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The WallStreetBets subreddit took the financial world by storm this week, putting hedge funds at the edge of their seat. Here's everything you need to be equipped for the inevitable conversation about why GameStop's stock is rising, what short squeeze means, and how a Reddit trader sparked the Wall Street revolution.
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For days, some social media users have been earnestly trying to explain to non-finance bros what it means to "short" a stock, what a "short squeeze" is, and how hedge fund Melvin Capital wound up needing a $2.75 billion bailout because they made a catastrophically bad bet against the "bland mall fixture" that is video game retailer GameStop. Some people tried to get in on the action by looking into buying their own shares of GameStop on Robinhood, a trading and investing app, until Robinhood halted GameStop trading on Thursday, and then reauthorized it in limited quantities on Friday. Most pe...