3 Lessons From GameStop's Meteoric Rise

Jeremy Bowman, The Motley Fool
·5-min read
3 Lessons From GameStop's Meteoric Rise

Shares of GameStop (NYSE: GME), a stodgy video game retailer, have soared recently thanks to a band of traders on the Reddit group WallStreetBets. As of the end of December, 260% of GameStop's float been sold short, meaning the average share had been borrowed 2.6 times. The overwhelming majority of investors were betting on the stock to go down, but the skyrocketing share price forced many of those traders to buy back the stock, helping to propel the rally.