You obviously know nothing about the folks at wallstreetbets. It's not just a bunch of random people doing pump and dumps. Their methods and DD might be questionable at times but they base them on something and at times try to stick to that thesis.
Thesis in this case being “let’s protect GME from vultures and make some money on the side?” I have a hard time believing that is anything but PR. I’d hardly call the denizens of r/WSB altruistic. Sanctimonious, energetic, and smart? Absolutely. But they aren’t there because they want to empower the meek against the mighty.
Having lived through a number of cryptocurrency boom/bust cycles I’ve seen first hand how everyone is coordinated and holding the line...until those who have profit in their sights decide to find a bunch of bag holders to cover their exit. Poof.
> Having lived through a number of cryptocurrency boom/bust cycles
Strange statement. Everyone here has lived through the same, you aren't some special snowflake in this regard. Paying more attention than others to the daily price or memes means absolutely nothing in the end.
All the talk of short squeezing and sticking it to the hedge funds and Wall Street aside, they are really basing it on the belief that someone will buy it at a higher price than it is now which will be true until it's not.
Unlike Tesla or Bitcoin which many think are bubbles, this is a case where absolutely no one believes in Gamestop (being a $24 billion company, at least). There's not anyone who thinks holding it forever is a good idea at this price (or even at a fraction of the current price). In these cases when the stock stops going up it implodes very very quickly.
