‘Memestock’ Turns to Paper Stock: Hoo’s New Book Fictionalizes GameStop Short Squeeze

In late January 2021, nearly 800 million shares of video game retailer GameStop changed hands as amateur investors inspired by the WallStreetBets subreddit snatched up its stock, sending prices soaring by as much as 51%. That “short squeeze” – in which the amateur investors targeted hedge fund managers who were betting financially against the flagging retailer – is the inspiration for a novel by University of Virginia alumnus Frank Hamlin.