The "mayhem" originated on Reddit's r/WallStreetBets (WSB) forum , where retail traders identified that GameStop (GME) was one of the most heavily shorted stocks on the market, with short interest exceeding 140% of its available shares.
The climax of the saga occurred on January 28, 2021, when the commission-free brokerage Robinhood and several other platforms abruptly restricted users from buying GME and other "meme stocks" like AMC and BlackBerry. An in-depth timeline of the GameStop short squeeze saga GameStop mayhem, Robinhood scandal, Musk tweets...
On January 26, 2021, Elon Musk amplified the frenzy by tweeting a single word——accompanied by a link to the WSB subreddit. : GameStop’s price surged from approximately $17
: GameStop’s price surged from approximately $17.25 at the start of January to an intraday high of $483 on January 28. The Catalyst: The Elon Musk "Gamestonk" Tweet GameStop mayhem, Robinhood scandal, Musk tweets...