They are also moving on AMC and BBBY. AMC doubled after hours.
Seems like Reddit Gamers/daytraders have discovered smaller cap stocks with minimal float and a lot of short interest (typically hedge funds).
Of course, as soon as Wall Street hedgies start to lose money, they run off to their Swamp regulatory cronies screaming “market manipulation”.
Melvin Capital hedge fund has multi billion dollar losses from GME just today. Citadel put 2.75 billion in yesterday, and it has aleady been lost. GME today opened at 70, closed at 140, and went to 210 after hours.
In some ways this is like pranksters and jesters storming the Capitol and taking. over. Reddit gamer auteurs wiping out hedge funds. gotta love it !
I know. I bought AMC yesterday at $5.07 and sold it around 9:15 for $25.14. It then tanked to $12. Best trade of my life, and I've been doing this a LONG time.
These Millenials and Zoomers have this Gen Xer's respect for taking on the Wall St. "Boomers".