Hedge fund tries to short Gamestop, now gets short squeezed by R/wallstreetbets

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haha game stonk go brrrrrrr

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The subreddit's own mods on twitter are reporting that they're working to get it back up after increase in traffic.

Also supposedly this does happen once every so often with r/wsb when they do a lot of trading activity.

So we'll see. Hopefully back up soon.

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So much for the free market lmao

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https://mobile.twitter.com/AOC/status/1354830697459032066

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How does it even work if buying is blocked but selling isn't?


That just means the sales offers have to be flooded with no buyers which would cause a collapse in price?


Am I wrong?

Yeah, unless a substantial number of people who aren’t on Robinhood are still buying.

Which, since the price seems to have recovered most of the way back to yesterday’s close (after being down over 50%), it appears is happening.

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2. Melvin Capital and Citron Research have closed out their shorts at massive losses. To say the "big guy" will win is untrue.

There is no hard evidence that this has actually happened. They've said they have, but this sort of stuff isn't public and trade volume seems to indicate that this has not, in fact, actually happened; if so, it would mean that Melvin claimed they had closed their shorts in a desparate attempt to get the squeeze to stop.

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Some tweets etc. going around claiming that Robinhood has now started automatically selling and closing users' GME positions without authorization. Abominable if it's true.

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https://twitter.com/ddayen/status/1354887002525585409

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https://twitter.com/sensanders/status/1354930238061481987?s=21