If you look up WSB, there are plenty of game plans— PLTR, PLUG, NIO. GME was just trapped and the institutional investors underestimated the power of one subreddit.
The real squeeze is when the rest of wall street saw blood in the water, after Monday. This was not in the hands of WSB after that point. Big names got involved, and destroyed those funds.
Especially Elon Musk. He had gears to grind with short sellers and he did.
True... he actually got involved to give the short sellers a taste of their own medicine.. prior to this TSLA was the favourite stock of short sellers... Musk calls short selling as scam. Though shorting ensures market equilibrium and was brought into the system to prevent such short squeezes.. It’s just some big guys were taking too much leverage and are now facing repercussions.
Shorting was brought into thr market to prevent short squeezes? That doesnt make sense.
Exactly, everyone jumped in when they realised the WSB memes actually made sense
Actually, they jumped after it made sense. There is a cohort of twitter people who are jumping on anything that is making the news to appear to be edgy.
Or if not quite 'sense', could be used to advantage. Like now the company that processes Robinhood's trades ends up owning a chunk of the hedge fund wsb targeted.
As the OP says, the squeeze was already set up. Big names were already getting involved. The post was just a call to ride the wave. And a prediction to how high the wave possibly could go.