GameStop Short Squeeze: Difference between revisions
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===The role of r/WallStreetBets and retail investors=== | ===The role of r/WallStreetBets and retail investors=== | ||
The | The sub[[reddit]], r/WallStreetBets (WSB), a forum known for high-risk trading discussions, became the epicenter of a coordinated retail investor movement. Users, led by figures like Keith Gill, argued that GameStop was undervalued and that a short squeeze could be triggered by mass buying.<ref>{{Cite web |last=Stewart |first=Emily |date=September 29, 2023 |title=Dumb Money and what actually happened with GameStop, explained |url=https://www.vox.com/money/2023/9/15/23873474/dumb-money-gamestop-stock-keith-gill-melvin-capital-review |website=Vox.com}}</ref> | ||
Gill had invested heavily in GameStop as early as 2019, sharing his bullish thesis online. By January 2021, his $53,000 investment had ballooned to $48 million as the stock surged.<ref>{{Cite web |last=Winter |first=Velvet |date=October 27, 2023 |title=Here's the story behind Dumb Money and how a group of Redditors made billions on the stock market during the pandemic |url=https://www.abc.net.au/news/2023-10-28/what-is-dumb-money-about-gamestop-short-squeeze-explainer/102991894 |website=abc.net.au}}</ref> | Gill had invested heavily in GameStop as early as 2019, sharing his bullish thesis online. By January 2021, his $53,000 investment had ballooned to $48 million as the stock surged.<ref>{{Cite web |last=Winter |first=Velvet |date=October 27, 2023 |title=Here's the story behind Dumb Money and how a group of Redditors made billions on the stock market during the pandemic |url=https://www.abc.net.au/news/2023-10-28/what-is-dumb-money-about-gamestop-short-squeeze-explainer/102991894 |website=abc.net.au}}</ref> | ||