In January 2021, investors had shorted on approximately 138% of GameStop’s available shares. In response, small investors driven by a group on Reddit began to invest. The rush on shares driven by new investors and short investors buying back their stock caused prices to skyrocket, reaching a high of $483 from less than $20 on January 12. By February 5 the share price had dropped to $63.77.
(http://bit.ly/3txbu13, http://nyti.ms/3rKO1b5)