GameStop Short Squeeze
About GameStop Short Squeeze
In January 2021, retail investors on the Reddit forum r/wallstreetbets drove GameStop stock from 20 to 483 dollars in two weeks, devastating hedge funds that had shorted the stock. Melvin Capital lost 6.8 billion dollars. Trading platform Robinhood restricted purchases, causing outrage and congressional hearings. The event highlighted the growing power of retail investors coordinated through social media. GameStop later fell back to earth but remained above pre squeeze levels. The saga inspired books, documentaries, and a movie. It exposed tensions between Wall Street institutional investors and Main Street retail traders.
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