In January 2021, a dramatic short squeeze of GameStop's stock, ignited by users of the Reddit forum r/wallstreetbets, sent the video game retailer's share price soaring from $17.25 to over $500 per share by January 28—nearly 30 times its value—because roughly 140% of its public float had been sold short. This forced short sellers to buy back shares to cover their positions, creating a feedback loop that drove the price even higher. On January 28, brokerages like Robinhood halted buying of GameStop and other securities, citing clearinghouse collateral requirements, which sparked accusations of market manipulation and led to a congressional hearing by the U.S. House Financial Services Committee. The extreme volatility continued, with the stock doubling on February 24, then dropping 34% on March 24 after earnings and a planned secondary offering, before rebounding 53% the next day. The event underscored the unlimited risks of short selling and demonstrated the collective power of retail investors coordinating online.