What is GameStop short squeeze?
In January 2021, a fast and large increase of [[GameStop]] stock and other [[asset]]s took place on many [[stock exchange]]s. It caused major damage to [[hedge fund]]s. The stock price of GameStop went up by almost 200 times from its record low, hitting a high of nearly $500 per share on January 28, 2021.<ref>{{cite web |author1=Ines Ferré |title=GameStop shares soar 50% as massive short squeeze forges ahead |url=https://www.sports.yahoo.com/news/game-stop-shares-up-50-in-premarket-as-massive-short-squeeze-forges-ahead-133819632.html |website=Yahoo! Sports |access-date=25 January 2021 |archive-date=25 January 2021 |archive-url=https://web.archive.org/web/20210125152814/https://sports.yahoo.com/news/game-stop-shares-up-50-in-premarket-as-massive-short-squeeze-forges-ahead-133819632.html |url-status=live }}</ref> This was caused by users of the forum r/wallstreetbets on [[Reddit]] through [[Commission (remuneration)|commission]]-free trading apps such as [[Robinhood (company)|Robinhood]].<ref>{{cite web |last1=Smith |first1=Connor |title=Short Squeeze Sends GameStop Shares to 2007 Levels. What Happens Next. |url=https://www.barrons.com/articles/short-squeeze-sends-gamestop-shares-to-2007-levels-what-happens-next-51611348093 |website=Barrons |access-date=25 January 2021 |archive-date=24 January 2021 |archive-url=https://web.archive.org/web/20210124183939/https://www.barrons.com/articles/short-squeeze-sends-gamestop-shares-to-2007-levels-what-happens-next-51611348093 |url-status=live }}</ref> On January 28, Robinhood stopped the buying of GameStop and other securities. This caused many criticisms and accusations of [[market manipulation]] from politicians and businesspeople.<ref name=ugly>{{cite web |title=A Fight Over GameStop’s Soaring Stock Turns Ugly |url=https://www.wired.com/story/gamestop-stock-wall-street-bets-short-squeeze/ |website=Wired |access-date=25 January 2021 |language=en-us |archive-date=24 January 2021 |archive-url=https://web.archive.org/web/20210124173424/https://www.wired.com/story/gamestop-st