PS: In case I seem too frothy in all this, a bunch of the reddit guys are going to get smoked by this. Most of them, actually. This bubble will burst and anyone who bought above $20 or so is going to lose big.
And while reddit thinks they are crushing Wall Street, they will end up crushing themselves. Right now, this is happening in part because the reddit guys are staying disciplined. Holding fast in mutual solidarity.
That can’t hold. Eventually the smart ones will start taking profits. Eventually profit taking will get the momentum. Once that happens, GME will collapse.
Right now, large numbers of individual investors (I’ll talk about how RobinHood is screwing them another time) are pumping up the stock with new money. They are all going to lose. And lose soon.
This truly is a battle between the stupid and the greedy.