WallStreetBets (WSB) traders are 'Holding the Line' with diamond hands (aka not selling) on GameStop (GME Quick QuoteGME - Free Report) shares with the preconceived notion that they are in control of the markets for once. They want to stick it to the big Wall Street hedge funds that they see as market manipulators that have been taking advantage of them for years. In reality, the narrative is likely something entirely different. WSB brought some major short-sellers to their knees, but they began an initiative much larger than just a David vs. Goliath story. The big players in the market (aka other hedge funds/prop trading firms) went for the throat on the most shorted stocks in the market, which created the history-making big-short squeeze we've seen over the past couple weeks.

Now it would appear that WallStreetBets' house of cards is beginning to fall apart, with GME down more than 20%, AMC (AMC Quick QuoteAMC - Free Report) plummeting over 50%, and Bed Bath & Beyond taking a 35%+ bath.

Robinhood, the preferred commission-free brokerage application for Gen Z & Millennials, has restricted trading to only liquidating current positions on the most volatile stocks like the ones mentioned above, along with other trading platforms. It looks to be the beginning of the end for WallStreetBets Big Short Squeeze.

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