Ya I just tripled my investment. I had $800 lying around uninvested. Bought $100 and sold at $375.
Probably will continue. Shorts expiring on Friday will have to be covered if the price is above a certain threshold. Will continue to grow.
There is literally not a better mechanism in existence where you can express your disdain for wall street (the market manipulating hedge funds) and make money off of their greed. It is literally a win win.
Also not going to lie. The chicken has come home to roost. Retail investors are getting revenge. The average people who have been told to leave investing to the institutions because it is "too complicated for the average Joe" are now sticking it to them. We don't need people to invest on our behalf.
It was not good enough for these hedge funds to short GameStop from $25 to $4 and pull out making massive profit, but they doubled down to the point where over 140% of the available shares for GameStop were shorted. Essentially shorting allows a company to borrow shares from the bank, sell them at current value to another party, and when the stop goes down they just need to return the stock, regardless of its value. This is all fine and dandy when the stock is decreasing in value, BUT if it increases there is actually no limit to your losses. To cover your losses you must actually purchase the shares you have shorted. This results in a MASSIVE influx of buys and drives the stock even further up. This upward spiral is known as a SHORT SQUEEZE, and that is what is taking place with many companies that have massive short interest.
r/Wallstreetbets has identified these companies (with high short interest) and are targeting them knowing that they can trigger massive short squeezes and profit off of these funds greed.
www.cnbc.com
