The True Meaning of GME
GME stands for “Game Stop Stock”. GME is the stock ticker symbol for an American video game retailer. It gained notoriety in January 2021 when it became “Meme Stock” from the WallStreetBets (WSB.)
The company (and its stock) plummeted during the mid-late 2010s due to the shift in video game sales to online storefronts and GameStop’s failed smartphone retail investments. This drop was exploited by hedge funds that borrowed too much and oversold GME shares causing a short position. A user called DeepFuckingValue noted that the stock had been illegally shorted by 140% and posted his “bets” on WSB.
In 2021, millions of WSB users organized a short squeeze on GME stock by mass buying a large amount. The company’s stock price has skyrocketed, triggering a battle between the internet and hedge funds. The idea of the free market and hedge funds has been questioned.
For GME Stock Price Visit https://finance.yahoo.com/quote/GME/