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Students and faculty react to GameStop stock surge


Usually relegated to the corners of the Marshall School of Business and campus investing clubs, the stock market was on the front of students’ minds this week after GameStop’s stock surged 1000% since last year, capturing the imagination of students hoping to strike it rich overnight. 
“Everything about [the stock surge] is really crazy, especially how it happened so suddenly,” said Steve Nguyen, a sophomore majoring in business administration and a founder of quantitative finance club Quant SC. 
GameStop surged after an army of non-professional investors on the Reddit forum WallStreetBets decided to target the stock and push its price up, in part motivated by the fact that major hedge funds had decided to short sell the stock. Short selling occurs when investors bet that the price of a stock will decrease, causing them to  borrow shares of the stock and sell it, hoping to buy them back at a lower price. ....

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