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by silexia 1968 days ago
DFW made his fundamentals case months ago and had a real (if possibly mistaken) case at that point.

In the last week though, after the massive increase in GME's stock price, the arguments on WSB have all been about the planned short squeeze and gamma squeeze to convince people to hold on or buy more.

3 comments

Interesting, all I see is comments about them liking the stock. The negative comments I’ve seen relate to the assumed market manipulation tactics.
Taking the last week out of context makes little sense, because the last week is just a snowball that started on the 11th of January 2021, when Ryan Cohen and two of his friends from Chewy joined GameStop’s board, after building up a 13% stock position in the company over the course of the last few months. They believe that GameStop can be reimagined as a force in online retailing: https://www.bloomberg.com/news/newsletters/2021-01-25/money-...
This is crowd sourcing to create a coordinated attack like DDOS-ing, but how did we get here? Over-shorting. How did we get there? Hedge fund data sharing dinners? So this seems more like a swing back in the other direction. I presume when the dust settles the SEC will claw back these "illegal" gains from the individual investors. Too bad trades aren't settled via blockchain.