Saudi Press

Saudi Arabia and the world
Saturday, Feb 22, 2025

Reddit bought a 5-second Super Bowl ad honoring 'underdogs' involved in GameStop trading frenzy

Reddit bought a 5-second Super Bowl ad honoring 'underdogs' involved in GameStop trading frenzy

Reddit Chief Marketing Officer Roxy Young told FOX Business in a statement that the Super Bowl ad came together in "just a few short days" with the help of its agency partners at R/GA. 

In all the craziness of Sunday night's Super Bowl, viewers in some of America's biggest cities may have missed an ad from Reddit.


The spot ran for a total of five seconds, consisting of a simple message honoring the "underdogs" involved in the GameStop trading frenzy last month, which appeared to be jammed between a car commercial and a video of horses.

"Wow, this actually worked," Reddit's message read. "If you’re reading this, it means our bet paid off."

The company acknowledged that while it couldn't afford to buy a full Super Bowl ad, it was "inspired" and decided to spend its entire marketing budget on the five seconds of airtime. According to Variety, a full 30-second Super Bowl ad cost around $5.5 million. Therefore, a five-second ad would cost about $915,000.

But the spot did not air nationally, as major networks -- especially for the Super Bowl -- do not fractionalize ad inventory. This aired on several of CBS' owned stations including WCBS in New York, KCBS in Los Angles, WBBM in Chicago and KPIX in San Francisco.

"One thing we learned from our communities last week is that underdogs can accomplish anything when they come together around a common idea," Reddit continued, in reference to the platform's speculative investing discussion forum WallStreetBets. "Who knows, maybe you’ll be the reason finance textbooks have to add a chapter on “tendies.” Maybe you’ll help r/SuperbOwl teach the world about the majesty of owls. Maybe you’ll even pause this 5-second ad. Powerful things happen when people rally around something they really care about. And there’s a place for that. It’s called Reddit."

Reddit Chief Marketing Officer Roxy Young told FOX Business in a statement that the Super Bowl ad came together in "just a few short days" with the help of its agency partners at R/GA.

"I am really proud of what we were able to achieve with just five seconds and think it beautifully captures the heart of Reddit in our unique and brilliantly absurd tone,” Young added.

The advertisement comes after Reddit users banded together last month to buy up the struggling video game retailer's call options, causing GameStop stock to surge to unprecedented levels and hurt market short-sellers. According to data provided to FOX Business by financial data firm Ortex, short-sellers have lost at least $19 billion on GameStop stock as of Jan. 29.

WallStreetBets then began targeting other heavily-shorted stocks, including AMC Entertainment Holdings, Blackberry Limited, Bed Bath & Beyond, Express Inc, and Nokia Corp, among others.

The move caught the attention of Wall Street and Main Street alike and prompted investing platforms like Robinhood to restrict trading on the securities. Robinhood's decision sparked anger online, resulting in two lawsuits being filed against the company before the move was later rolled back.

However, some lawmakers, like Rep. Alexandria Ocasio Cortez, D-N.Y., Sen. Ted Cruz, R-Texas, and Sen. Elizabeth Warren, D-Mass., were all in agreement that there should also be a congressional investigation into Robinhood's action. Robinhood co-founder Vlad Tenev has reportedly been asked to testify on Capitol Hill before the House Financial Services Committee on Feb. 18 at 12:00 p.m. ET to address the recent market volatility.


Tenev previously said in a Twitter thread said that the investment app restricted the stocks because it has many financial requirements, including "SEC net capital obligations and clearing house deposits", which fluctuate based on market volatility.

"These requirements exist to protect investors and the markets and we take our responsibilities to comply with them seriously, including through the measures we have taken today," he added. "To be clear, this decision was not made on the direction of any market maker we route to or other market participants."

His comments came amid reports that major hedge funds with ties to Robinhood, including Sequoia Capital and Citadel Securities, were involved in the decision to halt trading. Both of the firms have denied involvement in the decision.

In addition, Treasury Secretary Janet Yellen held a meeting with the heads of the Federal Reserve, Federal Reserve Bank of New York, the Commodities Future Trading Commission and the Securities and Exchange Commission to determine if "further action" would be warranted related to the market volatility surround GameStop. Both the SEC and New York Attorney General Leticia James also said they would conduct their own reviews into the matter.


GameStop shares have fallen more than 7% during Monday's trading session as of the time of publication.

Newsletter

Related Articles

Saudi Press
0:00
0:00
Close
Saudi Arabia and the United States Strengthen Ties Amid Global Developments
Saudi Arabia Hosts Global Conference to Promote Islamic Unity
The Impact of Artificial Intelligence on Education and Child Development
Saudi Arabia Announces Competition for Best Founding Day Outfits
Saudi-EU Food Security Officials Hold Talks to Strengthen Collaboration
Putin Expresses Gratitude to Saudi Crown Prince for Hosting US-Russia Talks
UK and Saudi Arabia Enhance Collaboration in Innovation and Technology
Denmark's Embassy in Riyadh Showcases Danish Cuisine with Saudi Influence
Saudi Artist Salman Al-Amir Unveils 'Tafawut' Exhibition in Riyadh
Saudi Arabia Offers Condolences to Kuwait Following Military Exercise Fatalities
Saudi Ministry of Islamic Affairs Completes Ramadan Preparations in Madinah
Etidal Secretary-General Hosts UN Counter-Terrorism Director in Riyadh
ADNOC Drilling Targets Over $1 Billion in Investments for 2025 Amid Gulf Expansion Plans
Derayah Financial Achieves Remarkable Growth in Saudi Brokerage and Asset Management
Saudi Arabia Shortlists 30 Firms for Mining Licenses in Eastern Province and Tabuk
Saudi Foreign Minister Engages Counterparts at G20 Meeting in Johannesburg
Oil Prices Decline Amid Rising US Inventories
Saudi Arabia's NDMC Plans Green Bond Issuance by 2025
Moody’s Affirms Egypt’s Caa1 Rating Amid Positive Economic Outlook
Oman and Saudi Arabia Strengthen Economic Ties with New Agreements
Saudi Arabia Investments Propel Expansion of Qurayyah Power Plant
Saudi Capital Market Authority Advances SPACs and Direct Listings
Global Energy Leaders Gather in Riyadh for Symposium on Energy Outlooks
Al-Ahsa Region Sees 500% Growth in Tourism as Saudi Arabia Prioritizes Development
Saudi Arabia Advances Entrepreneurial Ecosystem in Al-Ahsa with New Agreement
King Salman Approves Official Saudi Riyal Symbol
Saudi Credit Card Lending Reaches $8.4 Billion Amid Digital Payment Expansion
King Salman Approves Official Symbol for Saudi Riyal
Putin Thanks Saudi Crown Prince for Facilitating U.S.-Russia Discussions
Saudi Foreign Minister Attends G20 Meeting in Johannesburg
Saudi Arabia Prepares for Nationwide Founding Day Celebrations
Inauguration of Hira Park and Walkway Enhances Jeddah's Urban Landscape
Crown Prince Hosts Leaders for Informal Meeting in Riyadh Amid Gaza Rebuilding Plans
Saudi Official Highlights Achievements and Media's Role in National Transformation
Three Expatriate Women Arrested for Prostitution in Riyadh
Saudi Arabia's Diplomatic Evolution Highlighted at Saudi Media Forum
Healthy Eating and Preparation Essential for Ramadan Fasting
Saudi Arabia and Japan Forge Sustainable Textile Partnership
Advanced Limb Surgery Restores Mobility in Pediatric Cancer Patient
Jeddah Event Explores AI's Role in Boosting Saudi Arabia's SME Sector
UN Representative Highlights AI's Role in Perpetuating Gender Stereotypes
Saudi and Jordanian Leaders Discuss Enhanced Security Cooperation in Amman
Saudi British Society Honors Cultural Bridge-Builders at London Gala
Saudi Media Forum 2025 Explores AI's Role in Modern Journalism
Saudi Arabia's Saqer Al-Moqbel Appointed as WTO General Council President for 2025–2026
Saudi Deputy Ministers Engage in Diplomatic Discussions with U.S. and Dutch Officials in Riyadh
Saudi Arabia to Launch Iftar Program in 61 Countries During Ramadan
Saudi Visitors Expected to Spend £942 Million in UK During 2025
Saudi Arabia Gifts Kaaba's Kiswah to Uzbekistan's Center of Islamic Civilization
Digital Cooperation Organization Concludes Fourth General Assembly with Multiple Agreements
×