Reddit
The GameStop Short Squeeze: A Wild Ride
What Happened?
A group of amateur traders on Reddit's WallStreetBets forum banded together to buy shares of the struggling video game retailer, GameStop.
The Result?
The coordinated buying spree caused GameStop's stock price to skyrocket, triggering a short squeeze that forced hedge funds who had bet against the company to cover their losses at a huge cost.
The Impact?
The GameStop short squeeze captivated the financial world and beyond, bringing attention to the power of retail investors and the risks of excessive short selling.
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