The markets sure turned against “the little guy” in a hurry.
We chatted about the massive run-up in GameStop (GME) on Wednesday. I had a buddy of mine, who just happens to be a loyal Reddit reader, catch “short squeeze” fever.
If these guys and gals had tried to go anywhere, they’d have been stopped by the temperature check. That’s how hot they were running as Wall Street big shots were being forced to “buy back” their previously shorted GME shares at astronomical prices.
But short squeezes are often short lived, and GME has already plummeted two-thirds below its peak. Why the carnage?… Read more