Os mecanismos mitigadores de risco e volatiliade, sob análise do caso Gamestop

Abstract

This research analyzes the market practice known as short-selling activism and thecorporate countermovements that occurred during January 2021 that sought the appreciation ofassets to achieve the short squeeze, as a way to cause losses to investors who believed in thedevaluation of shares, among these countermovements we highlight the GameStop case thatreverberated throughout the world market and the national case involving the reinsurancecompany IRB Brazil. The objectives of the research are, first, to investigate the developmentsof short-selling activism, especially with its growth and dissemination through social networksand, based on this, to identify which were the risk and volatility mitigating mechanisms usedin the national case and discuss its importance in the price formation process and the differencesfrom the mechanisms applied in the United States.Thus, it seeks to understand the limits and powers conferred on the administrators ofstock exchanges and possible conflicts of interest that may cause the securities market. In viewof this, the paper seeks to propose alternative measures to the current mechanisms in force inbrazilian law based on comparative law and suggestions from jurists from other countries