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 initial reaction of Reddit investors towards GameStop?

• They decided to sell their shares.

• They ignored the stock completely.

• They began discussing and investing in it.

• They advised others to avoid it.

Which hedge fund required a $3 billion investment to stay afloat due to its position against GameStop?

• Reddit Investors

• Citron Research

• Melvin Capital

• Wall Street Bets

What was the primary strategy of the Wall Street Bets community regarding GameStop?

• To invest in other stocks

• To sell the stock at a loss

• To buy and hold the stock to increase its price

• To short sell the stock

What action did some major brokerages take due to the high activity in GameStop trades?

• They limited trades in GameStop.

• They encouraged more trades.

• They banned all stock trades.

• They increased trading fees.

What was the price of GameStop's stock approximately a year ago compared to its current price?

• Over $300, now under $4

• Around $100, now $50

• Around $50, now $100

• Under $4, now over $300