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Old 14 January 2021, 06:42 AM   #11
7sins
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I would presume a combination of that, and the wallstreetbets/RH crowd flooding it in expectation of said short squeeze.
It is because GME announced adding Ryan Cohen (founder of CHWY) and two former colleagues to their board. Ryan is one of the largest shareholders and has been a huge activist to change their business plan to more digital sales. This caused the shares to rise which then caused a short squeeze as GME is one of the highest shorted stocks so shorts had to cover causing the price action you see today
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