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
I'll try lurking there once in awhile then, might throw some money in BB then too just for the hell of it. Is GME still worth it to put some money on, or is it too late and the ship has sailed?
They're saying the real squeeze is going to be sometime on Monday, if you feel comfortable buying at ~70 a share you could probably snag some on opening if you wanted to and still get a pretty nice gain. Take it with a grain of salt and all, but a lot of people on WSB really think it’s going to hit 1k. Just make sure you’re watching it and set a decently high limit sell, and as always don’t spend anything you can’t afford to lose.
Imo yes. Gme has yet to see the shorts have to cover yet, the aqueeze on there side has joist started a bit. There also is not many avaliable stocks left to short. The volume of stocks being traded is getting very high. Those all indicate more up ward movement.
It could all come crashing down pretty fast to. If it plays out it will be a historic market event