The Startup
Published in

The Startup

GameStop Stock’s Ascent Isn’t About Attacking Rich People

Sorry, Leon. You’re wrong.

GameStop stock has enjoyed parabolic gains as Reddit users saw an opportunity to buy a heavily shorted stock. The extra buy volume generated a short squeeze of the ages, but not everyone is happy.

Melvin Capital has lost billions of dollars from their short position on GameStop. Melvin Capital is…

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