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This is truly a story about modern day Robin Hood! I  think you’ll be tickled to hear about this recent non-fiction story in the investment world. Have you heard about what happened to GameStop, an American video game, consumer electronics, and gaming merchandise retailer, being the talk of the investment world in January, 2021? The situation is describe in the excerpt from wikipedia, in italics, below: In January 2021, a short squeeze resulted in a 500% increase in Gamestop’s stock price over the course of several weeks, reaching an all-time intraday high of US$380.00 as of January 27, 2021. Part of this effect was attributed to the Reddit community r/wallstreetbets.^[80] A subsequent jump in after-hours trading was triggered after Elon Musk tweeted “Gamestonk!” in reference to the Reddit community.^[81] Matt Levine has compared the situation to the 2012 ‘short squeeze‘ that the SEC charged Philip Falcone with.^[82] The GameStop shares rose 157% to a high of $380 per share shortly after 11:00 am in New York on Wednesday, January 27, 2021, causing at least two volatility halts (equivalent to the circuit breaker of stock market). This means the video-game retailer’s market value has risen more than 20 times this month alone to about $26 billion, making GameStop bigger than more than  a third of the companies in the S&P 500 Index. This is purely speculation and more like gambling rather than investing in a company. *A short squeeze is a rapid increase in the price of a stock owing primarily to technical factors in the market rather than underlying fundamentals. A short squeeze can occur when there is a lack of supply and an excess of demand for the stock due to short sellers covering (liquidating) their positions.^[1] In the video “Markets under pressure, but Gamestop is up 133%, traders also eye AMC, Blackberry and Blockbuster“, below: In essence, GameStop short squeeze that’s been happening during the past week dramatically boosted the stock value of GameStop, with hedge fund betting on the stock value going down by short selling (borrowing shares & selling them now & buying the shares borrowed later), resulting in over 120% of the available shares of stock being shorted. This is purely due to greed and gaming, resulting in GameStop’s spiked value not due to fundamentals of the company but due to the fact that over 100% of the shares have been shorted, explained more in details in the video below. For better understanding of the situation, please refer to the video “Gamestop shorts are FULL OF  about closing their short position (in my opinion)“, below: So far, GameStop is not responding to requests for comment. White House Press Secretary Jen Psaki said that Secretary of Treasury Janet Yellen and others in the Biden administration are monitoring the situation.  Fund manager Michael Burry warned that the manic rally has gotten out of hand, and commented that it’s “unnatural, insane and dangerous.” Venture capitalist Chamath Palihapitiya pushed the gains higher Tuesday, January 26, 2021, after tweeting about buying calls, said on CNBC that he closed his GameStop position and will donate $500,000 from his profits and original position to the Barstool Fund for small business. CNBC’s “Halftime Report” team is joined by Chamath Palihapitiya, CEO of Social Capital, to discuss how he traded GameStop and what he thinks this means for the investment landscape going forward, in the video “Investor Chamath Palihapitiya: The GameStop story is pushback against Wall Street establishment“, below: CNBC’s “Halftime Report” team is joined by Chamath Palihapitiya, CEO of Social Capital, to discuss how he traded GameStop and what he thinks this means for the investment landscape going forward, in the video “Billionaire investor Chamath Palihapitiya on GameStop surge and rise of retail investors“, below: Chamath Palihapitiya, Social Capital and Mark Milian, Bloomberg. Full session video from CB Insights A-ha Conference, December 13, 2017, in the video “Chamath Palihapitiya, Social Capital“, below: Following Chamath’s donation, I am finding out more and more stories about different people helping out with their family’s or friend’s difficulties as a result of their day’s gamble or winning from playing the GameStop game or GameStop gamble. Don’t you just love this modern day Robin Hood story?!  Gathered, written, and posted by Windermere Sun-Susan Sun Nunamaker More about the community at www.WindermereSun.com Any comments, suggestions, concerns regarding this post will be welcomed at info.WindermereSun@gmail.com

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