What a week it has been.
For the past five trading days, the markets were dominated by just one counter that had by now became a buzzword. And within this short frame of time, a few results were seen: a hedge fund had to be bailed out, some traders (may) have become millionaires and even prompted a U.S. congressional query into the whole scheme of things.
And what is the underlying counter that created all these?
That’s right, it is GameStop (GME), a brick-and-mortar retail chain specializing in selling video games, game consoles and their accessories.
While I do not want to delve into the mechanics of whats and hows (e.g., short squeeze, gamma squeeze, etc.), since they were explained by a lot of sites and blogs recently, I would like to briefly focus on the whys, which are somehow related to one another, and my take on the whole thing....