WallStreetBets announces victory with GameStop shares up over 50%

After being left to die less than a year ago, GameStop (New York Stock Exchange: GME) Roaring back, it ended the day 50% higher to a new all-time high of $ 65.01, after trading nearly $ 2.50 a share early last year. At some point on Friday, stocks were up as much as 78%, before faltering in a Wall Street breakout that temporarily halted trading.

The latest version includes all file customizations Short pressure, Which was accelerated this week when a dispute erupted between short sellers Citron Research and a group of investors frequenting the r / WallStreetBets subreddit. Forum members remained optimistic and encouraged other retailers to purchase GameStop.

Image source: Getty Images.

Citron Andrew Left editor tossed the towel Friday, a post from a timer Twitter The account, „We’re not going to comment anymore on GameStop, not because we don’t believe our investment thesis, but rather the angry mob who owns this stock.“ He went on to prosecute a number of crimes and said his family was „terrorized“. It had previously claimed that Citron’s original Twitter account had been hacked.

Left had promised a live broadcast event earlier in the week in which he would reveal five reasons for luring GameStop to $ 20, saying those who buy the stock are „suckers.“ After the event was postponed Wednesday, it was abruptly canceled Thursday and replaced with a video posted on Twitter and the alphabetThe YouTube. The video was widely cursed, with a number of Twitter users pointing to factual errors and reworking of logic.

While volume was already high yesterday, it reached the ceiling today, in a clear sign that the short pressure was gaining ground. While 55 million GameStop shares were traded yesterday, that increased to nearly 196 million today, 17 times the average volume during the month of December.

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