Honestly, I'd like to know how were we able to convince thousands of Reddit investors that this trash company that is obviously dying is a good investment? I know they didn't make that decision based on our results since our results have been cr-p for a while. So how did it happen?
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In simple terms, you can short a stock which means borrowing shares at todays price, and returning it later at hopefully a lower price. You keep the difference as profit. BBBY was/ is one of the most shorted stocks in the USA. The meme guys are mostly buying ( d-mb) and trying to organize and coordinate so the stock actually goes up, not down ( more buyers = higher price). This causes a short squeeze, where those shorting the stock get caught and end up returning the borrowed stock at a higher price ( losing their A**). When they do this, it increases the price of the stock even more. Meme dummies are hoping for a huge pay day off of this . Hasn't looked like it is working out.
BBB became a meme stick because everyone knew that it’s on its way out. So big hedge fund guys shorted the stock and the Reddit crew banded together to not only stick it to the hedge fund crew but also to make a ton of cash in the process. Does anyone thing that GameStop is worth what it’s still trading for??
Sorry, "read their convos"! LOL. Which is odd because I had a day trader live near me and he lost so much he ended up in a trailer park instead of a house.
Most of the day traders behind this want to stick it to the hedge fund guys. If you read their condos, it is hilarious to hear them bash each other. It's like two packs of hyenas fighting over the last piece of rotten meat on a carcass. Childish beyond belief.