Comment by DenverCode | Hacker News Reader

Comment by DenverCode | Hacker News Reader

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> No one talked about a fundamental case why Gamestop the company was worth a lot of money and would be successful in the future; instead everyone made the argument that due to a very high short interest of 100%+, that a short squeeze would send the price “to the moon”.

All of this started on Reddit because someone made a case for their fundamentals.

Here is their Reddit account: https://www.reddit.com/user/DeepFuckingValue/

Here is their YouTube account: https://www.youtube.com/c/RoaringKitty/videos

He is considered a legend by all of the people on WSB (of which I am not one) for it and kicked the whole thing off.

My question is.. how does a guy on Reddit and YouTube giving a fundamental analysis of why he valued a stock, and millions of people seeing value and buying it, differ from something akin to Mad Money?

DFW made his fundamentals case months ago and had a real (if possibly mistaken) case at that point.

In the last week though, after the massive increase in GME's stock price, the arguments on WSB have all been about the planned short squeeze and gamma squeeze to convince people to hold on or buy more.

Interesting, all I see is comments about them liking the stock. The negative comments I’ve seen relate to the assumed market manipulation tactics.

This is crowd sourcing to create a coordinated attack like DDOS-ing, but how did we get here? Over-shorting. How did we get there? Hedge fund data sharing dinners? So this seems more like a swing back in the other direction. I presume when the dust settles the SEC will claw back these "illegal" gains from the individual investors. Too bad trades aren't settled via blockchain.

Taking the last week out of context makes little sense, because the last week is just a snowball that started on the 11th of January 2021, when Ryan Cohen and two of his friends from Chewy joined GameStop’s board, after building up a 13% stock position in the company over the course of the last few months. They believe that GameStop can be reimagined as a force in online retailing: https://www.bloomberg.com/news/newsletters/2021-01-25/money-...

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