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GameStop stock, Reddit and WallStreetBets: what you need to know
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nme.comcan be – but is instead driven by supply and demand for the specific shares.Because of GameStop’s poor performance over the past decade, alongside the growing digitalisation of video games, huge institutional hedge funds have been short-selling the shares of GameStop.
Short-selling, to make a long story short, is essentially betting that a specific stock will fall in value over time.So why has it gone up so much over the past week?
A group of investors, mostly from the sub-reddit page r/WallStreetBets, identified that some hedge funds (mainly one called Melvin Capital Management) have been holding rather large short-selling positions on GameStop.
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