I read that Friday was the deadline to fuck the multitude of institutional investors shorting Gamestop. If so, did we do it? Did we win?!
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This is correct. We don’t know for certain when their positions come due. However, next week is expected to be the truly meteoric week for GME. Over the weekend there is expectation that more short positions may be used to push down GME prices in after hours. This would “scare” the little guys to sell, but once the market opens and short positions come due, the WSB guys expect the stock to rise dramatically on M, T, and possibly the rest of the week.
I think the brilliance of this move, is basing it around throwing money at the stock as a fuck you to the elites, and not caring about losing all of the money. If it was based around making money, people would be pulling out at the slightest whiff of a bear. The fact that GME didn't come back to earth on thursday, when all you could do was sell, is all you need to know about whether this movement is legit or not IMO.
Plus, this has gained so much attention, that I'm sure there are many people that joined in just to screw those guys over. I wanted to before they made it impossible to buy. I've never played the market in my life. But spending $50 bucks to screw over some billionaires sounded like a good use of $50 :)