This is really something. One way to look at it is through the lens of “cancel culture”. This is a social media rage mob acting in the financial markets.
But this one is different because this one costs the mob money.
So one of two things is true: They either don’t know this is going to cost them money, or they don’t care.
The ignorance will take care of itself. They’ll get their education soon enough.
The caring is the more interesting thing. Have we manufactured a mob that is convinced the system is rigged against them, but has enough money to piss it away?
There is another possibility. Maybe none of this has anything to do with Reddit at all. It may be that the short squeeze is just one set of Wall Street guys against another, and the Reddit guys don’t matter.