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Three years ago, Keith Gill was active on Reddit's WallStreetBets forum, encouraging a large group of retail investors to buy GME stock, leading to the globally sensational "short squeeze against Wall Street" event.
Now, three years later, his return has once again caused GameStop to surge. On May 13, GameStop (GME) saw a significant increase. Due to large fluctuations in a short period, trading was halted six times, and the stock price soared over 110% at one point. By the close of the day, GameStop (GME) had risen 74.52%, marking the biggest single-day gain since February 2021.

Similarly, AMC, another stock that became a hot topic during the short squeeze three years ago, surged 79.73% and continued to rise by 24% in after-hours trading. "Retail investors' base" Reddit increased by 8.78% on Monday, with an additional 2% gain in after-hours trading. According to data from S3 Partners, after GameStop's stock price soared by 74%, short-selling hedge funds lost $838 million based on simple market value calculations for this physical video game retailer.
Ihor Dusaniwsky, Managing Director of Predictive Analytics at S3, stated, "We expect short-covering to occur... a short squeeze will help push GameStop's stock price higher, but we also expect new short-sellers to join this trade."
FactSet data shows that currently, short positions in GameStop stock account for more than 24% of the company's freely tradable shares (i.e., float).
Dusaniwsky pointed out that not only GameStop, but other meme stocks are also expected to experience significant volatility, saying, "Short-sellers of these stocks are likely to face a bumpy and bloody journey."
In fact, GameStop's rally quietly started earlier this month, with the stock accumulating a 174.7% increase this month. S3's data shows that including Monday's losses, short-sellers of GameStop have lost $1.24 billion in May alone.

How to place a trade on uSMART mobile application

After logging into the uSMART SG APP, search for "GameStop/GME.US" in the top right corner of the page. Enter the stock details page to view recent trends. Click on "Trade" in the bottom right corner, select the "Buy/Sell" function, then choose the quantity and validity period, and submit the order; the image operation guide is as follows:

This diagram is provided for illustrative purposes exclusively

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