We're literally watching history unfold and probably a movie in the making
Nothing quite like this has ever happened before
In a David and Goliath scenario, hedge funds are literally losing BILLIONS right now (particularly Melvin Capital) all because the little guy is turning the tables and fucking them right in the ass.
not even a month ago, GME was around $20 per share. As I am writing this, it is trading at about $330. It could go much higher tomorrow and I dont think its 100% impossible at this point to even see something ridiculous like a $1000 share price by friday. Of course any of these scenarios are going to be temporary.
The shorts are getting squeezed HARD and there is more to come
CNBC and other outlets even tried putting news stories out very early this morning before market open basically saying that Melvin Capital closed out their short position. However, WSB apparently detected pretty quickly that this had to have been fake news and they still had a short position.
Other hedge funds have since swooped in with billions more to bail out Melvin.
Point72 agreed to invest $750 million, and Citadel is investing $2 billion. Both are taking a non-controlling passive revenue share in the firm.
Fun fact: That was MONDAY...
Get the popcorn ready
The squeeze is on...
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