User:LaserLegs/GameStop short squeeze 20210226

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1004078613 2021-02-01T00:03:04Z 122983(122983) 4176(4176) 207(207) Further reading
1004079848 2021-02-01T00:08:00Z 123434(451) 4198(22) 208(1) Halting of stock purchases
    As of January 29, Robinhood still imposes limits on the trading of GameStop, AMC and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Motor Cars and Starbucks Corporation.
    As of January 29, Robinhood still imposes limits on the trading of GameStop, AMC and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Motor Cars and Starbucks Corporation. However, on January 31, Robinhood announced it had removed several of these restrictions and would only limit the sale of eight securities.
1004080575 2021-02-01T00:11:25Z 123435(1) 4198(0) 208(0) Halting of stock purchases
    As of January 29, Robinhood still imposes limits on the trading of GameStop, AMC and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Motor Cars and Starbucks Corporation. However, on January 31, Robinhood announced it had removed several of these restrictions and would only limit the sale of eight securities.
    As of January 29, Robinhood still imposes limits on the trading of GameStop, AMC, and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Motor Cars and Starbucks Corporation. However, on January 31, Robinhood announced it had removed several of these restrictions and would only limit the sale of eight securities.
1004080692 2021-02-01T00:12:04Z 123798(363) 4200(2) 209(1) Stocks
    GME Resources, an Australian mining company, saw their shares increase over 50% during intraday trading, closing with a 13.3% increase on January 28. This was speculated to have occurred as a joke given the identical ticker symbols on different exchanges.
    GME Resources, an Australian mining company, saw their shares increase over 50% during intraday trading, closing with a 13.3% increase on January 28. This was speculated to have occurred as a joke or mistake given the identical ticker symbols on different exchanges.
1004081112 2021-02-01T00:14:16Z 123344(-454) 4172(-28) 208(-1) Hedge funds and short sellers
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin stated to CNBC that they covered (closed) its position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, 2021, it was reported that short sellers lost a total of $6 billion due to the squeeze. Melvin Capital, founded in 2014 by Gabriel Plotkin, said it does not comment on positions and trading, yet its own spokesperson stated that Melvin Capital closed its position after repositioning its portfolio, an attempt to influence retail investors to sell so the hedge fund could cover their shorts.
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin stated to CNBC that they covered (closed) its position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, 2021, it was reported that short sellers lost a total of $6 billion due to the squeeze. On 27 January 2021, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio.
1004082962 2021-02-01T00:24:31Z 123375(31) 4172(0) 208(0) Rise in stock purchases
1004086981 2021-02-01T00:45:26Z 123364(-11) 4170(-2) 208(0) Hedge funds and short sellers
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin stated to CNBC that they covered (closed) its position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, 2021, it was reported that short sellers lost a total of $6 billion due to the squeeze. On 27 January 2021, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio.
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin stated to CNBC that they covered (closed) its position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio.
1004087474 2021-02-01T00:48:19Z 123331(-33) 4170(0) 208(0) Timeline
1004089677 2021-02-01T01:01:20Z 124907(1576) 4192(22) 212(4) GameStop
    At the end of 2020, there were 69.75 million shares outstanding (or 102 million), 46.89 million shares float, and 68-71.2 million shares shorted.

1004089960 2021-02-01T01:02:31Z 125883(976) 4223(31) 215(3) Other affected assets

    Following the stock market surge, futures for silver began to rapidly increase as well. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
1004090015 2021-02-01T01:02:42Z 124850(-1033) 4182(-41) 213(-2) Public figures
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior as a result of the federal response to the pandemic and stated his opposition to capital gains tax increases, saying "This fair share is a bullshit concept. It's just a way of attacking wealthy people, and I think it's inappropriate ... We've all got to work together and pull together." Senator Bernie Sanders (I-VT) responded to Cooperman in a tweet, saying "Oh look, another billionaire is mad that he might have to pay more taxes while children in America go hungry and veterans sleep on the street. Cry me a river."
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior as a result of the federal response to the pandemic and stated his opposition to capital gains tax increases, saying "This fair share is a bullshit concept. It's just a way of attacking wealthy people, and I think it's inappropriate ... We've all got to work together and pull together."
1004090071 2021-02-01T01:03:01Z 124850(0) 4182(0) 213(0) Metal futures
1004091002 2021-02-01T01:08:22Z 125883(1033) 4223(41) 215(2)
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior as a result of the federal response to the pandemic and stated his opposition to capital gains tax increases, saying "This fair share is a bullshit concept. It's just a way of attacking wealthy people, and I think it's inappropriate ... We've all got to work together and pull together."
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior as a result of the federal response to the pandemic and stated his opposition to capital gains tax increases, saying "This fair share is a bullshit concept. It's just a way of attacking wealthy people, and I think it's inappropriate ... We've all got to work together and pull together." Senator Bernie Sanders (I-VT) responded to Cooperman in a tweet, saying "Oh look, another billionaire is mad that he might have to pay more taxes while children in America go hungry and veterans sleep on the street. Cry me a river."
1004091034 2021-02-01T01:08:32Z 126676(793) 4271(48) 217(2) Halting of stock purchases
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin stated to CNBC that they covered (closed) its position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio.

    Losses on short positions in U.S. firms topped $70 billion. Ortex data showed that as of January 27, there were loss-making short positions on more than 5,000 U.S. firms.
    Following the stock market surge, futures for silver began to rapidly increase as well. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin stated to CNBC that they covered (closed) its position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    Losses on short positions in U.S. firms topped $70 billion. Ortex data showed that as of January 27, there were loss-making short positions on more than 5,000 U.S. firms.


    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10% when messages circulated on the subreddit urging retial investors to drive up the price. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
1004091457 2021-02-01T01:11:14Z 126678(2) 4271(0) 217(0) Other affected assets
1004091754 2021-02-01T01:13:04Z 126689(11) 4273(2) 217(0) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10% when messages circulated on the subreddit urging retial investors to drive up the price. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10% when messages circulated on the subreddit urging retail investors to drive up the prices of metals. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
1004092254 2021-02-01T01:16:22Z 126905(216) 4307(34) 217(0) Political figures
    Senator Elizabeth Warren (D-MA) called out the large investors and hedge funds who were criticizing the rally, saying they "have treated the stock market like their own personal casino while everyone else pays the price". Warren also called on the U.S. Securities and Exchange Commission to take a bigger stand, saying they must "act to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders" and "to have a healthy stock market, you've got to have a cop on the beat." Similar sentiments were expressed by Representative Alexandria Ocasio-Cortez (D-NY), Senator Ted Cruz (R-TX), Representative Rashida Tlaib (D-MI), Representative Ted Lieu (D-CA), Representative Marjorie Taylor Greene (R-GA), CNN anchor Jake Tapper, Fox Business host Charles Payne, conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr. Some lawmakers, such as Ocasio-Cortez, Cruz, and Representative Ro Khanna (D-CA) also expressed frustration at Robinhood and others' decisions to close individual trading of GameStop, among other stocks.
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, including Representative Alexandria Ocasio-Cortez (D-NY), Senator Ted Cruz (R-TX), Representative Rashida Tlaib (D-MI), Representative Ted Lieu (D-CA), Representative Marjorie Taylor Greene (R-GA), CNN anchor Jake Tapper, Fox Business host Charles Payne, conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr. Some lawmakers, such as Ocasio-Cortez, Cruz, and Representative Ro Khanna (D-CA) also expressed frustration at Robinhood and others' decisions to close individual trading of GameStop, among other stocks.

    Senator Elizabeth Warren (D-MA) criticized both the short sellers and the buyers, and argued that more regulation was needed. She stated that the large investors and hedge funds who were criticizing the rally "have treated the stock market like their own personal casino while everyone else pays the price". She also called on the U.S. Securities and Exchange Commission to take a bigger stand, saying they must "act to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders" and "to have a healthy stock market, you've got to have a cop on the beat."

1004094318 2021-02-01T01:29:17Z 128181(1276) 4419(112) 219(2) Political figures
    Better Markets President and CEO Dennis Kelleher stated “Unfortunately, it should be another ‘flash crash’ moment that wakes people up to their false sense of security that our markets are functioning properly when they’re full of fraud, manipulation and conflicts of interest that benefit the big players and screw the buy-side and the retail players,” advocating for greater Wall Street oversight.


    Bryan Corbett, president and CEO of the Managed Funds Association, which represents that industry, stated "The hedge fund industry supports greater access to financial markets ... Essential fairness for all investors requires that there be an orderly market with an effective price discovery function. It fosters stability, reduces risk and encourages market confidence.”
1004096609 2021-02-01T01:43:35Z 128111(-70) 4409(-10) 219(0) Political figures
    In a interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on wild, reckless, unfounded speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... They don't really understand what they're doing. I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian politician, businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, instead remarking "They’re learning about the risks of the market. ... We forgot to educate them in high school, so let them learn in the real world, which is even better." O'Leary said that hedge funds now faced the new risk that "social media vigilantes" would target them, which would caution them from aggressively selling short stocks. O'Leary emphasized that the virality of the GameStop trade—aided partly by zero-commission brokerage apps such as Robinhood—had sparked a growing interest in investing.
    In a interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on reckless speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian politician, businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, remarking "They’re learning about the risks of the market. ... We forgot to educate them in high school, so let them learn in the real world, which is even better." O'Leary said that hedge funds now faced the new risk that "social media vigilantes" would target them, which would caution them from aggressively selling short stocks. O'Leary emphasized that the virality of the GameStop trade—aided partly by zero-commission brokerage apps such as Robinhood—had sparked a growing interest in investing.
1004098641 2021-02-01T01:53:33Z 128448(337) 4415(6) 220(1) Rise in stock purchases
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!" along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, excluding extended-hours trading, is $483.00 (nearly 190 times the record low of $2.57).
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!" along with a link to the r/wallstreetbets subreddit ("stonk" is internet slang for "stock"). A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, excluding extended-hours trading, is $483.00 (nearly 190 times the record low of $2.57).
1004101259 2021-02-01T02:05:54Z 127255(-1193) 4347(-68) 218(-2) Public figures
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior as a result of the federal response to the pandemic and stated his opposition to capital gains tax increases, saying "This fair share is a bullshit concept. It's just a way of attacking wealthy people, and I think it's inappropriate ... We've all got to work together and pull together." Senator Bernie Sanders (I-VT) responded to Cooperman in a tweet, saying "Oh look, another billionaire is mad that he might have to pay more taxes while children in America go hungry and veterans sleep on the street. Cry me a river."
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
1004101324 2021-02-01T02:06:13Z 126601(-654) 4287(-60) 217(-1) Public figures
    Better Markets President and CEO Dennis Kelleher stated “Unfortunately, it should be another ‘flash crash’ moment that wakes people up to their false sense of security that our markets are functioning properly when they’re full of fraud, manipulation and conflicts of interest that benefit the big players and screw the buy-side and the retail players,” advocating for greater Wall Street oversight.

1004101674 2021-02-01T02:08:24Z 125979(-622) 4235(-52) 216(-1) Public figures
    Bryan Corbett, president and CEO of the Managed Funds Association, which represents that industry, stated "The hedge fund industry supports greater access to financial markets ... Essential fairness for all investors requires that there be an orderly market with an effective price discovery function. It fosters stability, reduces risk and encourages market confidence.”

1004105175 2021-02-01T02:30:32Z 126938(959) 4252(17) 219(3) Cryptocurrencies
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800%. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, surged to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800%. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, surged to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users. Robinhood sparked controversy by banning trading on Dogecoin Cryptocurrency trading service Coinbase also faced multiple connectivity issues.
1004119133 2021-02-01T04:08:35Z 126827(-111) 4232(-20) 219(0) r/wallstreetbets
    On January 27, Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. The community surged by more than 1.5 million users to 6 million members on January 29. r/wallstreetbets was the fastest-growing subreddit in the week of the short squeeze, increasing its members by more than 2 million between January 22 and January 29.
    On January 27, Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/wallstreetbets was the fastest-growing subreddit, as the community surged by more than 1.5 million users to 6 million members on January 29.
1004121841 2021-02-01T04:28:38Z 126828(1) 4232(0) 219(0) Companies with increased stock value
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manger who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to January 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman, who, according to Bloomberg News, owns over 2.3 million shares in the company, had his shares which were worth $44 million on December 31 climb and hit $1.1 billion when GameStop's stock reached $469, briefly making Sherman a billionaire, before his stock prices lowered to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outsider information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manager who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to January 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman, who, according to Bloomberg News, owns over 2.3 million shares in the company, had his shares which were worth $44 million on December 31 climb and hit $1.1 billion when GameStop's stock reached $469, briefly making Sherman a billionaire, before his stock prices lowered to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outsider information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
1004122586 2021-02-01T04:35:04Z 126829(1) 4232(0) 219(0) Cryptocurrencies
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800%. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, surged to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users. Robinhood sparked controversy by banning trading on Dogecoin Cryptocurrency trading service Coinbase also faced multiple connectivity issues.
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800%. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, surged to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users. Robinhood sparked controversy by banning trading on Dogecoin. Cryptocurrency trading service Coinbase also faced multiple connectivity issues.
1004125388 2021-02-01T04:56:42Z 126876(47) 4232(0) 219(0) Cryptocurrencies
1004145854 2021-02-01T07:47:08Z 126902(26) 4232(0) 219(0) Retaliation and protests
1004146374 2021-02-01T07:51:22Z 126937(35) 4236(4) 219(0)
    According to a report by Bloomberg, Andrew Left, an activist short seller and head of Citron Research, had also shorted the stock and claimed to have closed the position as a total loss. Citron Research stated in an interview held by Andrew Left that the company has covered the majority of its short positions in the range of $90 per share at a loss of 100%, now having a small manageable position. Due to the enormous losses, Left stated that Citron Research would discontinue offering short-sell analysis after 20 years of service, and instead focus on "long side multibagger opportunities for individual investors". The Wall Street Journal reported that Left was being targeted online, including an incident where Left's social media accounts were hacked to text his children and used "threatening, profane and personal language".
    According to a report by Bloomberg, Andrew Left, an activist short seller and head of Citron Research, had also shorted the stock and claimed to have closed the position as a total loss. Citron Research stated in an interview held by Andrew Left that the company has covered the majority of its short positions in the range of $90 per share at a loss of 100%, now having a small manageable position. Due to the enormous losses, Left stated that Citron Research would discontinue offering short-sell analysis after 20 years of service, and instead focus on "long side multibagger opportunities for individual investors".

    The Wall Street Journal reported that short seller and Citron Research editor Andrew Left was being targeted online, including an incident where Left's social media accounts were hacked to text his children "threatening, profane and personal language".
1004148282 2021-02-01T08:07:47Z 127549(612) 4236(0) 220(1) Stocks
1004148981 2021-02-01T08:14:56Z 127714(165) 4236(0) 220(0) Stocks
1004149694 2021-02-01T08:21:00Z 127615(-99) 4220(-16) 220(0) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10% when messages circulated on the subreddit urging retail investors to drive up the prices of metals. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
1004151941 2021-02-01T08:41:56Z 127632(17) 4220(0) 220(0) Investigations
1004156493 2021-02-01T09:21:10Z 127648(16) 4220(0) 220(0) See also
1004161725 2021-02-01T10:03:28Z 127779(131) 4220(0) 220(0)
1004161933 2021-02-01T10:05:05Z 127789(10) 4220(0) 220(0)
1004164212 2021-02-01T10:14:40Z 127784(-5) 4219(-1) 220(0) Hedge funds and short sellers
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin stated to CNBC that they covered (closed) its position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) its position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004164391 2021-02-01T10:15:55Z 127786(2) 4219(0) 220(0) Hedge funds and short sellers
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) its position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004164937 2021-02-01T10:20:03Z 127751(-35) 4213(-6) 220(0) Hedge funds and short sellers
    According to a report by Bloomberg, Andrew Left, an activist short seller and head of Citron Research, had also shorted the stock and claimed to have closed the position as a total loss. Citron Research stated in an interview held by Andrew Left that the company has covered the majority of its short positions in the range of $90 per share at a loss of 100%, now having a small manageable position. Due to the enormous losses, Left stated that Citron Research would discontinue offering short-sell analysis after 20 years of service, and instead focus on "long side multibagger opportunities for individual investors".
    According to a report by Bloomberg, Andrew Left, an activist short seller and head of Citron Research, had also shorted the stock and claimed to have closed the position as a total loss. In an interview, he claimed that the company had covered the majority of its short positions in the range of $90 per share at a loss of 100%, retaining a small, manageable position. Due to the enormous losses, Left stated that Citron Research would discontinue offering short-sell analysis after 20 years of service, and instead focus on "long side multibagger opportunities for individual investors".
1004165087 2021-02-01T10:21:06Z 127773(22) 4213(0) 220(0) Hedge funds and short sellers
1004166207 2021-02-01T10:29:44Z 127767(-6) 4212(-1) 220(0) Companies with increased stock value
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manager who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to January 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman, who, according to Bloomberg News, owns over 2.3 million shares in the company, had his shares which were worth $44 million on December 31 climb and hit $1.1 billion when GameStop's stock reached $469, briefly making Sherman a billionaire, before his stock prices lowered to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outsider information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manager who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to January 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman owns over 2.3 million shares in the company, according to Bloomberg News. These shares were worth $44 million on December 31, but reached $1.1 billion when GameStop's stock reached $469, briefly making him a billionaire, before the value of his stock prices lowered to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outsider information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
1004175556 2021-02-01T11:39:32Z 127626(-141) 4212(0) 220(0)
1004190304 2021-02-01T13:27:45Z 126050(-1576) 4190(-22) 216(-4) GameStop
    At the end of 2020, there were 69.75 million shares outstanding (or 102 million), 46.89 million shares float, and 68-71.2 million shares shorted.

1004190717 2021-02-01T13:30:21Z 125942(-108) 4190(0) 216(0)
1004192431 2021-02-01T13:41:32Z 125893(-49) 4190(0) 216(0)
1004194800 2021-02-01T13:56:16Z 126092(199) 4204(14) 217(1) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. A surge qualified by some users of r/wallstreetbets as a false flag operation.
1004198335 2021-02-01T14:17:15Z 125893(-199) 4190(-14) 216(-1) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. A surge qualified by some users of r/wallstreetbets as a false flag operation.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
1004224432 2021-02-01T16:43:28Z 126951(1058) 4304(114) 218(2)
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
    Better Markets President and CEO Dennis Kelleher stated “Unfortunately, it should be another ‘flash crash’ moment that wakes people up to their false sense of security that our markets are functioning properly when they’re full of fraud, manipulation and conflicts of interest that benefit the big players and screw the buy-side and the retail players,” advocating for greater Wall Street oversight. Bryan Corbett, president and CEO of the Managed Funds Association, which represents that industry, stated "The hedge fund industry supports greater access to financial markets ... Essential fairness for all investors requires that there be an orderly market with an effective price discovery function. It fosters stability, reduces risk and encourages market confidence.” In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
1004227813 2021-02-01T17:02:56Z 127501(550) 4337(33) 219(1) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight year high. GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double digit percentages.
1004227867 2021-02-01T17:03:18Z 127503(2) 4338(1) 219(0) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight year high. GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double digit percentages.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double digit percentages.
1004228450 2021-02-01T17:06:14Z 126445(-1058) 4224(-114) 217(-2)
    Better Markets President and CEO Dennis Kelleher stated “Unfortunately, it should be another ‘flash crash’ moment that wakes people up to their false sense of security that our markets are functioning properly when they’re full of fraud, manipulation and conflicts of interest that benefit the big players and screw the buy-side and the retail players,” advocating for greater Wall Street oversight. Bryan Corbett, president and CEO of the Managed Funds Association, which represents that industry, stated "The hedge fund industry supports greater access to financial markets ... Essential fairness for all investors requires that there be an orderly market with an effective price discovery function. It fosters stability, reduces risk and encourages market confidence.” In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
1004230045 2021-02-01T17:14:39Z 126183(-262) 4244(20) 217(0)
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!" along with a link to the r/wallstreetbets subreddit ("stonk" is internet slang for "stock"). A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, excluding extended-hours trading, is $483.00 (nearly 190 times the record low of $2.57).
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, excluding extended-hours trading, is $483.00 (nearly 190 times the record low of $2.57).

    Cite error: There are tags or Cite error: There are <ref> tags on this page without content in them (see the help page). templates on this page, but the references will not show without a
    template or
    template (see the help page).

   

1004230197 2021-02-01T17:15:26Z 126445(262) 4224(-20) 217(0)
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, excluding extended-hours trading, is $483.00 (nearly 190 times the record low of $2.57).

    Cite error: There are tags or Cite error: There are <ref> tags on this page without content in them (see the help page). templates on this page, but the references will not show without a
    template or
    template (see the help page).

   
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!" along with a link to the r/wallstreetbets subreddit ("stonk" is internet slang for "stock"). A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, excluding extended-hours trading, is $483.00 (nearly 190 times the record low of $2.57).
1004236835 2021-02-01T17:51:31Z 126430(-15) 4224(0) 217(0)
1004237509 2021-02-01T17:55:13Z 126458(28) 4224(0) 217(0)
1004237903 2021-02-01T17:57:14Z 126480(22) 4224(0) 217(0)
1004238406 2021-02-01T18:00:02Z 126478(-2) 4224(0) 217(0)
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze increased the retailer's stock price by almost 190 times from its record low of $2.57 to nearly $500 per share, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze increased the retailer's stock price by almost 190 times from its record low of $2.57 to over $500 per share, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
1004239117 2021-02-01T18:03:19Z 126490(12) 4224(0) 217(0)
1004240669 2021-02-01T18:10:53Z 127214(724) 4241(17) 219(2) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double digit percentages.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double digit percentages. Some reddit users deny any involvement on the part of wallstreetbets in the increasing price of silver.

1004242300 2021-02-01T18:19:42Z 127216(2) 4241(0) 219(0) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double digit percentages. Some reddit users deny any involvement on the part of wallstreetbets in the increasing price of silver.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double digit percentages. Some reddit users deny any involvement on the part of r/wallstreetbets in the increasing price of silver.
1004245973 2021-02-01T18:39:24Z 127218(2) 4241(0) 219(0)
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze increased the retailer's stock price by almost 190 times from its record low of $2.57 to over $500 per share, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze increased the retailer's stock price by almost 190 times from its record low of $2.57 to nearly $500 per share, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
1004246488 2021-02-01T18:42:22Z 127217(-1) 4241(0) 219(0) Metal futures

1004246616 2021-02-01T18:43:04Z 127220(3) 4241(0) 219(0) Metal futures
1004248939 2021-02-01T18:55:35Z 127249(29) 4241(0) 219(0) r/wallstreetbets
1004249768 2021-02-01T19:00:16Z 125985(-1264) 4205(-36) 217(-2) r/wallstreetbets
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, Keith Gill, known on the site as u/DeepFuckingValue and on other social media accounts as "Roaring Kitty", had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. Gill shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged. Gill stated on January 29 that he "thought this trade would be successful" but "never expected what happened over the last week", adding that he planned to continue his YouTube channel and potentially buy a house.
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, Keith Gill, known on the site as u/DeepFuckingValue and on other social media accounts as "Roaring Kitty", had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. Gill shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged.
1004250558 2021-02-01T19:04:23Z 127249(1264) 4241(36) 219(2)
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, Keith Gill, known on the site as u/DeepFuckingValue and on other social media accounts as "Roaring Kitty", had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. Gill shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged.
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, Keith Gill, known on the site as u/DeepFuckingValue and on other social media accounts as "Roaring Kitty", had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. Gill shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged. Gill stated on January 29 that he "thought this trade would be successful" but "never expected what happened over the last week", adding that he planned to continue his YouTube channel and potentially buy a house.
1004251229 2021-02-01T19:08:16Z 127759(510) 4241(0) 220(1)
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze increased the retailer's stock price by almost 190 times from its record low of $2.57 to nearly $500 per share, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze increased the retailer's stock price by almost 190 times from its record low of $2.57 to over $500 per share, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
1004256851 2021-02-01T19:36:01Z 128181(422) 4248(7) 221(1)
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze increased the retailer's stock price by almost 190 times from its record low of $2.57 to over $500 per share, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!" along with a link to the r/wallstreetbets subreddit ("stonk" is internet slang for "stock"). A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, excluding extended-hours trading, is $483.00 (nearly 190 times the record low of $2.57).
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze increased the retailer's stock price by almost 190 times from its record low of $2.57 to $500 per share, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!" along with a link to the r/wallstreetbets subreddit ("stonk" is internet slang for "stock"). A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In premarket trading hours, it briefly hit $500 the same day.
1004257351 2021-02-01T19:39:02Z 128909(728) 4267(19) 222(1) GameStop
    At the end of 2020, there were 69.75 million shares outstanding, 46.89 million shares float, and 71.2 million shares shorted.

1004258802 2021-02-01T19:46:54Z 128907(-2) 4267(0) 222(0)
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze increased the retailer's stock price by almost 190 times from its record low of $2.57 to $500 per share, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to $500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
1004258975 2021-02-01T19:47:52Z 128961(54) 4267(0) 222(0) Further reading
1004264621 2021-02-01T20:17:39Z 129057(96) 4283(16) 222(0) Hedge funds and short sellers
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. By January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004267551 2021-02-01T20:32:55Z 129016(-41) 4283(0) 222(0) Political figures
1004276096 2021-02-01T21:16:44Z 128878(-138) 4283(0) 222(0)
1004282937 2021-02-01T21:54:47Z 128880(2) 4283(0) 222(0) top
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to $500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of the Internet forum r/wallstreetbets on Reddit.
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on Reddit.
1004284236 2021-02-01T22:01:47Z 129116(236) 4283(0) 222(0)
1004284286 2021-02-01T22:02:01Z 129207(91) 4291(8) 222(0)
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on Reddit.
    Short sellers are exposed to a risk of short squeezing, which occurs when the shorted stock jumps in value, due, for instance, to a sudden piece of favorable news. Short sellers are then forced to buy back the stock they had initially sold, in an effort to keep their losses from mounting. Purchasing the stock to cover their short positions raises the price of the shorted stock, thus triggering more short sellers to cover their positions by buying the stock. This can result in a cascade of stock purchases and an even bigger jump of the share price.
    According to a report by Bloomberg, Andrew Left, an activist short seller and head of Citron Research, had also shorted the stock and claimed to have closed the position as a total loss. In an interview, he claimed that the company had covered the majority of its short positions in the range of $90 per share at a loss of 100%, retaining a small, manageable position. Due to the enormous losses, Left stated that Citron Research would discontinue offering short-sell analysis after 20 years of service, and instead focus on "long side multibagger opportunities for individual investors".
    Following the decision by brokerage firm Robinhood to halt the buying of stocks affected by the short squeeze, users on Reddit and other social media called in question its relationship with Citadel Securities. Bloomberg News had previously reported that 40% of Robinhood's revenue was derived from selling customer orders to market making firms including Citadel Securities and Two Sigma Securities, in a practice known as payment for order flow. The Washington Post reported that Robinhood routed more than half of its customer orders to Citadel, which was its largest market making partner by volume. Citadel Securities is the sister company to Citadel LLC, which along with Point72 Asset Management invested $2.75 billion into Melvin Capital. As Robinhood restricted trading of GameStop shares, thereby limiting the growth of the stock's value, users alleged that Citadel Securities directed Robinhood to do so. Citadel Securities stated that they did not instruct any brokerage to suspend or otherwise limit trading, and Robinhood denied that it had been pressured by Citadel.
    GME Resources, an Australian mining company, saw their shares increase over 50% during intraday trading, closing with a 13.3% increase on January 28. This was speculated to have occurred as a joke or mistake given the identical ticker symbols on different exchanges.
    Amateur traders in Malaysia were inspired by the GameStop short squeeze to target shares for Malaysian latex glove makers on Bursa Malaysia as a countermove against the devaluation of the sector by institutional investors following the lifting of a ban on short selling in the country earlier in January 2021. Top Glove, Hartalega and Supermax respectively recorded increases in shares as high as 15%, 10% and 9.2% during intraday trading on January 29, before closing with increases of 8.5%, 5.4% and 3.7%. The rally call was reportedly organized from r/bursabets, a Malaysian offshoot of r/wallstreetbets named after the Malaysian stock exchange.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10%. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double digit percentages. Some reddit users deny any involvement on the part of r/wallstreetbets in the increasing price of silver.
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on Reddit.
    Short sellers are exposed to a risk of short squeezing, which occurs when the shorted stock jumps in value due, for instance, to a sudden piece of favorable news. Short sellers are then forced to buy back the stock they had initially sold, in an effort to keep their losses from mounting. Purchasing the stock to cover their short positions raises the price of the shorted stock, thus triggering more short sellers to cover their positions by buying the stock. This can result in a cascade of stock purchases and an even bigger jump of the share price.
    According to a report by Bloomberg, Andrew Left, an activist short seller and head of Citron Research, had also shorted the stock and claimed to have closed the position as a total loss. In an interview, he claimed that the company had covered the majority of its short positions in the range of $90 per share at a loss of 100 percent, retaining a small, manageable position. Due to the enormous losses, Left stated that Citron Research would discontinue offering short-sell analysis after 20 years of service, and instead focus on "long side multibagger opportunities for individual investors".
    Following the decision by brokerage firm Robinhood to halt the buying of stocks affected by the short squeeze, users on Reddit and other social media called in question its relationship with Citadel Securities. Bloomberg News had previously reported that 40 percent of Robinhood's revenue was derived from selling customer orders to market-making firms including Citadel Securities and Two Sigma Securities, in a practice known as payment for order flow. The Washington Post reported that Robinhood routed more than half of its customer orders to Citadel, which was its largest market making partner by volume. Citadel Securities is the sister company to Citadel LLC, which along with Point72 Asset Management invested $2.75 billion into Melvin Capital. As Robinhood restricted trading of GameStop shares, thereby limiting the growth of the stock's value, users alleged that Citadel Securities directed Robinhood to do so. Citadel Securities stated that they did not instruct any brokerage to suspend or otherwise limit trading, and Robinhood denied that it had been pressured by Citadel.
    GME Resources, an Australian mining company, saw their shares increase more than 50 percent during intraday trading, closing with a 13.3-percent increase on January 28. This was speculated to have occurred as a joke or mistake given the identical ticker symbols on different exchanges.
    Amateur traders in Malaysia were inspired by the GameStop short squeeze to target shares for Malaysian latex glove makers on Bursa Malaysia as a countermove against the devaluation of the sector by institutional investors following the lifting of a ban on short selling in the country earlier in January 2021. Top Glove, Hartalega and Supermax respectively recorded increases in shares as high as 15 percent, 10 percent and 9.2 percent during intraday trading on January 29, before closing with respective increases of 8.5 percent, 5.4 percent and 3.7 percent. The rally call was reportedly organized from r/bursabets, a Malaysian offshoot of r/wallstreetbets named after the Malaysian stock exchange.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Some Reddit users deny any involvement on the part of r/wallstreetbets in the increasing price of silver.
1004284412 2021-02-01T22:02:42Z 129231(24) 4295(4) 222(0) top
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on Reddit.
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
1004285102 2021-02-01T22:06:26Z 129260(29) 4295(0) 222(0) r/wallstreetbets
1004285587 2021-02-01T22:08:49Z 129283(23) 4295(0) 222(0) Timeline
1004286377 2021-02-01T22:12:59Z 129642(359) 4310(15) 223(1) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Some Reddit users deny any involvement on the part of r/wallstreetbets in the increasing price of silver.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Users on r/wallstreetbets deny involvement in the increasing price of silver, blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
1004287960 2021-02-01T22:21:07Z 129681(39) 4313(3) 223(0)
    Many other heavily shorted securities also saw price increases. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies also increased.
    Many other heavily shorted securities also saw price increases. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures also increased.
1004288152 2021-02-01T22:22:02Z 129725(44) 4333(20) 223(0)
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!" along with a link to the r/wallstreetbets subreddit ("stonk" is internet slang for "stock"). A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In premarket trading hours, it briefly hit $500 the same day.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In premarket trading hours, it briefly hit $500 the same day.

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1004288604 2021-02-01T22:24:09Z 129749(24) 4307(-26) 224(1) See also

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1004288688 2021-02-01T22:24:31Z 129456(-293) 4307(0) 223(-1) Rise in stock purchases
1004288735 2021-02-01T22:24:48Z 129456(0) 4308(1) 223(0)
    In January 2021, a short squeeze of the stock of the American video-game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
1004289332 2021-02-01T22:27:29Z 129483(27) 4308(0) 223(0) Rise in stock purchases
1004290545 2021-02-01T22:32:51Z 130134(651) 4343(35) 225(2) Lawsuits
    Three different federal lawsuits have been filed from Tampa, Florida regarding the incident. In all, at least 25 groups of plaintiffs across 11 states have filed lawsuits against Robinhood relating to their halting of stock purchases.

1004290676 2021-02-01T22:33:22Z 130197(63) 4343(0) 225(0) Timeline
1004295468 2021-02-01T22:59:02Z 130207(10) 4343(0) 225(0) Timeline
1004296047 2021-02-01T23:02:32Z 130237(30) 4343(0) 225(0) See also
1004296152 2021-02-01T23:03:20Z 130252(15) 4343(0) 225(0) See also
1004296403 2021-02-01T23:04:51Z 130242(-10) 4343(0) 225(0)
1004300978 2021-02-01T23:31:58Z 130287(45) 4343(0) 225(0) Further reading
1004302310 2021-02-01T23:39:44Z 130312(25) 4343(0) 225(0)
1004307262 2021-02-02T00:06:32Z 130857(545) 4344(1) 226(1)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to over US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
1004312039 2021-02-02T00:35:04Z 131183(326) 4354(10) 227(1) Hedge funds and short sellers
    As of January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    By January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year and further dropped to 53% by the end of the month. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004312156 2021-02-02T00:35:37Z 131198(15) 4356(2) 227(0) Hedge funds and short sellers
    By January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year and further dropped to 53% by the end of the month. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    By January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year and further dropped to 53% ($4.5 billion) by the end of the month. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004315652 2021-02-02T00:54:04Z 130472(-726) 4337(-19) 226(-1) GameStop
    At the end of 2020, there were 69.75 million shares outstanding, 46.89 million shares float, and 71.2 million shares shorted.

1004316804 2021-02-02T01:00:56Z 130127(-345) 4324(-13) 225(-1) Hedge funds and short sellers
    By January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year and further dropped to 53% ($4.5 billion) by the end of the month. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    By January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004317914 2021-02-02T01:07:16Z 129587(-540) 4324(0) 224(-1)
1004320487 2021-02-02T01:23:54Z 129611(24) 4324(0) 224(0)
1004321086 2021-02-02T01:27:21Z 129443(-168) 4299(-25) 224(0) Short selling and short squeezes
    Short selling is a finance practice in which an investor, known as the short-seller, borrows shares and immediately sells them, hoping to buy them back later ("covering") at a lower price, return the borrowed shares (plus interest) to the lender and profit off the difference. The practice carries an unlimited risk of losses, because there is no inherent limit to how high a stock's price can rise. This is in contrast with taking a long position (simply owning the stock), where the investor's loss is limited to the cost of their initial investment. One way to limit such losses is to use hedging, such as to buy call options at strike prices that are above the current market price.
    On January 22, 2021, approximately 140 percent of GameStop's float (the portion of shares of a corporation that are in the hands of public investors) had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    Short selling is a finance practice in which an investor, known as the short-seller, borrows shares and immediately sells them, hoping to buy them back later ("covering") at a lower price, return the borrowed shares (plus interest) to the lender and profit off the difference. The practice carries an unlimited risk of losses, because there is no inherent limit to how high a stock's price can rise. This is in contrast with taking a long position (simply owning the stock), where the investor's loss is limited to the cost of their initial investment.
    On January 22, 2021, approximately 140 percent of GameStop's public float (the portion of shares of a corporation that are in the hands of public investors) had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
1004321296 2021-02-02T01:28:33Z 129453(10) 4299(0) 224(0) Timeline
1004321342 2021-02-02T01:28:46Z 128901(-552) 4300(1) 223(-1) Rise in stock purchases
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In premarket trading hours, it briefly hit $500 the same day.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In premarket trading hours, it briefly hit over $500 the same day.
1004322141 2021-02-02T01:32:50Z 128405(-496) 4228(-72) 223(0) Rise in stock purchases
    In conjunction with the short squeeze, the resulting increase in options volume triggered a gamma squeeze as a result of market makers needing to buy shares to hedge their increasingly short exposure. Basically, market makers seek to profit via arbitrage, by ensuring the prices of stocks and options are linked, thereby keeping the market efficient. One role of market makers is to write (i.e. create and sell) options to investors seeking to buy them, and buy shares of the stock to maintain delta-hedged position overall, thereby profiting off price discrepancies between the options market and the stock market while remaining agnostic regarding price fluctuations.
    In conjunction with the short squeeze, the resulting increase in options volume triggered a gamma squeeze as a result of market makers needing to buy shares to hedge their increasingly short exposure.
1004323011 2021-02-02T01:37:50Z 128417(12) 4228(0) 223(0) Rise in stock purchases
1004324677 2021-02-02T01:47:39Z 129350(933) 4249(21) 226(3) Investigations
    Vlad Tenev, Robinhood's CEO, was reported to be testifying before the United States House Committee on Financial Services, scheduled for February 18.

1004324863 2021-02-02T01:48:51Z 129350(0) 4249(0) 226(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to over US$500 per share, almost 190 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to over US$500 per share, almost 200 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
1004325384 2021-02-02T01:51:58Z 129475(125) 4249(0) 226(0) Investigations
1004325537 2021-02-02T01:52:52Z 129484(9) 4249(0) 226(0) Investigations
1004326578 2021-02-02T01:59:33Z 129854(370) 4265(16) 227(1) Hedge funds and short sellers
    By January 28, 2021, Melvin Capital, an investment fund shorting GameStop, had lost 30 percent of its value since the start of the year Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53% of its investments.. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004326675 2021-02-02T02:00:07Z 129858(4) 4265(0) 227(0) Hedge funds and short sellers
1004327497 2021-02-02T02:04:35Z 129263(-595) 4231(-34) 226(-1) Hedge funds and short sellers
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53% of its investments.. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. On January 31, The Wall Street Journal reported that Melvin had lost 53 percent of its value, though noted that new investors would sign up the next day, including new and existing clients. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53% of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004328428 2021-02-02T02:10:54Z 129767(504) 4268(37) 227(1) Hedge funds and short sellers
    On February 1, GameStop short interests fell to 39% of free-floating shares, from 114% in mid-January, according to IHS Markit. The data was described by Bloomberg as "an early sign that the short squeeze [...] has progressed"

1004328561 2021-02-02T02:11:53Z 129766(-1) 4267(-1) 227(0) Hedge funds and short sellers
    On February 1, GameStop short interests fell to 39% of free-floating shares, from 114% in mid-January, according to IHS Markit. The data was described by Bloomberg as "an early sign that the short squeeze [...] has progressed"
    On February 1, GameStop short interests fell to 39% of free-floating shares, from 114% in mid-January, according to IHS Markit. The data was described by Bloomberg as "an early sign that the short squeeze [...] has progressed"
1004328671 2021-02-02T02:12:36Z 129781(15) 4267(0) 227(0) Hedge funds and short sellers
1004329296 2021-02-02T02:16:54Z 129977(196) 4267(0) 228(1)
1004331126 2021-02-02T02:29:53Z 130002(25) 4270(3) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to over US$500 per share, almost 200 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to over US$500 per share, almost 200 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
1004332849 2021-02-02T02:43:00Z 130030(28) 4270(0) 228(0)
1004333928 2021-02-02T02:51:19Z 129900(-130) 4270(0) 228(0) Investigations
    Vlad Tenev, Robinhood's CEO, was reported to be testifying before the United States House Committee on Financial Services, scheduled for February 18.
    Vladimir Tenev, Robinhood's CEO, was reported to be testifying before the United States House Committee on Financial Services, scheduled for February 18.
1004334538 2021-02-02T02:56:24Z 129973(73) 4276(6) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds. The short squeeze caused the retailer's stock price to rise to over US$500 per share, almost 200 times its record low of $2.57, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, over 29 times the January low of $17.15, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
1004335030 2021-02-02T02:59:59Z 129985(12) 4276(0) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, over 29 times the January low of $17.15, causing large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, over 29 times the January low of $17.15. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
1004335842 2021-02-02T03:05:17Z 129991(6) 4277(1) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, over 29 times the January low of $17.15. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$483.00 per share, roughly 188 times the 52 week low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
1004336315 2021-02-02T03:09:11Z 129993(2) 4277(0) 228(0)
1004336489 2021-02-02T03:11:03Z 130007(14) 4276(-1) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$483.00 per share, roughly 188 times the 52 week low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$483.00 per share, roughly 188 times the yearly low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
1004336951 2021-02-02T03:14:46Z 130121(114) 4277(1) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$483.00 per share, roughly 188 times the yearly low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In premarket trading hours, it briefly hit over $500 the same day.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock one-year low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In pre-market trading hours, it briefly hit over $500 the same day.
1004337103 2021-02-02T03:15:56Z 130123(2) 4277(0) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock one-year low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock's one-year low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
1004337619 2021-02-02T03:19:53Z 130121(-2) 4277(0) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock's one-year low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock one-year low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
1004337818 2021-02-02T03:21:30Z 130123(2) 4277(0) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock one-year low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock's one-year low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
1004339223 2021-02-02T03:33:09Z 130115(-8) 4277(0) 228(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock's one-year low of $2.57. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused the price to rise further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit.
    On January 28, multiple brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Class-action lawsuits were filed against Robinhood in the U.S. District Courts for the Southern District of New York and the Northern District of Illinois.

    Many other heavily shorted securities also saw price increases. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures also increased.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    On January 28, multiple brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Class-action lawsuits were filed against Robinhood in the U.S. District Courts for the Southern District of New York and the Northern District of Illinois. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.
1004340155 2021-02-02T03:41:01Z 130116(1) 4277(0) 228(0) Halting of stock purchases
    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other exchanges soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.
    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other brokerages soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.
1004341158 2021-02-02T03:47:59Z 130120(4) 4277(0) 228(0) Halting of stock purchases
1004342032 2021-02-02T03:55:16Z 130822(702) 4320(43) 229(1)

    In 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write with Scott Galloway potentially signing on as a script consultant. Noah Cenineo is also planned to star in the film.
1004344220 2021-02-02T04:11:40Z 130827(5) 4321(1) 229(0) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Users on r/wallstreetbets deny involvement in the increasing price of silver, blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Some users on r/wallstreetbets deny involvement in the increasing price of silver, blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
1004345037 2021-02-02T04:17:42Z 130859(32) 4322(1) 229(0) r/wallstreetbets
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, Keith Gill, known on the site as u/DeepFuckingValue and on other social media accounts as "Roaring Kitty", had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. Gill shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged. Gill stated on January 29 that he "thought this trade would be successful" but "never expected what happened over the last week", adding that he planned to continue his YouTube channel and potentially buy a house.
    WallStreetBets (r/wallstreetbets) is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, Keith Gill, known on the site as u/DeepFuckingValue and on other social media accounts as "Roaring Kitty", had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. Gill shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged. Gill stated on January 29 that he "thought this trade would be successful" but "never expected what happened over the last week", adding that he planned to continue his YouTube channel and potentially buy a house.
1004345432 2021-02-02T04:21:08Z 130812(-47) 4321(-1) 229(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of WallStreetBets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    WallStreetBets (r/wallstreetbets) is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, Keith Gill, known on the site as u/DeepFuckingValue and on other social media accounts as "Roaring Kitty", had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. Gill shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged. Gill stated on January 29 that he "thought this trade would be successful" but "never expected what happened over the last week", adding that he planned to continue his YouTube channel and potentially buy a house.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, Keith Gill, known on the site as u/DeepFuckingValue and on other social media accounts as "Roaring Kitty", had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. Gill shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged. Gill stated on January 29 that he "thought this trade would be successful" but "never expected what happened over the last week", adding that he planned to continue his YouTube channel and potentially buy a house.
1004345890 2021-02-02T04:24:44Z 130750(-62) 4311(-10) 229(0) In popular culture
    In 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write with Scott Galloway potentially signing on as a script consultant. Noah Cenineo is also planned to star in the film.
    In 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film.
1004346475 2021-02-02T04:29:30Z 131312(562) 4338(27) 230(1) In popular culture
    In 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film.
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer acquired the rights to make a movie of Ben Mezrich's upcoming book The Antisocial Network, which would chronicle the events of the short squeeze.
1004346620 2021-02-02T04:30:45Z 131308(-4) 4338(0) 230(0) Investigations
1004346914 2021-02-02T04:32:44Z 131304(-4) 4338(0) 230(0) Halting of stock purchases
1004347211 2021-02-02T04:34:36Z 131301(-3) 4338(0) 230(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500.00 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
1004347879 2021-02-02T04:40:50Z 131329(28) 4337(-1) 230(0) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver took gains of 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Some users on r/wallstreetbets deny involvement in the increasing price of silver, blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver rose 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Some users on r/wallstreetbets deny involvement in the increasing price of silver, instead blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
1004348233 2021-02-02T04:44:01Z 131313(-16) 4337(0) 230(0)
1004348644 2021-02-02T04:47:34Z 131327(14) 4337(0) 230(0) Short selling and short squeezes
1004348715 2021-02-02T04:48:07Z 131551(224) 4341(4) 230(0) Cryptocurrencies
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800%. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, surged to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users. Robinhood sparked controversy by banning trading on Dogecoin. Cryptocurrency trading service Coinbase also faced multiple connectivity issues.
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, surged to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?] Cryptocurrency trading service Coinbase also faced multiple connectivity issues.
1004348804 2021-02-02T04:49:05Z 131119(-432) 4332(-9) 229(-1) Cryptocurrencies
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, surged to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?] Cryptocurrency trading service Coinbase also faced multiple connectivity issues.
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, surged to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?]
1004349945 2021-02-02T04:59:06Z 131149(30) 4333(1) 229(0) Hedge funds and short sellers
    Losses on short positions in U.S. firms topped $70 billion. Ortex data showed that as of January 27, there were loss-making short positions on more than 5,000 U.S. firms.
    Losses on short positions in U.S. firms topped $70 billion. Ortex data[clarification needed] showed that as of January 27, there were loss-making short positions on more than 5,000 U.S. firms.
1004350279 2021-02-02T05:02:12Z 131173(24) 4333(0) 229(0) Retaliation and protests
1004350447 2021-02-02T05:03:34Z 131334(161) 4340(7) 229(0) Hedge funds and short sellers
    On February 1, GameStop short interests fell to 39% of free-floating shares, from 114% in mid-January, according to IHS Markit. The data was described by Bloomberg as "an early sign that the short squeeze [...] has progressed"
    On February 1, GameStop short interests fell to 39 percent of free-floating shares, from 114 percent in mid-January, according to IHS Markit.[clarification needed] The data was described by Bloomberg News as "potentially an early sign that the short squeeze that propelled GameStop... has progressed."
1004350814 2021-02-02T05:06:57Z 131363(29) 4340(0) 229(0) Alleged conflict of interest between Robinhood and Citadel
1004351213 2021-02-02T05:10:04Z 131339(-24) 4340(0) 229(0) Rise in stock purchases
1004351678 2021-02-02T05:14:33Z 131380(41) 4340(0) 229(0)
1004351850 2021-02-02T05:16:05Z 131373(-7) 4340(0) 229(0) In popular culture
1004352085 2021-02-02T05:17:53Z 131377(4) 4340(0) 229(0) r/wallstreetbets
1004352169 2021-02-02T05:18:34Z 131365(-12) 4340(0) 229(0)
1004352207 2021-02-02T05:18:59Z 131372(7) 4340(0) 229(0) Movie plans
1004352390 2021-02-02T05:20:38Z 131376(4) 4340(0) 229(0) r/wallstreetbets
1004353212 2021-02-02T05:28:29Z 131387(11) 4341(1) 229(0) In popular culture
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer acquired the rights to make a movie of Ben Mezrich's upcoming book The Antisocial Network, which would chronicle the events of the short squeeze.
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make a movie of Ben Mezrich's proposed book, The Antisocial Network, aimed at chronicling the recent events on Wall Street.
1004353441 2021-02-02T05:30:43Z 131403(16) 4343(2) 229(0) In popular culture
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make a movie of Ben Mezrich's proposed book, The Antisocial Network, aimed at chronicling the recent events on Wall Street.
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film.

    Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal for The Antisocial Network, aimed at chronicling the recent events on Wall Street.
1004353684 2021-02-02T05:33:09Z 131396(-7) 4343(0) 229(0) Short selling and short squeezes
1004353785 2021-02-02T05:33:59Z 131313(-83) 4333(-10) 229(0) r/wallstreetbets
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, Keith Gill, known on the site as u/DeepFuckingValue and on other social media accounts as "Roaring Kitty", had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. Gill shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged. Gill stated on January 29 that he "thought this trade would be successful" but "never expected what happened over the last week", adding that he planned to continue his YouTube channel and potentially buy a house.
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, DeepFuckingValue, (known on YouTube as "Roaring Kitty") had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. DeepFuckingValue, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged; he stated on January 29 that he "thought this trade would be successful" but "never expected what happened over the last week", adding that he planned to continue his YouTube channel and potentially buy a house.
1004354563 2021-02-02T05:41:15Z 131337(24) 4333(0) 229(0)
1004356724 2021-02-02T06:01:42Z 131313(-24) 4333(0) 229(0)
1004356932 2021-02-02T06:03:22Z 131303(-10) 4333(0) 229(0) Alleged conflict of interest between Robinhood and Citadel
1004357022 2021-02-02T06:04:05Z 131465(162) 4357(24) 229(0) r/wallstreetbets
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the squeeze, there had been interest in GameStop (ticker symbol: GME) on r/wallstreetbets. One user, DeepFuckingValue, (known on YouTube as "Roaring Kitty") had purchased around $53,000 in call options on GME in 2019 and saw his position rise to a value of $48 million by January 27, 2021. DeepFuckingValue, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared his investment on r/wallstreetbets and provided regular updates on its performance, including the times when the investment had plunged; he stated on January 29 that he "thought this trade would be successful" but "never expected what happened over the last week", adding that he planned to continue his YouTube channel and potentially buy a house.
    On January 27, Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/wallstreetbets was the fastest-growing subreddit, as the community surged by more than 1.5 million users to 6 million members on January 29.
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the big squeeze, there had been interest in GameStop (ticker symbol: GME) in the community. One user, DeepFuckingValue (known on YouTube as "Roaring Kitty"), had purchased around $53,000 in call options on GME in 2019; he saw his position rise to a value of $48 million by January 27, 2021. This user, revealed to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit and provided regular updates on its performance, including times when the investment had plunged; he stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    On January 27, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/wallstreetbets was the fastest-growing subreddit the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
1004358026 2021-02-02T06:13:01Z 131498(33) 4357(0) 229(0) r/wallstreetbets
1004358482 2021-02-02T06:17:02Z 131509(11) 4358(1) 229(0) r/wallstreetbets
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the big squeeze, there had been interest in GameStop (ticker symbol: GME) in the community. One user, DeepFuckingValue (known on YouTube as "Roaring Kitty"), had purchased around $53,000 in call options on GME in 2019; he saw his position rise to a value of $48 million by January 27, 2021. This user, revealed to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit and provided regular updates on its performance, including times when the investment had plunged; he stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the big squeeze, there had been interest in GameStop (ticker symbol: GME) in the community. One user, DeepFuckingValue (known on YouTube as Roaring Kitty), had purchased around $53,000 in call options on GameStop's stock in 2019; he saw his position rise to a value of $48 million by January 27, 2021. This user, revealed to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit and provided regular updates on its performance, including times when the investment had plunged; he stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004359217 2021-02-02T06:22:54Z 131530(21) 4361(3) 229(0) r/wallstreetbets
    r/wallstreetbets is a community, or subreddit, on the social news website Reddit. The subreddit is known for high-risk stock transactions. Even before the big squeeze, there had been interest in GameStop (ticker symbol: GME) in the community. One user, DeepFuckingValue (known on YouTube as Roaring Kitty), had purchased around $53,000 in call options on GameStop's stock in 2019; he saw his position rise to a value of $48 million by January 27, 2021. This user, revealed to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit and provided regular updates on its performance, including times when the investment had plunged; he stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/wallstreetbets is a community on Reddit social news website that is known for its discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME) in the community. One user, DeepFuckingValue (known on YouTube and Twitter as Roaring Kitty), had purchased around $53,000 in call options on GameStop's stock in 2019; he saw his position rise to a value of $48 million by January 27, 2021. This user, revealed to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit and provided regular updates on its performance, including times when the investment had plunged; he stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004359663 2021-02-02T06:26:30Z 131546(16) 4362(1) 229(0) r/wallstreetbets
    The subreddit r/wallstreetbets is a community on Reddit social news website that is known for its discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME) in the community. One user, DeepFuckingValue (known on YouTube and Twitter as Roaring Kitty), had purchased around $53,000 in call options on GameStop's stock in 2019; he saw his position rise to a value of $48 million by January 27, 2021. This user, revealed to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit and provided regular updates on its performance, including times when the investment had plunged; he stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). One user, DeepFuckingValue (known on YouTube and Twitter as Roaring Kitty), had purchased around $53,000 in call options on GameStop's stock in 2019 (he saw his position rise to a value of $48 million by January 27, 2021). This user, revealed by Reuters to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit and provided regular updates on its performance, including times when the investment had plunged; he stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004362086 2021-02-02T06:48:24Z 131615(69) 4366(4) 229(0) r/wallstreetbets
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). One user, DeepFuckingValue (known on YouTube and Twitter as Roaring Kitty), had purchased around $53,000 in call options on GameStop's stock in 2019 (he saw his position rise to a value of $48 million by January 27, 2021). This user, revealed by Reuters to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit and provided regular updates on its performance, including times when the investment had plunged; he stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021). DeepFuckingValue was revealed by Reuters to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts. He began investing in GameStop during the summer of 2019, after believing the stock to be undervalued, and shared information regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004363072 2021-02-02T06:57:37Z 131672(57) 4369(3) 229(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021). DeepFuckingValue was revealed by Reuters to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts. He began investing in GameStop during the summer of 2019, after believing the stock to be undervalued, and shared information regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    On January 27, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/wallstreetbets was the fastest-growing subreddit – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/WallStreetBets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    The subreddit WallStreetBets (r/wallstreetbets) is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021). DeepFuckingValue was revealed by Reuters to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts. He began investing in GameStop during the summer of 2019, after believing the stock to be undervalued, and shared information regarding his investment on the subreddit WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    On January 27, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. WallStreetBets was the fastest-growing subreddit – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
1004374131 2021-02-02T08:40:28Z 131663(-9) 4368(-1) 229(0) WallStreetBets
    The subreddit WallStreetBets (r/wallstreetbets) is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021). DeepFuckingValue was revealed by Reuters to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts. He began investing in GameStop during the summer of 2019, after believing the stock to be undervalued, and shared information regarding his investment on the subreddit WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    On January 27, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. WallStreetBets was the fastest-growing subreddit – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021). DeepFuckingValue was revealed by Reuters to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts. He began investing in GameStop during the summer of 2019, after believing the stock to be undervalued, and shared information regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    On January 27, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/WallStreetBets was the fastest-growing subreddit – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
1004377640 2021-02-02T09:12:21Z 131663(0) 4368(0) 229(0)
    Due to the COVID-19 pandemic, consumer spending in general was drastically lower than normal. There was also more money in the hands of investors as a result of historically low interest rates and an inability to spend their money elsewhere. Other suggested factors included a culture of taking massive gambles on the stock market in the hopes of making money quickly, anger of some investors towards Wall Street hedge funds for their role in the financial crisis of 2007 and 2008, or the general democratization of the stock market coupled with the ability of retail traders to communicate instantaneously through social media.



    Due to the COVID-19 pandemic, consumer spending in general was drastically lower than normal. There was also more money in the hands of investors as a result of historically low interest rates and an inability to spend their money elsewhere. Other suggested factors included a culture of taking massive gambles on the stock market in the hopes of making money quickly, anger of some investors towards Wall Street hedge funds for their role in the financial crisis of 2007 and 2008, or the general democratization of the stock market coupled with the ability of retail traders to communicate instantaneously through social media.
1004377759 2021-02-02T09:13:28Z 131662(-1) 4368(0) 229(0) GameStop
1004377964 2021-02-02T09:15:20Z 131663(1) 4368(0) 229(0) Background

    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.

1004390865 2021-02-02T10:57:58Z 131641(-22) 4364(-4) 229(0) r/WallStreetBets
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021). DeepFuckingValue was revealed by Reuters to be a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts. He began investing in GameStop during the summer of 2019, after believing the stock to be undervalued, and shared information regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021). DeepFuckingValue, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004391386 2021-02-02T11:02:11Z 131621(-20) 4364(0) 228(-1) r/WallStreetBets
1004392499 2021-02-02T11:11:23Z 131620(-1) 4364(0) 228(0) r/WallStreetBets
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021). DeepFuckingValue, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021. DeepFuckingValue, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004394082 2021-02-02T11:23:34Z 131618(-2) 4364(0) 228(0) r/WallStreetBets
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue (and known as Roaring Kitty on YouTube and Twitter), purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021. DeepFuckingValue, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue and known as Roaring Kitty on YouTube and Twitter, purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021. DeepFuckingValue, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004394264 2021-02-02T11:25:00Z 131598(-20) 4364(0) 227(-1) r/WallStreetBets
1004399696 2021-02-02T12:05:44Z 132077(479) 4377(13) 229(2) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well. On January 28 and 29, the price of silver rose 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Some users on r/wallstreetbets deny involvement in the increasing price of silver, instead blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
    Following the stock market surge, futures for silver began to rapidly increase as well, although later news reports clarified that it was unclear who was behind the rise. On January 28 and 29, the price of silver rose 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Users on r/wallstreetbets deny involvement in the increasing price of silver, instead blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
1004404768 2021-02-02T12:43:48Z 132074(-3) 4380(3) 229(0) Impact on involved entities
    Losses on short positions in U.S. firms topped $70 billion. Ortex data[clarification needed] showed that as of January 27, there were loss-making short positions on more than 5,000 U.S. firms.
    Losses on short positions in U.S. firms topped $70 billion. Data from equity analytics firm Ortex showed that as of January 27, there were loss-making short positions on more than 5,000 U.S. firms.
1004405572 2021-02-02T12:49:32Z 132063(-11) 4379(-1) 229(0) Hedge funds and short sellers
    On February 1, GameStop short interests fell to 39 percent of free-floating shares, from 114 percent in mid-January, according to IHS Markit.[clarification needed] The data was described by Bloomberg News as "potentially an early sign that the short squeeze that propelled GameStop... has progressed."
    On February 1, GameStop short interests fell to 39 percent of free-floating shares, from 114 percent in mid-January, according to IHS Markit. The data was described by Bloomberg News as "potentially an early sign that the short squeeze that propelled GameStop... has progressed."
1004416151 2021-02-02T13:59:41Z 132067(4) 4378(-1) 229(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (ticker symbol: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/WallStreetBets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME, FWB: GS2C) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/WallStreetBets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
1004417380 2021-02-02T14:07:03Z 132053(-14) 4377(-1) 229(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME, FWB: GS2C) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/WallStreetBets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/WallStreetBets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
1004434369 2021-02-02T15:51:18Z 131751(-302) 4377(0) 228(-1) Political figures
1004434715 2021-02-02T15:53:30Z 131541(-210) 4373(-4) 227(-1) Political figures
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, including Representative Alexandria Ocasio-Cortez (D-NY), Senator Ted Cruz (R-TX), Representative Rashida Tlaib (D-MI), Representative Ted Lieu (D-CA), Representative Marjorie Taylor Greene (R-GA), CNN anchor Jake Tapper, Fox Business host Charles Payne, conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr. Some lawmakers, such as Ocasio-Cortez, Cruz, and Representative Ro Khanna (D-CA) also expressed frustration at Robinhood and others' decisions to close individual trading of GameStop, among other stocks.
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, including Representative Alexandria Ocasio-Cortez (D-NY), Senator Ted Cruz (R-TX), Representative Rashida Tlaib (D-MI), Representative Ted Lieu (D-CA), Representative Marjorie Taylor Greene (R-GA), Fox Business host Charles Payne, conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr. Some lawmakers, such as Ocasio-Cortez, Cruz, and Representative Ro Khanna (D-CA) also expressed frustration at Robinhood and others' decisions to close individual trading of GameStop, among other stocks.
1004435924 2021-02-02T16:01:07Z 131400(-141) 4360(-13) 227(0) Political figures
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, including Representative Alexandria Ocasio-Cortez (D-NY), Senator Ted Cruz (R-TX), Representative Rashida Tlaib (D-MI), Representative Ted Lieu (D-CA), Representative Marjorie Taylor Greene (R-GA), Fox Business host Charles Payne, conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr. Some lawmakers, such as Ocasio-Cortez, Cruz, and Representative Ro Khanna (D-CA) also expressed frustration at Robinhood and others' decisions to close individual trading of GameStop, among other stocks.
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz (R-TX), Representatives Alexandria Ocasio-Cortez (D-NY), Rashida Tlaib (D-MI), Ted Lieu (D-CA), Marjorie Taylor Greene (R-GA) and Ro Khanna (D-CA), Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
1004436096 2021-02-02T16:01:59Z 131418(18) 4360(0) 227(0)
1004440002 2021-02-02T16:24:48Z 131583(165) 4385(25) 227(0) In popular culture

    The song ’We Like The Stock!’ by the artist ahjteam, influenced by the GameStop short events and Reddit wallstreetbets memes, was released on February 1, 2021.
1004448707 2021-02-02T17:12:26Z 133300(1717) 4444(59) 231(4) Public figures
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors. Similar sentiments condemning the short squeeze as a "fraud" organized by a "flash mob", emphasizing the need for market stability and importance of short sellers, and calling for an S.E.C investigation were expressed by Better Markets President and CEO Dennis Kelleher, Bryan Corbett, president and CEO of the Managed Funds Association, as well as the Alternative Investment Management Association.
1004449695 2021-02-02T17:18:39Z 133135(-165) 4419(-25) 231(0) In popular culture

    The song ’We Like The Stock!’ by the artist ahjteam, influenced by the GameStop short events and Reddit wallstreetbets memes, was released on February 1, 2021.
1004451359 2021-02-02T17:29:29Z 134809(1674) 4498(79) 234(3) Public figures
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors. Similar sentiments condemning the short squeeze as a "fraud" organized by a "flash mob", emphasizing the need for market stability and importance of short sellers, and calling for an S.E.C investigation were expressed by Better Markets President and CEO Dennis Kelleher, Bryan Corbett, president and CEO of the Managed Funds Association, as well as the Alternative Investment Management Association.
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors. Similar sentiments condemning the short squeeze as a "fraud" organized by a "flash mob", emphasizing the need for market stability and importance of short sellers, and calling for an S.E.C investigation were expressed by Better Markets President and CEO Dennis Kelleher, Bryan Corbett, president and CEO of the Managed Funds Association, as well as the Alternative Investment Management Association.

    Former S.E.C. Commissioner Laura Unger, nominated by Bill Clinton, likened the short squeeze and the stock market situation to the mob that on January 6 stormed the United States Capitol, and called for the SEC and Federal Communications Commission to investigate the origins of the "market manipulation" and review whether they could monitor and regulate conversations on public chat forums. Columbia Law School Prof. John C. Coffee Jr. likewise stated that retail investors had "revolted and stormed the Bastille."
1004452742 2021-02-02T17:37:22Z 134848(39) 4499(1) 234(0) r/WallStreetBets
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username DeepFuckingValue and known as Roaring Kitty on YouTube and Twitter, purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021. DeepFuckingValue, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004453057 2021-02-02T17:38:51Z 134869(21) 4499(0) 234(0) Investigations
1004456021 2021-02-02T17:55:44Z 134583(-286) 4472(-27) 234(0)
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). DeepFuckingValue, a r/wsb poster known on YouTube and Twitter as "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021; he had begun investing in GameStop during the summer of 2019, believing the stock to be undervalued at that time. His posts on the subreddit provided regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29 that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004458850 2021-02-02T18:12:07Z 134562(-21) 4472(0) 234(0) r/WallStreetBets
1004462589 2021-02-02T18:33:32Z 134562(0) 4472(0) 234(0) Online discussion
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). DeepFuckingValue, a r/wsb poster known on YouTube and Twitter as "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019. He saw his position rise to a value of $48 million by January 27, 2021; he had begun investing in GameStop during the summer of 2019, believing the stock to be undervalued at that time. His posts on the subreddit provided regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29 that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). DeepFuckingValue, a r/wsb poster known on YouTube and Twitter as "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. He had begun investing in GameStop during the summer of 2019, believing the stock to be undervalued at that time. His posts on the subreddit provided regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29 that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004463121 2021-02-02T18:36:20Z 134578(16) 4473(1) 234(0) Online discussion
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). DeepFuckingValue, a r/wsb poster known on YouTube and Twitter as "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. He had begun investing in GameStop during the summer of 2019, believing the stock to be undervalued at that time. His posts on the subreddit provided regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29 that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). DeepFuckingValue, a poster on r/WallStreetBets (known on YouTube and Twitter as "Roaring Kitty"), purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. He had begun investing in GameStop during the summer of 2019, believing the stock to be undervalued at that time. His posts on the subreddit provided regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29 that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004463484 2021-02-02T18:38:24Z 134650(72) 4481(8) 234(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/WallStreetBets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/WallStreetBets, an Internet forum on the social news website Reddit, and especially a financial advisor known as "DeepFuckingValue". At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
1004473936 2021-02-02T19:38:41Z 134685(35) 4484(3) 234(0) Online discussion
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). DeepFuckingValue, a poster on r/WallStreetBets (known on YouTube and Twitter as "Roaring Kitty"), purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. He had begun investing in GameStop during the summer of 2019, believing the stock to be undervalued at that time. His posts on the subreddit provided regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29 that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. He had begun investing in GameStop during the summer of 2019, believing the stock to be undervalued at that time. His posts on the subreddit provided regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29 that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004474358 2021-02-02T19:41:03Z 134920(235) 4507(23) 234(0) Online discussion
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. He had begun investing in GameStop during the summer of 2019, believing the stock to be undervalued at that time. His posts on the subreddit provided regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29 that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
1004475660 2021-02-02T19:48:33Z 134921(1) 4507(0) 234(0) Lawsuits
    Three different federal lawsuits have been filed from Tampa, Florida regarding the incident. In all, at least 25 groups of plaintiffs across 11 states have filed lawsuits against Robinhood relating to their halting of stock purchases.
    Three different federal lawsuits have been filed from Tampa, Florida, regarding the incident. In all, at least 25 groups of plaintiffs across 11 states have filed lawsuits against Robinhood relating to their halting of stock purchases.
1004476006 2021-02-02T19:50:34Z 134792(-129) 4492(-15) 233(-1) Lawsuits
    Three different federal lawsuits have been filed from Tampa, Florida, regarding the incident. In all, at least 25 groups of plaintiffs across 11 states have filed lawsuits against Robinhood relating to their halting of stock purchases.
    At least 25 groups of plaintiffs across 11 states have filed lawsuits against Robinhood relating to their halting of stock purchases.
1004477039 2021-02-02T19:56:05Z 134797(5) 4492(0) 233(0)
1004477578 2021-02-02T19:59:09Z 134801(4) 4492(0) 233(0) Rise in stock purchases
1004492884 2021-02-02T21:39:44Z 134806(5) 4492(0) 233(0) Reactions
1004493316 2021-02-02T21:42:33Z 134772(-34) 4492(0) 233(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/WallStreetBets, an Internet forum on the social news website Reddit, and especially a financial advisor known as "DeepFuckingValue". At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    The subreddit r/WallStreetBets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/WallStreetBets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    On January 27, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/WallStreetBets was the fastest-growing subreddit – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, and especially a financial advisor known as "DeepFuckingValue". At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    On January 27, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/wallstreetbets was the fastest-growing subreddit – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
1004493636 2021-02-02T21:44:31Z 134700(-72) 4484(-8) 233(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, and especially a financial advisor known as "DeepFuckingValue". At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
1004494498 2021-02-02T21:49:44Z 134907(207) 4519(35) 233(0)
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times.
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares.
1004495679 2021-02-02T21:57:08Z 136027(1120) 4609(90) 235(2) Timeline
    Due to the numerous restrictions brokerage firms placed on buying stock, GameStop stock fell considerably in February. More than 35 million GameStop shares no longer shorted, leaving 27.1 million remaining as of February 2. Both fundamental and momentum short sellers have found opportunities and price exit points to trim their positions and exit the space to reduce losses. With the artificial inflation of GameStop in decline and the prospect of fiscal stimulus nearing, financial and industrial companies in the S&P 500 rose on February 2, citing market stability as a factor.

1004496762 2021-02-02T22:04:14Z 136090(63) 4609(0) 235(0) Timeline
1004496901 2021-02-02T22:05:07Z 136063(-27) 4606(-3) 235(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
1004497399 2021-02-02T22:08:41Z 136090(27) 4609(3) 235(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
1004498396 2021-02-02T22:15:00Z 136396(306) 4609(0) 235(0) Decline and selling of stock purchases
1004501227 2021-02-02T22:32:57Z 136432(36) 4609(0) 235(0) Decline and selling of stock purchases
1004501397 2021-02-02T22:34:05Z 134970(-1462) 4519(-90) 233(-2) Decline and selling of stock purchases
    Due to the numerous restrictions brokerage firms placed on buying stock, GameStop stock fell considerably in February. More than 35 million GameStop shares no longer shorted, leaving 27.1 million remaining as of February 2. Both fundamental and momentum short sellers have found opportunities and price exit points to trim their positions and exit the space to reduce losses. With the artificial inflation of GameStop in decline and the prospect of fiscal stimulus nearing, financial and industrial companies in the S&P 500 rose on February 2, citing market stability as a factor.

1004501752 2021-02-02T22:35:57Z 134965(-5) 4519(0) 233(0) Public figures
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors. Similar sentiments condemning the short squeeze as a "fraud" organized by a "flash mob", emphasizing the need for market stability and importance of short sellers, and calling for an S.E.C investigation were expressed by Better Markets President and CEO Dennis Kelleher, Bryan Corbett, president and CEO of the Managed Funds Association, as well as the Alternative Investment Management Association.
    Former S.E.C. Commissioner Laura Unger, nominated by Bill Clinton, likened the short squeeze and the stock market situation to the mob that on January 6 stormed the United States Capitol, and called for the SEC and Federal Communications Commission to investigate the origins of the "market manipulation" and review whether they could monitor and regulate conversations on public chat forums. Columbia Law School Prof. John C. Coffee Jr. likewise stated that retail investors had "revolted and stormed the Bastille."
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors. Similar sentiments condemning the short squeeze as a "fraud" organized by a "flash mob", emphasizing the need for market stability and importance of short sellers, and calling for an SEC investigation were expressed by Better Markets President and CEO Dennis Kelleher, Bryan Corbett, president and CEO of the Managed Funds Association, as well as the Alternative Investment Management Association.
    Former SEC Commissioner Laura Unger, nominated by Bill Clinton, likened the short squeeze and the stock market situation to the mob that on January 6 stormed the United States Capitol, and called for the SEC and Federal Communications Commission to investigate the origins of the "market manipulation" and review whether they could monitor and regulate conversations on public chat forums. Columbia Law School Prof. John C. Coffee Jr. likewise stated that retail investors had "revolted and stormed the Bastille."
1004503600 2021-02-02T22:46:04Z 134944(-21) 4519(0) 233(0) Online discussion
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty, and potentially buy a house.
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
1004504197 2021-02-02T22:49:39Z 135021(77) 4521(2) 233(0) Reactions
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz (R-TX), Representatives Alexandria Ocasio-Cortez (D-NY), Rashida Tlaib (D-MI), Ted Lieu (D-CA), Marjorie Taylor Greene (R-GA) and Ro Khanna (D-CA), Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz (R-TX), Representatives Marjorie Taylor Greene (R-GA),[citation needed] Ro Khanna (D-CA),[citation needed] Ted Lieu (D-CA), Alexandria Ocasio-Cortez (D-NY), and Rashida Tlaib (D-MI), Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
1004504932 2021-02-02T22:54:31Z 136126(1105) 4601(80) 235(2) Halting of stock purchases
    On February 1 and February 2, the GameStop stock price declined substantially, losing more than 80% of its value from its peak price recorded during the previous week. Gamestop shares lost 60% of their value on February 2, closing below $100 for the first time since the beginning of the short squeeze. Other assets affected by the short squeeze, such as AMC shares and Blackberry share, also declined in value. Reports estimated that $27 billion in market value had been erased.

1004505211 2021-02-02T22:56:36Z 136973(847) 4628(27) 237(2) Public figures
    Several celebrities and influencers also criticized Robinhood. Actor and rapper Ja Rule, who had used Robinhood since 2014, said what the company did was "a fucking CRIME" and called the situation "an uprising". Comedian and television host Jon Stewart, after joining Twitter, expressed support for the Reddit traders in his first tweet, stating "they're joining a party Wall Street insiders have been enjoying for years". YouTuber Philip DeFranco announced he would be dropping his partnership with Robinhood, saying "Robinhood is never getting a fucking spot on my show again regardless of the offer." Barstool Sports founder David Portnoy also criticized Robinhood for its lack of "free trading". More generally, it was recognized that Wall Street was now subject to the same populist vigor (afforded by Internet connectivity) as the entertainment industry, politics, and so on.
    Several celebrities and influencers also criticized Robinhood. Actor and rapper Ja Rule, who had used Robinhood since 2014, said what the company did was "a fucking CRIME" and called the situation "an uprising". Comedian and television host Jon Stewart, after joining Twitter, expressed support for the Reddit traders in his first tweet, stating "they're joining a party Wall Street insiders have been enjoying for years". Late night host Jimmy Kimmel criticized Stewart for his tweet, sarcastically asking him "RealDonaldTrump? Is that you?"; Kimmel later called the Redditors "Russian disruptors" on his show. YouTuber Philip DeFranco announced he would be dropping his partnership with Robinhood, saying "Robinhood is never getting a fucking spot on my show again regardless of the offer." Barstool Sports founder David Portnoy also criticized Robinhood for its lack of "free trading". More generally, it was recognized that Wall Street was now subject to the same populist vigor (afforded by Internet connectivity) as the entertainment industry, politics, and so on.
1004505248 2021-02-02T22:56:57Z 137018(45) 4628(0) 237(0) Decline in value
1004505549 2021-02-02T22:59:02Z 137176(158) 4630(2) 237(0) Public figures
    Several celebrities and influencers also criticized Robinhood. Actor and rapper Ja Rule, who had used Robinhood since 2014, said what the company did was "a fucking CRIME" and called the situation "an uprising". Comedian and television host Jon Stewart, after joining Twitter, expressed support for the Reddit traders in his first tweet, stating "they're joining a party Wall Street insiders have been enjoying for years". Late night host Jimmy Kimmel criticized Stewart for his tweet, sarcastically asking him "RealDonaldTrump? Is that you?"; Kimmel later called the Redditors "Russian disruptors" on his show. YouTuber Philip DeFranco announced he would be dropping his partnership with Robinhood, saying "Robinhood is never getting a fucking spot on my show again regardless of the offer." Barstool Sports founder David Portnoy also criticized Robinhood for its lack of "free trading". More generally, it was recognized that Wall Street was now subject to the same populist vigor (afforded by Internet connectivity) as the entertainment industry, politics, and so on.
    Several celebrities and influencers also criticized Robinhood. Actor and rapper Ja Rule, who had used Robinhood since 2014, said what the company did was "a fucking CRIME" and called the situation "an uprising". Comedian and television host Jon Stewart, after joining Twitter, expressed support for the Reddit traders in his first tweet, stating "they're joining a party Wall Street insiders have been enjoying for years". Late night host Jimmy Kimmel criticized Stewart for his tweet, sarcastically asking him "RealDonaldTrump? Is that you?"; Kimmel later called the Redditors "Russian disruptors" on his show. YouTuber Philip DeFranco announced he would be dropping his partnership with Robinhood, saying "Robinhood is never getting a fucking spot on my show again regardless of the offer." Barstool Sports founder David Portnoy also criticized Robinhood for its lack of "free trading". More generally, it was recognized that Wall Street was now subject to the same populist vigor (afforded by Internet connectivity) as the entertainment industry, politics, and so on.[additional citation(s) needed]
1004506123 2021-02-02T23:02:36Z 137174(-2) 4630(0) 237(0) Decline in value
    On February 1 and February 2, the GameStop stock price declined substantially, losing more than 80% of its value from its peak price recorded during the previous week. Gamestop shares lost 60% of their value on February 2, closing below $100 for the first time since the beginning of the short squeeze. Other assets affected by the short squeeze, such as AMC shares and Blackberry share, also declined in value. Reports estimated that $27 billion in market value had been erased.
    On February 1 and February 2, the GameStop stock price declined substantially, losing more than 80 percent of its value from its peak price recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since the beginning of the short squeeze. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined in value. Reports estimated that $27 billion in market value had been erased.
1004506202 2021-02-02T23:03:06Z 137170(-4) 4630(0) 237(0) Hedge funds and short sellers
1004506712 2021-02-02T23:06:54Z 137146(-24) 4626(-4) 237(0)
    On February 1 and February 2, the GameStop stock price declined substantially, losing more than 80 percent of its value from its peak price recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since the beginning of the short squeeze. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined in value. Reports estimated that $27 billion in market value had been erased.
    On February 1 and February 2, the GameStop stock price declined substantially, losing more than 80 percent of its value from its peak price recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined in value. Reports estimated that $27 billion in market value had been erased.
1004507235 2021-02-02T23:10:32Z 137153(7) 4626(0) 237(0) Rise in stock purchases
1004507679 2021-02-02T23:13:27Z 137617(464) 4661(35) 238(1) Decline in value
    On February 1 and February 2, the GameStop stock price declined substantially, losing more than 80 percent of its value from its peak price recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined in value. Reports estimated that $27 billion in market value had been erased.
    On February 1 and February 2, the GameStop stock price declined substantially, losing more than 80 percent of its value from its peak price recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC, Blackberry, and Nokia shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been erased. This was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.
1004507937 2021-02-02T23:15:27Z 137945(328) 4670(9) 239(1) Decline in value
    Silver prices and silver mining also fell sharply since February.

1004508242 2021-02-02T23:17:48Z 138301(356) 4682(12) 240(1) In popular culture
    Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal for The Antisocial Network, aimed at chronicling the recent events on Wall Street.
    Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal The Antisocial Network, aimed at chronicling the recent events on Wall Street.

    A limited-run series based on the events titled To the Moon was also announced.

1004508418 2021-02-02T23:19:31Z 139074(773) 4723(41) 242(2) Decline in value
    Silver prices and silver mining also fell sharply since February.
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53% of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    Due to the decline in volatility and stability in the market, the Dow, S&P 500, and Nasdaq Composite rose by more than 1.4%, recording its best days since November, with the Dow climbing by more than 400 points.
    Silver prices and silver mining also fell sharply since February, falling more than 9%

    By January 28, 20s21, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53% of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004508531 2021-02-02T23:20:29Z 139063(-11) 4722(-1) 242(0) Companies with increased stock value
    Since January 1, executives at BlackBerry and GameStop have sold more than $22 million in stock. There is no allegation of insider trading among BlackBerry executives, according to CBS News. Three BlackBerry executives sold nearly $1.7 million of the company's stock, with one of the executives, BlackBerry Chief Financial Officer Steve Rai, selling all of his shares in the company excepting unvested employee stock options.
    Since January 1, executives at BlackBerry and GameStop have sold more than $22 million in stock. There is no allegation of insider trading among BlackBerry executives, according to CBS News. Three BlackBerry executives sold nearly $1.7 million of the company's stock, with one of the executives, Chief Financial Officer Steve Rai, selling all of his shares in the company excepting unvested employee stock options.
1004508656 2021-02-02T23:21:34Z 139401(338) 4734(12) 243(1) Decline in value
    Silver prices and silver mining also fell sharply since February, falling more than 9%
    Silver prices and silver mining also fell sharply since February, falling more than 9%, after surging on February 1 to its highest level since February 2013.
1004508772 2021-02-02T23:22:34Z 139458(57) 4738(4) 243(0) Decline in value
    On February 1 and February 2, the GameStop stock price declined substantially, losing more than 80 percent of its value from its peak price recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC, Blackberry, and Nokia shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been erased. This was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC, Blackberry, and Nokia shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.[failed verification]
1004509098 2021-02-02T23:25:01Z 139860(402) 4751(13) 244(1) Lawsuits
    At least 25 groups of plaintiffs across 11 states have filed lawsuits against Robinhood relating to their halting of stock purchases.
    At least 25 groups of plaintiffs across 11 states have filed lawsuits against Robinhood relating to their halting of stock purchases. On February 2, PCMag reported that Robinhood was facing 34 separate class-action lawsuits.
1004509109 2021-02-02T23:25:09Z 139852(-8) 4750(-1) 244(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC, Blackberry, and Nokia shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.[failed verification]
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.[failed verification]
1004509495 2021-02-02T23:28:06Z 140801(949) 4792(42) 246(2) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.[failed verification]
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined by over 30% in value. Other restricted names were lower in the start of February, such as Express which lowered 17%, Koss which dropped 45%, and Naked Brand Group which fell 14%. Genius Brands, Blackberry and Nokia were restricted names that briefly tipped on Monday before falling.

    Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.[failed verification]
1004509688 2021-02-02T23:29:48Z 137415(-3386) 4654(-138) 239(-7) Public figures
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors. Similar sentiments condemning the short squeeze as a "fraud" organized by a "flash mob", emphasizing the need for market stability and importance of short sellers, and calling for an SEC investigation were expressed by Better Markets President and CEO Dennis Kelleher, Bryan Corbett, president and CEO of the Managed Funds Association, as well as the Alternative Investment Management Association.

    Former SEC Commissioner Laura Unger, nominated by Bill Clinton, likened the short squeeze and the stock market situation to the mob that on January 6 stormed the United States Capitol, and called for the SEC and Federal Communications Commission to investigate the origins of the "market manipulation" and review whether they could monitor and regulate conversations on public chat forums. Columbia Law School Prof. John C. Coffee Jr. likewise stated that retail investors had "revolted and stormed the Bastille."
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
1004509875 2021-02-02T23:31:05Z 137698(283) 4659(5) 240(1) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined by over 30% in value. Other restricted names were lower in the start of February, such as Express which lowered 17%, Koss which dropped 45%, and Naked Brand Group which fell 14%. Genius Brands, Blackberry and Nokia were restricted names that briefly tipped on Monday before falling.
    Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.[failed verification]
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined by over 30% in value. Other restricted names were lower in the start of February, such as Express which lowered 17%, Koss which dropped 45%, and Naked Brand Group which fell 14%. Genius Brands, Blackberry and Nokia were restricted names that briefly tipped on Monday before falling, with Nokia able to rise above 7%.
    Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.
1004510251 2021-02-02T23:34:17Z 137702(4) 4660(1) 240(0) Decline in value
    Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could purchase at once.
    Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could be purchased at once.
1004510662 2021-02-02T23:37:32Z 135497(-2205) 4586(-74) 234(-6) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined by over 30% in value. Other restricted names were lower in the start of February, such as Express which lowered 17%, Koss which dropped 45%, and Naked Brand Group which fell 14%. Genius Brands, Blackberry and Nokia were restricted names that briefly tipped on Monday before falling, with Nokia able to rise above 7%.

    Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could be purchased at once.

    Silver prices and silver mining also fell sharply since February, falling more than 9%, after surging on February 1 to its highest level since February 2013.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could be purchased at once.
1004511301 2021-02-02T23:42:24Z 135532(35) 4587(1) 234(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high; this was partly due to trading restrictions from Robinhood and other brokers on how many shares of volatile stocks like GameStop, AMC, Express, and Nokia could be purchased at once.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
1004511679 2021-02-02T23:45:22Z 135021(-511) 4550(-37) 233(-1) Decline in value
    Due to the decline in volatility and stability in the market, the Dow, S&P 500, and Nasdaq Composite rose by more than 1.4%, recording its best days since November, with the Dow climbing by more than 400 points.

1004511923 2021-02-02T23:47:23Z 135025(4) 4551(1) 233(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
1004513240 2021-02-02T23:58:22Z 135012(-13) 4549(-2) 233(0) Other affected assets
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manager who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to January 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman owns over 2.3 million shares in the company, according to Bloomberg News. These shares were worth $44 million on December 31, but reached $1.1 billion when GameStop's stock reached $469, briefly making him a billionaire, before the value of his stock prices lowered to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outsider information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
    In an interview with CNBC, Reddit co-founder Alexis Ohanian compared the rally to Occupy Wall Street, saying that "it's a chance for Joe and Jane America—the retail buyers of stock—to flex back and push back on these hedge funds." Numerous journalists have also drawn comparison to the Occupy movement. Similar sentiments sympathetic for the retail investors were expressed by billionaire investors Mark Cuban and Chamath Palihapitiya. Palihapitiya, who passed on early investment opportunities in Robinhood, opined that the founding co-CEOs, Baiju Bhatt and Vladimir Tenev, lacked integrity and urged his followers to "#DeleteRobinhood". OpenAI CEO Sam Altman suggested the company change its name. SpaceX and Tesla CEO Elon Musk also criticized the general practice of stock shorting, calling it a "scam legal only for vestigial reasons" A number of major hedge funds had previously shorted Tesla, incurring losses of more than $40 billion as the stock rose considerably.
    In an interview with CNBC, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manager who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to January 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman owns over 2.3 million shares in the company, according to Bloomberg News. These shares were worth $44 million on December 31, but reached $1.1 billion when GameStop's stock reached $469, briefly making him a billionaire, before the value of his stock prices lowered to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outside information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
    In a CNBC interview, Reddit co-founder Alexis Ohanian compared the rally to Occupy Wall Street, saying that "it's a chance for Joe and Jane America—the retail buyers of stock—to flex back and push back on these hedge funds." Numerous journalists have also drawn comparison to the Occupy movement. Similar sentiments sympathetic for the retail investors were expressed by billionaire investors Mark Cuban and Chamath Palihapitiya. Palihapitiya, who passed on early investment opportunities in Robinhood, opined that the founding co-CEOs, Baiju Bhatt and Vladimir Tenev, lacked integrity and urged his followers to "#DeleteRobinhood". OpenAI CEO Sam Altman suggested the company change its name. SpaceX and Tesla CEO Elon Musk also criticized the general practice of stock shorting, calling it a "scam legal only for vestigial reasons" A number of major hedge funds had previously shorted Tesla, incurring losses of more than $40 billion as the stock rose considerably.
    In a CNBC interview, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
1004513286 2021-02-02T23:58:47Z 135019(7) 4549(0) 233(0)
    By January 28, 20s21, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53% of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53% of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
1004516768 2021-02-03T00:23:38Z 135029(10) 4549(0) 233(0) Timeline
1004546067 2021-02-03T03:30:08Z 134779(-250) 4538(-11) 233(0)
    On January 28, multiple brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Class-action lawsuits were filed against Robinhood in the U.S. District Courts for the Southern District of New York and the Northern District of Illinois. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.
    On January 28, multiple brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum, and dozens of class action lawsuits were filed against Robinhood in U.S. courts. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.
1004563390 2021-02-03T06:11:31Z 134779(0) 4537(-1) 233(0) GameStop
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1004564053 2021-02-03T06:18:10Z 135009(230) 4531(-6) 234(1) Political figures
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz (R-TX), Representatives Marjorie Taylor Greene (R-GA),[citation needed] Ro Khanna (D-CA),[citation needed] Ted Lieu (D-CA), Alexandria Ocasio-Cortez (D-NY), and Rashida Tlaib (D-MI), Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz (R-TX), Representatives Alexandria Ocasio-Cortez (D-NY), Ro Khanna (D-CA), Ted Lieu (D-CA), and Rashida Tlaib (D-MI), Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
1004568402 2021-02-03T07:01:57Z 135009(0) 4531(0) 234(0)
1004569850 2021-02-03T07:17:20Z 135009(0) 4531(0) 234(0) Reactions
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz (R-TX), Representatives Alexandria Ocasio-Cortez (D-NY), Ro Khanna (D-CA), Ted Lieu (D-CA), and Rashida Tlaib (D-MI), Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz (R-TX), Representatives Ro Khanna (D-CA), Ted Lieu (D-CA), Alexandria Ocasio-Cortez (D-NY), and Rashida Tlaib (D-MI), Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
1004572723 2021-02-03T07:46:13Z 135079(70) 4542(11) 234(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification] The stock closed on dollar values for three consecutive trading days.
1004582620 2021-02-03T09:31:13Z 134997(-82) 4528(-14) 234(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined by over 30% in value. Reports estimated that $27 billion in market value had been lost from the stock's high. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification] The stock closed on dollar values for three consecutive trading days.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value. Reports estimated that $27 billion in market value had been lost from the stock's high. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
1004604896 2021-02-03T12:55:36Z 134927(-70) 4516(-12) 234(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time since January 25. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value. Reports estimated that $27 billion in market value had been lost from the stock's high. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 67 percent of their value on February 2. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value; about $27 billion in market value had been lost from the three companies. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
1004607541 2021-02-03T13:15:30Z 134936(9) 4517(1) 234(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its peak price, recorded during the previous week. GameStop shares lost 67 percent of their value on February 2. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value; about $27 billion in market value had been lost from the three companies. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 67 percent of their value on February 2. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value; about $27 billion in market value had been lost from the three companies. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
1004619610 2021-02-03T14:46:25Z 135354(418) 4525(8) 236(2) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 67 percent of their value on February 2. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value; about $27 billion in market value had been lost from the three companies. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
1004626067 2021-02-03T15:30:55Z 135354(0) 4525(0) 236(0) References
1004637093 2021-02-03T16:36:45Z 136547(1193) 4661(136) 237(1) Political figures
    According the Anti-Defamation League, as the GameStop event played out, a small segment of social media users blamed Jews for supposedly rigging the system and manipulating the global economy through control of finance, government and media. This includes Andrew Anglin, founder of the neo-Nazi website The Daily Stormer, who called the GameStop short squeeze “fantastic stuff”. He wrote, “It is the epitome of the way Jews operate in Western, white countries, simply looting us all”. He continued, “beating them at their own game like this, costing them billions of dollars...is one of the funniest things anyone could ever do – even if the government is just going to tax you with inflation to get them all their money back”. Other similar conspiracy theories echoing harmful, centuries-old, antisemitc tropes circulated on platforms such as Reddit, Twitter, and Telegram.

1004637549 2021-02-03T16:39:21Z 135354(-1193) 4525(-136) 236(-1)
    According the Anti-Defamation League, as the GameStop event played out, a small segment of social media users blamed Jews for supposedly rigging the system and manipulating the global economy through control of finance, government and media. This includes Andrew Anglin, founder of the neo-Nazi website The Daily Stormer, who called the GameStop short squeeze “fantastic stuff”. He wrote, “It is the epitome of the way Jews operate in Western, white countries, simply looting us all”. He continued, “beating them at their own game like this, costing them billions of dollars...is one of the funniest things anyone could ever do – even if the government is just going to tax you with inflation to get them all their money back”. Other similar conspiracy theories echoing harmful, centuries-old, antisemitc tropes circulated on platforms such as Reddit, Twitter, and Telegram.

1004639784 2021-02-03T16:53:04Z 135355(1) 4525(0) 236(0)
    In a interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on reckless speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian politician, businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, remarking "They’re learning about the risks of the market. ... We forgot to educate them in high school, so let them learn in the real world, which is even better." O'Leary said that hedge funds now faced the new risk that "social media vigilantes" would target them, which would caution them from aggressively selling short stocks. O'Leary emphasized that the virality of the GameStop trade—aided partly by zero-commission brokerage apps such as Robinhood—had sparked a growing interest in investing.
    In an interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on reckless speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian politician, businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, remarking "They’re learning about the risks of the market. ... We forgot to educate them in high school, so let them learn in the real world, which is even better." O'Leary said that hedge funds now faced the new risk that "social media vigilantes" would target them, which would caution them from aggressively selling short stocks. O'Leary emphasized that the virality of the GameStop trade—aided partly by zero-commission brokerage apps such as Robinhood—had sparked a growing interest in investing.
1004649871 2021-02-03T17:55:23Z 135200(-155) 4502(-23) 236(0) Lawsuits
    At least 25 groups of plaintiffs across 11 states have filed lawsuits against Robinhood relating to their halting of stock purchases. On February 2, PCMag reported that Robinhood was facing 34 separate class-action lawsuits.
    As of February 2, Robinhood was facing 34 separate class-action lawsuits.
1004651276 2021-02-03T18:03:26Z 135216(16) 4505(3) 236(0) Cryptocurrencies
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, surged to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?]
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, increased 20% in value to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?]
1004653499 2021-02-03T18:17:32Z 135174(-42) 4504(-1) 236(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.[failed verification]
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.
1004654010 2021-02-03T18:20:23Z 135928(754) 4556(52) 238(2) Impact on involved entities
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street’s largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-avarage volume of transfers.

1004654070 2021-02-03T18:20:43Z 136012(84) 4562(6) 238(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.
1004654962 2021-02-03T18:25:35Z 136212(200) 4592(30) 238(0)
    While short-sellers have experiences huge losses, some of Wall Street’s largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers.

1004655471 2021-02-03T18:28:40Z 136298(86) 4606(14) 238(0)
    While short-sellers have experiences huge losses, some of Wall Street’s largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers.
    While short-sellers have experiences huge losses, some of Wall Street’s largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers, while executives at BlackBerry and GameStop have sold more than $22 million in stock.
1004655977 2021-02-03T18:31:48Z 136345(47) 4606(0) 239(1)
    While short-sellers have experiences huge losses, some of Wall Street’s largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers, while executives at BlackBerry and GameStop have sold more than $22 million in stock.
    While short-sellers have experiences huge losses, some of Wall Street’s largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers, while executives at GameStop and BlackBerry have sold more than $22 million in stock.
1004657085 2021-02-03T18:39:01Z 136349(4) 4606(0) 239(0)
    While short-sellers have experiences huge losses, some of Wall Streets largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers, while executives at GameStop and BlackBerry have sold more than $22 million in stock.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Streets largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-avarage volume of transfers.
    While short-sellers have experiences huge losses, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers, while executives at GameStop and BlackBerry have sold more than $22 million in stock.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers.
1004661791 2021-02-03T19:07:51Z 136492(143) 4608(2) 240(1) Halting of stock purchases
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades to 100^%. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
1004663255 2021-02-03T19:16:59Z 137552(1060) 4716(108) 241(1) Reactions
    According the Anti-Defamation League, as the GameStop event played out, a small segment of social media users blamed Jews for supposedly rigging the system and manipulating the global economy through control of finance, government and media. This includes Andrew Anglin, founder of the neo-Nazi website The Daily Stormer, who wrote “beating them [Jews] at their own game like this, costing them billions of dollars...is one of the funniest things anyone could ever do – even if the government is just going to tax you with inflation to get them all their money back”. Other similar conspiracy theories echoing antisemitic tropes circulated on platforms such as Reddit, Twitter, and Telegram.

1004664884 2021-02-03T19:27:07Z 137555(3) 4717(1) 241(0)
    While short-sellers have experiences huge losses, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers, while executives at GameStop and BlackBerry have sold more than $22 million in stock.
    According the Anti-Defamation League, as the GameStop event played out, a small segment of social media users blamed Jews for supposedly rigging the system and manipulating the global economy through control of finance, government and media. This includes Andrew Anglin, founder of the neo-Nazi website The Daily Stormer, who wrote “beating them [Jews] at their own game like this, costing them billions of dollars...is one of the funniest things anyone could ever do – even if the government is just going to tax you with inflation to get them all their money back”. Other similar conspiracy theories echoing antisemitic tropes circulated on platforms such as Reddit, Twitter, and Telegram.
    While short-sellers have experienced huge losses, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers, while executives at GameStop and BlackBerry have sold more than $22 million in stock.
    According to the Anti-Defamation League, as the GameStop event played out, a small segment of social media users blamed Jews for supposedly rigging the system and manipulating the global economy through control of finance, government and media. This includes Andrew Anglin, founder of the neo-Nazi website The Daily Stormer, who wrote “beating them [Jews] at their own game like this, costing them billions of dollars...is one of the funniest things anyone could ever do – even if the government is just going to tax you with inflation to get them all their money back”. Other similar conspiracy theories echoing antisemitic tropes circulated on platforms such as Reddit, Twitter, and Telegram.
1004665915 2021-02-03T19:33:09Z 137575(20) 4717(0) 241(0) Conspiracy theories
1004666569 2021-02-03T19:37:03Z 137244(-331) 4673(-44) 240(-1)
    While short-sellers have experienced huge losses, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers, while executives at GameStop and BlackBerry have sold more than $22 million in stock.

1004682557 2021-02-03T21:11:41Z 137300(56) 4673(0) 240(0) Timeline
1004685125 2021-02-03T21:26:09Z 137157(-143) 4671(-2) 239(-1)
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades to 100^%. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
1004700396 2021-02-03T22:52:26Z 137232(75) 4671(0) 239(0) GameStop
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock.

    However, in September 2020, Ryan Cohen (the former CEO of online pet food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1004701601 2021-02-03T22:58:41Z 137197(-35) 4671(0) 239(0) Background
    Short selling is a finance practice in which an investor, known as the short-seller, borrows shares and immediately sells them, hoping to buy them back later ("covering") at a lower price, return the borrowed shares (plus interest) to the lender and profit off the difference. The practice carries an unlimited risk of losses, because there is no inherent limit to how high a stock's price can rise. This is in contrast with taking a long position (simply owning the stock), where the investor's loss is limited to the cost of their initial investment.

    Short sellers are exposed to a risk of short squeezing, which occurs when the shorted stock jumps in value due, for instance, to a sudden piece of favorable news. Short sellers are then forced to buy back the stock they had initially sold, in an effort to keep their losses from mounting. Purchasing the stock to cover their short positions raises the price of the shorted stock, thus triggering more short sellers to cover their positions by buying the stock. This can result in a cascade of stock purchases and an even bigger jump of the share price.



    Short selling is a finance practice in which an investor, known as the short-seller, borrows shares and immediately sells them, hoping to buy them back later ("covering") at a lower price, return the borrowed shares (plus interest) to the lender and profit off the difference. The practice carries an unlimited risk of losses, because there is no inherent limit to how high a stock's price can rise. This is in contrast with taking a long position (simply owning the stock), where the investor's loss is limited to the cost of their initial investment.

    Short sellers are exposed to a risk of short squeezing, which occurs when the shorted stock jumps in value due, for instance, to a sudden piece of favorable news. Short sellers are then forced to buy back the stock they had initially sold, in an effort to keep their losses from mounting. Purchasing the stock to cover their short positions raises the price of the shorted stock, thus triggering more short sellers to cover their positions by buying the stock. This can result in a cascade of stock purchases and an even bigger jump of the share price.
1004701986 2021-02-03T23:00:47Z 137192(-5) 4671(0) 239(0) Short selling and short squeezes
1004703057 2021-02-03T23:06:42Z 137207(15) 4673(2) 239(0) Background
    On January 22, 2021, approximately 140 percent of GameStop's public float (the portion of shares of a corporation that are in the hands of public investors) had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.

    Short selling is a finance practice in which an investor, known as the short-seller, borrows shares and immediately sells them, hoping to buy them back later ("covering") at a lower price, return the borrowed shares (plus interest) to the lender and profit off the difference. The practice carries an unlimited risk of losses, because there is no inherent limit to how high a stock's price can rise. This is in contrast with taking a long position (simply owning the stock), where the investor's loss is limited to the cost of their initial investment.

    Short sellers are exposed to a risk of short squeezing, which occurs when the shorted stock jumps in value due, for instance, to a sudden piece of favorable news. Short sellers are then forced to buy back the stock they had initially sold, in an effort to keep their losses from mounting. Purchasing the stock to cover their short positions raises the price of the shorted stock, thus triggering more short sellers to cover their positions by buying the stock. This can result in a cascade of stock purchases and an even bigger jump of the share price.
    Short selling is a finance practice in which an investor, known as the short-seller, borrows shares and immediately sells them, hoping to buy them back later ("covering") at a lower price, return the borrowed shares (plus interest) to the lender and profit off the difference. The practice carries an unlimited risk of losses, because there is no inherent limit to how high a stock's price can rise. This is in contrast with taking a long position (simply owning the stock), where the investor's loss is limited to the cost of their initial investment.

    Short sellers are exposed to a risk of short squeezing, which occurs when the shorted stock jumps in value due, for instance, to a sudden piece of favorable news. Short sellers are then forced to buy back the stock they had initially sold, in an effort to keep their losses from mounting. Purchasing the stock to cover their short positions raises the price of the shorted stock, thus triggering more short sellers to cover their positions by buying the stock. This can result in a cascade of stock purchases and an even bigger jump of the share price.

    On January 22, 2021, approximately 140 percent of GameStop's public float (the portion of shares of a corporation that are in the hands of public investors) had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around the subreddit r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
1004704567 2021-02-03T23:16:37Z 137230(23) 4657(-16) 240(1) Background
    On January 22, 2021, approximately 140 percent of GameStop's public float (the portion of shares of a corporation that are in the hands of public investors) had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around the subreddit r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In pre-market trading hours, it briefly hit over $500 the same day.
    As of January 22, 2021[update], approximately 140% of GameStop's public float[a] had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around the subreddit r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In pre-market trading hours, it briefly hit over $500 the same day.
1004707935 2021-02-03T23:39:49Z 137160(-70) 4647(-10) 240(0)
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz (R-TX), Representatives Ro Khanna (D-CA), Ted Lieu (D-CA), Alexandria Ocasio-Cortez (D-NY), and Rashida Tlaib (D-MI), Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
    Senator Elizabeth Warren (D-MA) criticized both the short sellers and the buyers, and argued that more regulation was needed. She stated that the large investors and hedge funds who were criticizing the rally "have treated the stock market like their own personal casino while everyone else pays the price". She also called on the U.S. Securities and Exchange Commission to take a bigger stand, saying they must "act to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders" and "to have a healthy stock market, you've got to have a cop on the beat."
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi (D-CA) said that Congress will also be reviewing it. However, some reporters raised concern over a potential conflict of interest in regards to Yellen, as she had received $810,000 from Citadel after the end of her term as Chair of the Federal Reserve, as well as $7 million in total from various firms for public speaking appearances. Senator Sherrod Brown (D-OH) announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds (R-FL) called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood". Representative Maxine Waters (D-CA) announced she will convene a hearing in the Financial Services Committee.
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz, Representatives Ro Khanna, Ted Lieu, Alexandria Ocasio-Cortez, and Rashida Tlaib, Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
    Senator Elizabeth Warren criticized both the short sellers and the buyers, and argued that more regulation was needed. She stated that the large investors and hedge funds who were criticizing the rally "have treated the stock market like their own personal casino while everyone else pays the price". She also called on the U.S. Securities and Exchange Commission to take a bigger stand, saying they must "act to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders" and "to have a healthy stock market, you've got to have a cop on the beat."
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. However, some reporters raised concern over a potential conflict of interest in regards to Yellen, as she had received $810,000 from Citadel after the end of her term as Chair of the Federal Reserve, as well as $7 million in total from various firms for public speaking appearances. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood". Representative Maxine Waters announced she will convene a hearing in the Financial Services Committee.
1004709318 2021-02-03T23:50:54Z 137087(-73) 4661(14) 239(-1)
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock.

    However, in September 2020, Ryan Cohen (the former CEO of online pet food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.

    As of January 22, 2021[update], approximately 140% of GameStop's public float[a] had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around the subreddit r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In pre-market trading hours, it briefly hit over $500 the same day.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.

    On January 22, 2021, approximately 140 percent of GameStop's public float (the portion of shares of a corporation that are in the hands of public investors) had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In pre-market trading hours, it briefly hit over $500 the same day.
1004709840 2021-02-03T23:55:09Z 137149(62) 4661(0) 239(0) Reactions
1004710107 2021-02-03T23:57:06Z 137133(-16) 4661(0) 239(0) Political figures
1004710935 2021-02-04T00:02:27Z 136050(-1083) 4552(-109) 238(-1) Conspiracy theories
    According to the Anti-Defamation League, as the GameStop event played out, a small segment of social media users blamed Jews for supposedly rigging the system and manipulating the global economy through control of finance, government and media. This includes Andrew Anglin, founder of the neo-Nazi website The Daily Stormer, who wrote “beating them [Jews] at their own game like this, costing them billions of dollars...is one of the funniest things anyone could ever do – even if the government is just going to tax you with inflation to get them all their money back”. Other similar conspiracy theories echoing antisemitic tropes circulated on platforms such as Reddit, Twitter, and Telegram.

1004711456 2021-02-04T00:05:30Z 136064(14) 4552(0) 238(0) Short selling and short squeezes
    On January 22, 2021, approximately 140 percent of GameStop's public float (the portion of shares of a corporation that are in the hands of public investors) had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. On January 22, 2021, approximately 140 percent of GameStop's public float (the portion of shares of a corporation that are in the hands of public investors) had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
1004712962 2021-02-04T00:14:48Z 136097(33) 4537(-15) 239(1) Online discussion
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. On January 22, 2021, approximately 140 percent of GameStop's public float (the portion of shares of a corporation that are in the hands of public investors) had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[a] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In pre-market trading hours, it briefly hit over $500 the same day.
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. On January 22, 2021, approximately 140 percent of GameStop's public float[a] had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In pre-market trading hours, it briefly hit over $500 the same day.
1004713635 2021-02-04T00:19:24Z 136101(4) 4537(0) 239(0) Online discussion
1004714549 2021-02-04T00:25:29Z 136128(27) 4543(6) 239(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 200 times the stock's one-year low of $2.57. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the value of the stock ($17.25) at the beginning of the month. Many other heavily shorted securities also saw price increases.
1004715432 2021-02-04T00:31:12Z 136142(14) 4546(3) 239(0) Rise in stock price and volume
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop, is $483.00 (nearly 190 times the record low of $2.57). In pre-market trading hours, it briefly hit over $500 the same day.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the record low of $2.57 in April 2020). In pre-market trading hours the same day, it briefly hit over $500.
1004715763 2021-02-04T00:33:22Z 136146(4) 4546(0) 239(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the value of the stock ($17.25) at the beginning of the month. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. Many other heavily shorted securities also saw price increases.
1004729146 2021-02-04T02:05:38Z 136155(9) 4546(0) 239(0) Timeline
1004730218 2021-02-04T02:12:43Z 136173(18) 4546(0) 239(0) GameStop
1004735074 2021-02-04T02:46:26Z 136185(12) 4547(1) 239(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop shares had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. Many other heavily shorted securities also saw price increases.
1004736530 2021-02-04T02:58:49Z 136181(-4) 4547(0) 239(0)
1004745009 2021-02-04T04:12:23Z 136672(491) 4579(32) 240(1)
    Disgruntled users review-bombed the Robinhood app on the Google Play Store after it halted the trading of GameStop securities, pushing its ratings down to one star. However, Google deleted at least 100,000 such reviews, calling them "coordinated or inorganic". Protesters also showed up outside Robinhood headquarters in Menlo Park, California, at the Securities and Exchange Commission headquarters in Washington, D.C., and the New York Stock Exchange.
    Disgruntled users review-bombed the Robinhood app on the Google Play Store after it halted the trading of GameStop securities, pushing its ratings down to one star. However, Google deleted at least 100,000 such reviews, calling them "coordinated or inorganic". However, after another round of negative reviews on the app dropping it to a 1.1-star rating, Google confirmed that the new reviews do not violate Google policies and will not be removed. Protesters also showed up outside Robinhood headquarters in Menlo Park, California, at the Securities and Exchange Commission headquarters in Washington, D.C., and the New York Stock Exchange.
1004777025 2021-02-04T09:45:08Z 136663(-9) 4578(-1) 240(0) Retaliation and protests
    Disgruntled users review-bombed the Robinhood app on the Google Play Store after it halted the trading of GameStop securities, pushing its ratings down to one star. However, Google deleted at least 100,000 such reviews, calling them "coordinated or inorganic". However, after another round of negative reviews on the app dropping it to a 1.1-star rating, Google confirmed that the new reviews do not violate Google policies and will not be removed. Protesters also showed up outside Robinhood headquarters in Menlo Park, California, at the Securities and Exchange Commission headquarters in Washington, D.C., and the New York Stock Exchange.
    Disgruntled users review-bombed the Robinhood app on the Google Play Store after it halted the trading of GameStop securities, pushing its ratings down to one star. Google deleted at least 100,000 such reviews, calling them "coordinated or inorganic". However, after another round of negative reviews on the app dropping it to a 1.1-star rating, Google confirmed that the new reviews do not violate Google policies and will not be removed. Protesters also showed up outside Robinhood headquarters in Menlo Park, California, at the Securities and Exchange Commission headquarters in Washington, D.C., and the New York Stock Exchange.
1004783380 2021-02-04T10:41:06Z 136651(-12) 4578(0) 240(0) Rise in stock price and volume
1004783808 2021-02-04T10:45:54Z 136645(-6) 4578(0) 240(0) Hedge funds and short sellers
1004786532 2021-02-04T11:14:47Z 136723(78) 4587(9) 241(1) Rise in stock price and volume
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the record low of $2.57 in April 2020). In pre-market trading hours the same day, it briefly hit over $500.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the record low of $2.57 in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.
1004799305 2021-02-04T13:08:25Z 137127(404) 4592(5) 242(1) Investigations
    Vladimir Tenev, Robinhood's CEO, was reported to be testifying before the United States House Committee on Financial Services, scheduled for February 18.
    Vladimir Tenev, Robinhood's CEO, was reported to be testifying before the United States House Committee on Financial Services, scheduled for February 18, along with Keith Gill.[needs update]
1004830458 2021-02-04T16:30:54Z 137120(-7) 4591(-1) 242(0) Companies with increased stock value
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manager who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to January 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman owns over 2.3 million shares in the company, according to Bloomberg News. These shares were worth $44 million on December 31, but reached $1.1 billion when GameStop's stock reached $469, briefly making him a billionaire, before the value of his stock prices lowered to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outside information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manager who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to January 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman owns over 2.3 million shares in the company, according to Bloomberg News. These shares were worth $44 million on December 31, but reached $1.1 billion when GameStop's stock reached $469, briefly making him a billionaire, before the value of his stock dropped to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outside information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
1004831177 2021-02-04T16:35:06Z 137088(-32) 4591(0) 242(0) See also
1004831794 2021-02-04T16:38:27Z 137201(113) 4591(0) 242(0)
1004832067 2021-02-04T16:39:55Z 137265(64) 4604(13) 242(0) Stocks
    GME Resources, an Australian mining company, saw their shares increase more than 50 percent during intraday trading, closing with a 13.3-percent increase on January 28. This was speculated to have occurred as a joke or mistake given the identical ticker symbols on different exchanges.
    The shares of GME Resources, an Australian mining company with Australian Securities Exchange (ASX) symbol GME, increased more than 50 percent during intraday trading, closing with a 13.3-percent increase on January 28. This was speculated to have been due to a joke or mistake, as the ASX symbol was the same as GameStop's NYSE ticker symbol (GME).
1004832415 2021-02-04T16:41:59Z 137271(6) 4604(0) 242(0) Cryptocurrencies
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over $1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, increased 20% in value to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?]
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over US$1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, increased 20% in value to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?]
1004851822 2021-02-04T18:38:36Z 137276(5) 4605(1) 242(0) Moved event from current to past-tense
    As of January 29, Robinhood still imposes limits on the trading of GameStop, AMC, and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Motor Cars and Starbucks Corporation. However, on January 31, Robinhood announced it had removed several of these restrictions and would only limit the sale of eight securities.
    As of January 29, Robinhood was still imposing limits on the trading of GameStop, AMC, and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Motor Cars and Starbucks Corporation. However, on January 31, Robinhood announced it had removed several of these restrictions and would only limit the sale of eight securities.
1004853758 2021-02-04T18:49:43Z 137280(4) 4605(0) 242(0) Other affected assets
1004874751 2021-02-04T21:02:00Z 137341(61) 4605(0) 242(0) Timeline
1004875115 2021-02-04T21:04:29Z 137329(-12) 4604(-1) 242(0)
    In an interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on reckless speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian politician, businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, remarking "They’re learning about the risks of the market. ... We forgot to educate them in high school, so let them learn in the real world, which is even better." O'Leary said that hedge funds now faced the new risk that "social media vigilantes" would target them, which would caution them from aggressively selling short stocks. O'Leary emphasized that the virality of the GameStop trade—aided partly by zero-commission brokerage apps such as Robinhood—had sparked a growing interest in investing.
    In an interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on reckless speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, remarking "They’re learning about the risks of the market. ... We forgot to educate them in high school, so let them learn in the real world, which is even better." O'Leary said that hedge funds now faced the new risk that "social media vigilantes" would target them, which would caution them from aggressively selling short stocks. O'Leary emphasized that the virality of the GameStop trade—aided partly by zero-commission brokerage apps such as Robinhood—had sparked a growing interest in investing.
1004875447 2021-02-04T21:07:07Z 136819(-510) 4604(0) 240(-2)
1004880690 2021-02-04T21:42:43Z 136829(10) 4604(0) 240(0) Timeline
1004880936 2021-02-04T21:44:20Z 136829(0) 4604(0) 240(0) Timeline
1004896982 2021-02-04T23:49:08Z 136799(-30) 4604(0) 240(0)
1004904937 2021-02-05T00:43:38Z 136801(2) 4604(0) 240(0) Timeline
1004910379 2021-02-05T01:19:32Z 136535(-266) 4546(-58) 240(0) Political figures
    Senator Elizabeth Warren criticized both the short sellers and the buyers, and argued that more regulation was needed. She stated that the large investors and hedge funds who were criticizing the rally "have treated the stock market like their own personal casino while everyone else pays the price". She also called on the U.S. Securities and Exchange Commission to take a bigger stand, saying they must "act to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders" and "to have a healthy stock market, you've got to have a cop on the beat."
    In an interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on reckless speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, remarking "They’re learning about the risks of the market. ... We forgot to educate them in high school, so let them learn in the real world, which is even better." O'Leary said that hedge funds now faced the new risk that "social media vigilantes" would target them, which would caution them from aggressively selling short stocks. O'Leary emphasized that the virality of the GameStop trade—aided partly by zero-commission brokerage apps such as Robinhoodhad sparked a growing interest in investing.
    On January 28, New York State Comptroller Thomas DiNapoli told reporters that the state, which had 647,500 shares in March 2020, had sold off hundreds of thousands of shares since then, benefiting from the squeeze.
    Senator Elizabeth Warren criticized both the short sellers and the buyers, and argued that more regulation was needed. She stated that the large investors and hedge funds who were criticizing the rally "have treated the stock market like their own personal casino while everyone else pays the price". She also called for stronger regulatory action from the U.S. Securities and Exchange Commission "to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders"
    In an interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on reckless speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, saying thar real-world education was positive; that the risk of being targeted by "social media vigilantes" would dissuade hedge funds from aggressively selling short stocks; and zero-commission brokerage apps such as Robinhood had sparked a growing interest in retail investing.
    On January 28, New York State Comptroller Thomas DiNapoli told reporters that the state pension fund, which had 647,500 shares in March 2020, had sold off hundreds of thousands of shares since then, benefiting from the squeeze.
1004910459 2021-02-05T01:20:18Z 136536(1) 4546(0) 240(0)
    Senator Elizabeth Warren criticized both the short sellers and the buyers, and argued that more regulation was needed. She stated that the large investors and hedge funds who were criticizing the rally "have treated the stock market like their own personal casino while everyone else pays the price". She also called for stronger regulatory action from the U.S. Securities and Exchange Commission "to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders"
    Senator Elizabeth Warren criticized both the short sellers and the buyers, and argued that more regulation was needed. She stated that the large investors and hedge funds who were criticizing the rally "have treated the stock market like their own personal casino while everyone else pays the price". She also called for stronger regulatory action from the U.S. Securities and Exchange Commission "to ensure that markets reflect real value, rather than the highly leveraged bets of wealthy traders or those who seek to inflict financial damage on those traders."
1004910663 2021-02-05T01:21:47Z 135370(-1166) 4498(-48) 238(-2)
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. However, some reporters raised concern over a potential conflict of interest in regards to Yellen, as she had received $810,000 from Citadel after the end of her term as Chair of the Federal Reserve, as well as $7 million in total from various firms for public speaking appearances. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood". Representative Maxine Waters announced she will convene a hearing in the Financial Services Committee.
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood". Representative Maxine Waters announced she will convene a hearing in the Financial Services Committee.
1004911144 2021-02-05T01:25:12Z 135481(111) 4510(12) 239(1) Investigations
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood". Representative Maxine Waters announced she will convene a hearing in the Financial Services Committee.
    Vladimir Tenev, Robinhood's CEO, was reported to be testifying before the United States House Committee on Financial Services, scheduled for February 18, along with Keith Gill.[needs update]
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
    Representative Maxine Waters annouced that the House Financial Services Committee would convene a hearing entitled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide to educate Congress. Witnesses at the hearing, scheduled for February 18, will include Vladimir Tenev, Robinhood's CEO, along with Keith Gill.[needs update]
1004912091 2021-02-05T01:32:11Z 135194(-287) 4469(-41) 238(-1) Possible causes
    Due to the COVID-19 pandemic, consumer spending in general was drastically lower than normal. There was also more money in the hands of investors as a result of historically low interest rates and an inability to spend their money elsewhere. Other suggested factors included a culture of taking massive gambles on the stock market in the hopes of making money quickly, anger of some investors towards Wall Street hedge funds for their role in the financial crisis of 2007 and 2008, or the general democratization of the stock market coupled with the ability of retail traders to communicate instantaneously through social media.
    Suggested factors included a culture of taking massive gambles on the stock market in the hopes of making money quickly, anger of some investors towards Wall Street hedge funds for their role in the financial crisis of 2007 and 2008, or the general democratization of the stock market coupled with the ability of retail traders to communicate instantaneously through social media.
1004912232 2021-02-05T01:32:57Z 136841(1647) 4517(48) 242(4)
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. However, some reporters raised concern over a potential conflict of interest in regards to Yellen, as she had received $810,000 from Citadel after the end of her term as Chair of the Federal Reserve, as well as $7 million in total from various firms for public speaking appearances. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
1004912604 2021-02-05T01:35:28Z 135194(-1647) 4469(-48) 238(-4)
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. However, some reporters raised concern over a potential conflict of interest in regards to Yellen, as she had received $810,000 from Citadel after the end of her term as Chair of the Federal Reserve, as well as $7 million in total from various firms for public speaking appearances. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
1004948478 2021-02-05T05:50:35Z 135194(0) 4469(0) 238(0) Timeline
1004988224 2021-02-05T11:26:04Z 135573(379) 4490(21) 239(1)
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund bought a 5% stake in Gamestop when shares were at 10 dollars and made 700 million dollars.
1005011432 2021-02-05T14:39:44Z 135265(-308) 4490(0) 239(0)
1005013858 2021-02-05T14:55:19Z 135243(-22) 4488(-2) 239(0) Online discussion
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information, as DeepFuckingValue, regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
1005016746 2021-02-05T15:14:02Z 135299(56) 4490(2) 239(0) Gains of existing shareholders and third parties
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund bought a 5% stake in Gamestop when shares were at 10 dollars and made 700 million dollars.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a 5% stake in Gamestop when shares were at 10 dollars and made 700 million dollars.
1005016921 2021-02-05T15:15:02Z 135296(-3) 4490(0) 239(0) In popular culture
1005034162 2021-02-05T17:12:41Z 135719(423) 4501(11) 240(1)
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares.

    Apart from GameStop, many other heavily shorted securities (as well as securities with low short interest) saw increases in their prices:

    a Prices may be higher during extended-hours trading.

    The shares of GME Resources, an Australian mining company with Australian Securities Exchange (ASX) symbol GME, increased more than 50 percent during intraday trading, closing with a 13.3-percent increase on January 28. This was speculated to have been due to a joke or mistake, as the ASX symbol was the same as GameStop's NYSE ticker symbol (GME).

    Amateur traders in Malaysia were inspired by the GameStop short squeeze to target shares for Malaysian latex glove makers on Bursa Malaysia as a countermove against the devaluation of the sector by institutional investors following the lifting of a ban on short selling in the country earlier in January 2021. Top Glove, Hartalega and Supermax respectively recorded increases in shares as high as 15 percent, 10 percent and 9.2 percent during intraday trading on January 29, before closing with respective increases of 8.5 percent, 5.4 percent and 3.7 percent. The rally call was reportedly organized from r/bursabets, a Malaysian offshoot of r/wallstreetbets named after the Malaysian stock exchange.

    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over US$1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, increased 20% in value to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?]

    Following the stock market surge, futures for silver began to rapidly increase as well, although later news reports clarified that it was unclear who was behind the rise. On January 28 and 29, the price of silver rose 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Users on r/wallstreetbets deny involvement in the increasing price of silver, instead blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares. Many of those investing into the stock were young teenage investors.
    Apart from GameStop, many other heavily shorted securities (as well as securities with low short interest) saw increases in their prices:

    a Prices may be higher during extended-hours trading.

    The shares of GME Resources, an Australian mining company with Australian Securities Exchange (ASX) symbol GME, increased more than 50 percent during intraday trading, closing with a 13.3-percent increase on January 28. This was speculated to have been due to a joke or mistake, as the ASX symbol was the same as GameStop's NYSE ticker symbol (GME).

    Amateur traders in Malaysia were inspired by the GameStop short squeeze to target shares for Malaysian latex glove makers on Bursa Malaysia as a countermove against the devaluation of the sector by institutional investors following the lifting of a ban on short selling in the country earlier in January 2021. Top Glove, Hartalega and Supermax respectively recorded increases in shares as high as 15 percent, 10 percent and 9.2 percent during intraday trading on January 29, before closing with respective increases of 8.5 percent, 5.4 percent and 3.7 percent. The rally call was reportedly organized from r/bursabets, a Malaysian offshoot of r/wallstreetbets named after the Malaysian stock exchange.

    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over US$1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, increased 20% in value to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?]

    Following the stock market surge, futures for silver began to rapidly increase as well, although later news reports clarified that it was unclear who was behind the rise. On January 28 and 29, the price of silver rose 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Users on r/wallstreetbets deny involvement in the increasing price of silver, instead blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.



1005056172 2021-02-05T19:31:05Z 135717(-2) 4501(0) 240(0) top
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. Many other heavily shorted securities also saw price increases.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
1005062992 2021-02-05T20:12:44Z 135716(-1) 4501(0) 240(0)


1005070508 2021-02-05T21:01:38Z 135773(57) 4501(0) 240(0) Timeline
1005092287 2021-02-05T23:27:40Z 135773(0) 4501(0) 240(0) Rise in stock price and volume
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares. Many of those investing into the stock were young teenage investors.
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares. Some of those investing into the stock were young teenage investors.
1005133071 2021-02-06T03:41:40Z 135805(32) 4501(0) 240(0)
1005134068 2021-02-06T03:50:25Z 135778(-27) 4501(0) 240(0)
1005147915 2021-02-06T05:49:03Z 136461(683) 4532(31) 241(1) Media adaptions

    Reddit’s WallStreetBets founder, Jaime Rogozinski, who founded the forum in 2012, sold the rights to his life story to RatPac Entertainment, a movie production company known for backing hits like “Wonder Woman"
1005150223 2021-02-06T06:11:31Z 136430(-31) 4532(0) 241(0)
    Reddits WallStreetBets founder, Jaime Rogozinski, who founded the forum in 2012, sold the rights to his life story to RatPac Entertainment, a movie production company known for backing hits like Wonder Woman"
    Reddit's WallStreetBets founder, Jaime Rogozinski, who founded the forum in 2012, sold the rights to his life story to RatPac Entertainment, a movie production company known for backing hits like "Wonder Woman"
1005156745 2021-02-06T07:13:54Z 136432(2) 4532(0) 241(0) Media adaptions
1005159180 2021-02-06T07:34:12Z 136434(2) 4532(0) 241(0)
1005163014 2021-02-06T08:06:14Z 136445(11) 4532(0) 241(0) Timeline
1005168283 2021-02-06T08:55:26Z 136431(-14) 4530(-2) 241(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was partially triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
1005168651 2021-02-06T08:59:35Z 136445(14) 4532(2) 241(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was partially triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
1005169036 2021-02-06T09:03:57Z 136448(3) 4532(0) 241(0) Impact on involved entities
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53% of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a 5% stake in Gamestop when shares were at 10 dollars and made 700 million dollars.
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53 percent of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a five percent stake in GameStop when shares were at $10 and made $700 million.
1005169296 2021-02-06T09:06:57Z 136361(-87) 4517(-15) 241(0) Media adaptations
    Reddit's WallStreetBets founder, Jaime Rogozinski, who founded the forum in 2012, sold the rights to his life story to RatPac Entertainment, a movie production company known for backing hits like "Wonder Woman"
    Jaime Rogozinski, who founded r/wallstreetbets in 2012, sold the rights to his life story to RatPac Entertainment.
1005169613 2021-02-06T09:10:40Z 136851(490) 4542(25) 242(1) Media adaptations

    A documentary based on the event, created by the studios XTR and The Optimist and partially funded by a Kickstarter campaign, is also in the works.
1005169712 2021-02-06T09:11:49Z 136851(0) 4547(5) 242(0) Media adaptations
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film.

    Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal The Antisocial Network, aimed at chronicling the recent events on Wall Street.

    A limited-run series based on the events titled To the Moon was also announced.

    Jaime Rogozinski, who founded r/wallstreetbets in 2012, sold the rights to his life story to RatPac Entertainment.

    A documentary based on the event, created by the studios XTR and The Optimist and partially funded by a Kickstarter campaign, is also in the works.
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal The Antisocial Network, aimed at chronicling the recent events on Wall Street. A limited-run series based on the events titled To the Moon was also announced. Jaime Rogozinski, who founded r/wallstreetbets in 2012, sold the rights to his life story to RatPac Entertainment, and a documentary based on the event, created by the studios XTR and The Optimist and partially funded by a Kickstarter campaign, is also in the works.
1005171029 2021-02-06T09:26:25Z 136851(0) 4547(0) 242(0) Political figures
    In an interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on reckless speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, saying thar real-world education was positive; that the risk of being targeted by "social media vigilantes" would dissuade hedge funds from aggressively selling short stocks; and zero-commission brokerage apps such as Robinhood had sparked a growing interest in retail investing.
    In an interview with CNBC, Massachusetts Secretary of the Commonwealth William F. Galvin criticized the investors' behavior as based on reckless speculation and called for a 30-day suspension of trading GME stock, stating "I think we've all recognized the current pandemic has created a unique situation where many have gotten into day-trading and really have no idea exactly what they're doing ... I think small-time investors like that, unsophisticated investors, are going to be hurt by this." In another CNBC interview joined by Canadian businessman and Shark Tank investor Kevin O'Leary, O'Leary disputed Galvin's assertions, saying that real-world education was positive; that the risk of being targeted by "social media vigilantes" would dissuade hedge funds from aggressively selling short stocks; and zero-commission brokerage apps such as Robinhood had sparked a growing interest in retail investing.
1005206892 2021-02-06T14:27:21Z 137249(398) 4567(20) 243(1)
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a five percent stake in GameStop when shares were at $10 and made $700 million.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a five percent stake in GameStop when shares were at $10 and made $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth 2.6 billion at the peak.
1005225259 2021-02-06T16:32:38Z 137684(435) 4591(24) 244(1) Media adaptations
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal The Antisocial Network, aimed at chronicling the recent events on Wall Street. A limited-run series based on the events titled To the Moon was also announced. Jaime Rogozinski, who founded r/wallstreetbets in 2012, sold the rights to his life story to RatPac Entertainment, and a documentary based on the event, created by the studios XTR and The Optimist and partially funded by a Kickstarter campaign, is also in the works.
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal The Antisocial Network, aimed at chronicling the recent events on Wall Street. A limited-run series based on the events titled To the Moon was also announced. Jaime Rogozinski, who founded r/wallstreetbets in 2012, sold the rights to his life story to RatPac Entertainment, and a documentary based on the event, created by the studios XTR and The Optimist and partially funded by a Kickstarter campaign, is also in the works. HBO is also currently in development of a scripted film about the events from executive producers Andrew Ross Sorkin, Jason Blum, and Len Amato.
1005225403 2021-02-06T16:33:30Z 137669(-15) 4591(0) 244(0) Media adaptations
1005226404 2021-02-06T16:39:13Z 138506(837) 4626(35) 246(2) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.

    Despite the decline, some r/wallstreetbets users rallied to convince other users to hold on to the shares, arguing either that they would increase in value or that such an action would send a political message.
1005226505 2021-02-06T16:39:54Z 138536(30) 4626(0) 246(0) Decline in value
1005226676 2021-02-06T16:40:55Z 138537(1) 4626(0) 246(0) Gains of existing shareholders and third parties
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a five percent stake in GameStop when shares were at $10 and made $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth 2.6 billion at the peak.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a five percent stake in GameStop when shares were at $10 and made $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak.
1005227362 2021-02-06T16:44:59Z 139055(518) 4651(25) 247(1) Gains of existing shareholders and third parties
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a five percent stake in GameStop when shares were at $10 and made $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a five percent stake in GameStop when shares were at $10 and made $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak.
1005227887 2021-02-06T16:48:06Z 139059(4) 4651(0) 247(0) Gains of existing shareholders and third parties
1005228841 2021-02-06T16:53:59Z 139352(293) 4651(0) 248(1) Gains of existing shareholders and third parties
1005229416 2021-02-06T16:57:23Z 139376(24) 4655(4) 248(0) Gains of existing shareholders and third parties
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Senvest Management hedge fund had previously bought a five percent stake in GameStop when shares were at $10 and made $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak.
1005232261 2021-02-06T17:15:17Z 137919(-1457) 4654(-1) 245(-3)
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
1005247313 2021-02-06T18:56:09Z 138426(507) 4671(17) 246(1)
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers. Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak.
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers.

    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. The Koss family, owners of smartphone producer Koss Corporation earned $30 million from the stock surge.
1005251251 2021-02-06T19:23:34Z 138705(279) 4671(0) 246(0)
1005254261 2021-02-06T19:42:30Z 138735(30) 4671(0) 246(0)
1005255803 2021-02-06T19:51:25Z 138819(84) 4684(13) 246(0)
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. The Koss family, owners of smartphone producer Koss Corporation earned $30 million from the stock surge.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. The trading led to volatility in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million.
1005257875 2021-02-06T20:04:14Z 138819(0) 4684(0) 246(0)
1005259687 2021-02-06T20:14:38Z 136748(-2071) 4466(-218) 245(-1)



    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.

    On January 28, multiple brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum, and dozens of class action lawsuits were filed against Robinhood in U.S. courts. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.

1005259943 2021-02-06T20:16:18Z 138819(2071) 4684(218) 246(1)



    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.

    On January 28, multiple brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum, and dozens of class action lawsuits were filed against Robinhood in U.S. courts. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.

1005273655 2021-02-06T21:50:18Z 138147(-672) 4684(0) 246(0)
1005277880 2021-02-06T22:20:16Z 138379(232) 4717(33) 247(1) Gains of existing shareholders and third parties
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. The trading led to volatility in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The trading led to volatility in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million.
1005278162 2021-02-06T22:22:18Z 138333(-46) 4717(0) 247(0)
1005278240 2021-02-06T22:22:47Z 138366(33) 4717(0) 247(0) Gains of existing shareholders and third parties
1005278438 2021-02-06T22:24:12Z 138399(33) 4717(0) 247(0) Gains of existing shareholders and third parties
1005278550 2021-02-06T22:25:00Z 138428(29) 4717(0) 247(0) Gains of existing shareholders and third parties
1005278765 2021-02-06T22:26:36Z 138336(-92) 4717(0) 247(0)
1005278952 2021-02-06T22:28:05Z 138474(138) 4717(0) 247(0) Metal futures
1005279210 2021-02-06T22:29:53Z 138509(35) 4717(0) 247(0)
1005279549 2021-02-06T22:31:56Z 138569(60) 4717(0) 247(0)
1005332775 2021-02-07T04:00:22Z 138567(-2) 4716(-1) 247(0) Halting of stock purchases
    As of January 29, Robinhood was still imposing limits on the trading of GameStop, AMC, and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Motor Cars and Starbucks Corporation. However, on January 31, Robinhood announced it had removed several of these restrictions and would only limit the sale of eight securities.
    As of January 29, Robinhood was still imposing limits on the trading of GameStop, AMC, and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Holdings and Starbucks Corporation. However, on January 31, Robinhood announced it had removed several of these restrictions and would only limit the sale of eight securities.
1005391459 2021-02-07T12:38:29Z 138560(-7) 4715(-1) 247(0)
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manager who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to January 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman owns over 2.3 million shares in the company, according to Bloomberg News. These shares were worth $44 million on December 31, but reached $1.1 billion when GameStop's stock reached $469, briefly making him a billionaire, before the value of his stock dropped to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outside information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
    Since the beginning of 2021, four members of GameStop's board of directors have sold $20 million in company stock. One of the sellers was Kurt Wolf, a former executive consultant turned money manager who joined the board in 2020. Hestia Capital, Wolf's investment fund, unloaded more than two-thirds of its stake in GameStop in January, grossing Wolf and his clients over $17 million. GameStop Chair Kathy Vrabeck and board member Raul Fernandez sold shares from January 13 to 16, making $1.4 million, and likewise, board member Lizabeth Dunn cashed in $156,700. GameStop CEO George Sherman owns over 2.3 million shares in the company, according to Bloomberg News. These shares were worth $44 million on December 31, but reached $1.1 billion when GameStop's stock reached $469, briefly making him a billionaire, before the value of his stock dropped to $901 million on January 29. GameStop moved to restrict executives and insiders from selling additional shares; however, as all the events in question were due to outside information and speculation in the public domain, the executives would not be breaking insider-trading laws, according to CBS News.
1005402987 2021-02-07T14:03:28Z 139142(582) 4752(37) 248(1)

    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semetic slurs and threats. Steve Cohen his twitter account after threats to his family.
1005404769 2021-02-07T14:15:06Z 139143(1) 4752(0) 248(0)
    Representative Maxine Waters annouced that the House Financial Services Committee would convene a hearing entitled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide to educate Congress. Witnesses at the hearing, scheduled for February 18, will include Vladimir Tenev, Robinhood's CEO, along with Keith Gill.[needs update]
    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semetic slurs and threats. Steve Cohen his twitter account after threats to his family.
    Representative Maxine Waters announced that the House Financial Services Committee would convene a hearing entitled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide to educate Congress. Witnesses at the hearing, scheduled for February 18, will include Vladimir Tenev, Robinhood's CEO, along with Keith Gill.[needs update]
    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semetic slurs and threats. Steve Cohen his Twitter account after threats to his family.
1005412280 2021-02-07T14:58:28Z 139152(9) 4753(1) 248(0) Increased security
    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semetic slurs and threats. Steve Cohen his Twitter account after threats to his family.
    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semetic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.
1005435097 2021-02-07T17:16:10Z 139152(0) 4753(0) 248(0)
    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semetic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.
    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semitic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.
1005449747 2021-02-07T18:44:52Z 138412(-740) 4698(-55) 246(-2)
    Following the Robinhood controversy, the World Wide Robin Hood Society, a UK-based group with the Twitter handle @robinhood dedicated to promoting the Robin Hood legend, noticed that they had risen from 350 Twitter followers to over 50,000. It is believed that their sudden increase in followers was due to confusion between the two organizations' similar names.

    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semitic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.
    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semitic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.
1005450255 2021-02-07T18:47:42Z 153212(14800) 4698(0) 246(0)
1005451042 2021-02-07T18:52:20Z 153248(36) 4703(5) 246(0) Retaliation and protests
    The Wall Street Journal reported that short seller and Citron Research editor Andrew Left was being targeted online, including an incident where Left's social media accounts were hacked to text his children "threatening, profane and personal language".

    In the aftermath of the short squeeze resulted in several financial executives hiring additional security. Gabe Plotkin of Melvin Capital hired security after facing anti-semitic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.


    The Wall Street Journal reported that short seller and Citron Research editor Andrew Left was being targeted online, including an incident where Left's social media accounts were hacked to text his children "threatening, profane and personal language". In the aftermath of the short squeeze resulted in several financial executives hiring additional security due to online threats. Gabe Plotkin of Melvin Capital hired security after facing anti-semitic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.
1005452067 2021-02-07T18:57:53Z 153255(7) 4703(0) 246(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
    In January 2021, a short squeeze of the stock concerning the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $1.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
1005455459 2021-02-07T19:18:50Z 153248(-7) 4703(0) 246(0)
    In January 2021, a short squeeze of the stock concerning the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $1.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
1005458059 2021-02-07T19:32:12Z 153197(-51) 4694(-9) 246(0)
    The Wall Street Journal reported that short seller and Citron Research editor Andrew Left was being targeted online, including an incident where Left's social media accounts were hacked to text his children "threatening, profane and personal language". In the aftermath of the short squeeze resulted in several financial executives hiring additional security due to online threats. Gabe Plotkin of Melvin Capital hired security after facing anti-semitic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.
    The Wall Street Journal reported that short seller and Citron Research editor Andrew Left was being targeted online, including an incident where Left's social media accounts were hacked to text his children "threatening, profane and personal language". Several financial executives hired additional security due to online threats. Gabe Plotkin of Melvin Capital hired security after facing anti-semitic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.
1005458709 2021-02-07T19:35:54Z 153215(18) 4697(3) 246(0) Rise in stock price and volume
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the record low of $2.57 in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the low of $2.57 reached 9 months earlier in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.
1005473431 2021-02-07T21:03:29Z 153692(477) 4736(39) 247(1)
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The trading led to volatility in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to its 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020.
1005522151 2021-02-08T03:03:46Z 152950(-742) 4735(-1) 246(-1)
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over US$1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, increased 20% in value to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood sparked controversy by banning trading on Dogecoin.[unreliable source?]
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over US$1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, increased 20% in value to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood then began limiting the trading on Dogecoin.
1005547315 2021-02-08T06:45:03Z 152946(-4) 4735(0) 246(0)
    On January 28, multiple brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum, and dozens of class action lawsuits were filed against Robinhood in U.S. courts. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum, and dozens of class action lawsuits were filed against Robinhood in U.S. courts. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.
1005580648 2021-02-08T11:53:19Z 153011(65) 4744(9) 246(0) Gains of existing shareholders and third parties
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million. Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to its 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million, exiting its position after when Elon Musk tweeted "Gamestonks!". Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to its 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020.
1005581044 2021-02-08T11:57:00Z 153380(369) 4744(0) 246(0)
1005622611 2021-02-08T17:02:31Z 152744(-636) 4744(0) 246(0)
1005626096 2021-02-08T17:22:06Z 153380(636) 4744(0) 246(0)
1005639332 2021-02-08T18:35:41Z 153360(-20) 4741(-3) 246(0) Gains of existing shareholders and third parties
    An analysis created by Reuters concluded that due to the events that have unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes and from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million, exiting its position after when Elon Musk tweeted "Gamestonks!". Asset manager BlackRock had a roughly 13% stake in Gamestop and its stake became worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to its 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020.
    An analysis by Reuters concluded that due to the events that unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes, as well as from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million, exiting its position after Elon Musk tweeted "Gamestonks!". Asset manager BlackRock had a roughly 13% stake in Gamestop, which was worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to the 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020.
1005675528 2021-02-08T22:09:13Z 153366(6) 4741(0) 246(0)
1005704779 2021-02-09T01:19:57Z 155023(1657) 4821(80) 249(3) Investigations
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Yellen convened a meeting of financial regulators, including the heads of the Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting. The regulators were not seen as likely to view the volatility as creating any systemic risks. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
1005706804 2021-02-09T01:36:30Z 155047(24) 4826(5) 249(0) GameStop
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    GameStop, an American Never gonna give you up chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1005706822 2021-02-09T01:36:43Z 155023(-24) 4821(-5) 249(0)
    GameStop, an American Never gonna give you up chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1005706955 2021-02-09T01:37:46Z 155057(34) 4828(7) 249(0) GameStop
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    GameStop, an American chain of no change Never gonna give you up brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1005707068 2021-02-09T01:38:29Z 155226(169) 4864(36) 249(0) GameStop
    GameStop, an American chain of no change Never gonna give you up brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    GameStop, an American chain of no change Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1005707155 2021-02-09T01:39:06Z 155023(-203) 4821(-43) 249(0)
    GameStop, an American chain of no change Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up Never gonna give you up brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1005707315 2021-02-09T01:40:24Z 155023(0) 4821(0) 249(0)
1005707683 2021-02-09T01:42:53Z 155023(0) 4821(0) 249(0)
1005708138 2021-02-09T01:45:11Z 154362(-661) 4748(-73) 248(-1) GameStop
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    so u want to play a game i have bots ready so do u want to play?
1005708284 2021-02-09T01:45:48Z 155023(661) 4821(73) 249(1)
    so u want to play a game i have bots ready so do u want to play?
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1005708559 2021-02-09T01:46:56Z 154241(-782) 4739(-82) 248(-1) GameStop
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    so u do what to play im ready
1005708613 2021-02-09T01:47:14Z 155023(782) 4821(82) 249(1)
    so u do what to play im ready
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1005708840 2021-02-09T01:48:28Z 155023(0) 4821(0) 249(0)
1005709119 2021-02-09T01:49:51Z 155023(0) 4821(0) 249(0)
1005709350 2021-02-09T01:51:15Z 155023(0) 4821(0) 249(0)
1005709509 2021-02-09T01:52:04Z 132245(-22778) 3837(-984) 196(-53) Timeline
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares. Some of those investing into the stock were young teenage investors.

    In conjunction with the short squeeze, the resulting increase in options volume triggered a gamma squeeze as a result of market makers needing to buy shares to hedge their increasingly short exposure.

    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the low of $2.57 reached 9 months earlier in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.

    The r/wallstreetbets Discord server was banned on January 27 for violating the company's restrictions on hate speech. However, users quickly formed similar servers on the application, and Discord reversed its decision the next day, attempting to help the community moderate its server instead.

    On January 27, r/wallstreetbets triggered a short squeeze on AMC Theatres (ticker symbol: AMC), a company in a similar position to GameStop. The value of AMC Networks (ticker symbol: AMCX) also increased significantly, which was believed to have happened because of the stock's name being similar to AMC's. Disruptions and restrictions limiting trade have been reported on multiple brokerages such as Charles Schwab Corporation, its subsidiary, TD Ameritrade, and Robinhood. According to Bloomberg, US trading volumes (by share count) on January 27 exceeded the peak set in October 2008 during the financial crisis, and was the third-highest in dollar terms within the last 13 years on record.

    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other brokerages soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.

    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.

    As of January 29, Robinhood was still imposing limits on the trading of GameStop, AMC, and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Holdings and Starbucks Corporation. However, on January 31, Robinhood announced it had removed several of these restrictions and would only limit the sale of eight securities.

    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.

    Despite the decline, some r/wallstreetbets users rallied to convince other users to hold on to the shares, arguing either that they would increase in value or that such an action would send a political message.
    sub to p e w d i e p i e
1005709662 2021-02-09T01:52:54Z 131458(-787) 3758(-79) 195(-1) GameStop
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    sub to p e w d i e p i e
1005709727 2021-02-09T01:53:09Z 155023(23565) 4821(1063) 249(54)
    sub to p e w d i e p i e
    sub to p e w d i e p i e
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares. Some of those investing into the stock were young teenage investors.

    In conjunction with the short squeeze, the resulting increase in options volume triggered a gamma squeeze as a result of market makers needing to buy shares to hedge their increasingly short exposure.

    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the low of $2.57 reached 9 months earlier in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.

    The r/wallstreetbets Discord server was banned on January 27 for violating the company's restrictions on hate speech. However, users quickly formed similar servers on the application, and Discord reversed its decision the next day, attempting to help the community moderate its server instead.

    On January 27, r/wallstreetbets triggered a short squeeze on AMC Theatres (ticker symbol: AMC), a company in a similar position to GameStop. The value of AMC Networks (ticker symbol: AMCX) also increased significantly, which was believed to have happened because of the stock's name being similar to AMC's. Disruptions and restrictions limiting trade have been reported on multiple brokerages such as Charles Schwab Corporation, its subsidiary, TD Ameritrade, and Robinhood. According to Bloomberg, US trading volumes (by share count) on January 27 exceeded the peak set in October 2008 during the financial crisis, and was the third-highest in dollar terms within the last 13 years on record.

    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other brokerages soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.

    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.

    As of January 29, Robinhood was still imposing limits on the trading of GameStop, AMC, and Blackberry stocks. On January 30, Robinhood announced it had increased the restrictions from the sale of 13 securities to 50, including companies such as Rolls-Royce Holdings and Starbucks Corporation. However, on January 31, Robinhood announced it had removed several of these restrictions and would only limit the sale of eight securities.

    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.

    Despite the decline, some r/wallstreetbets users rallied to convince other users to hold on to the shares, arguing either that they would increase in value or that such an action would send a political message.
1005709934 2021-02-09T01:54:17Z 155023(0) 4821(0) 249(0)
1005710121 2021-02-09T01:55:29Z 154257(-766) 4743(-78) 248(-1) GameStop
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    if u want me to stop ban me or lock this page
1005710209 2021-02-09T01:55:58Z 155023(766) 4821(78) 249(1)
    if u want me to stop ban me or lock this page
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
1005711993 2021-02-09T02:07:42Z 155065(42) 4821(0) 249(0) See also
1005790056 2021-02-09T12:20:26Z 156320(1255) 4909(88) 251(2) Impact on involved entities
    Many retail investors and r/wallstreetbets user bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock in they were able to. As the stock prices continued to decline, many retail investors suffered significant losses.

1005790137 2021-02-09T12:21:14Z 156387(67) 4909(0) 251(0) Losses by retail investors
1005790321 2021-02-09T12:22:45Z 156086(-301) 4909(0) 251(0) Losses by retail investors
1005790447 2021-02-09T12:23:40Z 156103(17) 4909(0) 251(0) Losses by retail investors
1005790673 2021-02-09T12:25:25Z 156264(161) 4926(17) 253(2) Decline in value
    Despite the decline, some r/wallstreetbets users rallied to convince other users to hold on to the shares, arguing either that they would increase in value or that such an action would send a political message.
    Despite the decline, some r/wallstreetbets users rallied to convince other users to hold on to the shares, arguing either that they would increase in value or that such an action would send a political message. As the stock prices continued to decline, investors who held on to their shares suffered significant losses.
1005790763 2021-02-09T12:26:10Z 156264(0) 4926(0) 253(0)
1005790781 2021-02-09T12:26:14Z 156291(27) 4926(0) 253(0)
1005791351 2021-02-09T12:30:23Z 156310(19) 4926(0) 253(0) Losses by retail investors
1005807304 2021-02-09T14:32:48Z 156310(0) 4926(0) 253(0)
    Many retail investors and r/wallstreetbets user bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock in they were able to. As the stock prices continued to decline, many retail investors suffered significant losses.
    Many retail investors and r/wallstreetbets user bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses.
1005818957 2021-02-09T15:41:08Z 156311(1) 4926(0) 253(0) Losses by retail investors
    Many retail investors and r/wallstreetbets user bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses.
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses.
1005821955 2021-02-09T15:59:12Z 156269(-42) 4926(0) 253(0) Decline in value
1005843235 2021-02-09T18:14:13Z 156277(8) 4926(0) 253(0)







1005844734 2021-02-09T18:23:21Z 156269(-8) 4926(0) 253(0)







1005879401 2021-02-09T22:00:40Z 156267(-2) 4926(0) 253(0) Online discussion
1005952326 2021-02-10T06:50:11Z 156272(5) 4927(1) 253(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities increased.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities also increased.
1005952957 2021-02-10T06:55:34Z 156509(237) 4948(21) 253(0)
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum, and dozens of class action lawsuits were filed against Robinhood in U.S. courts. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Dozens of class action lawsuits were filed against Robinhood in U.S. courts, and U.S. House Committee on Financial Services chair Maxine Waters announced a congressional hearing on the incident is set for February 18. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.
1005953022 2021-02-10T06:56:07Z 156517(8) 4950(2) 253(0)
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Dozens of class action lawsuits were filed against Robinhood in U.S. courts, and U.S. House Committee on Financial Services chair Maxine Waters announced a congressional hearing on the incident is set for February 18. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased.
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Dozens of class action lawsuits were filed against Robinhood in U.S. courts, and U.S. House Committee on Financial Services chair Maxine Waters announced a congressional hearing on the incident is set for February 18. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased as well.
1005953090 2021-02-10T06:56:42Z 156517(0) 4950(0) 253(0) Gains of existing shareholders and third parties
1005978111 2021-02-10T10:50:25Z 157151(634) 4987(37) 254(1) Gains by existing shareholders and third parties
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million, exiting its position after Elon Musk tweeted "Gamestonks!". Asset manager BlackRock had a roughly 13% stake in Gamestop, which was worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to the 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million, exiting its position after Elon Musk tweeted "Gamestonks!". Asset manager BlackRock had a roughly 13% stake in Gamestop, which was worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to the 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020. Investor Michael Burry, who paved the way for the short squeeze by investing significantly in GameStop since 2019, owned 1.7 million shares by late September and exited at around $169, making a profit of approximately $250 million.
1005978281 2021-02-10T10:52:12Z 157148(-3) 4986(-1) 254(0)
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Dozens of class action lawsuits were filed against Robinhood in U.S. courts, and U.S. House Committee on Financial Services chair Maxine Waters announced a congressional hearing on the incident is set for February 18. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased as well.
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Dozens of class action lawsuits were filed against Robinhood in U.S. courts, and U.S. House Committee on Financial Services chair Maxine Waters announced a congressional hearing on the incident set for February 18. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased as well.
1005980497 2021-02-10T11:16:42Z 156514(-634) 4949(-37) 253(-1)
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million, exiting its position after Elon Musk tweeted "Gamestonks!". Asset manager BlackRock had a roughly 13% stake in Gamestop, which was worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to the 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020. Investor Michael Burry, who paved the way for the short squeeze by investing significantly in GameStop since 2019, owned 1.7 million shares by late September and exited at around $169, making a profit of approximately $250 million.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million, exiting its position after Elon Musk tweeted "Gamestonks!". Asset manager BlackRock had a roughly 13% stake in Gamestop, which was worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to the 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020.
1005981455 2021-02-10T11:26:49Z 157271(757) 4961(12) 255(2) GameStop
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued. Similarly, investor Michael Burry acquired a 3.3% stake in GameStop in mid-2019.
1005982277 2021-02-10T11:34:57Z 157541(270) 4996(35) 256(1)
    In a CNBC interview, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
    However, investor Michael Burry, who had acquired a 3.3% stake in GameStop in 2019, criticized the short squeeze, stating that "there should be legal and regulatory repercussions", and adding "this is unnatural, insane, and dangerous". In a CNBC interview, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
1006003939 2021-02-10T14:48:10Z 158945(1404) 5046(50) 259(3)
    On February 8, the U.S. Securities and Exchange Commission released a sample letter providing guidance to companies seeking to raise capital during periods of "extreme price volatility". It requires that companies outline the related risks in their financial disclosures and encourages companies to contact the SEC prior to launching such offerings.

1006013495 2021-02-10T15:56:42Z 159071(126) 5046(0) 259(0)
1006018695 2021-02-10T16:28:23Z 160250(1179) 5175(129) 260(1) Lawsuits
    The short squeeze occurred while Robinhood is also facing much graver liability. On June 20, the brokerage firm was previously sued on for the wrongful death of Alexander Keranas, 20-year-old college student who saw a negative balance of $730,000 in his trading account and mistakenly believed that was the sum of money he owed. Confused, panicked, and extremely desperate, he subsequently committed suicide. His family accused Robinhood of luring inexperienced investors like their son to make risky investments in sophisticated financial instruments such as the options trading he engaged in, without providing the necessary customer support and investment guidance. In addition to wrongful death, the Illinois family's filed complaint accused Robinhood of negligent infliction of emotional distress and unfair business practices. The damages they are seeking are to be determined.

1006019545 2021-02-10T16:33:00Z 160191(-59) 5167(-8) 260(0) Lawsuits
    The short squeeze occurred while Robinhood is also facing much graver liability. On June 20, the brokerage firm was previously sued on for the wrongful death of Alexander Keranas, 20-year-old college student who saw a negative balance of $730,000 in his trading account and mistakenly believed that was the sum of money he owed. Confused, panicked, and extremely desperate, he subsequently committed suicide. His family accused Robinhood of luring inexperienced investors like their son to make risky investments in sophisticated financial instruments such as the options trading he engaged in, without providing the necessary customer support and investment guidance. In addition to wrongful death, the Illinois family's filed complaint accused Robinhood of negligent infliction of emotional distress and unfair business practices. The damages they are seeking are to be determined.
    The short squeeze occurred while Robinhood is also facing much graver liability. On June 20, an Illinois family filed a complaint suing the brokerage firm for unfair business practices, negligent infliction of emotional distress, and the wrongful death of their son Alexander Keranas, 20-year-old college student who saw a negative balance of $730,000 in his trading account and mistakenly believed that was the sum of money he owed. Confused, panicked, and extremely desperate, he subsequently committed suicide. His family accused Robinhood of luring inexperienced investors like their son to make risky investments in sophisticated financial instruments such as the options trading he engaged in, without providing the necessary customer support and investment guidance. The damages they are seeking are to be determined.
1006021721 2021-02-10T16:44:43Z 159071(-1120) 5046(-121) 259(-1) Lawsuits
    The short squeeze occurred while Robinhood is also facing much graver liability. On June 20, an Illinois family filed a complaint suing the brokerage firm for unfair business practices, negligent infliction of emotional distress, and the wrongful death of their son Alexander Keranas, 20-year-old college student who saw a negative balance of $730,000 in his trading account and mistakenly believed that was the sum of money he owed. Confused, panicked, and extremely desperate, he subsequently committed suicide. His family accused Robinhood of luring inexperienced investors like their son to make risky investments in sophisticated financial instruments such as the options trading he engaged in, without providing the necessary customer support and investment guidance. The damages they are seeking are to be determined.

1006055806 2021-02-10T20:10:17Z 159071(0) 5046(0) 259(0) Online discussion
1006094728 2021-02-11T00:59:14Z 159075(4) 5046(0) 259(0) Online discussion
1006113799 2021-02-11T03:34:15Z 159077(2) 5046(0) 259(0)
1006206054 2021-02-11T16:51:58Z 159503(426) 5061(15) 260(1) Losses by retail investors
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses.
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses. According to The Washington Post, some r/wallstreetbets users lost an important part of their savings.
1006206595 2021-02-11T16:55:28Z 159833(330) 5061(0) 261(1) Losses by retail investors
1006208087 2021-02-11T17:04:44Z 160216(383) 5061(0) 263(2) Retaliation and protests
1006209492 2021-02-11T17:14:02Z 160404(188) 5088(27) 264(1)
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53 percent of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets.
    On February 1, GameStop short interests fell to 39 percent of free-floating shares, from 114 percent in mid-January, according to IHS Markit. The data was described by Bloomberg News as "potentially an early sign that the short squeeze that propelled GameStop... has progressed."
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53 percent of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets. On February 1, GameStop short interests fell to 39 percent of free-floating shares, from 114 percent in mid-January, according to IHS Markit. The data was described by Bloomberg News as "potentially an early sign that the short squeeze that propelled GameStop... has progressed."
    According to the New York Times, the viability of short selling as an investment strategy has been called in question as a result of the short squeeze.
1006209828 2021-02-11T17:16:03Z 160404(0) 5088(0) 264(0) Retaliation and protests
1006210425 2021-02-11T17:20:05Z 160787(383) 5063(-25) 261(-3)
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase.Cite error: A tag is missing the closing (see the help page).
    noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
1006210562 2021-02-11T17:20:54Z 160789(2) 5088(25) 266(5) Halting of stock purchases
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase.Cite error: A tag is missing the closing (see the help page).
    noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
    Several brokerage firms, including Robinhood, stated on January 29 that the restrictions were the result of clearing houses raising the required collateral for executing trades. Because there is a two-day lag between the moment when investors purchase a security and the moment cash and securities are actually exchanged, brokerage firms have to post collateral at clearing houses to guarantee the proper settlement of their clients' orders. Clearing houses include the Depository Trust & Clearing Corporation (DTCC) for equities and the Options Clearing Corporation (OCC) for options. Clearing houses must have enough collateral on hand to settle a member's outstanding transactions in the event any particular member firm fails—to prevent cascading failures of other members—and can demand additional collateral (i.e., margin calls) from members if market volatility starts to increase. Brokerage firms claimed that the increased collateral could not be provided in time, and, as a result, trading had to be halted. The DTCC, for instance, increased the total industrywide collateral requirements from $26 billion to $33.5 billion, noting that the large trading volumes in specific stocks "generated substantial risk exposures at firms that clear these trades [...] particularly if the clearing member or its clients are predominantly on one side of the market". On January 29, it was reported that Robinhood had raised an additional $1 billion to protect the company from the financial pressure placed by the increased interest in particular stocks and meet the collateral requirements of clearing houses.
1006213173 2021-02-11T17:37:28Z 161439(650) 5138(50) 267(1) Online discussion
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.

    In addition to Keith Gill, user "Stonksflyingup" posted on October 27, 2020 a humorous video explaining how a short position by Melvin Capital could be used to execute a short squeeze, using a scene from Chernobyl to illustrate how the hedge fund would blow up similarly to a nuclear reactor.
1006213321 2021-02-11T17:38:19Z 161471(32) 5138(0) 268(1) Losses by short sellers
1006213405 2021-02-11T17:38:44Z 161471(0) 5138(0) 268(0) Losses by short sellers
1006213492 2021-02-11T17:39:18Z 161479(8) 5138(0) 268(0) Losses by retail investors
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses. According to The Washington Post, some r/wallstreetbets users lost an important part of their savings.
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses. According to The Washington Post, some r/wallstreetbets users lost an important part of their savings.
1006214769 2021-02-11T17:47:10Z 161479(0) 5138(0) 268(0) Losses by retail investors
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses. According to The Washington Post, some r/wallstreetbets users lost an important part of their savings.
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses. According to The Washington Post, some r/wallstreetbets users lost an important part of their savings.
1006216185 2021-02-11T17:55:59Z 162116(637) 5176(38) 270(2) Gains by existing shareholders and third parties
    An analysis by Reuters concluded that due to the events that unfolded, some of Wall Street's largest asset managers were able to realize gains both from their share stakes, as well as from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers.
    While the short squeeze was initially reported as being driven by retail investors, it later emerged that a substantial part of the market activity surrounding GameStop and the related securities was conducted by hedge funds, who had made substantial profits from the short squeeze. An analysis by Reuters concluded that some of Wall Street's largest asset managers were able to realize gains both from their share stakes, as well as from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers.
1006216701 2021-02-11T17:58:54Z 162172(56) 5184(8) 270(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities also increased.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities also increased.
1006217131 2021-02-11T18:01:23Z 162169(-3) 5184(0) 270(0)
1006217172 2021-02-11T18:01:34Z 162175(6) 5184(0) 270(0)
1006217888 2021-02-11T18:05:40Z 162192(17) 5188(4) 270(0) Companies with increased stock value
    Since January 1, executives at BlackBerry and GameStop have sold more than $22 million in stock. There is no allegation of insider trading among BlackBerry executives, according to CBS News. Three BlackBerry executives sold nearly $1.7 million of the company's stock, with one of the executives, Chief Financial Officer Steve Rai, selling all of his shares in the company excepting unvested employee stock options.
    As of January 31, executives at BlackBerry and GameStop have sold more than $22 million in stock since January 1. There is no allegation of insider trading among BlackBerry executives, according to CBS News. Three BlackBerry executives sold nearly $1.7 million of the company's stock, with one of the executives, Chief Financial Officer Steve Rai, selling all of his shares in the company excepting unvested employee stock options.
1006217936 2021-02-11T18:05:57Z 162191(-1) 5188(0) 270(0) Companies with increased stock value
    As of January 31, executives at BlackBerry and GameStop have sold more than $22 million in stock since January 1. There is no allegation of insider trading among BlackBerry executives, according to CBS News. Three BlackBerry executives sold nearly $1.7 million of the company's stock, with one of the executives, Chief Financial Officer Steve Rai, selling all of his shares in the company excepting unvested employee stock options.
    As of January 31, executives at BlackBerry and GameStop had sold more than $22 million in stock since January 1. There is no allegation of insider trading among BlackBerry executives, according to CBS News. Three BlackBerry executives sold nearly $1.7 million of the company's stock, with one of the executives, Chief Financial Officer Steve Rai, selling all of his shares in the company excepting unvested employee stock options.
1006222434 2021-02-11T18:32:17Z 162190(-1) 5188(0) 270(0)
    In February 2021, it was announced that Netflix had plans to develop a movie based off the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal The Antisocial Network, aimed at chronicling the recent events on Wall Street. A limited-run series based on the events titled To the Moon was also announced. Jaime Rogozinski, who founded r/wallstreetbets in 2012, sold the rights to his life story to RatPac Entertainment, and a documentary based on the event, created by the studios XTR and The Optimist and partially funded by a Kickstarter campaign, is also in the works. HBO is also currently in development of a scripted film about the events from executive producers Andrew Ross Sorkin, Jason Blum, and Len Amato.
    In February 2021, it was announced that Netflix had plans to develop a movie based on the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal The Antisocial Network, aimed at chronicling the recent events on Wall Street. A limited-run series based on the events titled To the Moon was also announced. Jaime Rogozinski, who founded r/wallstreetbets in 2012, sold the rights to his life story to RatPac Entertainment, and a documentary based on the event, created by the studios XTR and The Optimist and partially funded by a Kickstarter campaign, is also in the works. HBO is also currently in development of a scripted film about the events from executive producers Andrew Ross Sorkin, Jason Blum, and Len Amato.
1006228777 2021-02-11T19:08:29Z 162091(-99) 5188(0) 270(0)
1006229612 2021-02-11T19:14:11Z 162180(89) 5188(0) 270(0) Online discussion
1006231571 2021-02-11T19:27:02Z 162129(-51) 5182(-6) 270(0)
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other brokerages soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.
    While the short squeeze was initially reported as being driven by retail investors, it later emerged that a substantial part of the market activity surrounding GameStop and the related securities was conducted by hedge funds, who had made substantial profits from the short squeeze. An analysis by Reuters concluded that some of Wall Street's largest asset managers were able to realize gains both from their share stakes, as well as from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers.
    In a CNBC interview, Reddit co-founder Alexis Ohanian compared the rally to Occupy Wall Street, saying that "it's a chance for Joe and Jane America—the retail buyers of stock—to flex back and push back on these hedge funds." Numerous journalists have also drawn comparison to the Occupy movement. Similar sentiments sympathetic for the retail investors were expressed by billionaire investors Mark Cuban and Chamath Palihapitiya. Palihapitiya, who passed on early investment opportunities in Robinhood, opined that the founding co-CEOs, Baiju Bhatt and Vladimir Tenev, lacked integrity and urged his followers to "#DeleteRobinhood". OpenAI CEO Sam Altman suggested the company change its name. SpaceX and Tesla CEO Elon Musk also criticized the general practice of stock shorting, calling it a "scam legal only for vestigial reasons" A number of major hedge funds had previously shorted Tesla, incurring losses of more than $40 billion as the stock rose considerably.
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Yellen convened a meeting of financial regulators, including the heads of the Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting. The regulators were not seen as likely to view the volatility as creating any systemic risks. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other brokerages soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.
    While the short squeeze was initially reported as being driven by retail investors, it later emerged that a substantial part of the market activity surrounding GameStop and the related securities was conducted by hedge funds, who had made substantial profits from the short squeeze. An analysis by Reuters concluded that some of Wall Street's largest asset managers were able to realize gains both from their share stakes, as well as from lending out stocks to short sellers. Similarly, an analysis by investment bank JP Morgan Chase suggested that institutional investors were heavily involved in the trading activity related to the short squeeze. Brokerages, trading systems and market makers have also gained from higher-than-average volume of transfers.
    In a CNBC interview, Reddit co-founder Alexis Ohanian compared the rally to Occupy Wall Street, saying that "it's a chance for Joe and Jane America—the retail buyers of stock—to flex back and push back on these hedge funds." Numerous journalists have also drawn comparison to the Occupy movement. Similar sentiments sympathetic for the retail investors were expressed by billionaire investors Mark Cuban and Chamath Palihapitiya. Palihapitiya, who passed on early investment opportunities in Robinhood, opined that the founding co-CEOs, Baiju Bhatt and Vladimir Tenev, lacked integrity and urged his followers to "#DeleteRobinhood". OpenAI CEO Sam Altman suggested the company change its name. SpaceX and Tesla CEO Elon Musk also criticized the general practice of stock shorting, calling it a "scam legal only for vestigial reasons" A number of major hedge funds had previously shorted Tesla, incurring losses of more than $40 billion as the stock rose considerably.
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Yellen convened a meeting of financial regulators, including the heads of the Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting. The regulators were not seen as likely to view the volatility as creating any systemic risks. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
1006231692 2021-02-11T19:27:57Z 162988(859) 5182(0) 271(1) Timeline
1006270347 2021-02-12T00:09:36Z 163032(44) 5182(0) 271(0) Metal futures
    Following the stock market surge, futures for silver began to rapidly increase as well, although later news reports clarified that it was unclear who was behind the rise. On January 28 and 29, the price of silver rose 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading being halted at least once as the price fell by double-digit percentages. Users on r/wallstreetbets deny involvement in the increasing price of silver, instead blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
    Following the stock market surge, futures for silver began to rapidly increase as well, although later news reports clarified that it was unclear who was behind the rise. On January 28 and 29, the price of silver rose 10 percent. The surge also had an effect on the prices of gold and copper on the London Metal Exchange. On February 1, the price of silver hit an eight-year high as GameStop shares continued their volatile tendency, with trading[which?] being halted at least once as the price fell by double-digit percentages. Users on r/wallstreetbets deny involvement in the increasing price of silver, instead blaming the increase on institutions and hedge funds with positions in silver, such as Citadel, seeking to offset losses on GameStop.
1006273454 2021-02-12T00:33:13Z 163051(19) 5182(0) 271(0)
1006284468 2021-02-12T02:01:00Z 163055(4) 5183(1) 271(0) Background
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet-food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued. Similarly, investor Michael Burry acquired a 3.3% stake in GameStop in mid-2019.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued. Similarly, investor Michael Burry acquired a 3.3% stake in GameStop in mid-2019.
1006285254 2021-02-12T02:05:37Z 163041(-14) 5181(-2) 271(0) Online discussion
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on the subreddit r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
1006285507 2021-02-12T02:07:31Z 163025(-16) 5177(-4) 271(0) Online discussion
    In addition to Keith Gill, user "Stonksflyingup" posted on October 27, 2020 a humorous video explaining how a short position by Melvin Capital could be used to execute a short squeeze, using a scene from Chernobyl to illustrate how the hedge fund would blow up similarly to a nuclear reactor.
    Another user, "Stonksflyingup," posted a humorous video on October 27, 2020, explaining how a short position by Melvin Capital could be used to execute a short squeeze, using a scene from Chernobyl to illustrate how the hedge fund would blow up similarly to a nuclear reactor.
1006285631 2021-02-12T02:08:33Z 163037(12) 5179(2) 271(0) Online discussion
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    On January 27, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/wallstreetbets was the fastest-growing subreddit – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, 2021, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    On January 27, 2021, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/wallstreetbets was the fastest-growing subreddit – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
1006285703 2021-02-12T02:09:10Z 163049(12) 5182(3) 271(0) Online discussion
    On January 27, 2021, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/wallstreetbets was the fastest-growing subreddit – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
    On January 27, 2021, technology news website Mashable reported that the subreddit had broken pageview records due to the short squeeze, receiving 73 million pageviews in 24 hours. r/wallstreetbets was the fastest-growing subreddit at the time – the community surged by more than 1.5 million users overnight (to a total of 6 million members) on January 29.
1006286323 2021-02-12T02:14:38Z 163048(-1) 5182(0) 271(0) Rise in stock price and volume
    On January 27, r/wallstreetbets triggered a short squeeze on AMC Theatres (ticker symbol: AMC), a company in a similar position to GameStop. The value of AMC Networks (ticker symbol: AMCX) also increased significantly, which was believed to have happened because of the stock's name being similar to AMC's. Disruptions and restrictions limiting trade have been reported on multiple brokerages such as Charles Schwab Corporation, its subsidiary, TD Ameritrade, and Robinhood. According to Bloomberg, US trading volumes (by share count) on January 27 exceeded the peak set in October 2008 during the financial crisis, and was the third-highest in dollar terms within the last 13 years on record.
    On January 27, r/wallstreetbets triggered a short squeeze on AMC Theatres (ticker symbol: AMC), a company in a similar position to GameStop. The value of AMC Networks (ticker symbol: AMCX) also increased significantly, which was believed to have happened because of the stock's name being similar to AMC's. Disruptions and restrictions limiting trade have been reported on multiple brokerages such as Charles Schwab Corporation, its subsidiary TD Ameritrade, and Robinhood. According to Bloomberg, US trading volumes (by share count) on January 27 exceeded the peak set in October 2008 during the financial crisis, and was the third-highest in dollar terms within the last 13 years on record.
1006286384 2021-02-12T02:15:05Z 163072(24) 5182(0) 271(0) Rise in stock price and volume
1006286468 2021-02-12T02:15:43Z 163074(2) 5182(0) 271(0) Rise in stock price and volume
    On January 27, r/wallstreetbets triggered a short squeeze on AMC Theatres (ticker symbol: AMC), a company in a similar position to GameStop. The value of AMC Networks (ticker symbol: AMCX) also increased significantly, which was believed to have happened because of the stock's name being similar to AMC's. Disruptions and restrictions limiting trade have been reported on multiple brokerages such as Charles Schwab Corporation, its subsidiary TD Ameritrade, and Robinhood. According to Bloomberg, US trading volumes (by share count) on January 27 exceeded the peak set in October 2008 during the financial crisis, and was the third-highest in dollar terms within the last 13 years on record.
    On January 27, r/wallstreetbets triggered a short squeeze on AMC Theatres (ticker symbol: AMC), a company in a similar position to GameStop. The value of AMC Networks (ticker symbol: AMCX) also increased significantly, which was believed to have happened because of the stock's name being similar to AMC's. Disruptions and restrictions limiting trade have been reported on multiple brokerages such as Charles Schwab Corporation, its subsidiary TD Ameritrade, and Robinhood. According to Bloomberg, U.S. trading volumes (by share count) on January 27 exceeded the peak set in October 2008 during the financial crisis, and was the third-highest in dollar terms within the last 13 years on record.
1006287271 2021-02-12T02:23:08Z 163073(-1) 5182(0) 271(0) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze, and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.
1006288016 2021-02-12T02:29:12Z 163102(29) 5182(0) 271(0) Retaliation and protests
    The Wall Street Journal reported that short seller and Citron Research editor Andrew Left was being targeted online, including an incident where Left's social media accounts were hacked to text his children "threatening, profane and personal language". Several financial executives hired additional security due to online threats. Gabe Plotkin of Melvin Capital hired security after facing anti-semitic slurs and threats. Steve Cohen canceled his Twitter account after threats to his family.
    The Wall Street Journal reported that short seller and Citron Research editor Andrew Left was being targeted online, including an incident where Left's social media accounts were hacked to text his children "threatening, profane and personal language". Several financial executives hired additional security due to online threats. Gabe Plotkin of Melvin Capital hired security after facing anti-semitic slurs and threats. Steve Cohen deleted his Twitter account after threats to his family.
1006288732 2021-02-12T02:35:20Z 163670(568) 5212(30) 272(1) Retaliation and protests
    Disgruntled users review-bombed the Robinhood app on the Google Play Store after it halted the trading of GameStop securities, pushing its ratings down to one star. Google deleted at least 100,000 such reviews, calling them "coordinated or inorganic". However, after another round of negative reviews on the app dropping it to a 1.1-star rating, Google confirmed that the new reviews do not violate Google policies and will not be removed. Protesters also showed up outside Robinhood headquarters in Menlo Park, California, at the Securities and Exchange Commission headquarters in Washington, D.C., and the New York Stock Exchange.
    Disgruntled users review-bombed the Robinhood app on the Google Play Store after it halted the trading of GameStop securities, pushing its ratings down to one star. Google deleted at least 100,000 such reviews, calling them "coordinated or inorganic". However, after another round of negative reviews on the app dropping it to a 1.1-star rating, Google confirmed that the new reviews do not violate Google policies and will not be removed. Protesters also showed up outside Robinhood headquarters in Menlo Park, California, at the Securities and Exchange Commission headquarters in Washington, D.C., and the New York Stock Exchange. Menlo Park police reported ten separate incidents related to protests at Robinhood headquarters from January 28 to February 9, including a man throwing animal feces at the building's front door.
1006293389 2021-02-12T03:12:03Z 163679(9) 5212(0) 272(0)
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as their were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses. According to The Washington Post, some r/wallstreetbets users lost an important part of their savings.
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as they were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses. According to The Washington Post, some r/wallstreetbets users lost an important part of their savings.
1006294874 2021-02-12T03:22:15Z 163692(13) 5212(0) 272(0) Reactions
1006380446 2021-02-12T15:57:17Z 163701(9) 5212(0) 272(0) Timeline
1006386095 2021-02-12T16:31:50Z 163681(-20) 5212(0) 272(0) Losses by short sellers
1006458022 2021-02-13T00:22:57Z 162973(-708) 5212(0) 271(-1) Cryptocurrencies
1006575338 2021-02-13T16:51:42Z 162959(-14) 5212(0) 271(0)
1006576949 2021-02-13T17:02:13Z 162954(-5) 5212(0) 271(0)
1006583909 2021-02-13T17:49:09Z 162632(-322) 5212(0) 271(0)
1006583965 2021-02-13T17:49:28Z 162336(-296) 5212(0) 271(0)
1006608378 2021-02-13T20:28:58Z 162356(20) 5212(0) 271(0)
1006617958 2021-02-13T21:26:50Z 162957(601) 5263(51) 273(2) Short selling and short squeezes
    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the last 10 years. In fact, before the GameStop short squeeze, many market participants thought that shorting more than 100% of a stock was impossible.

1006618114 2021-02-13T21:27:52Z 162963(6) 5264(1) 273(0) Short selling and short squeezes
    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the last 10 years. In fact, before the GameStop short squeeze, many market participants thought that shorting more than 100% of a stock was impossible.
    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the last 10 years. In fact, before the GameStop short squeeze, even many market professionals thought that shorting more than 100% of a stock was impossible.
1006618250 2021-02-13T21:28:42Z 162980(17) 5266(2) 273(0) Short selling and short squeezes
    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the last 10 years. In fact, before the GameStop short squeeze, even many market professionals thought that shorting more than 100% of a stock was impossible.
    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the 10 years preceding this event.. In fact, before the GameStop short squeeze, even many market professionals thought that shorting more than 100% of a stock was impossible.
1006705384 2021-02-14T09:31:03Z 162981(1) 5279(13) 276(3) Investigations
    Representative Maxine Waters announced that the House Financial Services Committee would convene a hearing entitled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide to educate Congress. Witnesses at the hearing, scheduled for February 18, will include Vladimir Tenev, Robinhood's CEO, along with Keith Gill.[needs update]
    Representative Maxine Waters announced that the House Financial Services Committee would convene a hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18, will include Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, and Robinhood CEO Vladimir Tenev.[needs update]
1006705464 2021-02-14T09:31:58Z 163004(23) 5279(0) 276(0) Investigations
1006760841 2021-02-14T17:31:43Z 163054(50) 5279(0) 276(0)
1006767248 2021-02-14T18:10:12Z 162928(-126) 5250(-29) 276(0) Background
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. However, in September 2020, Ryan Cohen (the former CEO of online pet food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued. Similarly, investor Michael Burry acquired a 3.3% stake in GameStop in mid-2019.

    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the 10 years preceding this event.. In fact, before the GameStop short squeeze, even many market professionals thought that shorting more than 100% of a stock was impossible.

    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. On January 22, 2021, approximately 140 percent of GameStop's public float[a] had been sold short, meaning some shorted shares had been re-lent and shorted again. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. On January 22, 2021, approximately 140 percent of GameStop's public float[a] had been sold short, meaning some shorted shares had been re-lent and shorted again. Analysts at Goldman Sachs later noted that short interest exceeding 100% of a company's public had only occurred 15 times in the prior 10 years.

    However, in September 2020, Ryan Cohen (the former CEO of online pet food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued. Similarly, investor Michael Burry acquired a 3.3% stake in GameStop in mid-2019.
    The subreddit r/wallstreetbets is an online community on Reddit, a social news website. The community is known for discussion around high-risk stock transactions. Observers congregating around r/wallstreetbets believed the company was being significantly undervalued, and with such a large amount of the shares being short they could trigger a short squeeze, by driving up the price to the point where short sellers had to capitulate and cover their positions at large losses.
1006826519 2021-02-15T00:45:45Z 162844(-84) 5250(0) 276(0) Reactions

    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Yellen convened a meeting of financial regulators, including the heads of the Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting. The regulators were not seen as likely to view the volatility as creating any systemic risks. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".

    Attorney General of New York Letitia James confirmed in a press release that her office would look into the matter, saying "We are aware of concerns raised regarding activity on the Robinhood app, including trading related to the GameStop stock".

    Texas Attorney General Ken Paxton said he would also investigate the decision of brokerages to limit the buying of securities related to GameStop and other stocks, saying that it "stinks of corruption". His investigation has extended to 13 entities, including Discord, Robinhood, the trading platforms Interactive Brokers and TD Ameritrade, and Citadel Financial.

    On January 29, the U.S. Securities and Exchange Commission announced it was reviewing the incident with the aims "to protect retail investors" from "abusive or manipulative trading activity" and "to identify and pursue potential wrongdoing".

    Representative Maxine Waters announced that the House Financial Services Committee would convene a hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18, will include Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, and Robinhood CEO Vladimir Tenev.[needs update]
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Yellen convened a meeting of financial regulators, including the heads of the Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting. The regulators were not seen as likely to view the volatility as creating any systemic risks. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".

    On January 29, the U.S. Securities and Exchange Commission announced it was reviewing the incident with the aims "to protect retail investors" from "abusive or manipulative trading activity" and "to identify and pursue potential wrongdoing".

    Representative Maxine Waters announced that the House Financial Services Committee would convene a hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18, will include Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, and Robinhood CEO Vladimir Tenev.

    Attorney General of New York Letitia James confirmed in a press release that her office would look into the matter, saying "We are aware of concerns raised regarding activity on the Robinhood app, including trading related to the GameStop stock".

    Texas Attorney General Ken Paxton said he would also investigate the decision of brokerages to limit the buying of securities related to GameStop and other stocks, saying that it "stinks of corruption". His investigation has extended to 13 entities, including Discord, Robinhood, the trading platforms Interactive Brokers and TD Ameritrade, and Citadel Financial.
    [needs update]

1006827034 2021-02-15T00:49:09Z 162824(-20) 5250(0) 276(0) Regulation

    On February 8, the U.S. Securities and Exchange Commission released a sample letter providing guidance to companies seeking to raise capital during periods of "extreme price volatility". It requires that companies outline the related risks in their financial disclosures and encourages companies to contact the SEC prior to launching such offerings.
    On February 8, the U.S. Securities and Exchange Commission released a sample letter providing guidance to companies seeking to raise capital during periods of "extreme price volatility". It requires that companies outline the related risks in their financial disclosures and encourages companies to contact the SEC prior to launching such offerings.

1006827804 2021-02-15T00:54:33Z 162838(14) 5250(0) 276(0) Investigations and regulations
    On January 29, the U.S. Securities and Exchange Commission announced it was reviewing the incident with the aims "to protect retail investors" from "abusive or manipulative trading activity" and "to identify and pursue potential wrongdoing".



    On January 29, the U.S. Securities and Exchange Commission announced it was reviewing the incident with the aims "to protect retail investors" from "abusive or manipulative trading activity" and "to identify and pursue potential wrongdoing".
1006875040 2021-02-15T08:08:49Z 162099(-739) 5229(-21) 273(-3) Rise in stock price and volume
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the low of $2.57 reached 9 months earlier in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.
    A brief, sharp rise in the share price to over $200 followed a tweet by Elon Musk. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the low of $2.57 reached 9 months earlier in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.
1006902546 2021-02-15T12:36:12Z 162055(-44) 5229(0) 273(0) See also
1006903742 2021-02-15T12:48:43Z 162034(-21) 5229(0) 273(0)
    On February 8, the U.S. Securities and Exchange Commission released a sample letter providing guidance to companies seeking to raise capital during periods of "extreme price volatility". It requires that companies outline the related risks in their financial disclosures and encourages companies to contact the SEC prior to launching such offerings.

    A Robinhood customer filed a class-action lawsuit against the company on January 28 for halting trading on GameStop. The lawsuit, which was filed in the United States District Court for the Southern District of New York, claimed that Robinhood "purposefully, willfully, and knowingly removing the stock 'GME' from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market"; the lawsuit also accused Robinhood of "manipulating the open-market". Several other investors began using the app DoNotPay to automatically join the lawsuit.

    A second class-action was filed in the Northern District of Illinois claiming that Robinhood's decision to halt trades of BlackBerry, Nokia and AMC was made "to protect institutional investment at the detriment of retail customers". Similarly, a man in Colorado filed a federal lawsuit against Robinhood as well as Citadel, Charles Schwab, Interactive Brokers, Open to the Public Investing, TD Ameritrade, and Webull, alleging he "was forced into a situation by which he was essentially forced to sale his equities at a drastically reduced position given the new market condition set by these supposedly neutral brokerage houses, taking significant losses and being incapable of trading in these publicly held equities that he had performed significant due diligence and research on, and relied upon over the course of his job as a day trader."

    As of February 2, Robinhood was facing 34 separate class-action lawsuits.

    A Robinhood customer filed a class-action lawsuit against the company on January 28 for halting trading on GameStop. The lawsuit, which was filed in the United States District Court for the Southern District of New York, claimed that Robinhood "purposefully, willfully, and knowingly removing the stock 'GME' from its trading platform in the midst of an unprecedented stock rise thereby deprived retail investors of the ability to invest in the open-market"; the lawsuit also accused Robinhood of "manipulating the open-market". Several other investors began using the app DoNotPay to automatically join the lawsuit.

    A second class-action was filed in the Northern District of Illinois claiming that Robinhood's decision to halt trades of BlackBerry, Nokia and AMC was made "to protect institutional investment at the detriment of retail customers". Similarly, a man in Colorado filed a federal lawsuit against Robinhood as well as Citadel, Charles Schwab, Interactive Brokers, Open to the Public Investing, TD Ameritrade, and Webull, alleging he "was forced into a situation by which he was essentially forced to sale his equities at a drastically reduced position given the new market condition set by these supposedly neutral brokerage houses, taking significant losses and being incapable of trading in these publicly held equities that he had performed significant due diligence and research on, and relied upon over the course of his job as a day trader."

    As of February 2, Robinhood was facing 34 separate class-action lawsuits.

    On February 8, the U.S. Securities and Exchange Commission released a sample letter providing guidance to companies seeking to raise capital during periods of "extreme price volatility". It requires that companies outline the related risks in their financial disclosures and encourages companies to contact the SEC prior to launching such offerings.
1006913523 2021-02-15T14:10:53Z 163162(1128) 5279(50) 274(1) Short selling and short squeezes
    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the last 10 years.In fact, before the GameStop short squeeze, many market participants thought that shorting more than 100% of a stock was impossible.

1006914042 2021-02-15T14:15:13Z 162034(-1128) 5229(-50) 273(-1)
    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the last 10 years.In fact, before the GameStop short squeeze, many market participants thought that shorting more than 100% of a stock was impossible.

1006914077 2021-02-15T14:15:42Z 163162(1128) 5279(50) 274(1)
    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the last 10 years.In fact, before the GameStop short squeeze, many market participants thought that shorting more than 100% of a stock was impossible.

1006915361 2021-02-15T14:27:17Z 162034(-1128) 5229(-50) 273(-1)
    Short interest was unusually high in GameStop stock, with short interest reaching 140%. Short interest levels have only exceeded 100% of ANY company’s float 15 times in the last 10 years.In fact, before the GameStop short squeeze, many market participants thought that shorting more than 100% of a stock was impossible.

1006937248 2021-02-15T16:59:13Z 162051(17) 5229(0) 273(0)
1006937809 2021-02-15T17:02:49Z 162790(739) 5250(21) 276(3)
    A brief, sharp rise in the share price to over $200 followed a tweet by Elon Musk. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the low of $2.57 reached 9 months earlier in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.
    After GameStop's stock closed up 92.7 percent on January 26, business magnate Elon Musk tweeted "Gamestonk!!"[b] along with a link to the r/wallstreetbets subreddit. A brief, sharp rise in the share price to over $200 followed Musk's tweet. As of January 28, 2021[update], the all-time highest intraday stock price for GameStop was $483.00 (nearly 190 times the low of $2.57 reached 9 months earlier in April 2020). In pre-market trading hours the same day, it briefly hit over $500, up from $17.25 at the start of the month.
1006952857 2021-02-15T18:37:09Z 162894(104) 5250(0) 276(0) GameStop
1006953807 2021-02-15T18:42:44Z 163194(300) 5246(-4) 277(1) Losses by retail investors
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as they were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses. According to The Washington Post, some r/wallstreetbets users lost an important part of their savings.
    Many retail investors and r/wallstreetbets users bought shares of GameStop and other affected securities as they were reaching their peak prices or shortly afterwards. Other investors held onto their long positions while the stock prices were declining rapidly, amid widespread calls on r/wallstreetbets to hang on to the failing shares. In an "ask me anything session" on r/wallstreetbets, entrepreneur Mark Cuban also encouraged GameStop buyers to hold on to their stock if they were able to. As the stock prices continued to decline, many retail investors suffered significant losses, with some r/wallstreetbets users losing an important part of their savings.
1006955509 2021-02-15T18:53:05Z 163733(539) 5257(11) 280(3) Decline in value
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients. The short squeezed securities's prices continued to decline during the week.
1006955906 2021-02-15T18:55:19Z 164282(549) 5257(0) 280(0) Rise in stock price and volume
1006956801 2021-02-15T18:59:57Z 164304(22) 5257(0) 280(0)
1006968377 2021-02-15T20:05:24Z 164358(54) 5261(4) 280(0) Decline in value
    Despite the decline, some r/wallstreetbets users rallied to convince other users to hold on to the shares, arguing either that they would increase in value or that such an action would send a political message. As the stock prices continued to decline, investors who held on to their shares suffered significant losses.
    Despite the decline, some r/wallstreetbets users rallied to convince other users to hold on to the shares, arguing either that they would increase in value or that such an action would send a political message. As the stock prices continued to decline, some of the recent investors held on to their shares, and suffered significant losses.
1007076675 2021-02-16T10:09:41Z 163490(-868) 5261(0) 279(-1) Rise in stock price and volume
1007077305 2021-02-16T10:12:24Z 163473(-17) 5261(0) 279(0) Aftermath
1007077641 2021-02-16T10:13:53Z 163468(-5) 5261(0) 279(0)
    Another user, "Stonksflyingup," posted a humorous video on October 27, 2020, explaining how a short position by Melvin Capital could be used to execute a short squeeze, using a scene from Chernobyl to illustrate how the hedge fund would blow up similarly to a nuclear reactor.

    Another user, "Stonksflyingup", posted a humorous video on October 27, 2020, explaining how a short position by Melvin Capital could be used to execute a short squeeze, using a scene from Chernobyl to illustrate how the hedge fund would blow up similarly to a nuclear reactor.
1007082895 2021-02-16T10:59:36Z 164336(868) 5261(0) 280(1)
1007095005 2021-02-16T12:50:22Z 164309(-27) 5261(0) 280(0)
1007107830 2021-02-16T14:24:18Z 164389(80) 5261(0) 280(0)
1007107872 2021-02-16T14:24:40Z 164388(-1) 5261(0) 280(0) Background
1007124076 2021-02-16T15:55:45Z 164401(13) 5263(2) 280(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities also increased.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities should have taken place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities also increased.
1007126325 2021-02-16T16:08:37Z 164388(-13) 5261(-2) 280(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities should have taken place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities also increased.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities also increased.
1007190473 2021-02-16T22:19:48Z 164440(52) 5269(8) 280(0) Rise in stock price and volume
    In conjunction with the short squeeze, the resulting increase in options volume triggered a gamma squeeze as a result of market makers needing to buy shares to hedge their increasingly short exposure.
    In conjunction with the short squeeze, the resulting increase in options volume triggered a gamma squeeze as a result of market makers needing to buy shares to hedge their increasing short gamma exposure (from options previously sold to other parties).
1007256457 2021-02-17T05:02:33Z 164653(213) 5301(32) 280(0) Halting of stock purchases
    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other brokerages soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.
    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other brokerages soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. eToro also created stop-losses on GME positions, without notifying its users, and removed the ability to alter or delete the stop-loss, triggering an artificial decline in value as the stop-losses were triggered. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.
1007297519 2021-02-17T10:48:50Z 164440(-213) 5269(-32) 280(0)
    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other brokerages soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. eToro also created stop-losses on GME positions, without notifying its users, and removed the ability to alter or delete the stop-loss, triggering an artificial decline in value as the stop-losses were triggered. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.
    On January 28, Robinhood halted purchases of GameStop, AMC Theatres, BlackBerry Limited, Nokia Corporation, and other volatile stocks from its trading platform; customers could no longer open new positions in the stock, although they could still close them. Other brokerages soon followed suit. Many traders were furious, and called for class-action lawsuits in multiple popular Reddit posts. After the markets closed, Robinhood announced it would begin to allow "limited buys" of the affected securities starting the following day, although it was unclear what "limited buys" entailed. Trading platforms such as UK-based Trading212 and Israel-based eToro blocked buys of GameStop and other stock while continuing to allow sales. Webull halted buy orders for stocks affected by the squeeze, but soon thereafter allowed orders to continue. Anthony Denier, the CEO of Webull, stated that increased collateral requirements for their clearing house meant Webull themselves were restricted from opening new positions. Some users alleged that Robinhood was selling shares without consent; Robinhood denied these allegations.
1007297849 2021-02-17T10:52:11Z 164470(30) 5270(1) 280(0) Rise in stock price and volume
    In conjunction with the short squeeze, the resulting increase in options volume triggered a gamma squeeze as a result of market makers needing to buy shares to hedge their increasing short gamma exposure (from options previously sold to other parties).
    In conjunction with the short squeeze, the resulting increase in options volume triggered a gamma squeeze as a result of market makers needing to buy shares to hedge their increasing short gamma exposure (from options previously sold to other parties).[clarification needed]
1007390643 2021-02-17T22:02:38Z 165091(621) 5338(68) 281(1)
    A second class-action was filed in the Northern District of Illinois claiming that Robinhood's decision to halt trades of BlackBerry, Nokia and AMC was made "to protect institutional investment at the detriment of retail customers". Similarly, a man in Colorado filed a federal lawsuit against Robinhood as well as Citadel, Charles Schwab, Interactive Brokers, Open to the Public Investing, TD Ameritrade, and Webull, alleging he "was forced into a situation by which he was essentially forced to sale his equities at a drastically reduced position given the new market condition set by these supposedly neutral brokerage houses, taking significant losses and being incapable of trading in these publicly held equities that he had performed significant due diligence and research on, and relied upon over the course of his job as a day trader."
    As of February 2, Robinhood was facing 34 separate class-action lawsuits.
    A second class-action was filed in the Northern District of Illinois claiming that Robinhood's decision to halt trades of BlackBerry, Nokia and AMC was made "to protect institutional investment at the detriment of retail customers". Similarly, a man in Colorado filed a federal lawsuit against Robinhood as well as Citadel, Charles Schwab, Interactive Brokers, Open to the Public Investing, TD Ameritrade, and Webull, alleging he "was forced into a situation by which he was essentially forced to sale his equities at a drastically reduced position given the new market condition set by these supposedly neutral brokerage houses, taking significant losses and being incapable of trading in these publicly held equities that he had performed significant due diligence and research on, and relied upon over the course of his job as a day trader." As of February 2, Robinhood was facing 34 separate class-action lawsuits.
    A lawsuit was filed in a court in Massachusetts by securities class action firm Hagens Berman Sobol Shapiro on behalf of an investor against Keith Gill. The investor sold $200,000 of call options when they were worth under call options $100 a share and was forced to buy them back much later. The suit alleges Gill misreprestented himself as an amateur investor to inflate the stock price.
1007395762 2021-02-17T22:41:08Z 165107(16) 5338(0) 281(0)
1007400489 2021-02-17T23:18:15Z 165320(213) 5311(-27) 282(1) Lawsuits
    A lawsuit was filed in a court in Massachusetts by securities class action firm Hagens Berman Sobol Shapiro on behalf of an investor against Keith Gill. The investor sold $200,000 of call options when they were worth under call options $100 a share and was forced to buy them back much later. The suit alleges Gill misreprestented himself as an amateur investor to inflate the stock price.
    A lawsuit was filed in a court in Massachusetts by securities class action firm Hagens Berman Sobol Shapiro on behalf of an investor against Keith Gill. The suit alleges Gill misreprestented himself as an amateur investor to inflate the stock price.
1007417699 2021-02-18T01:20:15Z 165351(31) 5311(0) 282(0) See also
1007471529 2021-02-18T08:48:52Z 165320(-31) 5311(0) 282(0)
1007522872 2021-02-18T15:55:06Z 165458(138) 5311(0) 283(1)
1007531699 2021-02-18T16:55:18Z 165320(-138) 5311(0) 282(-1)
1007535764 2021-02-18T17:23:29Z 165342(22) 5311(0) 282(0) Political figures
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Senator Ted Cruz, Representatives Ro Khanna, Ted Lieu, Alexandria Ocasio-Cortez, and Rashida Tlaib, Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
    A variety of politicians and commentators across the political spectrum made statements in support of those driving up the price of GameStop and other stocks, as well as against Robinhood and other companies' decision to limit these trades, including Alexandria Ocasio-Cortez, Senator Ted Cruz, Representatives Ro Khanna, Ted Lieu, and Rashida Tlaib, Fox Business host Charles Payne, and conservative political commentators Rush Limbaugh, Ben Shapiro, and Donald Trump Jr.
1007535920 2021-02-18T17:24:28Z 165805(463) 5311(0) 283(1) Investigations
1007548017 2021-02-18T18:44:08Z 165678(-127) 5294(-17) 282(-1) Possible causes
    Suggested factors included a culture of taking massive gambles on the stock market in the hopes of making money quickly, anger of some investors towards Wall Street hedge funds for their role in the financial crisis of 2007 and 2008, or the general democratization of the stock market coupled with the ability of retail traders to communicate instantaneously through social media.
    Suggested factors included anger of some investors towards Wall Street hedge funds for their role in the financial crisis of 2007 and 2008, or the general democratization of the stock market coupled with the ability of retail traders to communicate instantaneously through social media.
1007590566 2021-02-18T22:58:05Z 165974(296) 5294(0) 283(1)
1007595733 2021-02-18T23:34:44Z 166451(477) 5309(15) 284(1) Timeline
    On January 28, more than 1 million GameStop shares, then worth $359 million, were deemed failed-to-deliver.

1007615239 2021-02-19T01:38:06Z 166455(4) 5309(0) 284(0)
1007617346 2021-02-19T01:49:08Z 166525(70) 5309(0) 284(0)
1007618547 2021-02-19T01:55:42Z 166548(23) 5309(0) 284(0)
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients. The short squeezed securities's prices continued to decline during the week.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients. The short squeezed securities prices continued to decline during the week.
1007661230 2021-02-19T07:39:35Z 166548(0) 5309(0) 284(0) References
1007675919 2021-02-19T10:05:33Z 165972(-576) 5309(0) 284(0)
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients. The short squeezed securities prices continued to decline during the week.
    On February 1 and 2, the stock price for GameStop declined substantially, losing more than 80 percent of its value from its intraday peak price, recorded during the previous week. GameStop shares lost 60 percent of their value on February 2, closing below $100 for the first time in a week. Reports estimated that about $27 billion in value had been erased. Other assets affected by the short squeeze and put under company trading restrictions, such as AMC and Blackberry shares, also declined in value. CNN reported that the drop was partly due to restrictions imposed by Robinhood and other brokers on the number of shares that could be purchased at once by their clients. The short squeezed securities' prices continued to decline during the week.
1007679642 2021-02-19T10:34:55Z 168624(2652) 5496(187) 291(7) Investigations
    On February 18, 2021, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18 included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on this issue. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.

1007680233 2021-02-19T10:40:38Z 167338(-1286) 5452(-44) 285(-6) Investigations
    Representative Maxine Waters announced that the House Financial Services Committee would convene a hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18, will include Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, and Robinhood CEO Vladimir Tenev.
    On January 28, the House Financial Services Committee announced that it would convene a hearing to discuss online trading platforms.
1007680699 2021-02-19T10:45:19Z 167653(315) 5463(11) 290(5) Investigations
    On February 18, 2021, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18 included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on this issue. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18 included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
1007680954 2021-02-19T10:48:11Z 167531(-122) 5463(0) 287(-3) Investigations
1007694478 2021-02-19T12:57:18Z 167484(-47) 5456(-7) 287(0)
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Dozens of class action lawsuits were filed against Robinhood in U.S. courts, and U.S. House Committee on Financial Services chair Maxine Waters announced a congressional hearing on the incident set for February 18. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased as well.
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Dozens of class action lawsuits were filed against Robinhood in U.S. courts, and the U.S. House Committee on Financial Services held congressional hearing on the incident. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased as well.
1007706670 2021-02-19T14:30:51Z 167279(-205) 5441(-15) 285(-2) Investigations
    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18 included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18 included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. Members also discussed a possibly greater regulation of short-selling.
1007707061 2021-02-19T14:33:11Z 167484(205) 5456(15) 287(2)
    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18 included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. Members also discussed a possibly greater regulation of short-selling.
    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18 included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
1007728814 2021-02-19T16:55:18Z 167938(454) 5499(43) 289(2) Alleged conflict of interest between Robinhood and Citadel
    Following the decision by brokerage firm Robinhood to halt the buying of stocks affected by the short squeeze, users on Reddit and other social media called in question its relationship with Citadel Securities. Bloomberg News had previously reported that 40 percent of Robinhood's revenue was derived from selling customer orders to market-making firms including Citadel Securities and Two Sigma Securities, in a practice known as payment for order flow. The Washington Post reported that Robinhood routed more than half of its customer orders to Citadel, which was its largest market making partner by volume. Citadel Securities is the sister company to Citadel LLC, which along with Point72 Asset Management invested $2.75 billion into Melvin Capital. As Robinhood restricted trading of GameStop shares, thereby limiting the growth of the stock's value, users alleged that Citadel Securities directed Robinhood to do so. Citadel Securities stated that they did not instruct any brokerage to suspend or otherwise limit trading, and Robinhood denied that it had been pressured by Citadel.
    Following the decision by brokerage firm Robinhood to halt the buying of stocks affected by the short squeeze, users on Reddit and other social media called in question its relationship with Citadel Securities. Bloomberg News had previously reported that 40 percent of Robinhood's revenue was derived from selling customer orders to market-making firms including Citadel Securities and Two Sigma Securities, in a practice known as payment for order flow. The Washington Post reported that Robinhood routed more than half of its customer orders to Citadel, which was its largest market making partner by volume. Citadel Securities is the sister company to Citadel LLC, which along with Point72 Asset Management invested $2.75 billion into Melvin Capital. As Robinhood restricted trading of GameStop shares, thereby limiting the growth of the stock's value, users alleged that Citadel Securities directed Robinhood to do so. Citadel Securities stated that they did not instruct any brokerage to suspend or otherwise limit trading, and Robinhood denied that it had been pressured by Citadel.

    During the February 18 hearing held by the House Financial Services Committee, Citadel CEO Kenneth Griffin and Robinhood CEO Vlad Tenev faced questioning regarding their relationship and denied that the limits imposed on the trading of GameStop shares had been requested by Citadel.
1007728997 2021-02-19T16:56:21Z 167911(-27) 5495(-4) 289(0) Investigations
    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing, scheduled for February 18 included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
1007729516 2021-02-19T16:59:37Z 167910(-1) 5495(0) 289(0) Lawsuits
    A lawsuit was filed in a court in Massachusetts by securities class action firm Hagens Berman Sobol Shapiro on behalf of an investor against Keith Gill. The suit alleges Gill misreprestented himself as an amateur investor to inflate the stock price.
    A lawsuit was filed in a court in Massachusetts by securities class action firm Hagens Berman Sobol Shapiro on behalf of an investor against Keith Gill. The suit alleges Gill misrepresented himself as an amateur investor to inflate the stock price.
1007732179 2021-02-19T17:15:32Z 167912(2) 5496(1) 289(0)
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Dozens of class action lawsuits were filed against Robinhood in U.S. courts, and the U.S. House Committee on Financial Services held congressional hearing on the incident. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased as well.
    On January 28, some brokerages, including Robinhood, halted the buying of GameStop and other securities, later citing their inability to post sufficient collateral at clearing houses to execute their clients' orders. This decision attracted criticism and accusations of market manipulation from prominent politicians and businesspeople from across the political spectrum. Dozens of class action lawsuits were filed against Robinhood in U.S. courts, and the U.S. House Committee on Financial Services held a congressional hearing on the incident. In reaction to brokerages halting the buying of GameStop and other securities, the total market capitalization of cryptocurrencies and metal futures increased as well.
1007732558 2021-02-19T17:17:52Z 167929(17) 5498(2) 289(0) Investigations
    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why did curb the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why the brokerage had limited the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
1007761301 2021-02-19T20:11:02Z 167938(9) 5499(1) 289(0) Losses by short sellers
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53 percent of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26. The exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets. On February 1, GameStop short interests fell to 39 percent of free-floating shares, from 114 percent in mid-January, according to IHS Markit. The data was described by Bloomberg News as "potentially an early sign that the short squeeze that propelled GameStop... has progressed."
    By January 28, 2021, Melvin Capital, an investment fund that heavily shorted GameStop, had lost 30 percent of its value since the start of 2021, and by the end of January had suffered a loss of 53 percent of its investments. Citadel LLC and firm partners then invested $2 billion into Melvin, while Point72 Asset Management's investment added $750 million, for a total investment of $2.75 billion, before Melvin told CNBC that they covered (closed) their position on January 26, although the exact amount was not disclosed. According to Morgan Stanley, a number of hedge funds covered their short positions and sold shares in their portfolio to reduce leverage and market exposure, in some of the largest such actions within 10 years. On January 26, it was reported that short sellers lost a total of $6 billion due to the squeeze. On January 27, a Melvin Capital spokesperson stated that the fund had closed its position after repositioning its portfolio. Melvin ended January with more than $8 billion in assets after having started the year with roughly $12.5 billion in assets. On February 1, GameStop short interests fell to 39 percent of free-floating shares, from 114 percent in mid-January, according to IHS Markit. The data was described by Bloomberg News as "potentially an early sign that the short squeeze that propelled GameStop... has progressed."
1008159638 2021-02-21T21:48:49Z 168557(619) 5556(57) 290(1) Aftermath
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation, and Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Yellen convened a meeting of financial regulators, including the heads of the Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting. The regulators were not seen as likely to view the volatility as creating any systemic risks. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation. Yellen convened a meeting of financial regulators, including the heads of the Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting. The regulators were not seen as likely to view the volatility as creating any systemic risks. The White House said that it was open to studying the impacts of a financial transaction tax, which would meet opposition from Wall Street and trading firms. According to a 2018 estimate by the nonpartisan Congressional Budget Office, a 0.1% tax on stock, bond and derivative transactions could raise $777 billion for the federal government over a decade.

    Speaker of the House Nancy Pelosi said that Congress will also be reviewing it. Senator Sherrod Brown announced that the Senate Banking Committee would hold a hearing on the state of the stock market and the alleged market manipulation surrounding the GameStop short squeeze. Representative Byron Donalds called for Congress to launch "an immediate investigation into Citadel, L.L.C. and Robinhood".
1008221178 2021-02-22T05:10:13Z 168540(-17) 5557(1) 290(0) Aftermath
    On January 28, the House Financial Services Committee announced that it would convene a hearing to discuss online trading platforms.

    On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why the brokerage had limited the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
    On January 28, the House Financial Services Committee announced that it would convene a hearing to discuss online trading platforms. On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why the brokerage had limited the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
1008254952 2021-02-22T10:59:55Z 168541(1) 5556(-1) 290(0) Aftermath
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation. Yellen convened a meeting of financial regulators, including the heads of the Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting. The regulators were not seen as likely to view the volatility as creating any systemic risks. The White House said that it was open to studying the impacts of a financial transaction tax, which would meet opposition from Wall Street and trading firms. According to a 2018 estimate by the nonpartisan Congressional Budget Office, a 0.1% tax on stock, bond and derivative transactions could raise $777 billion for the federal government over a decade.
    On January 27, 2021, White House press secretary Jen Psaki said that Treasury Secretary Janet Yellen and others in the Biden administration were monitoring the situation. Yellen convened a meeting of financial regulators, including the heads of the Securities and Exchange Commission, Federal Reserve, Federal Reserve Bank of New York and the Commodity Futures Trading Commission, to discuss the volatility surrounding the short squeeze. Because Yellen had received speaking fees from Citadel before becoming treasury secretary, she sought and received permission from Treasury Department ethics lawyers before convening the meeting. The regulators were not seen as likely to view the volatility as creating any systemic risks.

    The White House said that it was open to studying the impacts of a financial transaction tax, which would meet opposition from Wall Street and trading firms. According to a 2018 estimate by the nonpartisan Congressional Budget Office, a 0.1% tax on stock, bond and derivative transactions could raise $777 billion for the federal government over a decade.
1008323598 2021-02-22T18:58:29Z 168589(48) 5558(2) 290(0)
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. On January 22, 2021, approximately 140 percent of GameStop's public float[a] had been sold short, meaning some shorted shares had been re-lent and shorted again. Analysts at Goldman Sachs later noted that short interest exceeding 100% of a company's public had only occurred 15 times in the prior 10 years.
    However, in September 2020, Ryan Cohen (the former CEO of online pet food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued. Similarly, investor Michael Burry acquired a 3.3% stake in GameStop in mid-2019.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million, exiting its position after Elon Musk tweeted "Gamestonks!". Asset manager BlackRock had a roughly 13% stake in Gamestop, which was worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30% rise in its value based in part due to the 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020.
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over US$1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, increased 20% in value to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood then began limiting the trading on Dogecoin.
    The White House said that it was open to studying the impacts of a financial transaction tax, which would meet opposition from Wall Street and trading firms. According to a 2018 estimate by the nonpartisan Congressional Budget Office, a 0.1% tax on stock, bond and derivative transactions could raise $777 billion for the federal government over a decade.
    However, investor Michael Burry, who had acquired a 3.3% stake in GameStop in 2019, criticized the short squeeze, stating that "there should be legal and regulatory repercussions", and adding "this is unnatural, insane, and dangerous". In a CNBC interview, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
    GameStop, an American chain of brick-and-mortar video game stores, had struggled in recent years 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. As a result, GameStop's stock price declined, leading many institutional investors to short sell the stock. On January 22, 2021, approximately 140 percent of GameStop's public float[a] had been sold short, meaning some shorted shares had been re-lent and shorted again. Analysts at Goldman Sachs later noted that short interest exceeding 100 percent of a company's public had only occurred 15 times in the prior 10 years.
    However, in September 2020, Ryan Cohen (the former CEO of online pet food retailer Chewy) revealed a significant investment in GameStop and joined the company's board, leading some to believe that the stock was undervalued. Similarly, investor Michael Burry acquired a 3.3-percent stake in GameStop in mid-2019.
    Hedge fund manager Senvest Management, which had previously bought a five percent stake in GameStop when shares were at $10, made a profit of $700 million, exiting its position after Elon Musk tweeted "Gamestonks!". Asset manager BlackRock had a roughly 13-percent stake in Gamestop, which was worth $2.6 billion at the peak. Mudrick Capital Management made a profit of close to $200 million in January 2021 on its holdings of AMC debt, and a profit of $50 million writing call options on AMC and GameStop stock. The mutual fund Morgan Stanley Institutional Inception saw a 30-percent rise in its value based in part due to the 346,943 Gamestop shares it had purchased in September 2020. The trading led to increase in the stock of the Koss Corporation, and by selling stock the executives and directors of the company were able to earn $45 million, which was more than the company was valued in 2020.
    In reaction to brokerages halting the buying of GameStop and other securities, the combined market capitalization of all cryptocurrencies increased to over US$1 trillion, with Dogecoin's value increasing over 800 percent. Users of the subreddits r/CryptoCurrency and r/SatoshiStreetBets attempted to pump up Dogecoin to make it "the next GME/Bitcoin". In addition, the price of Bitcoin, the world's largest cryptocurrency, increased 20 percent in value to more than $37,000 after Elon Musk endorsed it in his Twitter bio, partially related to the surge in the GameStop share price by Reddit users.[additional citation(s) needed] Robinhood then began limiting the trading on Dogecoin.
    The White House said that it was open to studying the impacts of a financial transaction tax, which would meet opposition from Wall Street and trading firms. According to a 2018 estimate by the nonpartisan Congressional Budget Office, a 0.1-percent tax on stock, bond and derivative transactions could raise $777 billion for the federal government over a decade.
    However, investor Michael Burry, who had acquired a 3.3-percent stake in GameStop in 2019, criticized the short squeeze, stating that "there should be legal and regulatory repercussions", and adding "this is unnatural, insane, and dangerous". In a CNBC interview, billionaire investor and hedge fund manager Leon Cooperman angrily criticized the Reddit users' market behavior, calling it a result of the federal response to the pandemic and stating that it would "end in tears" for the retail investors.
1008324214 2021-02-22T19:02:30Z 168589(0) 5558(0) 290(0) top
1008329851 2021-02-22T19:30:09Z 168540(-49) 5552(-6) 290(0)
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, 2021, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, 2021, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
1008329996 2021-02-22T19:30:54Z 168589(49) 5558(6) 290(0)
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, 2021, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
    Even before the short squeeze, there had been interest in GameStop (ticker symbol: GME). Keith Gill, known by the Reddit username "DeepFuckingValue" and the YouTube and Twitter alias "Roaring Kitty", purchased around $53,000 in call options on GameStop's stock in 2019 and saw his position rise to a value of $48 million by January 27, 2021. Gill, a 34-year-old marketing professional and Chartered Financial Analyst (CFA) from Massachusetts, stated that he began investing in GameStop during the summer of 2019, after believing the stock to be undervalued. He shared information regarding his investment on r/wallstreetbets, providing regular updates on the investment's performance, including times when the investment had plunged. He stated on January 29, 2021, after the GameStop short squeeze, that he "thought this trade would be successful" but "never expected what [had] happened over the last week", adding that he planned to continue his YouTube channel as Roaring Kitty and potentially buy a house.
1008752059 2021-02-24T21:50:35Z 168620(31) 5558(0) 290(0) Investigations
1008754015 2021-02-24T22:02:21Z 168614(-6) 5557(-1) 290(0) Congressional hearing
    On January 28, the House Financial Services Committee announced that it would convene a hearing to discuss online trading platforms. On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why the brokerage had limited the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Keith Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
    On January 28, the House Financial Services Committee announced that it would convene a hearing to discuss online trading platforms. On February 18, the House Financial Services Committee, chaired by Representative Maxine Waters, held a remote hearing titled Game Stopped? Who Wins and Loses When Short Sellers, Social Media, and Retail Investors Collide. Witnesses at the hearing included Reddit user and investor Keith Gill, Citadel CEO Ken Griffin, Reddit CEO Steve Huffman, Melvin Capital CEO Gabriel Plotkin, Robinhood CEO Vladimir Tenev and Cato Institute financial regulation expert Jennifer J. Schulp. Representatives focused their attention on Robinhood's role in the event, asking Vladimir Tenev why the brokerage had limited the trading of some securities and if it had clearly communicated its business model to its customers. They also questioned whether Robinhood was encouraging its customers to take excessive risks in order to generate a profit and whether it had the appropriate infrastructure and funding to handle influxes of new clients. Several members expressed skepticism at the practice of payment for order flow and engaged Vladimir Tenev and Kenneth Griffin on the issue. Representative Brad Sherman accused Griffin of trying to evade his questions. At various points during his initial testimony and questioning, Keith Gill made references to memes. Members also discussed a possibly greater regulation of short-selling.
1008759409 2021-02-24T22:37:06Z 168614(0) 5557(0) 290(0)
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even further. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities also increased.
    In January 2021, a short squeeze of the stock of the American video game retailer GameStop (NYSE: GME) and other securities took place, causing major financial consequences for certain hedge funds and large losses for short sellers. Approximately 140 percent of GameStop's public float had been sold short, and the rush to buy shares to cover those positions as the price rose caused it to rise even farther. The short squeeze was initially and primarily triggered by users of the subreddit r/wallstreetbets, an Internet forum on the social news website Reddit, although a number of hedge funds also participated. At its height, on January 28, the short squeeze caused the retailer's stock price to reach a pre-market value of over US$500 per share, nearly 30 times the $17.25 valuation at the beginning of the month. The price of many other heavily shorted securities also increased.
1008769862 2021-02-24T23:44:45Z 168631(17) 5557(0) 290(0)
1008778326 2021-02-25T00:41:48Z 169318(687) 5607(50) 292(2) Decline in value
    On February 24, GameStop share prices doubled in heavy volume in final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailed Express and communications software group BlackBerry.

1008780679 2021-02-25T00:58:16Z 170342(1024) 5673(66) 297(5) Decline in value
    On February 24, GameStop share prices doubled in heavy volume in final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailed Express and communications software group BlackBerry.
    On February 24, GameStop share prices doubled in heavy volume in final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailed Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half and hour, Reddit said that systems were beginning to recover.
1008782164 2021-02-25T01:08:13Z 170342(0) 5673(0) 297(0)
    On February 24, GameStop share prices doubled in heavy volume in final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailed Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half and hour, Reddit said that systems were beginning to recover.
    On February 24, GameStop share prices doubled in heavy volume in final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half and hour, Reddit said that systems were beginning to recover.
1008805086 2021-02-25T03:44:05Z 170371(29) 5673(0) 297(0) Decline in value
1008806189 2021-02-25T03:53:42Z 170374(3) 5674(1) 297(0) February 24 surge
    On February 24, GameStop share prices doubled in heavy volume in final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half and hour, Reddit said that systems were beginning to recover.
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
1008835799 2021-02-25T08:38:23Z 170383(9) 5672(-2) 297(0) Media adaptations
    In February 2021, it was announced that Netflix had plans to develop a movie based on the events. Mark Boal is in negotiations to write, and Noah Centineo is set to star in the film. Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal The Antisocial Network, aimed at chronicling the recent events on Wall Street. A limited-run series based on the events titled To the Moon was also announced. Jaime Rogozinski, who founded r/wallstreetbets in 2012, sold the rights to his life story to RatPac Entertainment, and a documentary based on the event, created by the studios XTR and The Optimist and partially funded by a Kickstarter campaign, is also in the works. HBO is also currently in development of a scripted film about the events from executive producers Andrew Ross Sorkin, Jason Blum, and Len Amato.
    In February 2021, Deadline Hollywood reported on Netflix's plans to develop a movie based on the events, with Mark Boal in negotiations to write and Noah Centineo set to star in the film. Separately, Metro-Goldwyn-Mayer (MGM) acquired the rights to make its own movie based on Ben Mezrich's book proposal The Antisocial Network, aimed at chronicling the recent events on Wall Street. A limited-run series based on the events titled To the Moon was also announced. Jaime Rogozinski, who founded r/wallstreetbets in 2012, sold the rights to his life story to RatPac Entertainment, and a documentary based on the event, created by the studios XTR and The Optimist and partially funded by a Kickstarter campaign, is also in the works. HBO is also currently in development of a scripted film about the events from executive producers Andrew Ross Sorkin, Jason Blum, and Len Amato.
1008840434 2021-02-25T09:27:38Z 170157(-226) 5638(-34) 296(-1)
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'.
1008843052 2021-02-25T09:57:44Z 170398(241) 5672(34) 298(2) February 24 surge
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'.
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
1008850167 2021-02-25T11:02:45Z 170784(386) 5682(10) 299(1)
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting shortly before the closing bell at $91.70, a 104% gain. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting twice shortly before the closing bell at $91.70, a 104% gain. Gaines continued in after-hours trading, nearing an additional 100%. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
1008875690 2021-02-25T14:45:02Z 170783(-1) 5682(0) 299(0) February 24 surge
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting twice shortly before the closing bell at $91.70, a 104% gain. Gaines continued in after-hours trading, nearing an additional 100%. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting twice shortly before the closing bell at $91.70, a 104% gain. Gains continued in after-hours trading, nearing an additional 100%. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
1008922297 2021-02-25T19:36:16Z 171527(744) 5687(5) 301(2) February 24 surge
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting twice shortly before the closing bell at $91.70, a 104% gain. Gains continued in after-hours trading, nearing an additional 100%. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. A reason for the sudden surge could not be identified. The jump comes a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting twice shortly before the closing bell at $91.70, a 104% gain. Gains continued in after-hours trading, nearing an additional 100%. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. As of January 25, here was no consensus on the causes of the sudden surge. The jump came a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
1008922387 2021-02-25T19:36:54Z 171216(-311) 5687(0) 300(-1) February 24 surge
1008926653 2021-02-25T20:04:18Z 171191(-25) 5682(-5) 300(0) February 24 surge
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting twice shortly before the closing bell at $91.70, a 104% gain. Gains continued in after-hours trading, nearing an additional 100%. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. As of January 25, here was no consensus on the causes of the sudden surge. The jump came a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, the entire Reddit site was down for many users, although the company did not identify the cause of the outage; within half an hour, Reddit said that systems were beginning to recover.
    On February 24, GameStop share prices doubled in heavy volume in the final 90 minutes of trading, with the company's stock halting twice, shortly before closing at $91.70, a 104% gain. Gains continued in after-hours trading, nearing an additional 100%. Similar gains, although not as high, were reported with cinema operator AMC, clothing retailer Express and communications software group BlackBerry. As of February 25, there was no consensus on the causes of the sudden surge. The jump came a day after GameStop announced its chief financial officer Jim Bell would resign to help 'accelerate Gamestop's transformation'. Following the rise, Reddit went down for many users. The company did not identify the cause of the outage, but, within half an hour, Reddit said that systems were beginning to recover.
1008977198 2021-02-26T02:00:14Z 171174(-17) 5682(0) 300(0)
1009025870 2021-02-26T09:29:41Z 171176(2) 5682(0) 300(0) Online discussion
    Another user, "Stonksflyingup", posted a humorous video on October 27, 2020, explaining how a short position by Melvin Capital could be used to execute a short squeeze, using a scene from Chernobyl to illustrate how the hedge fund would blow up similarly to a nuclear reactor.
    Another user, Stonksflyingup, posted a humorous video on October 27, 2020, explaining how a short position by Melvin Capital could be used to execute a short squeeze, using a scene from Chernobyl to illustrate how the hedge fund would blow up similarly to a nuclear reactor.
1009076940 2021-02-26T16:18:08Z 172030(854) 5682(0) 300(0) Timeline
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares. Some of those investing into the stock were young teenage investors.
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the 91 price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares. Some of those investing into the stock were young teenage investors.
1009078356 2021-02-26T16:26:17Z 171176(-854) 5682(0) 300(0)
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the 91 price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares. Some of those investing into the stock were young teenage investors.
    In January 2021, Reddit users on the r/wallstreetbets subreddit built the foundations for a short squeeze on GameStop, pushing up the stock price significantly. This occurred shortly after a comment from Citron Research predicting the value of the stock would decrease. The stock price increased 1,500 percent by January 27 over the course of two weeks, and its high volatility caused trading to be halted multiple times. According to Dow Jones market data, more than 175 million shares of GameStop were traded on January 25, the second largest total in a single day, surpassing its 30-day average volume of 29.8 million shares. Some of those investing into the stock were young teenage investors.