"Canna"nomics: January 29, 2021
Game, Stopped. GameStop, a company that at one point appeared to have over 130% of its shares shorted, seems to have been involved in one of the largest short squeezes ever (a short summary of what happened from The Verge). One evidently orchestrated by individual, anonymous traders that inhabit the online forum, Reddit’s r/WallStreetBets. From under $20 per share to almost $350 in one month, and then back down to under $200 in one day, the GameStop roller coaster has become a mainstream story with something for everyone - retail investors vs. hedge funds, tech startups vs. regulation, establishment vs. millennials.