On Sunday evening, before GameStop had fallen 85% from its peak, I said:
My guess is GME will collapse in the coming months or year when this charade passes and a lot of people will get hurt along the way.
I can’t lie. I am really mad to be right about this. Mainly because all of the narratives surrounding this whole charade have been so disingenuous/misinformed and a lot of famous people promoted those bad narratives along the way. And now we’re finding out that a lot of small retail investors are left holding the bag. In fact, we’re finding out that hedge funds made a lot of money at the cost of retail investors. So, what happened here? How can we try to avoid this again in the future?
One of the worst narratives that started this whole thing had to do with how short sellers are