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This extraordinary rise was primarily driven by small investors congregating on social media platforms, notably Reddit’s subreddit r/WallStreetBets. These retail traders banded together to challenge professional short sellers who had bet against GameStop, betting that its stock price would decline. Their collective buying frenzy created a classic short squeeze: because so many hedge funds and institutional investors had shorted the stock—betting on its fall—the sudden influx of retail buying forces a rapid increase in share price, compelling short sellers to cover their positions at a loss.