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Basically lots of hedge funds and other such entities had short sold.
Person on internet sees it. Rallies the stock, hedge funds have to panic buy to cover losses rallying prices more.
Internet character Kitty enjoys fucking with hedge funds. People make student loan pay offs thanks to hedge funds panicking.
SomethingOrOther-
i get the short squeeze story but surely that isn't a highly repeatable play?
and who is buying new gme shares?
GameStop has taken advantage of its popularity with retail traders to bolster its financial position with repeated stock sales, and on Friday morning it disclosed plans to sell another 75mn shares.
ChasnotRobert
is there any credible story on fundamentals for gme? seems to be just a slow cash burn. Hilarious if they raise $2Bn more to add to their cash incinerator.
what is the it which dfv apparently thinks Cohen "might be able to do it?
or is it pure spin?