The GameStop short squeeze

JAN 28 2021

Retail investors coordinating on Reddit's r/wallstreetbets bought GameStop shares to force a short squeeze against hedge funds that had sold short 138 percent of the float. Keith Gill, posting as Roaring Kitty, had argued the thesis publicly since 2019 and became the campaign's figurehead. The stock rose from about $17 in early January to an intraday high of $483 on 28 January 2021. That same day Robinhood, facing a multibillion-dollar collateral call, disabled buying of GME, triggering accusations of market rigging and a congressional hearing.