Covering the GameStop stock squeeze of 2021, this comedic dramatization provides a light explanation of a multi-billion-dollar financial market frenzy. On the other side, there are the hedge funds, their managers, and the trading platform. Hedge funds short stocks, meaning the lower the stock price goes, the more profit they make. On January 26th, Elon Musk tweeted with the link to WallStreetBets’ Reddit platform, likely causing a major contribution to the pageview record being broken. All-in-all, the hedge funds that shorted GameStop lost $10 billion and Melvin Capital closed down, with Gabe Plotkin stating he had to ‘step away from managing external capital’.

Source: New York Times October 26, 2023 11:53 UTC