We explore the 2020 and early 2021 price variation of four stocks: GameStop, AMC Entertainment Holdings, Blackberry and Nokia. The four stocks were subject to a decentralized short squeeze that exploited the short positions of institutional investors. This investor movement was likely initiated by retail investors concentrated mostly around the subreddit r/WallStreetBets (WSB). We demonstrate that part of the next day’s price variation can be explained by an increase in activity on the WSB subreddit relative to Google searches (terms related to the event). We discuss implications for future research.

我们探讨了四只股票 2020 年和 2021 年初的价格变化：GameStop、AMC Entertainment Holdings、黑莓和诺基亚。这四只股票受到分散的空头挤压，利用机构投资者的空头头寸。这种投资者运动可能是由主要集中在 subreddit r/WallStreetBets (WSB) 周围的散户投资者发起的。我们证明了第二天价格变化的一部分可以通过 WSB subreddit 上相对于 Google 搜索（与事件相关的术语）的活动增加来解释。我们讨论对未来研究的影响。