Tag: Gamestop

(27 January 2021) Stocks tanked today as nervous investors headed for the exits amid the GameStop short squeeze.  The video game retailer (ticker: GME) has become the focus of intense speculation in the past two weeks as members of the Reddit chatroom, WallStreetBets, co-ordinated a short squeeze against large hedge funds that had heavily shorted the stock, largely through the purchase of highly leveraged call options. As a result of the explosive 20-fold rise in the share price, the older, established hedge funds have lost billions of dollars at...