GameStop is an American video game company and an USA listed retail company and traded at the New York Stock Exchange.
Ok, understood. What happened?
GameStop’s stock price skyrocketed due to a “short squeeze” orchestrated by users of Reddit - a news aggregation web content rating and discussion website.
Just in 2021, and this year has just began, its stock price valued 858%. You heard it right - 858%. GameStop shares got to a point that it was worth $347.51 and, fyi, three weeks before it cost $19.
There are different ways to make money in the Stock Markets. Some of them are:
1) By buying shares on a low price and selling it on a high price; or
2) !Warning: Bullying Alert! By betting that a company’s shares are going to go down. In other words, you bet against the company or market - called "shorting stocks".
Reddit users saw that hedge funds were betting against GameStop. But hedge funds' scheme didn’t go as planned.
Other cases:
- Philippines filed a diplomatic protest against China | International Tribunal on UK's sovereignty over the Chagos Islands | Philippines' President signed the Anti-Money Laundering Act;
- Portuguese Parliament legalised euthanasia;
- We like to keep you updated: Federal Republic of Germany v. Philipp; Germany v. Afghan Officer (and its implications on the Germany v. Syrian Officers case).
