If you’re unaware, Gamestop stock has surged 400% or so in the last week because the reddit forum r/WallStreetBets identified it as being 86% owned by short sellers and unfairly valued as a result so they decided to destroy them. The readers all collectively bought stock making the share price jump so fast, trading got suspended several times. I made a couple of grand yesterday buying into it. The losses for the short sellers are in the billions with two places closing down and wall st going bananas because anyone being a short trading cunt (so basically their breaf and butter daily MO) is getting pummelled into the ground.
Since it’s went supernova, serious fund managements are joinging in now on going long on GameStop (shares jumped from 146 to 220 in post market trading). Elon Musk decided to join in because the firm (Melvin Capital) that shorted Gamestop shorted Tesla for years and bragged about it. Ooops lol.
Anyway, if you have some money to invest, GameStop is a good bet - reddit are talking about ‘The Great Squeeze’ trying to take it to $1000 bucks a share - AMC and Bed Bath and Beyond (also mostly short trader owned including Melvin Capital) are about to get the GameStop Short Killer treatment (share price went from $2 to $8 yesterday).
