Alexej ZolotukhinQuelle: TUMKolleg

Alexej Zolotukhin



Titel der Forschungsarbeit: Der koordinierte Kauf der GameStop-Aktie – Marktmanipulation nach europäischem Kapitalmarktrecht

Fakultät: Fakultät für Wirtschaftswissenschaften

Lehrstuhl: Lehrstuhl für Wirtschaftsrecht und Geistiges Eigentum

Betreuung: Mathias Fromberger

Abstract der Forschungsarbeit

The following case study examines the short squeeze of the US company GameStop that occurred in January 2021. With the help of the EU Market Abuse Regulation, it is evaluated what kind and to what extent a market manipulation has taken place in this specific case. Furthermore, the effects of the previous short squeeze of Volkswagen in October 2008 are taken into account to aid the understanding of this new case. To demonstrate the arguments in favor of the existence of market manipulation, posts such as YouTube videos or Tweets that resemble the voicing of an opinion, are inspected closely. The importance of the conducted research lies in the fact that the short squeeze can be traced back to a large number of private investors that decided to save the heavily shorted GameStop stock by using social media networks as a means of coordinating the purchase of the stock. This kind of intervention by private investors is an unseen phenomenon and thereby imposes a great opportunity for research in the field of capital markets law.