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A GameStop store in 2014. GameStop, an American chain of brick-and-mortar video game stores, had struggled in the years leading up to the short squeeze due to competition from digital distribution services, as well as the economic effects of the COVID-19 pandemic, which reduced the number of people who shopped in-person.
NEW YORK (Reuters) -Investors in GameStop have for now withdrawn their lawsuit accusing Keith Gill, who is known as "Roaring Kitty" and helped spur the meme stock mania of 2021, of defrauding them ...
GameStop Corp. is an American video game, consumer electronics, and gaming merchandise retailer. [1] ... though not without some controversy in the early stages ...
The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees (or simply The Antisocial Network) is a 2021 non-fiction book by Ben Mezrich about the GameStop short squeeze. The 2023 film Dumb Money is based on the book.
The GameStop saga has renewed calls for a financial industry crackdown in Washington and some progressive lawmakers are once again calling for a financial transaction tax.
The GameStop short squeeze was an example of such detachment. GameStop had an outdated business model and its stock price surge didn’t reflect that reality. It reflected the fickle hive mind of WSB.
On Thursday, about 300,000 GameStop options contracts had changed hands by 2:14 p.m. (1914 GMT), at about 1.5 times the usual pace, according to data from options analytics firm Trade Alert.
A GameStop store in a mall. In September 2019, Gill, under the username "u/DeepFuckingValue", posted on the subreddit r/wallstreetbets a screenshot of a trade consisting of a roughly $53,000 long position in GameStop; [8] Gill's Reddit posts and YouTube videos argued (through both fundamental and technical analysis) that the stock was undervalued. [3]