The GameStop Battleground....Wall Street vs. WallSteetBets

It started with Andrew Left of Citron calling Gamestop a $20 stock. The Reddit community that supports Gamestop didn’t like what Andrew had to say, so they announced war. Jim Cramer said the mechanics of the market are breaking down, then added he has never seen the guns like this and that Reddit was breaking the shorts.

One of the WallStreetBets moderators felt compelled to address the backlash, taking exception with the “narrative” that the forum is “disorderly and reckless” and is involved in manipulation.

“What I think is happening is that you guys are making such an impact that these fat cats are worried that they have to get up and put in work to earn a living,” he wrote. “Some of these guys traditionally used the media as a tool for them to manipulate the market have failed to further line their pockets and now want to accuse you guys as being manipulators. This is complete nonsense… They hate that you played by the rules and still won.”

The gains came after short-selling firm Citron Research and speculative buyers organizing on Reddit clashed over the game retailer.

Dylan Steele, a college student and a manager at a fitness gym said he was planning to use his Gamestop profits to pay off his student loans. Another guy said that he will use his profits to pay off his consolidated student loan payment of $23,504.45.

Price went as high as $160 before closing the day sub $80. Today I considered shorting the stock options, but came to my senses and said it was better just to watch from the sidelines.

NOTE:

Video Source
https://www.youtube.com/c/CNBCtelevision/videos

Image Source
https://www.marketwatch.com/story/reddit-moderator-slams-wall-street-fat-cats-as-gamestop-surge-continues-they-hate-that-you-played-by-the-rules-and-still-won-11611600048?