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A GameStop store in 2014. GameStop, an American chain of brick-and-mortar video game stores, had struggled in the years leading up to the short squeeze due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.
The GameStop short squeeze, starting in January 2021, was a short squeeze occurring on shares of GameStop, [19] [20] primarily triggered by the Reddit forum WallStreetBets. [21] [22] This squeeze led to the share price reaching an all-time intraday high of US$483 on January 28, 2021 on the NYSE.
Short sellers have lost more than $2.2 billion as the stock has run up. A short squeeze happens when a significant enough number of investors have bet against a stock to go down.
r/wallstreetbets, also known as WallStreetBets or WSB, is a subreddit where participants discuss stock and option trading. It has become notable for its colorful jargon, aggressive trading strategies, stories of extreme gains and losses acquired in the stock market, and for playing a major role in the GameStop short squeeze that caused significant losses for a number of US hedge funds and ...
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At best, shorting a stock offers investors a chance to double their money -- but it also unlocks unlimited downside. In today's market, pessimism is flowing into solar stocks with short positions ...
In January 2021, Cohen's hedge fund Point72 joined Ken Griffin's Citadel in putting $2.75 billion into Melvin Capital, the hedge fund of former Cohen protege Gabe Plotkin, as a result of the GameStop short squeeze. [27] [28] Cohen denied that his involvement with the short squeeze would affect his willingness to spend money on the New York Mets ...
A short squeeze can occur if the price of stock with a high short interest begins to have increased demand and a strong upward trend. To cut their losses, short sellers may add to demand by buying shares to cover short positions, causing the share price to further escalate temporarily. [3] [4]