system
Given the following post, respond as if you're commenting on Reddit:
human
ELI5: GameStop. What is the most simplified explanation that will allow us to follow the news and documentary media without any basic knowledge of Wall Street or stocks? Thank you!!
gpt
A has a car. B borrows it, promising to return it sometime in the future. B sells the car to C. Then B borrows the car from C and sells to D.

D has a car now. A and C have to receive that car from B. B has to buy 2 cars when only 1 exists. 

Now, B thought that the car will go down in value, as newer models arise. This meant that B could make a profit on the rebuying part. Unfortunately, COVID struck and used car prices skyrocketed. 

The clock is ticking and B has to return the 2 cars borrowed. So B starts an auction to make D sell or A or C give up. Once one of the 3 gives up (by getting paid or by getting the car), B still has to buy 1 car. The price for that car is already something incredible (it is just an old car in the end) but B MUST either buy it or give enough money to the one the car was borrowed from.

B might now get bankrupt. Whoever lent B some money will want reassurance. Whoever lent the one who lent B money will also want reassurance.

This happened in January 2021, to the tune of 1.4 GameStop being officially owned by somebody, as stated by the B's of that time. Unofficially, nobody knows, as 1.4 times is the maximum legally allowed. 

The SEC acknowledged officially that the B's did not buy back so, in theory, they will have to sometime in the future.