Is GameStop stock doomed to fail?
As a result of the belief among the pro investor crowd that GameStop was, essentially, doomed, they began shorting the stock -- essentially betting on it to fail. This happens all the time to a variety of stocks with very little fanfare. It is the way of the modern stock market.
Did the GameStop stock populist revolt work?
And there's no question that the populist revolt has worked for GameStop stock. On December 28, it was trading at $20.99 a share. On Wednesday, it was a shade under $335 a share. THE POINT -- NOW ON YOUTUBE!
What did Donald Trump mean by “Average Joes need to rise up”?
He was saying that Average Joes needed to rise up and actually show them how wrong they were -- that voting him for him was the best way to express their anger and frustration with the condescension of their alleged bettors. Donald Trump offered himself up as a collective middle finger to the elites.
What made Donald Trump's argument so powerful?
What made Trump's argument so potent, politically speaking, is that he wasn't just calling out the elites. He was saying that Average Joes needed to rise up and actually show them how wrong they were -- that voting him for him was the best way to express their anger and frustration with the condescension of their alleged bettors.
What caused the spike in GameStop stock?
Melvin Capital and Citron were two of the funds caught in the squeeze, forcing them to buy more GameStop stock to cover their losses, which ended up driving the stock price even higher.
What group made GameStop stock rise?
The answer is r/wallstreetbets, a group of retail investors on an internet forum called Reddit who raised the stock price by 1,700 per cent. ThePrint explains how GameStop's fortunes turned and why the company even drew the attention of these investors.
When did GameStop stock surge?
Jan 13, 2021: Stock surges more than 50% Some retail traders jumped on GameStop's announcement, and in just a few days the stock closed at $31.40 a share on Jan. 13 -- a spike of more than 50% since the Jan. 11 announcement.
Who caused the GameStop surge?
The GameStop surge is making headlines because it's being driven by retail investors — individuals who buy and sell stocks for their own gains, as opposed to professional investors working on Wall Street — on the subreddit r/WallStreetBets (WSB), a community 2.9 million-strong that refers to members as “degenerates” ...
How did the shares of GameStop rise so quickly and so high?
Soon, they were forced to become buyers of shares they had sold short, pushing share prices even higher. Individual investors added fuel to the fire, sparking this week's exponential stock price increase by using call options to bet that the price would rise.
How high can GME short squeeze?
A short squeeze is vigorous and can spike with no warning. This is where you see 100% gains in a matter of seconds and minutes. A short squeeze can even reach 1000% and 10,000% gains.
Did GME short squeeze?
While many stocks in the market have been struggling — especially in growth — GameStop (NYSE:GME) hasn't been one of them. That's ironic, as most of last year's short-squeeze candidates have rolled over in tremendous pain. And while GME stock also suffered a large drop, it's been on the move lately.
How did GME short squeeze start?
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.