameSpot shares in existence, in hopes of crashing the share price and making them money. This means that if the stock started to go up, there was NFW that the big players could buy enough shares to cover their shorts. As long as the redditors keep buying or even just holding, then the big players have to keep competing amongst each other to buy shares before they go even higher. From a low of $2.50/share prices went up yesterday to over $400, making the redditors a lot of money (on paper) and costing the big players a lot of money (in reality and on paper).
Hopefully the redditors have each sold enough high-priced shares to cover their original investment. At some point the whole thing will explode and the share price will once again reflect the actual value of the company, a few dollars per share.
Elon Musk loves this because the big players have tried to do the same thing to Tesla stock, and failed, losing billions of dollars.