Wall Street Short Sellers Lose Billions As GameStop Soars

The transcript discusses how Reddit investors, particularly the Wall Street Bets community, influenced the stock market by driving up GameStop's share price. This move was aimed at countering hedge funds like Melvin Capital and Citron Research, which had bet against GameStop. The strategy led to significant losses for these funds and resulted in some brokerages limiting trades in GameStop. The stock price surged from under $4 to over $300, raising questions about its future stability.

What was the outcome for Melvin Capital after betting against GameStop?

What actions did the Reddit community take regarding GameStop shares?

How did the trading activity in GameStop affect major brokerages?

What was the initial stock price of GameStop a year ago?

What is the current stock price of GameStop compared to its price a year ago?