FinTech Magazine - March 2021 | Page 14

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TIMELINE

THE GAMESTOP

‘ SHORT SQUEEZE ’

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A combination of COVID-19 and competition from digital distribution mean that GameStop ’ s stock ( GME ) nets a peak value of only $ 22 on the NYSE .
140 % of GameStop ’ s public float has been sold short by Wall Street . This activity is noticed by Reddit forum r / WallStreetBets .
GME reaches a high of $ 150 when Reddit users utilise Robinhood and other retail brokers to buy stock en masse .
14 March 2021