GameStop stock market squeeze was not what most think
By purchasing the shares, the buyers were driving up the stock price of a company that hedge funds had bet billions against.
Chow discovered that hedge funds, including Citadel Securities, had shorted 140 percent of Gamestop’s shares. That meant some shares were shorted, then lent again, and shorted again, a practice many think should be illegal. But this also made the short-sellers extra vulnerable to a run-up in stock price.of the situation and explained how Reddit investors could squeeze the shorts by making them repurchase the stock at astronomical prices.
The Gamestop short squeeze, therefore, was not started by wanna-be revolutionaries but by an intelligent investor sharing his due diligence.
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