The GameStop short squeeze was the January 2021 surge in GME from about $17 to an intraday high of $483 (about $120.75 after the 2022 split). Short interest hi…
Keith Gill shared a GameStop position worth about $53,000 and argued the market had written the company off too early.
Short sellers had bet heavily on the store chain's decline. By January 2021 short interest hit 122.97% of the float.
GameStop agreed to add Cohen and two ex-Chewy executives to its board. Investors bet on an e-commerce turnaround.
A 71% jump in about three hours on the busiest day of the month. Accounts trading GME were multiplying.
A record close. Melvin Capital, rescued with $2.75 billion days earlier, closed its short. Koss rose 480% the same day.
GME touched $483 in the morning, then fell to close at $193.60 as brokers restricted buying.
The clearinghouse told Robinhood it owed about $3 billion in deposits. After a waiver it paid about $1.4 billion and allowed only selling.
Robinhood and Citadel denied hedge-fund pressure. Keith Gill told lawmakers: 'I like the stock.'
Buyers at $200 to $483 lost most of their money as the price collapsed in February.
Short covering was a small fraction of buying. The SEC said positive sentiment sustained the weeks-long rise.
GameStop sold new shares into the frenzy in 2021 and again when Roaring Kitty returned in 2024.
US trades now settle in one business day, cutting the collateral brokers must post when prices go wild.
Cohen offered $125 a share for eBay, half cash, half stock. eBay called it 'neither credible nor attractive'.
Record Q2 operating income, $5.4 billion in cash and investments, and a stake in eBay worth $4.9 billion.
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