Correct me if I am wrong but Citron is basically hedging their bets that the price of gamestop will fall dramatically and go bankrupt. They short-sold, so they will by Gamestop shares at whatever price it is at in the future (they want them to fail). WSB, realizing this, is artifically pumping up gamestop to the point where Citron will have to buy a crap ton of super expensive shares making the reddit people very rich in the process. So it's a battle of who is more influential at manipulating the market. Tons of people are very pissed off about it and it's really funny
https://www.bloomberg.com/news/articles/2021-01-22/gamestop-tug-of-war-gives-reddit-army-a-win-on-record-volatility
When you sell a stock short, and it goes to $0, you make a profit of 100%. When you sell a stock short but it goes higher, your losses are potentially infinite
the funniest shit ever to me is the idea that redditors have an actual ounce of power in the stock market. Not to say they can't be completely fucking overshadowed by investment firms that want to wave their dicks around, because they have and can be at any time. It's moreso the thought that reddit's hivemind has grown so big that it's legit impacting real world things.
idk anything about the stock market, but I do know that is a massive point gain. I read this thread last night hoping it would put me to sleep (didn't) and found the whole drama typical but also rather comical https://www.reddit.com/r/SubredditDrama/comments/l2gfab/rwallstreetbets_set_to_private/
On one (small) stock like this collectively they can