An oil company producing the equivalent of 70 barrels of oil daily surged in value almost 1,000 percent to $128 million thanks to a surge in trading activity coming from retail traders. The traders, organized in the WallStreetBets forum on Reddit, took on hedge funds earlier this month and won by, as some of the group say, beating them at their own game of shorting. What will probably remain in history as the GameStop squeeze happened earlier this week when the WallStreetBets Redditors started buying as much of the company’s stock as they…
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