I can't tell if you're actually this naïve. GameStop stock is not a success story because it is up at the current moment. Also, vulnerable people are exactly who will be left holding GameStop stock when it inevitably goes down. The narrative that a Robinhood proletariat is making a bunch of money at the expense of evil hedgefund managers is a fairy tale.
It's generally the short sellers who lose money in a short squeeze. All this paternalism about poor naive retail traders is frankly getting a bit tiresome. They've done quite well for themselves and it won't take much risk management to stay in profit.
The short sellers? Who exactly? It's not Melvin. How much are these shorts? Where are you getting your information? Are you really taking financial advice from Reddit trolls and unsourced Tweets? I really want to emphasize how naïve this is.
No, I'm not a participant. Maybe rein in the condescension and learn something about what happened here. It's been all over the nightly news and the financial press. I'll get you started with an article from Fortune:
> And while the traders on r/wallstreetbets—the Reddit forum that kicked off the unlikely rally for GameStop stock—may be racking up profits, the damage is accumulating for short-sellers, the investors and hedge funds who bet against, or "short," the stock. By Friday, short-sellers had lost $19.75 billion on GameStop so far this month alone, according to S3 Partners, a New York–based firm that tracks short positions on U.S. stocks.
> The losses have hit hedge funds shorting GameStop including Steve Cohen's Point72, as well as other high-profile short-sellers like Andrew Left, who runs Citron Research, a firm that built a reputation for publishing reports on stocks he believed were destined to fall.
> After announcing last week that he was shorting GameStop when the stock was trading around $40, Left said Wednesday that he had largely abandoned the trade "at a loss 100%," covering the short—or buying back the stock—when it reached the $90 range.
