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The story reads like a thriller novel. Traders who hang around a Reddit board called WallStreetBets have been getting together to make bets on a bunch of stocks over the last few years. One of those stocks was GameStop Corp. (NYSE: GME). Please share this article - Go to very top of page, right hand side, for social media buttons. One of these would-be traders noticed that shares of GameStop were heavily shorted. Very heavily shorted. The Reddit traders started buying the stock and short-dated call options to drive out the shorts. You see, when traders sell a stock short, they borrow the shares, sell them, and then plan to rebuy them later at a lower price, netting a profit. But when share prices start climbing, they re forced to cut their losses and buy back the stock at the higher price or else risk financial ruin. This is called a short squeeze, and the buying from it, called short covering, also helps push the share price higher.

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