$GameStop(GME)$ Hey, let me te-To The Moon - Tiger Brokers Online Investing Community - To The Moon

Burnell Ezekiel

$GameStop(GME)$

Hey, let me tell you about GameStop. It's an electronics retailer in the United States. Back in 2021, due to consumers' buying habits shifting towards online shopping and the impact of the pandemic, the company didn't perform well in terms of its business. As a result, it caught the attention of a lot of short-selling institutions, and the short interest ratio was really high at one point.

However, users on Reddit discussion boards and other online trading forums bought a huge amount of GameStop stocks and options through free trading apps like Robinhood. This led to a significant increase in the stock price. Because the GameStop stock price was soaring and the holders were reluctant to sell, the short sellers couldn't obtain enough shares to fulfill their option contracts. So, they were in a hurry to cover their positions, which in turn pushed the stock price even higher, causing a short squeeze. The GameStop stock price soared nearly 190 times from its historical low, inflicting huge losses on the short sellers.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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