#Reddit the big short full#

Reddit: Click here to read the full open letter. Suddenly, the narrative became less about $GME fundamentals, and more about who these short sellers were. More than $$$, what /wallstreetbets realized was the real effect of The Big Short Squeeze. You can read about Michael Burry exiting his position here. For /wallstreetbets, the fun was just beginning. His bet came true (вЂњa 1,400% gain on GameStop in under four monthsвЂќ) & was out. Is it game over? Time to pull out and sell? Our legendary investor has turned $50k into $3 million. Sept 2020 is when things start going bananas.Д«y now, Reddit вЂњlikes the stockвЂќ and, following in u/DeepFuckingValueвЂ™s footsteps, wants a piece of the action. U/stonksthrowaway730: вЂњYou had $162k and decided to put it all into Gamestop? This is the definition of weaponized autism. Subreddit /wallstreetbets canвЂ™t believe it. With his original $50k investment (which had fallen as low as $6k at one point), he had continued doubling down on $GME, leveraging The Big Short Squeeze. Then, in August 2020, u/DeepFuckingValue was up $600,000. вЂњMaybe thereвЂ™s an opportunity here for the REST of us.вЂќ Meanwhile, attention on Reddit begins to build. HereвЂ™s where the hype cycle begins.Д«etween Apr & July 2020, u/DeepFuckingValueвЂ™s portfolio went down. u/DeepFuckingValue was up nearly $300k-and still holding. $GME going up was the opposite of what hedge funds had bet on. After $GME вЂњnightmareвЂќ 2019 Q3 earnings report: вЂњDid I sell? YвЂ™all for real? I addedвЂќДЄnd up until April 2020, the narrative around $GME stayed largely around fundamentals. This was a very early bet, and one that would take 1yr+ to play out.Д®very month, u/DeepFuckingValue would post his вЂњYOLO UpdatesвЂќ on subreddit /wallstreetbets. You can read more about what a вЂњshort squeezeвЂќ is and what that means in this particular scenario here. It was that short interest was > 100% What u/DeepFuckingValue and Michael Burry were betting on wasnвЂ™t just that $GME was going to go back up, but that it was going to вЂњsqueezeвЂќ short-sellers. The opportunity wasnвЂ™t just that $GME was undervalued. Burry was the short seller who called the housing crisis in вЂ™08, and the main character of the movie: The Big Short. More than a year prior, u/DeepFuckingValue had spotted the $GME opportunity - right alongside legendary investor Michael Burry. The fundamentals of the company were strong, and it had a promising post-pandemic future. His argument was that Gamestop $GME was undervalued. In July 2020, a retail investor, YouTuber, and Redditor u/DeepFuckingValue made a controversial video. This is the narrative that deserves more attentionвЂ¦

Reddit the big short