Oh, we should have no doubt that there were some other players involved here. I have a friend that went in on GME early and he explained the situation to me. Immediately I thought: if I were a manager of a competing hedge fund (or just a really wealthy individual investor) who knew what Melvin was doing with its short position, how easy would it be to utilize social platforms to squeeze my competition? How hard would it be to go on Reddit and establish a reputation quickly (employment history, portfolio worth, etc.) and just convince a lot of people to buy GME?
We've entered meme financing.
There was a guy on r/wallstreetbets who was pushing this squeeze who had something like a $50 million in GME when it peaked the other day. Apparently he frequently posts pictures of his portfolio. He initially went in $250k and another $500k a few days later. This squeeze was not simply all a bunch of retards with $1500 stim checks to blow.
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