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WallStreetBets: The Big Short-Squeeze (GME, AMC, & BBBY)
A new cohort of retail traders are targeting heavily shorted stocks to squeeze them ‘to the moon’. WallStreetBets and its 3.1 million followers are fighting back against short-selling hedge funds and winning. The latest target of this Millennial & Gen Z driven trading message board has been GameStop (GME - Free Report) , which will go down in history as one of the biggest short-selling upsets.
GME is up over 1500% in just 10 trading days. Short sellers have lost more than $6 billion on a company whose market value was only $1.2 billion two weeks ago.
WallStreetBets has short-sellers scared out of their wits, with hedge funds just hoping that their shorted shares aren’t next.
For more color on the subject take a look at my article: WallStreetBets: The Big Short-Squeeze.
Note: Bed Bath & Beyond and AMC (AMC - Free Report) is mention in the title as well.
Zacks Top 10 Stocks for 2021
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