The Gamestop Short Squeeze: The Story of the Ragtag Group of Amateur Traders That Beat Wall Street at Its Own Game

In January 2021, a group of amateur traders on the subreddit r/wallstreetbets banded together to take on the hedge funds that had been shorting GameStop stock. The result was one of the most dramatic short squeezes in history, and it sent shockwaves through the financial world.

The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees

by Ben Mezrich

4.2 out of 5

Language	:	English
File size	:	954 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	305 pages
Screen Reader	:	Supported

FREE

This book tells the inside story of the Gamestop short squeeze, from the early days of the subreddit to the chaotic events of January 27th, when GameStop stock soared to a high of $483. The book features interviews with key players in the story, including Keith Gill, the Reddit user known as DeepFuckingValue, and Gabe Plotkin, the founder of Melvin Capital, one of the hedge funds that lost billions of dollars in the short squeeze.

The Gamestop short squeeze was a David vs. Goliath story, and it captured the imagination of people all over the world. It showed that even the smallest investors can have a big impact on the market, and it inspired a new wave of retail investors to enter the stock market.

This book is a must-read for anyone who wants to understand the Gamestop short squeeze and its implications for the future of the financial markets.

Chapter 1: The Rise of r/wallstreetbets

r/wallstreetbets is a subreddit dedicated to discussing stocks and options trading. It was founded in 2012, and it has since grown to become one of the most popular subreddits on Reddit, with over 11 million members.

The subreddit is known for its irreverent and often profane humor, and its users are often referred to as "degenerates." However, beneath the surface, r/wallstreetbets is a community of knowledgeable and passionate investors.

In the early days of the Gamestop short squeeze, r/wallstreetbets was a key organizing force. The subreddit's users shared information about GameStop stock, and they encouraged each other to buy and hold the stock.

Chapter 2: The Short Squeeze

A short squeeze occurs when a stock that has been heavily shorted rises in price. This can force short sellers to buy back the stock in Free Download to cover their positions, which can further drive up the price of the stock.

In the case of GameStop, the short squeeze was triggered by a combination of factors, including the actions of r/wallstreetbets users, a large influx of retail investors, and a short-covering rally by hedge funds.

The short squeeze caused GameStop stock to soar from $17.25 on January 12th to a high of $483 on January 27th. The short squeeze also caused hedge funds to lose billions of dollars.

Chapter 3: The Aftermath

The Gamestop short squeeze had a profound impact on the financial world. It showed that even the smallest investors can have a big impact on the market, and it inspired a new wave of retail investors to enter the stock market.

The short squeeze also led to increased scrutiny of hedge funds and the role they play in the financial system. Some critics argued that hedge funds are too powerful and that they pose a risk to the financial system.

The Gamestop short squeeze is a complex and fascinating story that has had a lasting impact on the financial world. This book tells the inside story of the short squeeze, from the early days of the subreddit to the chaotic events of January 27th. The book features interviews with key players in the story, and it provides a unique perspective on one of the most dramatic events in recent financial history."

The Gamestop short squeeze was a David vs. Goliath story that captured the imagination of people all over the world. It showed that even the smallest investors can have a big impact on the market, and it inspired a new wave of retail investors to enter the stock market.

This book is a must-read for anyone who wants to understand the Gamestop short squeeze and its implications for the future of the financial markets.

The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees

by Ben Mezrich

4.2 out of 5

Language	:	English
File size	:	954 KB
Text-to-Speech	:	Enabled
Enhanced typesetting	:	Enabled
X-Ray	:	Enabled
Word Wise	:	Enabled
Print length	:	305 pages
Screen Reader	:	Supported

FREE