Incase you haven't caught up yet, a subreddit with 2 million users decided to Bognadof the Gamespot stock, so much that 3 days ago it closed $40 US dollars, then yesterday it was $75 and just now when the market closed it was $145 US. Gamespot is now worth 10 billion dollars, the first time ever in it's history and Melvin Investment, a hedgefund that was short selling the stock has lost an estimated 6 billion dollars, after receiving a 2.75 billion bailout yesterday from 2 other investment firms. This really is entertaining to watch and is costing someone rich a lot of money.
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You're right of course, but if you lose all your money in the process being early is the same as being wrong.
True. I rarely short. I thought about shorting based on the fact Biden will fuck everything up, but I decided against it. Would have lost quite a bit.
Still, anyone who thinks GameStop will survive the pandemic is optimistic.
I'm not sure anyone really believes that. There's people who want to fuck over a hedge fund, and there's people who see the stock go up 100% in a day and want a piece of that while hoping to not be left holding the bag when it goes bust.
Everyone else is probably taking their money and running before it goes back to $20, and preparing to retire.