Wallstreetbets is a sub-reddit where they wanted to try to build a community to for the big short sellers out of certain stocks, but what they didn’t realise is that they can really kill these companies with the power of the retail investors.
Short Seller percentages of outstanding stock:
- GME = 102% Short Sellers
- AMC = 18% Short Sellers
Most companies tend to be below 2% in short sellers.
At the time of writing this GME is up to $337 per share (up 128% in one day) and AMC 19.35 per share (up 286% in one day).
The community seems to be using their retail power to try to force these short sellers out of the market and make them bankrupt.
Stick it to the man!