Short-selling firms kept badmouthing GameStop, which only fueled the rebellious spirit of those retail investors to the extreme, eventually leading more and more people to join the long side.
Short-selling firms kept adding margin, and even more short-sellers joined in, eventually pushing the short interest percentage of GameStop stock to 140%.
Generally speaking, shorting can only reach 100%, but those short-sellers took already short-sold shares and continued to short…
The situation escalated, and GameStop's stock market value was pushed up from over two billion US Dollars to over fifty billion US Dollars.
The shorts added countless margins, and at the peak, they collectively lost 38 billion US Dollars.
Shorts in the market couldn't buy shares at all; every day GameStop opened at a very high position, yet the trading volume was still very low.
No matter how much they dumped, the funds would instantly absorb it.
In the end... Wall Street unplugged the internet cables.
