![]() "I AINT SELLIN □□□□ BB TO THE FUCKING MOOONN □□□□□□□□□□□," wrote user AnyHoneydew4, warning that even a brief dip in price was only a sign that things would keep booming. BlackBerry, for one, couldn't explain the sudden spike, but r/WallStreetBets could. ![]() (It's easy to tell, because they love posting screenshots of their gains.) And they're not just focused on GameStop: Musk is a proven market-mover at this point, repeatedly moving prices up with a single vague tweet (even, in Signal Advance's case, when that stock has nothing to do with the product he's tweeting about). Nobody caused a bigger jump than Elon Musk, who tweeted "Gamestonk!!" with a link to r/WallStreetBets on Tuesday night and promptly sent the stock up more than 100% in after-hours trading.Trading has been halted repeatedly, as the markets try to slow down the insanity, but to no avail. GameStop's stock has had a wild week, up as high as $468 and down as low as $69 and often fluctuating wildly in the course of a couple of hours. That's how WallStreetBets operates," Jaime Rogozinski, who created the subreddit, told Wired. It all sounds a bit like an internet con or a long-term troll, a bunch of people doing it for the lulz.More recently, Chewy's Ryan Cohen bought a big stake in GameStop and has started pushing it to become a more viable online business.Why GameStop, though? You can't overlook the connection with gamers, but it also helped that Michael Burry - one of the investors who predicted and made a fortune from the 2008 economic crisis - has been publicly saying the company was undervalued. For a while on Wednesday, the top post of on the subreddit was titled "FOR ALL THE BIG FUCKING HEDGE FUNDS MONITORING US, THIS IS A MESSAGE FROM US TO YOU, WE FUCKING OWN YOU NOW, FUCK. The WallStreetBets investors see the moves as a power grab, taking the market back from the institutional investors who have always manipulated money in secret. "IM NOT SELLING THIS UNTIL AT LEAST $1000+ GME □□□□□□ BUCKLE THE FUCK UP" was the title of a top post on the subreddit on Monday, from the user dumbledoreRothIRA. The WSB team is confident its strategy can work.That worked, which got other people on board, which caused larger investors to get in, which drove up the price, which made those first investors look like geniuses, which made more people pay attention. ![]() (Here's a good explanation of how that back-and-forth went down.) Squeezing him - forcing him to buy more shares to cover his short position as the price went up, which then by itself would drive the price up - became goal No.
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